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<SEC-DOCUMENT>0000950137-09-003033.txt : 20090416
<SEC-HEADER>0000950137-09-003033.hdr.sgml : 20090416
<ACCEPTANCE-DATETIME>20090416160115
ACCESSION NUMBER:		0000950137-09-003033
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20090528
FILED AS OF DATE:		20090416
DATE AS OF CHANGE:		20090416
EFFECTIVENESS DATE:		20090416

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DWS MUNICIPAL INCOME TRUST
		CENTRAL INDEX KEY:			0000839533
		IRS NUMBER:				363605060
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1130

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05655
		FILM NUMBER:		09753828

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004
		BUSINESS PHONE:		212-454-6778

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154-0004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SCUDDER MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	20010123

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KEMPER MUNICIPAL INCOME TRUST
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>c50509cdef14a.htm
<DESCRIPTION>DEF 14A
<TEXT>
<HTML>
<HEAD>
<TITLE>def14a</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif">
<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>SCHEDULE 14A</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B>(Rule&nbsp;14a-101)</B></DIV>



<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>INFORMATION REQUIRED IN PROXY STATEMENT<BR>
SCHEDULE 14A INFORMATION</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Proxy Statement Pursuant to Section&nbsp;14(a) of the Securities<BR>
Exchange Act of 1934 (Amendment No. )</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Filed by Registrant <FONT face="Wingdings">&#254;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Filed by a Party other than the Registrant<FONT face="Wingdings">&#111;</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Check the appropriate box:
</DIV>


<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Preliminary Proxy Statement</TD>
</TR>

<TR>

</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><B>Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-</B><B>6(e)(2)</B><B>)</B></TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#254;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Definitive Proxy Statement</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Definitive Additional Materials</TD>
</TR>

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting Material Pursuant to &#167;240.14a-12</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>DWS MUNICIPAL INCOME TRUST</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(Name of Registrant as Specified in Its Charter)</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Payment of Filing Fee (Check the appropriate box):
</DIV>


<DIV style="margin-top: 0pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#254;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No fee required.</TD>
</TR>

<TR>
    <TD style="font-size: 0pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(4) and 0-11.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Title of each class of securities to which transaction applies:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>

    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Aggregate number of securities to which transaction applies:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>

    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule
0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>

    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Proposed maximum aggregate value of transaction:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>

    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Total fee paid:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>

    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fee paid previously with preliminary materials.</TD>
</TR>

<TR>
    <TD style="font-size: 0pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><FONT face="Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Check box if any part of the fee is offset as provided by Exchange Act Rule&nbsp;0-11(a)(2) and
identify the filing for which the offsetting fee was paid previously. Identify the
previous filing by registration statement number, or the Form or Schedule and the date of
its filing.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Amount Previously Paid:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>

    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Form, Schedule or Registration Statement No.:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>

    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Filing Party:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>

    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Date Filed:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>

    <TD colspan="3"><DIV style="width: 100%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">DWS
    DREMAN VALUE INCOME EDGE FUND, INC. (&#147;DHG&#148;)<BR>
    DWS MULTI-MARKET INCOME TRUST (&#147;KMM&#148;)<BR>
    DWS MUNICIPAL INCOME TRUST (&#147;KTF&#148;)<BR>
    DWS STRATEGIC MUNICIPAL INCOME TRUST (&#147;KSM&#148;)<BR>
    DWS STRATEGIC INCOME TRUST (&#147;KST&#148;)<BR>
    </FONT></B><FONT style="font-family: 'Times New Roman', Times">345
    PARK AVENUE<BR>
    NEW YORK, NEW YORK 10154
    </FONT>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 27%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=311 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTICE OF
    JOINT ANNUAL MEETING OF SHAREHOLDERS<BR>
    TO BE HELD MAY&#160;28, 2009</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 27%; border-bottom: 1pt solid #000000"></CENTER><!-- callerid=999 iwidth=311 length=84 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    This is the formal agenda for the joint annual meeting of DHG,
    KMM, KTF, KSM and KST (individually, a &#147;Fund&#148; and
    collectively, the &#147;Funds&#148;). It tells you the proposal
    that will be voted on and the time and place of the joint annual
    meeting, in the event you choose to attend in person.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To the shareholders of the Funds:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    A joint annual meeting of the shareholders of each Fund will be
    held May&#160;28, 2009 at 1:30&#160;p.m. (Eastern time), at the
    New York Marriott East Side, 525 Lexington Avenue, New York, New
    York 10017 (the &#147;Meeting&#148;), to consider the following
    proposal (the &#147;Proposal&#148;):
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="18%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <B>PROPOSAL:</B> </TD>
    <TD align="left">
    To elect Board Members to the Board of each Fund as outlined
    below:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="25%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(A)&#160;</TD>
    <TD align="left">
    For DHG, KMM and KST only, to elect five Board Members to the
    Board of each Fund;&#160;and
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="25%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(B)&#160;</TD>
    <TD align="left">
    For KTF and KSM only, to elect six Board Members to the Board of
    each Fund, with four Board Members to be elected by the holders
    of Preferred and Common Shares voting together and two Board
    Members to be elected by holders of the Preferred Shares only.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The individuals named as proxies will vote in their discretion
    on any other business that properly may come before the Meeting
    or any adjournments or postponements thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Holders of record of shares of the Funds at the close of
    business on March&#160;31, 2009 are entitled to vote at the
    Meeting and at any adjournments or postponements thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>THE BOARD OF YOUR FUND&#160;RECOMMENDS THAT YOU VOTE
    <U>FOR</U> THE PROPOSAL&#160;TO ELECT EACH BOARD MEMBER.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In the event that the necessary quorum to transact business for
    a Fund is not obtained at the Meeting, the individuals named as
    proxies may propose one or more adjournments of a Fund&#146;s
    Meeting in accordance with applicable law to permit such further
    solicitation of proxies as may be deemed necessary or advisable.
    In addition, the By-Laws of DHG,
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    KMM and KST state that the Chairman of the Meeting may adjourn
    the meeting with respect to one or more matters to be considered
    at the meeting whether or not a quorum is present with respect
    to such matter(s).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    This notice and the related proxy material are being mailed to
    shareholders on or about April&#160;17, 2009. This proxy is
    being solicited on behalf of your Fund&#146;s Board.
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    By Order of the Board Members
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <IMG src="c50509cmillette.gif" alt="-s- John Millette">
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    John Millette
</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Secretary
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    April&#160;14, 2009
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>We urge you to mark, sign, date and mail the enclosed proxy
    card in the postage-paid envelope provided or to record your
    voting instructions by telephone or via the Internet so that you
    will be represented at the Meeting. If you complete and sign the
    proxy card (or tell us how you want to vote by voting by
    telephone or via the Internet), we will vote it exactly as you
    tell us. If you simply sign the proxy card, we will vote it in
    accordance with the Board&#146;s recommendation on the Proposal.
    Your prompt return of the enclosed proxy card (or your voting by
    telephone or via the Internet) may save the necessity and
    expense of further solicitations. If you have any questions,
    please call Georgeson Inc., your Fund&#146;s proxy solicitor, at
    the special toll-free number we have set up for you
    <FONT style="white-space: nowrap">(1-800-849-4134),</FONT>
    or contact your financial advisor.</B>
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">INSTRUCTIONS&#160;FOR
    SIGNING PROXY CARDS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following general rules for signing proxy cards may be of
    assistance to you and avoid the time and expense involved in
    validating your vote if you fail to sign your proxy card
    properly.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    1.&#160;
</TD>
    <TD align="left">    Individual Accounts: Sign your name exactly as it appears in the
    registration on the proxy card.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    2.&#160;
</TD>
    <TD align="left">    Joint Accounts: Both parties should sign, and the name(s) of the
    party or parties signing should conform exactly to the name(s)
    shown in the registration on the proxy card.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    3.&#160;
</TD>
    <TD align="left">    All Other Accounts: The capacity of the individual signing the
    proxy card should be indicated unless it is reflected in the
    form of registration. For example:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="64%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="34%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Registration</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Valid Signature</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Corporate Accounts
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    (1) ABC Corp
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    ABC Corp<BR>
    John Doe, Treasurer
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    (2) ABC Corp.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    John Doe, Treasurer
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    (3) ABC Corp.
    <FONT style="white-space: nowrap">c/o&#160;John</FONT>
    Doe, Treasurer
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    John Doe
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    (4) ABC Corp. Profit Sharing Plan
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    John Doe, Trustee
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Partnership Accounts
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    (1) The XYZ Partnership
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Jane B. Smith, Partner
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    (2) Smith and Jones, Limited Partnership
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Jane B. Smith, General Partner
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Trust&#160;Accounts
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    (1) ABC Trust&#160;Account
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Jane B. Doe, Trustee
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    (2) Jane B. Doe, Trustee u/t/d 12/28/78
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    Jane B. Doe
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    Custodial or Estate Accounts
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    (1) John B. Smith, Cust. F/b/o John B. Smith Jr.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    John B. Smith
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    GMA/UTMA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    (2) Estate of John B. Smith
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="bottom">
    John B. Smith, Jr., Executor
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">JOINT
    PROXY STATEMENT<BR>
    FOR THE JOINT ANNUAL MEETING OF SHAREHOLDERS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    April 14, 2009
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">GENERAL</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    This proxy statement (the &#147;Proxy Statement&#148;) is being
    furnished in connection with the solicitation of proxies by the
    Board Members of each of the DWS funds listed in the enclosed
    Notice of Joint Annual Meeting of Shareholders (each a
    &#147;Fund&#148; and collectively, the &#147;Funds&#148;), for
    the annual meeting of each Fund to be held jointly at the New
    York Marriott East Side, 525 Lexington Avenue, New York, New
    York 10017 on May&#160;28, 2009 at 1:30&#160;p.m. (Eastern
    time), and at any and all adjournments or postponements thereof
    (the &#147;Meeting&#148;), at which shareholders will be asked
    to consider the proposal (the &#147;Proposal&#148;). The
    principal executive address of the Funds is 345 Park Avenue, New
    York, New&#160;York&#160;10154.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    This Proxy Statement, along with the enclosed Notice of Joint
    Annual Meeting of Shareholders and the accompanying proxy cards
    (the &#147;Proxy&#160;Card&#148;), is being mailed to
    shareholders on or about April&#160;17, 2009. It explains what
    you should know before voting on the matter described herein.
    Please read it carefully and keep it for future reference.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The term &#147;Board,&#148; as used herein, refers to a board of
    trustees/directors of a Fund. The term &#147;Board Member,&#148;
    as used herein, refers to a person who serves as a trustee or
    director of a Fund (a &#147;Trustee&#148; or
    &#147;Director&#148;).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Meeting is being held to consider and to vote on the
    following Proposal for the Funds, as indicated below and as
    described more fully herein, and such other matters as properly
    may come before the Meeting:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="18%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <B>PROPOSAL:</B> </TD>
    <TD align="left">
    To elect Board Members to the Board of each Fund as outlined
    below:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="25%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(A)&#160;</TD>
    <TD align="left">
    For DHG, KMM and KST only, to elect five Board Members to the
    Board of each Fund;&#160;and
</TD>
</TR>

