The Central and Eastern Europe Fund, Inc. Announces Cancellation of Previously Announced Fund Benchmark Change | Business

NEW YORK–(BUSINESS WIRE)–May 6, 2022–

The Central and Eastern Europe Fund, Inc. (NYSE: CEE) (the “Fund”) announced today that its Board of Directors has decided not to proceed with the previously announced change in the Fund’s benchmark index from MSCI Emerging Markets Eastern Europe Index to a custom blend of MSCI Germany Index, 24% weighting, MSCI Austria Index, 4% weighting, MSCI Switzerland Index, 12% weighting, and MSCI Emerging Markets Eastern Europe Index, 60% weighting, subject to shareholder approval the removal of the Fund’s policy to concentrate its investments in the energy sector. Accordingly, the Fund will retain the MSCI Emerging Markets Eastern Europe Index as the Fund’s benchmark. The Board of Directors has decided that it will continue to recommend shareholder approval at the Fund’s annual meeting of shareholders of the proposed amendment to the Fund’s concentration policy.

For more information on the Fund, visit www.dwsfunds.com or call (800) 349-4281.

IMPORTANT INFORMATION

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

The Fund is not diversified and may take larger positions in fewer issues, which increases its potential risk, and also concentrates its investments in the energy sector. Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes and market risks. Emerging markets tend to be more volatile and less liquid than markets in more mature economies, and generally have less diversified and less mature economic structures and less stable political systems than those in developed countries. Any fund that focuses on a particular market segment or region of the world

Shares of most closed-end funds, including the Fund, are not offered continuously. Once issued, closed-end fund shares are bought and sold on the open market through an exchange. Shares of closed-end funds often trade at a discount to net asset value. The price of a fund’s shares is determined by a number of factors, many of which are beyond the fund’s control. Therefore, a fund cannot predict whether its shares will trade at, below, or above net asset value.

War, terrorism, sanctions, economic uncertainty, trade disputes, public health crises, and related geopolitical events have caused, and in the future may cause, significant disruptions to U.S. and global economies and markets , which may lead to increased market volatility and may have material adverse effects on the fund and its investments.

This press release does not constitute an offer to sell or a solicitation to buy, and there will be no sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration. or qualification under the laws of such state or jurisdiction.

Certain statements contained in this press release may be forward-looking. These include all statements relating to plans, expectations and other statements that are not historical facts and generally use words such as “expect”, “anticipate”, “believe”, “intend and similar expressions. These statements represent the current beliefs of management, based on information available at the time the statements are made, with respect to the matters discussed. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Management undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The following factors, among others, could cause actual results to differ materially from the forward-looking statements: (i) the effects of adverse changes in market and economic conditions; (ii) legal and regulatory developments; and (iii) other additional risks and uncertainties, including public health crises (including the recent pandemic spread of the novel coronavirus), war, terrorism, trade disputes and related geopolitical events.

Past performance is not indicative of future results.

NOT INSURED BY FDIC/NCUA • MAY LOSE VALUE • NO BANK GUARANTEE

NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

Distributors DWS, Inc. 222 South Riverside Plaza Chicago, Illinois 60606-5808 www.dws.com

Tel (800) 621-1148

© 2022 DWS Group GmbH & Co. KGaA. All rights reserved

The DWS brand represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas, Inc. and RREEF America LLC which offer advisory services . ( R-089785-1) (05-2022)

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CONTACT: For more information:

DWS Press Office (212) 454-4500

Shareholder Account Information (800) 294-4366

DWS Closed-End Funds (800) 349-4281

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

KEYWORD INDUSTRY: FUNDING OF PROFESSIONAL SERVICES

SOURCE: Central and Eastern Europe Fund, Inc.

Copyright BusinessWire 2022.

PUBLISHED: 05/06/2022 17:00/DISC: 05/06/2022 17:02

http://www.businesswire.com/news/home/20220506005503/en

Mary I. Bruner