On December 16, 2005, the Internal Revenue Service (the
"IRS") issued a ruling that would limit the income derived from swaps
on a commodity index ("commodity swaps") after June 30, 2006 to a
maximum of 10% of the fund's gross income. The fund has not invested
in commodity swaps in the past and the manager has determined that the
fund will not invest in commodity swaps in the future. The IRS ruling
did not make any definitive determination with respect to the
commodity-linked structured notes in which DWS Global Commodities
Stock Fund, Inc. (NYSE: GCS) invests.
On May 5, 2006, management announced that its view, after consultation with fund counsel, is that the use of the commodities- linked structured notes in which the fund currently invests should produce qualifying income under the Internal Revenue Code. Management now states that its view, after consultation with fund counsel, is that the use of the commodities-linked structured notes in which the fund currently invests will produce qualifying income under the Internal Revenue Code. The fund is in the process of seeking a private letter ruling from the Internal Revenue Service to confirm this view. The fund's request for a private letter ruling is substantially similar to recent private letter rulings provided to other fund groups.
DWS Global Commodities Stock Fund, Inc. is a non-diversified, closed- end investment company currently invested in equity and commodities- linked securities of companies in commodities-related industries or issuers whose value is tied to the price of certain commodities or commodities-related indexes. The investment objective of the fund is capital appreciation with total return as a secondary objective.
Investments in funds involve risks. Because the fund concentrates its investments in securities related to commodities, market price movements, regulatory changes and economic changes as well as adverse political or financial factors could have a significant impact on the fund's performance. The commodity-linked structured notes and futures contracts in which the fund expects to invest have substantial additional risks, including risk of loss of a significant portion of their principal value and liquidity risk, as well as the risk of greater 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.
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 Investments 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. (MARS 5/06 42314)
On May 5, 2006, management announced that its view, after consultation with fund counsel, is that the use of the commodities- linked structured notes in which the fund currently invests should produce qualifying income under the Internal Revenue Code. Management now states that its view, after consultation with fund counsel, is that the use of the commodities-linked structured notes in which the fund currently invests will produce qualifying income under the Internal Revenue Code. The fund is in the process of seeking a private letter ruling from the Internal Revenue Service to confirm this view. The fund's request for a private letter ruling is substantially similar to recent private letter rulings provided to other fund groups.
DWS Global Commodities Stock Fund, Inc. is a non-diversified, closed- end investment company currently invested in equity and commodities- linked securities of companies in commodities-related industries or issuers whose value is tied to the price of certain commodities or commodities-related indexes. The investment objective of the fund is capital appreciation with total return as a secondary objective.
Investments in funds involve risks. Because the fund concentrates its investments in securities related to commodities, market price movements, regulatory changes and economic changes as well as adverse political or financial factors could have a significant impact on the fund's performance. The commodity-linked structured notes and futures contracts in which the fund expects to invest have substantial additional risks, including risk of loss of a significant portion of their principal value and liquidity risk, as well as the risk of greater 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.
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 Investments 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. (MARS 5/06 42314)