</TABLE>

<DIV align="left" style="margin-left: 25%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="25%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(B)&#160;</TD>
    <TD align="left">
    For KTF and KSM only, to elect six Board Members to the Board of
    each Fund, with four Board Members to be elected by the holders
    of Preferred and Common Shares voting together and two Board
    Members to be elected by holders of the Preferred Shares only.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>The Board of each Fund recommends that shareholders vote</B>
</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B><U>FOR</U> the Proposal.</B>
</DIV>

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV><!-- END PAGE WIDTH -->
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The vote required to approve the Proposal is described under
    &#147;Proposal- Election of Board Members&#160;&#151; Required
    Vote&#148; and &#147;Additional Information&#160;&#151; Quorum
    and Required Vote.&#148;
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The appointed proxies will vote in their discretion on any other
    business that properly may come before the Meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>The most recent Annual Report of each Fund, containing
    audited financial statements for the applicable fiscal years (a
    &#147;Report&#148;), previously has been furnished to each
    Fund&#146;s shareholders. An additional copy of a Report will be
    furnished without charge upon request by writing to a Fund at
    222 South Riverside Plaza, Chicago, Illinois
    <FONT style="white-space: nowrap">60606-5808,</FONT>
    or by calling
    <FONT style="white-space: nowrap">1-800-349-4281.</FONT>
    Reports also are available on the DWS website at
    <U>www.dws-investments.com</U> or at the website of the
    Securities and Exchange Commission (the &#147;SEC&#148;) at
    <U>www.sec.gov.</U></I>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    2
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">PROPOSAL<BR>
    ELECTION OF BOARD MEMBERS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Shareholders of each Fund are being asked to elect Board Members
    to the Board of their Fund as described below.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>For KMM and KST only.</B> Board Members are elected pursuant
    to each Fund&#146;s Amended and Restated Agreement and
    Declaration of Trust and Amended and Restated By-Laws. In March
    2009, the By-Laws of each Fund were amended, in part, to provide
    for the division of the Board into classes. Pursuant to the
    amended By-Laws, the Board Members of each Fund classified
    themselves by resolution dated March&#160;11, 2009 into three
    classes as follows: Ms.&#160;Dawn-Marie Driscoll and
    Messrs.&#160;Keith R. Fox, Richard J. Herring, William N. Searcy
    and Robert H. Wadsworth were designated as Class&#160;I Board
    Members, each to serve until the annual meeting of shareholders
    in 2009 and until the election and qualification of a successor
    or until such Board Member sooner dies, resigns, retires or is
    removed; Ms.&#160;Jean Gleason Stromberg and Messrs.&#160;Henry
    P. Becton Jr., Paul K. Freeman and William McClayton were
    designated as Class&#160;II Board Members, each to serve until
    the annual meeting of shareholders in 2010 and until the
    election and qualification of a successor or until such Board
    Member sooner dies, resigns, retires or is removed; and
    Ms.&#160;Rebecca W. Rimel and Messrs.&#160;John W. Ballantine,
    Kenneth C. Froewiss and Axel Schwarzer were designated as
    Class&#160;III Board Members, each to serve until the annual
    meeting of shareholders in 2011 and until the election and
    qualification of a successor or until such Board Member sooner
    dies, resigns, retires or is removed.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    At each annual meeting beginning with this Meeting, the Class of
    Board Members elected at such meeting will be elected to hold
    office until the annual meeting held in the third succeeding
    year and until the election and qualification of such Board
    Member&#146;s successor, if any, or until such Board Member
    sooner dies, resigns, retires or is removed.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    At the Meeting, five (5)&#160;Class&#160;I Board Members are to
    be elected by shareholders of a Fund, each to hold office until
    the annual meeting of shareholders in 2012 and until such Board
    Member&#146;s successor has been duly elected and qualified or
    until such Board Member sooner dies, resigns, retires or is
    removed. The Class&#160;I Board Member nominees for election at
    the Meeting are: Ms.&#160;Driscoll and Messrs.&#160;Fox,
    Herring, Searcy and Wadsworth.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>For KTF and KSM only.</B> Board Members are elected pursuant
    to each Fund&#146;s Amended and Restated Agreement and
    Declaration of Trust and Amended and Restated By-Laws. Pursuant
    to the Amended and Restated Agreement and Declaration of Trust
    of each Fund, each Board may authorize separate classes of
    shares of beneficial interest. The Board of each Fund has
    authorized, and each Fund has issued, common shares of
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    3
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    beneficial interest (the &#147;Common Shares&#148;) and
    preferred shares of beneficial interest (the &#147;Preferred
    Shares&#148;). The Common Shares and the Preferred Shares have
    different powers, rights, preferences and privileges,
    qualifications, limitations and restrictions with respect to,
    among other things, dividends, liquidation, redemption and
    voting as more fully set forth in the Certificate of Designation
    for Preferred Shares that established the Preferred Shares. For
    KTF, the Common Shares were first issued on October&#160;20,
    1988 and the Preferred Shares were first issued on July&#160;24,
    1989 (Series&#160;A, B, C and D)&#160;and November&#160;24, 1999
    (Series&#160;E). For KSM, the Common Shares were first issued on
    March&#160;22, 1989 and the Preferred Shares were first issued
    on September&#160;21, 1999. At the Meeting, the holders of the
    Preferred Shares, voting as a separate class, are entitled to
    elect two Board Members, and the holders of the Common Shares
    and the Preferred Shares, voting together as a single class, are
    entitled to elect four Board Members (as described below).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In March 2009, the By-Laws of each Fund were amended, in part,
    to provide for the division of the Board into classes. Pursuant
    to the amended By-Laws, the Board Members of each Fund
    classified themselves by resolution dated March&#160;11, 2009
    into three classes as follows: Ms.&#160;Dawn-Marie Driscoll and
    Messrs.&#160;Keith R. Fox, Richard J. Herring and William N.
    Searcy were designated as Class&#160;I Board Members, each to
    serve until the annual meeting of shareholders in 2009 and until
    the election and qualification of a successor or until such
    Board Member sooner dies, resigns, retires or is removed;
    Ms.&#160;Jean Gleason Stromberg and Messrs.&#160;Henry P. Becton
    Jr., Paul K. Freeman and William McClayton were designated as
    Class&#160;II Board Members, each to serve until the annual
    meeting of shareholders in 2010 and until the election and
    qualification of a successor or until such Board Member sooner
    dies, resigns, retires or is removed; and Ms.&#160;Rebecca W.
    Rimel and Messrs.&#160;John W. Ballantine and Kenneth C.
    Froewiss were designated as Class&#160;III Board Members, each
    to serve until the annual meeting of shareholders in 2011 and
    until the election and qualification of a successor or until
    such Board Member sooner dies, resigns, retires or is removed.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    At each annual meeting beginning with this Meeting, the Class of
    Board Members elected at such meeting by holders of the Common
    Shares and Preferred Shares voting together will be elected to
    hold office until the annual meeting held in the third
    succeeding year and until the election and qualification of such
    Board Member&#146;s successor, if any, or until such Board
    Member sooner dies, resigns, retires or is removed. The Board
    Members elected by the holders of the Preferred Shares, voting
    as a separate class, will continue to be elected to hold office
    until the next annual meeting and until the election and
    qualification of such Board Member&#146;s successor, if any, or
    until such Board Member sooner dies, resigns, retires or is
    removed.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    4
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    At the Meeting, four (4)&#160;Class&#160;I Board Members are to
    be elected by a Fund&#146;s Common Shares and Preferred Shares
    voting together, each to hold office until the annual meeting of
    shareholders in 2012 and until such Board Member&#146;s
    successor has been duly elected and qualified or until such
    Board Member sooner dies, resigns, retires or is removed; and
    two (2)&#160;Board Members are to be elected, by a Fund&#146;s
    Preferred Shares voting as a separate class, each to hold office
    until the annual meeting of shareholders in 2010 and until such
    Board Member&#146;s successor has been duly elected and
    qualified or until such Board Member sooner dies, resigns,
    retires or is removed. The Class&#160;I Board Member nominees
    for election at the Meeting are: Ms.&#160;Driscoll and
    Messrs.&#160;Fox, Herring and Searcy. The Preferred Board Member
    Nominees for election at the Meeting are: Messrs.&#160;Schwarzer
    and Wadsworth.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>For DHG only.</B> Pursuant to DHG&#146;s Articles of
    Amendment and Restatement and By-Laws, the Board Members of DHG
    have been divided into three classes with each Class&#146; Board
    Members being elected to serve until the third succeeding annual
    meeting subsequent to their election. At the Meeting, five
    (5)&#160;Class&#160;II Board Members are to be elected by
    shareholders of the Fund for a term expiring at the annual
    meeting of shareholders in 2012 or until their successors have
    been duly elected and qualified. The Class&#160;II Board Member
    nominees for election at the Meeting are: Ms.&#160;Driscoll and
    Messrs.&#160;Fox, Herring, Searcy and Wadsworth.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The individuals nominated for election as Board Members of each
    Fund at the Meeting (the &#147;Board Member Nominees&#148;),
    were nominated by the Fund&#146;s present Board. The Board
    Member Nominees are currently Board Members of each Fund, and
    are currently Board Members of other DWS funds advised by
    Deutsche Investment Management Americas Inc. (&#147;DIMA&#148;
    or the &#147;Advisor&#148;). All the Board Member Nominees were
    last selected to each Fund&#146;s Board, except DHG, at the
    previous annual meeting of shareholders in 2008. For DHG, all
    the Board Member Nominees, except Mr.&#160;Wadsworth, were last
    selected to DHG&#146;s Board at the previous annual meeting of
    shareholders in 2008. Mr.&#160;Wadsworth was appointed to the
    Board of DHG as a Class&#160;II Board Member in October 2006 by
    the Fund&#146;s initial Board Member.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    It is the intention of the persons named in the enclosed proxy
    to vote the shares represented thereby for the election of the
    Board Member Nominees unless the proxy is marked otherwise. Each
    of the Board Member Nominees has agreed to serve as a Board
    Member of a Fund if elected. However, should any Board Member
    Nominee become unable or unwilling to accept nomination for
    election, the proxies will be voted for substitute nominees, if
    any, designated by a Fund&#146;s present Board.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Information is provided below as of April&#160;1, 2009 for each
    Board Member Nominee for election at the Meeting and other Board
    Members. All of the Board Member Nominees, except
    Mr.&#160;Schwarzer, would be &#147;non-
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    5
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    interested&#148; Board Members, as that term is used in the
    Investment Company Act of 1940 (&#147;Independent Board
    Members&#148;). Mr.&#160;Schwarzer, CEO of DWS Investments,
    would be an &#147;interested&#148; Board Member by virtue of his
    positions with Deutsche Asset Management (&#147;DeAM&#148;).
    Each Board Member Nominee has indicated a willingness to serve
    if elected.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Unless otherwise noted, each Board Member has engaged in the
    principal occupation(s) noted in the table for at least the most
    recent five years, although not necessarily in the same capacity.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Independent
    Board Members</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="28%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="45%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="22%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Position with the<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>DWS Funds and<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Length of Time<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Name and<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Business Experience and<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Served;<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>

