The Central Europe, Russia and Turkey Fund, Inc. Announces New Portfolio Manager

New York - 22 December 2014

The Central Europe, Russia and Turkey Fund, Inc. (NYSE: CEE) (the “Fund”) announced that Sylwia Szczepek has become the Fund’s new Portfolio Manager. Sebastian Kahlfeld continues to serve as the Fund’s Deputy Portfolio Manager, and both Mrs. Szczepek and Mr. Kahlfeld report to Petra Pflaum, EMEA Head of Equities for Deutsche Asset & Wealth Management GmbH, the Fund’s investment adviser.

Mrs. Szczepek is a Senior Portfolio Manager Equities, Vice President, Deutsche Bank AG in Frankfurt. She joined Deutsche Asset & Wealth Management in 2014 after having previously worked for Deutsche Bank AG / DWS Investment GmbH from 2001 to 2007, where she was responsible for managing Eastern European equities funds. In early 2008 she joined the Investment Banking Division of Credit Suisse as a proprietary trader for Eastern European Equities, where she worked until 2010. She started her professional career in Deutsche Bank AG’s Private Banking and Corporate Development department in 1998. Mrs. Szczepek earned a Masters Degree in Finance and Banking (“Diplom-Kauffrau”) from the University of Münster / Germany and a Masters Degree in Business Economics (“Magister”) from the Warsaw School of Economics.

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