The New Germany Fund, Inc. Announces Changes to Portfolio Management NEW YORK, March 19 /PRNewswire-FirstCall/ -- The New Germany Fund, Inc. (GF) announced today that Hanspeter Ackermann, a member of the team responsible for managing the Fund's portfolio, has tendered his resignation. The day-to-day management of the Fund's portfolio is handled by a team of investment professionals at the Fund's Investment Adviser, Deutsche Asset Management International GmbH, including Petra Pflaum and Raik Hoffmann. That team, based in Frankfurt, will remain in place. The Fund's Investment Manager is Deutsche Bank Securities Inc. Mr. Ackermann has been employed by the Fund's Investment Manager in New York and has acted as the Fund's Chief Investment Officer since 1996. Mr. Ackermann's duties will be assumed senior officers within the Investment Manager. 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 Fund is 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. Please read this fund's prospectus for specific details regarding its risk profile. Shares of closed-end funds frequently trade at a discount to net asset value. The price of the Fund's shares is determined by a number of factors, several of which are beyond the control of the Fund. Therefore, the Fund cannot predict whether its shares will trade at, below or abovenet asset value. DATASOURCE: The New Germany Fund, Inc. CONTACT: Pattie Rosch, Director, +1-212-336-4812, or Judith Inosanto, Vice President, +1-212-326-6746, both of Deutsche Asset Management

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