    and<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Year of
    Birth<SUP style="font-size: 85%; vertical-align: top">(1)</SUP></B>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Directorships During the Past 5 Years</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Term of Office</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>John W. Ballantine </B>(1946)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Retired; formerly: Executive Vice President and Chief Risk
    Management Officer, First Chicago NBD Corporation/The First
    National Bank of Chicago (1996-1998); Executive Vice President
    and Head of International Banking (1995-1996); Directorships:
    Healthways Inc. (provider of disease and care management
    services); Portland General Electric (utility company);
    Stockwell Capital Investments PLC (private equity); former
    Directorships: First Oak Brook Bancshares, Inc. and Oak Brook
    Bank
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since
    1999;<SUP style="font-size: 85%; vertical-align: top">(4)</SUP>

    and Term: as a Class I or Class&#160;III Board Member until 2011.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 8pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Henry P. Becton, Jr. </B>(1943)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Vice Chair, WGBH Educational Foundation; Directorships:
    Association of Public Television Stations; Becton Dickinson and
    Company (medical technology company); Belo Corporation (media
    company); Boston Museum of Science; Public Radio International;
    PRX, The Public Radio Exchange; The PBS Foundation; former
    Directorships: American Public Television; Concord Academy; New
    England Aquarium; Mass. Corporation for Educational
    Telecommunications; Committee for Economic Development; Public
    Broadcasting Service
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since
    1990;<SUP style="font-size: 85%; vertical-align: top">(4)</SUP>

    and Term: as a Class&#160;II or Class&#160;III Board Member
    until 2010.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    6
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="28%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="45%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="22%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Position with the<BR>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    DWS Funds and<BR>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Length of Time<BR>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Name and<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Business Experience and<BR>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Served;<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>

    and<BR>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Year of
    Birth<SUP style="font-size: 85%; vertical-align: top">(1)</SUP></B>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    Directorships During the Past 5 Years
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    Term of Office
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Dawn-Marie Driscoll </B>(1946)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    President, Driscoll Associates (consulting firm); Executive
    Fellow, Center for Business Ethics, Bentley University;
    formerly: Partner, Palmer &#038; Dodge (1988-1990); Vice
    President of Corporate Affairs and General Counsel,
    Filene&#146;s (1978-1988); Directorships: Trustee of 20 open-end
    mutual funds managed by Sun Capital Advisers, Inc. (since 2007);
    Director of ICI Mutual Insurance Company (since 2007); Advisory
    Board, Center for Business Ethics, Bentley University; Trustee,
    Southwest Florida Community Foundation (charitable
    organization); former Directorships: Investment Company
    Institute (audit, executive, nominating committees) and
    Independent Directors Council (governance, executive committees)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since
    1987;<SUP style="font-size: 85%; vertical-align: top">(3)</SUP>

    and Term: as a Class I or Class&#160;II Board Member until 2009.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 8pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Keith R. Fox<BR>
    </B>(1954)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Managing General Partner, Exeter Capital Partners (a series of
    private equity funds); Directorships: Progressive Holding
    Corporation (kitchen goods importer and distributor); Natural
    History, Inc. (magazine publisher); Box Top Media Inc.
    (advertising); The Kennel Shop (retailer)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since
    1996;<SUP style="font-size: 85%; vertical-align: top">(3)</SUP>

    and Term: as a Class I or Class&#160;II Board Member until 2009.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 8pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Paul K. Freeman </B>(1950)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Consultant, World Bank/Inter-American Development Bank;
    Governing Council of the Independent Directors Council
    (governance, executive committees); formerly: Project Leader,
    International Institute for Applied Systems Analysis
    (1998-2001); Chief Executive Officer, The Eric Group, Inc.
    (environmental insurance) (1986-1998)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since
    2002;<SUP style="font-size: 85%; vertical-align: top">(4)</SUP>

    Chairperson since 2009; and Term:  as a Class&#160;II or
    Class&#160;III Board Member until 2010.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 8pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Kenneth C. Froewiss </B>(1945)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Clinical Professor of Finance, NYU Stern School of Business
    (1997-present); Member, Finance Committee, Association for Asian
    Studies (2002-present); Director, Mitsui Sumitomo Insurance
    Group (US) (2004-present); prior thereto, Managing Director,
    J.P.&#160;Morgan (investment banking firm) (until 1996)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since
    2001;<SUP style="font-size: 85%; vertical-align: top">(4)</SUP>

    and Term: as a Class I or Class&#160;III Board Member until 2011.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    7
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="28%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="45%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="22%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Position with the<BR>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    DWS Funds and<BR>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Length of Time<BR>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Name and<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Business Experience and<BR>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Served;<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>

    and<BR>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Year of
    Birth<SUP style="font-size: 85%; vertical-align: top">(1)</SUP></B>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    Directorships During the Past 5 Years
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    Term of Office
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Richard J. Herring </B>(1946)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Jacob Safra Professor of International Banking and Professor,
    Finance Department, The Wharton School, University of
    Pennsylvania (since July 1972); Co-Director, Wharton Financial
    Institutions Center (since July 2000); Director, Japan Equity
    Fund, Inc. (since September 2007), Thai Capital Fund, Inc.
    (since September 2007), Singapore Fund, Inc. (since September
    2007); formerly: Vice Dean and Director, Wharton Undergraduate
    Division (July&#160;1995-June 2000); Director, Lauder Institute
    of International Management Studies (July 2000-June 2006)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since
    1990;<SUP style="font-size: 85%; vertical-align: top">(3)</SUP>

    and Term: as a Class I or Class&#160;II Board Member until 2009.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 8pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>William McClayton </B>(1944)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Managing Director, Diamond Management &#038; Technology
    Consultants, Inc. (global management consulting firm)
    (2001-present); Directorship: Board of Managers, YMCA of
    Metropolitan Chicago; formerly: Senior Partner, Arthur Andersen
    LLP (accounting) (1966-2001); Trustee, Ravinia Festival
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since
    2004;<SUP style="font-size: 85%; vertical-align: top">(4)</SUP>

    and Term: as a Class&#160;II or Class&#160;III Board Member
    until 2010.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 8pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Rebecca W. Rimel </B>(1951)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    President and Chief Executive Officer, The Pew Charitable Trusts
    (charitable organization) (1994 to present); Trustee, Thomas
    Jefferson Foundation (charitable organization) (1994 to
    present); Trustee, Executive Committee, Philadelphia Chamber of
    Commerce (2001 to 2007); Trustee, Pro Publica (2007-present)
    (charitable organization); formerly: Executive Vice President,
    The Glenmede Trust Company (investment trust and wealth
    management) (1983 to 2004); Board Member, Investor Education
    (charitable organization) (2004-2005); Director, Viasys Health
    Care (January 2007-June 2007)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since
    1995;<SUP style="font-size: 85%; vertical-align: top">(4)</SUP>

    and Term: as a Class I or Class&#160;III Board Member until 2011.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 8pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>William N. Searcy, Jr. </B>(1946)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Private investor since October 2003; Trustee of 20 open-end
    mutual funds managed by Sun Capital Advisers, Inc. (since
    October 1998); formerly: Pension &#038; Savings Trust Officer,
    Sprint Corporation (telecommunications) (November 1989-September
    2003)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since
    1993;<SUP style="font-size: 85%; vertical-align: top">(3)</SUP>

    and Term: as a Class I or Class&#160;II Board Member until 2009.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    8
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="28%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="45%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="22%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Position with the<BR>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    DWS Funds and<BR>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Length of Time<BR>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Name and<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Business Experience and<BR>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Served;<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>

    and<BR>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Year of
    Birth<SUP style="font-size: 85%; vertical-align: top">(1)</SUP></B>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    Directorships During the Past 5 Years
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    Term of Office
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Jean Gleason Stromberg<BR>
    </B>(1943)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Retired; formerly: Consultant (1997-2001); Director, US
    Government Accountability Office (1996-1997); Partner, Fulbright
    &#038; Jaworski, L.L.P. (law firm) (1978-1996); Directorships:
    The William and Flora Hewlett Foundation; Business Leadership
    Council, Wellesley College; former Directorships: Service
    Source, Inc., Mutual Fund Directors Forum (2002-2004), American
    Bar Retirement Association (funding vehicle for retirement
    plans) (1987-1990 and
    <FONT style="white-space: nowrap">1994-1996)</FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since
    1997;<SUP style="font-size: 85%; vertical-align: top">(4)</SUP>

    and Term: as a Class&#160;II or Class&#160;III Board Member
    until 2010.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 8pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Robert H. Wadsworth </B>(1940)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    President, Robert H. Wadsworth &#038; Associates, Inc.
    (consulting firm) (1983 to present); Director, The Phoenix Boys
    Choir Association
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since
    2004;<SUP style="font-size: 85%; vertical-align: top">(3)</SUP>

