The Scudder New Asia Fund, Inc. (NYSE: SAF) announced
today that its special meeting of stockholders, which was convened
today, has been adjourned until Tuesday, March 21, 2006 in order to
allow more time for stockholders to submit proxies with respect to the
special meeting proposals, including (i) the amendment of the Fund's
Articles of Amendment and Restatement to enable an affirmative vote of
a majority of the Fund's outstanding shares to approve any
reorganization, consolidation, merger, transfer or assets or share
exchange of the Fund document and (ii) the merger of the Fund into
Scudder Emerging Markets Fund, a series of Scudder International Fund,
Inc.
In order to pass, the proposal to amend the Fund's Articles of Amendment and Restatement requires the affirmative vote of holders of a majority of the Fund's outstanding shares. The approval of the merger requires the affirmative vote of two-thirds of the holders of the Fund's outstanding shares, unless the amendment to the Fund's Articles of Amendment and Restatement is approved, in which case a majority of the holders of the Fund's outstanding shares is required to approve the merger.
The reconvened special meeting of stockholders of the Fund will be held at 10:00 a.m. on March 21, 2006 at the offices of Deutsche Asset Management, 345 Park Avenue, New York, New York 10154 for the sole purpose of considering the proposal to amend the Fund's Articles of Amendment and Restatement and the merger proposal. There will be no change of the record date and holders of record of the Fund's common stock at the close of business on January 23, 2006 remain entitled to vote at the annual meeting of stockholders of the Fund.
The Scudder New Asia Fund, Inc. is non-diversified and may focus their investments in certain geographic regions, thereby increasing their vulnerability to developments in that region. The Fund is a closed-end fund with an investment objective of long-term capital appreciation through investment primarily in the equity securities of Asian companies. Investing in foreign securities presents certain unique risks not associated with domestic investments, such as currency fluctuation, political and economic change, and market risks. This may result in greater share price volatility.
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 sold in the open market through a stock exchange. 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 above net asset value. There can be no assurance that any action proposed or adopted by the Board will reduce or eliminate the discount at which the Fund's shares trade.
Investments in funds involve risks. Additional risks are associated with international investing, such as government regulations and differences in liquidity which may increase the volatility of your investment. Foreign security markets generally exhibit greater price volatility and are less liquid than the US market.
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. Fund shares are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. Fund shares involve investment risk, including possible loss of principal. -0- ---------------------------------------------------------------------- NOT FDIC/ NCUA INSURED MAY LOSE VALUE NO BANK GUARANTEE NOT A DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY ----------------------------------------------------------------------
DWS Scudder is part of Deutsche Asset Management which is the marketing name in the US for the asset management activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche Asset Management Inc., Deutsche Asset Management Investment Services Ltd., Deutsche Investment Management Americas Inc. and DWS Scudder Trust Company. (2/06 41408)
In order to pass, the proposal to amend the Fund's Articles of Amendment and Restatement requires the affirmative vote of holders of a majority of the Fund's outstanding shares. The approval of the merger requires the affirmative vote of two-thirds of the holders of the Fund's outstanding shares, unless the amendment to the Fund's Articles of Amendment and Restatement is approved, in which case a majority of the holders of the Fund's outstanding shares is required to approve the merger.
The reconvened special meeting of stockholders of the Fund will be held at 10:00 a.m. on March 21, 2006 at the offices of Deutsche Asset Management, 345 Park Avenue, New York, New York 10154 for the sole purpose of considering the proposal to amend the Fund's Articles of Amendment and Restatement and the merger proposal. There will be no change of the record date and holders of record of the Fund's common stock at the close of business on January 23, 2006 remain entitled to vote at the annual meeting of stockholders of the Fund.
The Scudder New Asia Fund, Inc. is non-diversified and may focus their investments in certain geographic regions, thereby increasing their vulnerability to developments in that region. The Fund is a closed-end fund with an investment objective of long-term capital appreciation through investment primarily in the equity securities of Asian companies. Investing in foreign securities presents certain unique risks not associated with domestic investments, such as currency fluctuation, political and economic change, and market risks. This may result in greater share price volatility.
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 sold in the open market through a stock exchange. 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 above net asset value. There can be no assurance that any action proposed or adopted by the Board will reduce or eliminate the discount at which the Fund's shares trade.
Investments in funds involve risks. Additional risks are associated with international investing, such as government regulations and differences in liquidity which may increase the volatility of your investment. Foreign security markets generally exhibit greater price volatility and are less liquid than the US market.
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. Fund shares are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. Fund shares involve investment risk, including possible loss of principal. -0- ---------------------------------------------------------------------- NOT FDIC/ NCUA INSURED MAY LOSE VALUE NO BANK GUARANTEE NOT A DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY ----------------------------------------------------------------------
DWS Scudder is part of Deutsche Asset Management which is the marketing name in the US for the asset management activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche Asset Management Inc., Deutsche Asset Management Investment Services Ltd., Deutsche Investment Management Americas Inc. and DWS Scudder Trust Company. (2/06 41408)