Central Europe and Russia Fund Secures Board Approval

The Central Europe and Russia Fund announced that its Board of Directors approved the increase of the Fund's non-fundamental investment policy that currently limits its investments in Russia to 66 2/3 percent of the Fund's total assets.

Effective February 1, the Company said the Fund may invest in Russia up to 75 percent of the Fund's total assets. The level of the Fund's exposure to Russian equities will continue to be dependent on the Fund's portfolio manager's outlook based on market conditions. No changes were made to the Fund's investment objective, other investment policies, or benchmark.
The Central Europe and Russia Fund, Inc. is a non-diversified, closed-end investment company seeking long term capital appreciation through investment primarily in equity and equity-linked securities of issuers domiciled in Central Europe and Russia.

This fund is non-diversified and can take larger positions in fewer issues, increasing its potential risk. Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Any fund that focuses in a particular segment of the market will generally be more volatile than a fund that invests more broadly.

According to a release, closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering and once issued, shares of closed-end funds are bought and sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to the net asset value. The price of a fund's shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, a fund cannot predict whether its shares will trade at, below or above net asset value.

DWS Investments is part of Deutsche Bank's Asset Management division and, within the US, represents the retail asset management activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche Investment Management Americas and DWS Trust Company.