    and Term: Annual or as a Class I or Class&#160;II Board Member
    until 2009.
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Interested
    Board Member</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="26%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="46%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="23%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Position with the<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>DWS Funds and<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Length of Time<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Name and<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Business Experience and<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Served;<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>

    and<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Year of
    Birth<SUP style="font-size: 85%; vertical-align: top">(1)</SUP></B>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Directorships During the Past 5 Years</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Term of Office</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Axel Schwarzer </B>(1958)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Managing Director, Deutsche Asset Management; Head of Deutsche
    Asset Management Americas; CEO of DWS Investments; formerly:
    board member of DWS Investments, Germany (1999-2005); Head of
    Sales and Product Management for the Retail and Private Banking
    Division of Deutsche Bank in Germany (1997-1999); various
    strategic and operational positions for Deutsche Bank Germany
    Retail and Private Banking Division in the field of investment
    funds, tax driven instruments and asset management for
    corporates (1989-1996)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since
    2006;<SUP style="font-size: 85%; vertical-align: top">(3)</SUP>

    and Term: Annual or as a Class I or Class&#160;III Board Member
    until 2011.
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 19%;  align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=311 length=60 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt"><SUP style="font-size: 85%; vertical-align: top">(1)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Unless otherwise indicated, the
    mailing address of each Board Member is
    <FONT style="white-space: nowrap">c/o&#160;Dawn-Marie</FONT>
    Driscoll, P.O.&#160;Box&#160;100176, Cape Coral, FL 33904. The
    mailing address of Axel Schwarzer is
    <FONT style="white-space: nowrap">c/o&#160;Deutsche</FONT>
    Investment Management Americas Inc., 345 Park Avenue, New York,
    New York 10154.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt"><SUP style="font-size: 85%; vertical-align: top">(2)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Each Board Member, except
    Mr.&#160;Wadsworth, currently oversees 133 funds in the DWS
    funds complex. Mr.&#160;Wadsworth currently oversees 136 funds
    in the DWS funds complex.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt"><SUP style="font-size: 85%; vertical-align: top">(3)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">The length of time served
    represents the year in which the Board Member joined the Board
    of one or more DWS funds currently overseen by the Board.
    </FONT></TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    9
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    As reported to the Funds, Exhibit&#160;A to this Proxy Statement
    sets forth the dollar range of securities beneficially owned and
    the amount of shares beneficially owned by each Board Member in
    each Fund as of March&#160;31, 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Under its Board Governance Policies, each Board has established
    the expectation that within three years of becoming a Board
    Member, a Board Member will have invested in the aggregate at
    least $200,000 in the DWS funds.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Officers</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The officers of each Fund are set forth in Exhibit&#160;B hereto.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Compensation
    of Board Members and Officers</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each Independent Board Member receives compensation from the
    Funds for his or her services, which includes retainer fees and
    specified amounts for various committee services and for the
    Board Chairperson. No additional compensation is paid to any
    Independent Board Member for travel time to meetings, attendance
    at directors&#146; educational seminars or conferences, service
    on industry or association committees, participation as speakers
    at directors&#146; conferences or service on special fund
    industry director task forces or subcommittees. Independent
    Board Members do not receive any employee benefits such as
    pension or retirement benefits or health insurance from the
    Funds or any fund in the DWS fund complex.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Board Members and Fund officers who are officers, directors,
    employees or stockholders of Deutsche Asset Management or its
    affiliates receive no direct compensation from the Funds,
    although they are compensated as employees of Deutsche Asset
    Management, or its affiliates, and as a result may be deemed to
    participate in fees paid by the Funds. Deutsche Asset Management
    is the marketing name in the US for the asset management
    activities of Deutsche Bank AG, DIMA, Deutsche Bank
    Trust&#160;Company Americas and DWS Trust&#160;Company.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Exhibit&#160;C to this Proxy Statement sets forth compensation
    paid to each Board Member by each Fund for its most recently
    completed fiscal year and to each Board Member by the DWS funds
    complex for the calendar year ended December&#160;31, 2008.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Certain
    Indemnification Arrangements</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In addition to indemnification rights provided by the governing
    instruments of each Fund, Board Members may be eligible to seek
    indemnification from DIMA in connection with certain matters as
    follows. In connection with litigation or regulatory action
    related to possible improper market timing or other improper
    trading activity or possible
</DIV>

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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    improper marketing and sales activity in certain DWS funds (the
    &#147;Affected Funds&#148;), DIMA has agreed to indemnify and
    hold harmless the Affected Funds
    (&#147;Fund&#160;Indemnification Agreement&#148;) against any
    and all loss, damage, liability and expense, arising from market
    timing or marketing and sales matters alleged in any enforcement
    actions brought by governmental authorities involving or
    potentially affecting the Affected Funds or DIMA
    (&#147;Enforcement Actions&#148;) or that are the basis for
    private actions brought by shareholders of the Affected Funds
    against the Affected Funds, their directors and officers, DIMA
    <FONT style="white-space: nowrap">and/or</FONT>
    certain other parties (&#147;Private Litigation&#148;), or any
    proceedings or actions that may be threatened or commenced in
    the future by any person (including governmental authorities),
    arising from or similar to the matters alleged in the
    Enforcement Actions or Private Litigation. In recognition of its
    undertaking to indemnify the Affected Funds and in light of the
    rebuttable presumption generally afforded to independent
    directors/trustees of investment companies that they have not
    engaged in disabling conduct, DIMA has also agreed, subject to
    applicable law and regulation, to indemnify certain (or, with
    respect to certain Affected Funds, all) of the Independent Board
    Members of the Affected Funds, against certain liabilities the
    Independent Board Members may incur from the matters alleged in
    any Enforcement Actions or Private Litigation or arising from or
    similar to the matters alleged in the Enforcement Actions or
    Private Litigation, and advance expenses that may be incurred by
    the Independent Board Members in connection with any Enforcement
    Actions or Private Litigation. DIMA is not, however, required to
    provide indemnification and advancement of expenses:
    (1)&#160;with respect to any proceeding or action which the
    Affected Funds&#146; Board determines that the Independent Board
    Members ultimately would not be entitled to indemnification or
    (2)&#160;for any liability of the Independent Board Members to
    the Funds or their shareholders to which the Independent Board
    Member would otherwise be subject by reason of willful
    misfeasance, bad faith, gross negligence or reckless disregard
    of the Independent Board Member&#146;s duties as a director or
    trustee of the Affected Funds as determined in a final
    adjudication in such action or proceeding. The estimated amount
    of any expenses that may be advanced to the Independent Board
    Members or indemnity that may be payable under the indemnity
    agreements is currently unknown. These agreements by DIMA will
    survive the termination of the investment management agreements
    between DIMA and the Affected Funds.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Board
    Structure</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The primary responsibility of each Fund&#146;s Board is to
    represent the interests of the Fund and to provide oversight of
    the management of the Fund. If the Board Member Nominees are
    elected by shareholders, each Board will be comprised of one
    individual who would be an interested Board Member, and twelve
    individuals who would be Independent Board Members. SEC
</DIV>

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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    rules currently require a majority of the board members of a
    fund to be &#147;independent&#148; if the fund takes advantage
    of certain exemptive rules under the 1940 Act. If the proposed
    Board Member Nominees are elected by shareholders, 92% will be
    Independent Board Members. Each of the Board Member Nominees
    that will be considered an Independent Board Member, if elected,
    has been selected and nominated solely by the current
    Independent Board Members of each Fund.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each Fund&#146;s Board meets multiple times during the year to
    review investment performance and other operational matters,
    including regulatory and compliance related policies and
    procedures. Furthermore, the Independent Board Members review
    the fees paid to the Advisor and its affiliates for investment
    advisory services and other services. Each Board has adopted
    specific policies and guidelines that, among other things, seek
    to further enhance the effectiveness of the Independent Board
    Members in performing their duties. For example, the Independent
    Board Members select independent legal counsel to work with them
    in reviewing fees, advisory and other contracts and overseeing
    fund matters, and regularly meet privately with their counsel.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    During calendar year 2008, the Boards of KSM and KST each met
    seven times and the Boards of DHG, KMM and KTF each met eight
    times. Each Board Member attended at least 75% of the respective
    meetings of the Boards and the Committees (if a member thereof)
    held during calendar year 2008.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board of each Fund provides a process for shareholders to
    send communications to the Board. Correspondence should be sent
    by U.S.&#160;mail or courier service to Dawn-Marie Driscoll,
    P.O.&#160;Box&#160;100176, Cape Coral, FL 33904, who will
    forward it to a specific Board Member if addressed to that Board
    Member.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Dr.&#160;Freeman has served as Chairperson of the Board of each
    Fund since January&#160;1, 2009. He was elected for an initial
    three year term ending December&#160;31, 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board of each Fund has established the following standing
    committees: Audit Committee, Nominating and Governance
    Committee, Contract Committee, Equity Oversight Committee (for
    DHG only), Fixed-Income and Quant Oversight Committee,
    Operations Committee and Marketing and Shareholder Services
    Committee (each a &#147;Committee&#148;). For each Committee, a
    written charter setting forth the Committee&#146;s
    responsibilities was adopted by each Board. The function,
    membership and number of meetings held in calendar year 2008 for
    each Committee is discussed below. All Committee members are
    Independent Board Members.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Audit Committee.</B> The Audit Committee, which consists
    entirely of Independent Board Members, assists the Board in
    fulfilling its responsibility
</DIV>

