DWS Scudder Rebrands as DWS Investments

Business Wire,  July 16, 2008  

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Unveils New Logo, Tagline and Website

NEW YORK -- DWS Scudder today announced that it has changed its name to DWS Investments, representing a complete alignment of Deutsche Asset Management's (DeAM) US and worldwide retail asset management organization, DWS Investments.

"The name change to DWS Investments reflects the next step in the evolution of our business," said Axel Schwarzer, CEO of DWS Investments US. "It completes the rebranding effort started two years ago and our alignment to Deutsche Bank's global asset management platform."

As part of the rebranding strategy, the firm has unveiled a new tagline and website in the US, which embodies its distinctive, innovative approach to investing. The tagline and central message of the strategy - "Reshaping Investing" -addresses today's asset allocation challenge of lower return expectations, higher volatility and increased correlation, and DWS Investments' response of providing retail investors with access to alternative strategies and outcome-driven products. Since 2006, DWS Investments has launched several innovative products and strategies that directly address this challenge, including: DWS LifeCompass Protect Fund, designed to preserve capital; DWS LifeCompass Income Fund, designed to extend income; DWS Alternative Asset Allocation Fund, designed to provide greater diversification; and Climate Change.

The new website (www.DWS-Investments.com), re-designed to cater to the needs of advisors and clients through a two-click philosophy, has been praised by several leading financial services website rating agencies, including Kasina and Dalbar.

"Important elements of the new DWS Investments website including design, usability and product information push the envelope on existing industry standards," said Steven Miyao, CEO of Kasina. "These enhancements are representative of what has been happening with the Web beyond our industry."

"The new DWS Investments website displays innovative and groundbreaking functionality that focuses on the overall user experience," said Courtney O'Leary, Director of New Ventures at Dalbar. "The PDF builder, interactive professional educational resources, and improved navigational offerings prove that DWS Investments is a real pioneer in the art of client experience."

The revamped website will offer fund information in interactive formats including visual, charts, diagrams, lists, audio and video.

"Our goal was to launch a best-in-class site that enhanced ease of use for advisors and clients," said Schwarzer. "One that uses cutting-edge technology to deliver an engaging, yet highly functional, state-of-the-art experience."

The integration of DWS Investments with that of its global mutual fund business brings together the firm's US, European, Asian, and Latin American mutual fund brands under the DWS Investments name. DWS Investments is the largest mutual fund firm in Germany, the second largest in Europe and the 9th largest in the world based on assets.

DWS Investments

DWS Investments is the US retail brand of Deutsche Bank's global asset management division. DWS is the leading mutual fund brand in Germany and one of the most respected in Europe and Asia. With access to the expertise of a powerful global network of more than 900 investment professionals in 16 countries, DWS Investments strives to make innovative investment strategies and solutions, traditionally reserved for institutions and high net worth individuals, available to the US retail investor.

DWS Investments manages over $80 billion (as of 3/31/08) in retail and retirement assets in more than 135 mutual funds and variable insurance portfolios across all major asset categories in the US. Organizations under the DWS brand manage approximately [euro]255 billion globally (as of 3/31/08).

For more information, visit: www.dws-investments.com.

About Deutsche Asset Management

With approximately $818 billion in assets under management globally (as of 30 March 2008), Deutsche Bank's Asset Management division is one of the world's leading investment management organizations, not just in size, but in quality and breadth of investment products, performance and client service. The Asset Management division provides a broad range of investment management products across the risk/return spectrum.

About Deutsche Bank

Deutsche Bank <NYSE: DB is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 78,275 employees in 76 countries, Deutsche Bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.

www.db.com

This announcement is not an offer to purchase or the solicitation of an offer to sell shares of the Fund or a prospectus, circular or representation intended for use in the purchase or sale of Fund Shares.