The Germany, New Germany & Central Europe & Russia Funds Name Addition to Investment Team

The Germany, New Germany & Central Europe & Russia Funds Name
Addition to Investment Team 


NEW YORK, June 4  /PRNewswire-FirstCall/ -- The Germany (NYSE:GER), New Germany
(NYSE:GF) and Central Europe and Russia Funds (NYSE:CEE) today announced that
its Board of Directors have appointed Sandra M. Schaufler as Chief Investment
Officer for these three funds.  Located in New York, Ms. Schaufler will be
working with the Frankfurt-based team from the funds' investment adviser,
Deutsche Asset Management International GmbH.

Most recently, Ms. Schaufler was Director of equity sales at HVB Capital
Markets in New York. From 1997 to 2001 Ms. Schaufler worked as a Portfolio
Manager of Deutsche Asset Management in Germany. Her responsibilities included
management of European and Global equity funds, while being the senior buy side
analyst for the European technology sector. Earlier in her career Ms. Schaufler
was a Portfolio manager for Allianz Asset Management in Munich, managing
pan-European funds. Ms. Schaufler has a Masters in International Economics
Sciences from the University of Innsbruck., Austria, and also studied at both
the University of Maastricht, Netherlands, and the Universidad Internacional de
Andalucia, Spain. She successfully completed the DVFA Investment Analyst
program and was awarded the EFFAS Financial Analyst in 1998. In 2000, AIMR
acknowledged Ms. Schaufler's standing as a Chartered Financial Analyst (CFA).

The Germany Fund, Inc. is a non-diversified, closed-end investment company. 
The Fund seeks long-term capital appreciation investing primarily in large
capitalization equity securities trading on the German stock exchanges. The
Fund may also invest up to 20% of total assets in blue chip stocks in the
United Kingdom, Switzerland, and countries outside Germany that have adopted
the new Euro currency.  Its shares are listed on the New York Stock Exchange
under the symbol "GER".

The New Germany Fund, Inc. is a non-diversified, closed-end investment company
seeking capital appreciation primarily through investment in the Mittelstand --
an important group of small and mid-cap German companies.  The Fund may invest
up to 35% of its assets in large cap German companies, and up to 20% in other
Western European companies.  Its shares are listed on the New York Stock
Exchange under the symbol "GF".

The Central Europe and Russia Fund, Inc. is a non-diversified, closed-end
investment company seeking capital appreciation primarily through investment in
Central European and Russian equities. Its shares are listed on the New York
Stock Exchange under the symbol "CEE".

These Funds are non-diversified and can take larger positions in fewer
companies, increasing its overall risk profile.  Investments in securities of
foreign issuers present greater risks including currency fluctuations and
changes in political/economic conditions.  Foreign securities markets generally
exhibit greater price volatility and are less liquid than the US markets.

Not FDIC insured 

DATASOURCE: The Germany; New Germany; Central Europe and Russia Funds



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