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    12
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    for oversight of (1)&#160;the integrity of the financial
    statements, (2)&#160;a Fund&#146;s accounting and financial
    reporting policies and procedures, (3)&#160;a Fund&#146;s
    compliance with legal and regulatory requirements related to
    accounting and financial reporting and (4)&#160;the
    qualifications, independence and performance of the independent
    registered public accounting firm for a Fund. It also approves
    and recommends to the Board the appointment, retention or
    termination of the independent registered public accounting firm
    for a Fund, reviews the scope of audit and internal controls,
    considers and reports to the Board on matters relating to a
    Fund&#146;s accounting and financial reporting practices, and
    performs such other tasks as the full Board deems necessary or
    appropriate. The Audit Committee receives annual representations
    from the independent registered public accounting firm as to its
    independence. Each Fund&#146;s Audit Committee is governed by
    the Audit Committee Charter, a copy of which is attached as
    Exhibit&#160;D. Each Fund&#146;s Audit Committee is comprised of
    only Independent Board Members who are &#147;independent&#148;
    as defined in the New York Stock Exchange (&#147;NYSE&#148;) and
    the Chicago Stock Exchange (&#147;CHX&#148;) listing standards
    applicable to closed-end funds. During the calendar year 2008,
    the Audit Committee of each Fund&#146;s Board held six
    (6)&#160;meetings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For the 2008 fiscal year, each Fund&#146;s Audit Committee
    reviewed and discussed the audited financial statements with
    management. Each Fund&#146;s Audit Committee also discussed with
    the independent registered public accounting firm the matters
    required to be discussed by Statement on Auditing Standards
    No.&#160;61 (Communications with Audit Committees). Each
    Fund&#146;s independent registered public accounting firm
    provided the Fund&#146;s Audit Committee the written disclosure
    required by Independence Standards Board Standard No.&#160;1
    (Independence Discussions with Audit Committees), and the
    Fund&#146;s Audit Committee discussed with representatives of
    the independent registered public accounting firm their
    firm&#146;s independence, including the matters described
    beginning on page&#160;16. Based on its review of each
    Fund&#146;s financial statements and discussions with management
    and the independent registered public accounting firm and other
    written disclosure provided by the independent registered public
    accounting firm, the Fund&#146;s Audit Committee recommended to
    the Fund&#146;s Board that the audited financial statements be
    included in the annual report provided to shareholders for the
    Fund&#146;s 2008 fiscal year. The current members of each
    Fund&#146;s Audit Committee are:
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    William McClayton (Chair)
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Kenneth C. Froewiss (Vice Chair)
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    John W. Ballantine
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Henry P. Becton, Jr.
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Keith R. Fox
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    William N. Searcy, Jr.
</DIV>

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    <BR>
    13
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Nominating and Governance Committee.</B> The Nominating and
    Governance Committee, which consists entirely of Independent
    Board Members, recommends individuals for membership on the
    Board, nominates officers, Board and committee chairs, vice
    chairs and committee members, and oversees the operations of the
    Board. The Nominating and Governance Committee also reviews
    recommendations by shareholders for candidates for Board
    positions. Shareholders may recommend candidates for Board
    positions by forwarding their correspondence by US mail or
    courier service to Dawn-Marie Driscoll,
    P.O.&#160;Box&#160;100176, Cape Coral, FL 33904. Each
    Fund&#146;s Nominating and Governance Committee is governed by
    the Nominating and Governance Committee Charter, a copy of which
    is attached as Exhibit&#160;E. Each Fund&#146;s Nominating and
    Governance Committee is comprised of only Independent Board
    Members who are &#147;independent&#148; as defined in the NYSE
    and the CHX listing standards applicable to closed-end funds.
    The members of the Nominating and Governance Committee are Henry
    P. Becton,&#160;Jr. (Chair), Rebecca W. Rimel (Vice Chair), Paul
    K. Freeman and William McClayton. During the calendar year 2008,
    the Nominating and Governance Committee of each Fund&#146;s
    Board held five (5)&#160;meetings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Contract Committee.</B> The Contract Committee, which
    consists entirely of Independent Board Members, reviews at least
    annually, (a)&#160;a Fund&#146;s financial arrangements with
    DIMA and its affiliates, and (b)&#160;a Fund&#146;s expense
    ratios. The members of the Contract Committee are Robert H.
    Wadsworth (Chair), Keith R. Fox (Vice Chair), Henry P.
    Becton,&#160;Jr., Richard J. Herring, William McClayton and Jean
    Gleason Stromberg. During the calendar year 2008, the Contract
    Committee of each Fund&#146;s Board held seven (7)&#160;meetings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Fixed-Income and Quant Oversight Committee.</B> The
    Fixed-Income and Quant Oversight Committee reviews the
    investment operations of those funds that primarily invest in
    fixed-income securities or are managed by a quantitative
    investment team. The members of the Fixed-Income and Quant
    Oversight Committee are William N. Searcy,&#160;Jr. (Chair),
    Jean Gleason Stromberg (Vice Chair), Dawn-Marie Driscoll,
    Kenneth C. Froewiss and Robert H. Wadsworth. During the calendar
    year 2008, the Fixed-Income Oversight Committee of each
    Fund&#146;s Board held five&#160;(5)&#160;meetings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Equity Oversight Committee (for DHG only).</B> The Equity
    Oversight Committee reviews the investment operations of those
    funds that primarily invest in equity securities. The members of
    the Equity Oversight Committee are John W. Ballantine (Chair),
    William McClayton (Vice Chair), Henry P. Becton,&#160;Jr., Keith
    R. Fox, Richard J. Herring and Rebecca W. Rimel. During the
    calendar year 2008, the Equity Oversight Committee of DHG&#146;s
    Board held five (5)&#160;meetings.
</DIV>

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    <BR>
    14
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Operations Committee.</B> The Operations Committee reviews
    the administrative operations, legal affairs and general
    compliance matters of a Fund. The Operations Committee reviews
    administrative matters related to the operations of a Fund,
    policies and procedures relating to portfolio transactions,
    custody arrangements, fidelity bond and insurance arrangements,
    valuation of Fund assets and securities and such other tasks as
    the full Board deems necessary or appropriate. The Operations
    Committee also oversees the valuation of a Fund&#146;s
    securities and other assets and determines, as needed, the fair
    value of Fund securities or other assets under certain
    circumstances as described in a Fund&#146;s Valuation
    Procedures. The Operations Committee has appointed a Valuation
    <FONT style="white-space: nowrap">Sub-Committee,</FONT>
    which may make determinations of fair value required when the
    Operations Committee is not in session. The members of the
    Operations Committee are Dawn-Marie Driscoll (Chair), John W.
    Ballantine (Vice Chair), Kenneth C. Froewiss, Rebecca W. Rimel
    and William N. Searcy,&#160;Jr. The members of the Valuation
    Sub-Committee are Kenneth C. Froewiss (Chair), John W.
    Ballantine, Dawn-Marie Driscoll (Alternate), Rebecca W. Rimel
    (Alternate) and William N. Searcy,&#160;Jr. (Alternate). During
    the calendar year 2008, the Operations Committee held five
    (5)&#160;meetings and the Valuation Sub-Committee held no
    meetings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Marketing and Shareholder Services Committee.</B> The
    Marketing and Shareholder Services Committee reviews a
    Fund&#146;s marketing program, sales practices and literature
    and shareholder services. The members of the Marketing and
    Shareholder Services Committee are Richard J. Herring (Chair),
    Dawn-Marie Driscoll (Vice Chair), Rebecca W. Rimel, Jean Gleason
    Stromberg and Robert H. Wadsworth. During the calendar year
    2008, the Marketing/Distribution/Shareholder Service Committee
    of each Fund&#146;s Board held four (4)&#160;meetings.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Ad Hoc Committees.</B> In addition to the standing committees
    described above, from time to time the Board may also form ad
    hoc committees to consider specific issues.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Required
    Vote</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each Fund will vote separately on the election of Board Member
    Nominees. For DHG, KMM and KST only, the election of a Board
    Member Nominee requires the affirmative vote of a majority of
    the shares outstanding and entitled to vote. For KTF and KSM
    only, the election of a Board Member Nominee requires the
    affirmative vote of a plurality of the shares represented in
    person or by proxy at the Meeting.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">Recommendation
    of the Board</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Board of your Fund believes that the election of each Board
    Member Nominee is in the best interests of your Fund.
    <B>Accordingly, the Board unanimously recommends that
    shareholders vote FOR the election of each Board Member Nominee
    as set forth in the Proposal.</B>
</DIV>

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    15
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    <B><FONT style="font-family: 'Times New Roman', Times">INDEPENDENT
    REGISTERED PUBLIC ACCOUNTING FIRM</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each Board, including the Independent Board Members, has
    selected Ernst&#160;&#038; Young LLP (&#147;E&#038;Y&#148;) to
    act as independent registered public accounting firm to audit
    the books and records of each Fund for the current fiscal year.
    E&#038;Y has served each Fund in this capacity since each Fund
    was organized and has no direct or indirect financial interest
    in any Fund except as the independent registered public
    accounting firm. E&#038;Y will not be represented at the Meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In connection with the audit of the 2007 and 2008 financial
    statements, the Funds entered into an engagement letter with
    E&#038;Y. The terms of the engagement letter required by
    E&#038;Y, and agreed to by each Fund&#146;s Audit Committee,
    include provisions in which the parties consent to the sole
    jurisdiction of federal courts in New York, Boston or the
    Northern District of Illinois, as well as a waiver of right to a
    trial by jury and an exclusion of punitive damages.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following table shows fees billed by E&#038;Y to each Fund
    during the two most recent fiscal years: (i)&#160;for audit and
    non-audit services provided to the Fund, and (ii)&#160;for
    engagements for non-audit services preapproved by each
    Fund&#146;s Audit Committee for DIMA and certain entities
    controlling, controlled by, or under common control with DIMA
    that provide ongoing services to the Fund (collectively, the
    &#147;DIMA Entities&#148;), which engagements relate directly to
    the operations and financial reporting of the Fund. Each
    Fund&#146;s Audit Committee has reviewed whether E&#038;Y&#146;s
    receipt of non-audit fees from the Fund, DIMA and all DIMA
    Entities is compatible with maintaining E&#038;Y&#146;s
    independence.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    16
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF"><!-- TABLE 01 -->
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="39%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="6%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Audit<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fees<SUP style="font-size: 85%; vertical-align: top">(1)</SUP></B>

</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Audit Related
    Fees<SUP style="font-size: 85%; vertical-align: top">(2)</SUP></B>

</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Tax
    Fees<SUP style="font-size: 85%; vertical-align: top">(3)</SUP></B>

</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>All Other
    Fees<SUP style="font-size: 85%; vertical-align: top">(4)</SUP></B>

</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>DIMA<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>DIMA<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>DIMA<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name of Fund</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fund</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fund</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Entities</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fund</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Entities</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fund</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Entities</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    DHG
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    52,955
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    250,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7,221
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    486,614
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    67,750
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,373
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    382,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    KMM
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    49,344
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    250,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6,729
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    486,614
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    56,424
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,806
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    382,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    KTF
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    51,719
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    250,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7,053
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    486,614
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    52,812
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,597
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    382,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    KSM
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    49,329
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    250,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6,726
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    486,614
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    49,967
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,134
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    382,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    KST
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    48,620
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    250,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6,630
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    486,614
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    55,165
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,980
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    382,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 19%;  align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=311 length=60 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF"><!-- TABLE 06 -->

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt"><SUP style="font-size: 85%; vertical-align: top">(1)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">&#147;Audit Fees&#148; are the
    aggregate fees billed for professional services for the audit of
    each Fund&#146;s annual financial statements and services
    provided in connection with statutory and regulatory filings or
    engagements.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt"><SUP style="font-size: 85%; vertical-align: top">(2)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">&#147;Audit Related Fees&#148; are
    the aggregate fees billed for assurance and related services
    reasonably related to the performance of the audit or review of
    financial statements and are not reported under &#147;Audit
    Fees.&#148; They were for services in connection with an
    assessment of internal controls and additional related
    procedures.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt"><SUP style="font-size: 85%; vertical-align: top">(3)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">&#147;Tax Fees&#148; are the
    aggregate fees billed for professional services for tax advice,
    tax compliance and tax planning. Fees billed were for tax
    compliance and tax return preparation.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt"><SUP style="font-size: 85%; vertical-align: top">(4)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">&#147;All Other Fees&#148; are the
    aggregate fees billed for products and services other than
    &#147;Audit Fees,&#148; &#147;Audit Related Fees&#148; and
    &#147;Tax Fees.&#148;
    </FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>Audit Committee Pre-Approval Policies and
    Procedures.</I>&#160;&#160;Generally, each Fund&#146;s Audit
    Committee must pre-approve (i)&#160;all services to be performed
    for a Fund by a Fund&#146;s independent registered public
    accounting firm and (ii)&#160;all non-audit services to be
    performed by a Fund&#146;s independent registered public
    accounting firm for the DIMA Entities with respect to operations
    and financial reporting of the Fund, except that the Chairperson
    or Vice Chairperson of each Fund&#146;s Audit Committee may
    grant the pre-approval for non-audit services described in items
    (i)&#160;and (ii)&#160;above for non-prohibited services for
    engagements of less than $100,000. All such delegated
    pre-approvals shall be presented to each Fund&#146;s Audit
    Committee no later than the next Audit Committee meeting.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    17
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>All Non-Audit Fees.</I>&#160;&#160;The table below shows the
    aggregate non-audit fees billed by E&#038;Y for services
    rendered to the Funds and to DIMA Entities for the two most
    recent fiscal years for each Fund.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF"><!-- TABLE 01 -->
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="40%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="5%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="5%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>DHG</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>KMM</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>KTF</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>KSM</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>KST</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    2007
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,978,161
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,708,869
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,709,193
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,708,866
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,708,770
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,865,106
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,715,539
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,715,330
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,714,867
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,715,713
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    In assessing E&#038;Y&#146;s independence, each Fund&#146;s
    Audit Committee considers the opinions of Fund management.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    E&#038;Y advised the Fund&#146;s Audit Committee that E&#038;Y
    had identified four matters that it determined to be
    inconsistent with the SEC&#146;s auditor independence rules.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    First, E&#038;Y advised the Fund&#146;s Audit Committee that, in
    2006 and 2007, Deutsche Bank AG (&#147;DB&#148;) provided
    standard overdraft protection on a depository account and a
    guarantee of certain lease deposits to the E&#038;Y member firm
    in Germany (&#147;E&#038;Y Germany&#148;). DB is within the
    &#147;Investment Company Complex&#148; (as defined by SEC rules)
    and therefore covered by the SEC auditor independence rules
    applicable to the Fund. E&#038;Y advised the Audit Committee
    that while neither of these arrangements was ever utilized by
    E&#038;Y Germany, they could constitute lending type
    arrangements in violation of
    <FONT style="white-space: nowrap">Rule&#160;2-01</FONT>
    of
    <FONT style="white-space: nowrap">Regulation&#160;S-X.</FONT>
    <FONT style="white-space: nowrap">(Rule&#160;2-01(c)(1)(ii)(A)</FONT>
    provides that an accountant is not independent when an
    accounting firm has a loan to or from an audit client.) E&#038;Y
    advised the Audit Committee that E&#038;Y believes its
    independence has not been impacted as it relates to the audit of
    the Fund. In reaching this conclusion, E&#038;Y noted a number
    of factors, including that neither of the arrangements was ever
    utilized and, accordingly, E&#038;Y Germany never had amounts
    outstanding to DB, these arrangements were immaterial to
    E&#038;Y Germany and DB and the E&#038;Y professionals
    responsible for the Fund&#146;s audits were not aware of these
    arrangements. E&#038;Y informed the Audit Committee that
    E&#038;Y Germany has cancelled the overdraft arrangement and has
    terminated the guarantee on the lease deposits.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Second, E&#038;Y advised the Fund&#146;s Audit Committee that,
    in 2007 and 2008, DB provided standard overdraft protection on a
    depository account to the E&#038;Y member firm in India
    (&#147;E&#038;Y India&#148;). E&#038;Y advised the Audit
    Committee that E&#038;Y India utilized this arrangement twice in
    2007; therefore, the arrangement constituted a lending type
    arrangement in violation of
    <FONT style="white-space: nowrap">Rule&#160;2-01(c)(1)(ii)(A)</FONT>
    of
    <FONT style="white-space: nowrap">Regulation&#160;S-X</FONT>
    as described above. E&#038;Y advised the Audit Committee that
    E&#038;Y believes its independence has not been impacted as it
    relates to the audit of the Fund. In reaching this conclusion,
    E&#038;Y noted a number of factors, including that the
    arrangement did not create a mutual or conflicting interest
    between E&#038;Y and the Fund and that the arrangement did not
    involve the Fund, but rather affiliates of the Fund in the
    Investment Company Complex. E&#038;Y
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    18
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    informed the Audit Committee that E&#038;Y India has cancelled
    the overdraft arrangement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Third, E&#038;Y advised the Fund&#146;s Audit Committee that, in
    2008, an E&#038;Y professional purchased interests in a fund
    sponsored by a subsidiary of Deutsche Bank AG that is not
    audited by E&#038;Y. Subsequent to the purchase, the E&#038;Y
    professional became a Covered Person (as defined by SEC rules)
    of the Fund as a result of providing non-audit services to a DB
    entity within the Investment Company Complex. E&#038;Y informed
    the Audit Committee that this investment constituted an
    investment in an affiliate of an audit client in violation of
    the
    <FONT style="white-space: nowrap">Rule&#160;2-01(c)(1)</FONT>
    of
    <FONT style="white-space: nowrap">Regulation&#160;S-X.</FONT>
    E&#038;Y advised the Audit Committee that E&#038;Y believes its
    independence has not been impacted as it relates to the audit of
    the Fund. In reaching this conclusion, E&#038;Y noted a number
    of factors, including that the E&#038;Y professional did not
    have any financial interest in the Fund and was not involved
    with the provision of audit services to the Fund. E&#038;Y
    informed the Audit Committee that the E&#038;Y professional no
    longer provides any services to any entity within the Investment
    Company Complex and is no longer deemed to be a Covered Person
    with respect to the Fund.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Finally, E&#038;Y advised the Fund&#146;s Audit Committee that,
    in 2008, an E&#038;Y professional whose spouse owned interests
    in two DWS Funds that are not audited by E&#038;Y, became a
    Covered Person of the Fund as a result of providing attest
    services to a DB entity within the Investment Company Complex.
    E&#038;Y informed the Audit Committee that this investment
    constituted an investment in an affiliate of an audit client in
    violation of the
    <FONT style="white-space: nowrap">Rule&#160;2-01(c)(1)</FONT>
    of
    <FONT style="white-space: nowrap">Regulation&#160;S-X.</FONT>
    E&#038;Y advised the Audit Committee that E&#038;Y believes its
    independence has not been impacted as it relates to the audit of
    the Fund. In reaching this conclusion, E&#038;Y noted a number
    of factors, including that the E&#038;Y professional did not
    have any financial interest in the Fund and was not involved
    with the provision of audit services to the Fund. E&#038;Y
    informed the Audit Committee that the E&#038;Y professional no
    longer provides any services to any entity within the Investment
    Company Complex and is no longer deemed to be a Covered Person
    with respect to the Fund.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">ADDITIONAL
    INFORMATION</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Proxy Costs.</B> The Funds will pay the costs of preparing,
    printing and mailing the enclosed Proxy Card and Proxy Statement
    and all other costs incurred in connection with the solicitation
    of proxies, including any additional solicitation made by
    letter, telephone or telegraph for each Fund. In addition to
    solicitation by mail, certain officers and representatives of
    the Funds, officers and employees of DIMA and certain financial
    services firms and their representatives, who will receive no
    extra compensation for their services, may solicit proxies
    electronically, by telephone, by telegram or personally. Proxies
    that are obtained telephonically
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    19
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    or electronically will be recorded in accordance with the
    procedures believed by the Funds to be reasonably designed to
    ensure that both the identity of the shareholder casting the
    vote and the voting instructions of the shareholder are
    accurately determined.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    If a shareholder wishes to participate in the Meeting, but does
    not wish to give a proxy by telephone or electronically, the
    shareholder may still submit the proxy card(s) originally sent
    with this Proxy Statement or attend in person. Should
    shareholders require additional information regarding the proxy
    or replacement proxy card(s), they may call
    <FONT style="white-space: nowrap">1-800-849-4134.</FONT>
    Any proxy given by a shareholder is revocable until voted at the
    Meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Quorum and Required Vote.</B> Proxies are being solicited
    from each Fund&#146;s shareholders by the respective Fund&#146;s
    Board for the Meeting. Unless revoked, all valid proxies will be
    voted in accordance with the specification thereon or, in the
    absence of specification, FOR election of all Board Member
    Nominees and as the persons named in the proxy determine on such
    other business as may come before the Meeting. In case any Board
    Member Nominee shall be unable or shall fail to act as a Board
    Member by virtue of an unexpected occurrence, persons named as
    proxies will vote in their discretion for such other nominee or
    nominees as the current Board Members may recommend. Except for
    Board Members elected solely by the holders of Preferred Shares
    of KTF and KSM, if an annual meeting is called for the purpose
    of considering the election of Board Members, and a then current
    Board Member up for election is not elected and such Board
    Member&#146;s successor is not elected and qualified, then the
    current Board Member shall remain a member of the relevant
    class, holding office until the annual meeting held in the third
    succeeding year after such annual meeting is initially called
    and until the election and qualification of such Board
    Member&#146;s successor, if any, or until such current Board
    Member sooner dies, resigns, retires or is removed. Shareholders
    who execute proxies may revoke them at any time before they are
    voted, either by writing to a Fund or in person at the time of
    the Meeting. For each Fund, except DHG, the presence at the
    Meeting of 30% of the shares of such Fund, respectively,
    outstanding and entitled to vote at the Meeting constitutes a
    quorum for the Meeting. Thus, the meeting for a particular Fund
    could not take place on its scheduled date if less than 30% of
    the shares of that Fund were represented. For DHG, the presence
    at the Meeting of a majority of the shares outstanding and
    entitled to vote at the Meeting constitutes a quorum for the
    Meeting. In the event that the necessary quorum to transact
    business is not present at the Meeting with respect to one or
    more Funds, the persons named as proxies may vote those proxies
    that have been received to adjourn the Meeting to a later date
    with respect to those Funds. In addition, the By-Laws of DHG,
    KMM and KST state that the chairman of the Meeting may adjourn
    the Meeting with respect to one or more matter(s) to be
    considered at the Meeting
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    20
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    whether or not a quorum is present with respect to such
    matter(s). Adjournment will subject a Fund to additional
    expenses. For DHG, an adjournment may not extend beyond a date
    120&#160;days after the Record Date. For purposes of determining
    the presence of a quorum for transacting business at the
    Meeting, &#147;broker non-votes&#148; will be treated as shares
    that are present but which have not been voted. Broker non-votes
    are proxies received by a Fund from brokers or nominees when the
    broker or nominee has not received instructions from the
    beneficial owner or other persons entitled to vote. Accordingly,
    shareholders are urged to forward their voting instructions
    promptly.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    For each Fund, each whole share is entitled to one vote and each
    fractional share is entitled to a proportionate fractional vote.
    For DHG, KMM and KST only, the election of a Board Member
    Nominee requires the affirmative vote of a majority of the
    shares outstanding and entitled to vote. For KTF and KSM only,
    the election of a Board Member Nominee requires the affirmative
    vote of a plurality of the shares represented in person or by
    proxy at the Meeting. As noted previously, the holders of the
    Preferred Shares of KTF and KSM, voting as a separate class for
    each respective Fund, are entitled to elect two Board Members
    and the holders of the Common Shares and Preferred Shares of KTF
    and KSM, voting together as a single class for each Fund, are
    entitled to elect the four Board Members. For the Proposal,
    abstentions and broker non-votes will have the effect of a vote
    against the Proposal.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Record Date and Method of Tabulation.</B> Shareholders of
    record at the close of business on March&#160;31, 2009 (the
    &#147;Record Date&#148;) are entitled to notice of, and to vote
    at, the Meeting. As of the Record Date, shares of the Funds were
    issued and outstanding as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="74%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="22%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Fund Name</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shares Outstanding</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    DHG
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    52,140,425.98
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    KMM
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    24,256,668.41
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    KTF
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Common
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38,973,231.06
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Preferred
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    53,000.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    KSM
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Common
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    10,948,342.55
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    Preferred
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    2,800.00
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    KST
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    4,694,525.17
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Votes cast by proxy or in person at the Meeting will be counted
    by persons appointed by the Funds as tellers for the Meeting.
    For the Proposal, shareholders will vote by individual Fund.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The tellers will count shares represented by proxies that
    reflect &#147;broker non-votes&#148; (i.e., shares held by
    brokers or nominees as to which
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    21
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (i)&#160;instructions have not been received from the beneficial
    owners or the persons entitled to vote, and (ii)&#160;the broker
    or nominee does not have the discretionary voting power on a
    particular matter) as shares that are present and entitled to
    vote on the matter for purposes of determining the presence of a
    quorum. For the Proposal, &#147;broker non-votes&#148; will have
    the effect of a vote against the Proposal. Accordingly,
    shareholders are urged to forward their voting instructions
    promptly.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Deutsche Bank Voting.</B> Deutsche Bank Trust&#160;Company
    Americas (&#147;Deutsche Bank Trust&#148;) will vote any shares
    in accounts as to which Deutsche Bank Trust has voting
    authority, and shares in any other accounts as to which Deutsche
    Bank Trust is the agent of record, which are not otherwise
    represented in person or by proxy at the Meeting. Deutsche Bank
    Trust will vote shares of the Funds over which it has investment
    discretion in accord with its fiduciary and other legal
    obligations, and in its discretion may consult with the
    beneficial owners or other fiduciaries. Deutsche Bank Trust will
    vote shares of the Funds for which it is the owner of record but
    does not have investment discretion, which are not otherwise
    represented in person or by proxy at the Meeting, in the same
    proportion as the votes cast by holders of all shares in the
    Funds otherwise represented at the Meeting. This practice is
    commonly referred to as &#147;mirror&#148; or &#147;echo&#148;
    voting. Deutsche Bank Trust and its affiliates will vote any
    shares held in proprietary accounts in accordance with their
    voting procedures.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Share Ownership.</B> As of March&#160;31, 2009, each Fund
    knows of no person who owns more than 5% of any of the
    outstanding shares of a class of the Fund, except as follows:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="29%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="12%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="12%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="24%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="9%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Amount of Shares<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percentage<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Fund Name and Class</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Shareholder Name and Address</B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Owned</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Owned</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    KTF<BR>
    Preferred
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Citigroup Global Markets, Inc.<BR>
    358 Greenwich Street New York, NY 10013
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    38,413
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    72.5
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    KSM<BR>
    Preferred
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Citigroup Global Markets, Inc.<BR>
    358 Greenwich Street New York, NY 10013
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,653
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    59.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Collectively, for each Fund, the Board Members and executive
    officers of the Fund own less than 1% of such Fund&#146;s
    outstanding shares. As of December&#160;31, 2008, the
    Independent Board Members, Interested Board Member and executive
    officers did not own any Preferred Shares of KTF or KSM. The
    number of shares beneficially owned is determined under rules of
    the SEC, and the information is not necessarily indicative of
    beneficial ownership for any other purpose.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    22
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Revocation of Proxies.</B> Proxies, including proxies given
    by telephone or via the Internet, may be revoked at any time
    before they are voted either (i)&#160;by a written revocation
    received by the Secretary of the applicable Fund at One Beacon
    Street, Boston, MA 02108, (ii)&#160;by properly submitting a
    later-dated Proxy Card that is received by the Fund at or prior
    to the Meeting or (iii)&#160;by attending the Meeting and voting
    in person. Merely attending the Meeting without voting, however,
    will not revoke a proxy previously given.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Section&#160;16 Beneficial Ownership Reporting
    Compliance.</B> Section&#160;30(h) of the 1940 Act and
    Section&#160;16(a) of the Securities Exchange Act of 1934
    require each Fund&#146;s officers and Board Members, DIMA,
    affiliated persons of DIMA and persons who own more than ten
    percent of a registered class of the Fund&#146;s equity
    securities to file forms reporting their affiliation with that
    Fund and reports of ownership and changes in ownership of that
    Fund&#146;s shares with the SEC. These persons and entities are
    required by SEC regulation to furnish the Funds with copies of
    all Section&#160;16(a) forms they file. Based solely upon its
    review of the copies of such forms received by it, and written
    representations from certain reporting persons that no year-end
    reports were required for those persons, each Fund believes that
    during the fiscal year ended November&#160;30, 2008
    (September&#160;30, 2008 for DHG), all filings were timely,
    except that Philip G. Condon, the portfolio manager, filed a
    late Form&#160;4 for KTF. In addition, Philip G. Condon, the
    portfolio manager, and Robert H. Wadsworth, a Board Member, each
    filed a late Form&#160;4 for KSM.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To the knowledge of the Funds, no shareholder of a Fund owns
    more than 10% of a Fund&#146;s equity securities, except for the
    following filings on Schedule&#160;13G:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    &#149;&#160;
</TD>
    <TD align="left">    On February&#160;13, 2009 on behalf of Citigroup Inc. and its
    subsidiaries indicating shared beneficial ownership of 72.5% of
    the Preferred Shares of DWS Municipal Income Trust.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    &#149;&#160;
</TD>
    <TD align="left">    On December&#160;9, 2008 on behalf of Citigroup Inc. and its
    subsidiaries indicating shared beneficial ownership of 38.6% of
    the Preferred Shares of DWS Municipal Income Trust.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    &#149;&#160;
</TD>
    <TD align="left">    On February&#160;13, 2009 on behalf of Citigroup Inc. and its
    subsidiaries indicating shared beneficial ownership of 59.0% of
    the Preferred Shares of DWS Strategic Municipal Income Trust.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    &#149;&#160;
</TD>
    <TD align="left">    On December&#160;9, 2008 on behalf of Citigroup Inc. and its
    subsidiaries indicating shared beneficial ownership of 56.9% of
    the Preferred Shares of DWS Strategic Municipal Income Trust.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>Investment Manager.</B> Deutsche Investment Management
    Americas Inc., 345 Park Avenue, New York, New York 10154, serves
    as each Fund&#146;s Advisor and manager pursuant to an
    investment management agreement.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    23
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Deutsche Asset Management (&#147;DeAM&#148;) is the marketing
    name in the US for the asset management activities of Deutsche
    Bank AG, DIMA, Deutsche Bank Trust&#160;Company Americas and DWS
    Trust&#160;Company. DeAM is a global asset management
    organization that offers a wide range of investing expertise and
    resources, including hundreds of portfolio managers and analysts
    and an office network that reaches the world&#146;s major
    investment centers. This well-resourced global investment
    platform brings together a wide variety of experience and
    investment insight, across industries, regions, asset classes
    and investing styles. DIMA is an indirect, wholly owned
    subsidiary of Deutsche Bank AG. Deutsche Bank AG is a major
    global banking institution that is engaged in a wide range of
    financial services, including investment management, mutual
    fund, retail, private and commercial banking, investment banking
    and insurance. DWS Investments is part of Deutsche Bank&#146;s
    Asset Management division and, within the US, represents the
    retail asset management activities of Deutsche Bank AG, Deutsche
    Bank Trust&#160;Company Americas, Deutsche Investment Management
    Americas Inc. and DWS Trust&#160;Company.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">SUBMISSION
    OF SHAREHOLDER PROPOSALS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Shareholders wishing to submit proposals for inclusion in a
    proxy statement for a shareholders&#146; meeting to be held in
    2010 should send their written proposals to the Secretary of the
    applicable Fund at the following address: One Beacon Street,
    Boston, MA 02108.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    It is currently anticipated that the next annual meeting of
    shareholders will be held in May 2010. A shareholder wishing to
    submit a proposal for inclusion in a Fund&#146;s proxy statement
    for the 2010 annual meeting of shareholders pursuant to
    <FONT style="white-space: nowrap">Rule&#160;14a-8</FONT>
    under the Securities Exchange Act of 1934 should send such
    written proposal to the Secretary of the Fund within a
    reasonable time before the solicitation of proxies for such
    meeting. A Fund will treat any such proposal received no later
    than December&#160;18, 2009 as timely. The timely submission of
    a proposal, however, does not guarantee its inclusion.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each Fund has established advance notice requirements pursuant
    to its Amended and Restated By-Laws for the submission of
    shareholder proposals to be considered by shareholders at an
    annual meeting, which do not apply to holders of Preferred
    Shares of KTF and KSM to the extent set forth in the applicable
    By-Laws. Pursuant to the advance notice provisions of each
    Fund&#146;s Amended and Restated By-Laws for nominations of
    individuals for election to the Board or other business to be
    properly brought before an annual meeting by a shareholder
    pursuant to the advance notice provisions, the shareholder must
    have given timely notice thereof in writing to the Secretary of
    the Fund and such other business must otherwise be a proper
    matter for action by the shareholders. To be timely, a
    shareholder&#146;s notice shall set forth all information
    required pursuant to
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    24
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    the advance notice requirements and shall be delivered to the
    Secretary at the principal executive office of the Fund not
    earlier than November&#160;18, 2009 nor later than
    5:00&#160;p.m., Eastern Time, on December&#160;18, 2009. Each
    Fund&#146;s advance notice requirements are set forth as
    follows: DHG in Exhibit F; KMM and KST in Exhibit&#160;G; and
    KTF and KSM in Exhibit H. The timely submission of a proposal,
    however, does not guarantee that it will be considered at the
    applicable annual meeting.
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">OTHER
    MATTERS TO COME BEFORE THE MEETING</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    No Board Member is aware of any matters that will be presented
    for action at the Meeting other than the matters set forth
    therein. Should any other matters requiring a vote of
    shareholders arise, the proxy in the accompanying form will
    confer upon the person or persons entitled to vote the shares
    represented by such proxy the discretionary authority to vote
    the shares as to any such other matters in accordance with their
    best judgment in the interest of each Fund.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>IF YOU HAVE ANY QUESTIONS CONCERNING THIS PROXY STATEMENT OR
    THE PROCEDURES TO BE FOLLOWED TO EXECUTE AND TO DELIVER A PROXY
    CARD, PLEASE CONTACT GEORGESON INC. AT
    <FONT style="white-space: nowrap">1-800-849-4134.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>SHAREHOLDERS WHO DO NOT EXPECT TO BE PRESENT AT THE MEETING
    AND WHO WISH TO HAVE THEIR SHARES VOTED ARE REQUESTED TO DATE
    AND TO SIGN THE ENCLOSED PROXY CARD AND TO RETURN IT IN THE
    ENCLOSED ENVELOPE, OR TO FOLLOW THE INSTRUCTIONS&#160;ON THE
    ENCLOSED PROXY CARD FOR VOTING BY TELEPHONE OR THROUGH THE
    INTERNET.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY
    MATERIALS FOR THE SHAREHOLDER MEETING TO BE HELD ON MAY 28,
    2009:</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <B>The Notice of Meeting, Proxy Statement and Proxy Card are
    available at https://www.envisionreports.com/dws</B>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    25
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;A</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">BOARD
    MEMBER SHARE OWNERSHIP</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    As of March&#160;31, 2009, the Board Members and the officers of
    each Fund as a whole owned less than 1% of the outstanding
    shares of the Funds.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following tables show the dollar range of equity securities
    beneficially owned and the amount of shares beneficially owned
    by each Board Member in each Fund as of March&#160;31, 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each Board Member owns over $100,000 of shares on an aggregate
    basis in all DWS funds overseen by the Board Member as of
    March&#160;31, 2009.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 6pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="25%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=05 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=06 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=07 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=08 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=09 type=gutter -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=09 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=10 type=gutter -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=10 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=11 type=gutter -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=11 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=12 type=gutter -->
    <TD width="5%">&nbsp;</TD>	<!-- colindex=12 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=13 type=gutter -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=13 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=14 type=gutter -->
    <TD width="4%">&nbsp;</TD>	<!-- colindex=14 type=maindata -->
</TR>
<!-- Table Width Row END -->
<TR style="font-size: 5pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="25" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Dollar Range of Equity Securities Beneficially Owned</B>
</TD>
</TR>
<TR style="font-size: 5pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Interested<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 5pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Board<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 5pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="23" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Independent Board Members</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Member</B>
</TD>
</TR>
<TR style="font-size: 5pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>John W.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Henry P.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Dawn-Marie<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Keith R.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Paul K.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Kenneth C.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Richard J.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>William<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Rebecca W.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>William N.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Jean Gleason<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Robert H.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Axel<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 5pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Fund Name</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Ballantine</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Becton, Jr.</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Driscoll</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fox</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Freeman</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Froewiss</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Herring</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>McClayton</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Rimel</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Searcy, Jr.</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Stromberg</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Wadsworth</B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Schwarzer</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    DWS Dreman Value Income Edge Fund,&#160;Inc.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    $10,001-<BR>
    $50,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    DWS Multi-Market Income Trust
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    $10,001-<BR>
    $50,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    DWS Municipal Income Trust
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    $1-$10,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    DWS Strategic Municipal Income Trust
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    $10,001-<BR>
    $50,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    $50,001-<BR>
    $100,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    DWS Strategic Income Trust
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    $50,001-<BR>
    $100,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    <B>Aggregate Dollar Range of Equity Securities Owned in All DWS
    Funds Overseen by the Nominee</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Over<BR>
    $100,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Over<BR>
    $100,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Over<BR>
    $100,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Over<BR>
    $100,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Over<BR>
    $100,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Over<BR>
    $100,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Over<BR>
    $100,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Over<BR>
    $100,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Over<BR>
    $100,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Over<BR>
    $100,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Over<BR>
    $100,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Over<BR>
    $100,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Over<BR>
    $100,000
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    A-1
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 6pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="22%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=09 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=09 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=09 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=09 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=10 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=10 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=10 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=10 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=11 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=11 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=11 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=11 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=12 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=12 type=lead -->
    <TD width="4%" align="right">&nbsp;</TD>	<!-- colindex=12 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=12 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=13 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=13 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=13 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=13 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=14 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=14 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=14 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=14 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<TR style="font-size: 6pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="50" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Amount of Shares Beneficially Owned</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Interested<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Board<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="46" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Independent Board Members</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Member</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>John W.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Henry P.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dawn-Marie<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Keith R.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Paul K.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Kenneth C.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Richard J.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>William<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Rebecca W.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>William N.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Jean Gleason<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Robert H.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Axel<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 6pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Fund Name</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Ballantine</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Becton, Jr.</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Driscoll</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fox</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Freeman</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Froewiss</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Herring</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>McClayton</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Rimel</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Searcy, Jr.</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Stromberg</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Wadsworth</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Schwarzer</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    DWS Dreman Value Income Edge Fund, Inc.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    DWS Multi-Market Income Trust
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,334
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    DWS Municipal Income Trust
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    DWS Strategic Municipal Income Trust
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    1,300
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    5,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    DWS Strategic Income Trust
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    9,072
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    0
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    A-2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <BR>
</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;B</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">OFFICERS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Unless otherwise indicated, the address of each officer below is
    One Beacon Street, Boston, Massachusetts 02108.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="48%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Name, Year of Birth,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Position(s) with the<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Fund and Length of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Principal Occupation(s) During the Past 5 Years<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Time
    Served<SUP style="font-size: 85%; vertical-align: top">(5)</SUP></B>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>and Other Directorships Held</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Michael G. Clark </B>(1965)&#160;<BR>
    President, <BR>
    2006&#160;&#151;
    present<SUP style="font-size: 85%; vertical-align: top">(1)(3)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Managing
    Director<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>,

    Deutsche Asset Management (2006-present); President of DWS
    family of funds;  Director, ICI Mutual Insurance Company (since
    October 2007); formerly, Director of Fund Board Relations
    (2004-2006) and Director of Product Development (2000-2004),
    Merrill Lynch Investment Managers; Senior Vice President
    Operations, Merrill Lynch Asset Management (1999-2000)
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Paul H. Schubert </B>(1963)&#160;<BR>
    Chief Financial Officer,<BR>
    2004&#160;&#151; present <BR>
    Treasurer,<BR>
    2005&#160;&#151;
    present<SUP style="font-size: 85%; vertical-align: top">(1)(3)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Managing
    Director<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>,

    Deutsche Asset Management (since July 2004); formerly, Executive
    Director, Head of Mutual Fund Services and Treasurer for UBS
    Family of Funds (1998-2004); Vice President and Director of
    Mutual Fund Finance at UBS Global Asset Management (1994-1998)
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>John Millette</B> (1962)&#160;<BR>
    Vice President,<BR>
    2008&#160;&#151; present<BR>
    Secretary,<BR>
    1999&#160;&#151;
    present<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Director<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>,

    Deutsche Asset Management
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Caroline Pearson</B> (1962)&#160;<BR>
    Assistant Secretary,<BR>
    1997&#160;&#151;
    present<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Managing
    Director<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>,

    Deutsche Asset Management
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Rita Rubin</B> (1970)&#160;<BR>
    Assistant Secretary, <BR>
    2009&#160;&#151;
    present<SUP style="font-size: 85%; vertical-align: top">(1)(4)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Vice President and Counsel, Deutsche Asset Management (since
    October 2007); formerly, Vice President, Morgan Stanley
    Investment Management (2004-2007); Attorney, Shearman &#038;
    Sterling LLP (2004); Vice President and Associate General
    Counsel, UBS Global Asset Management (2001-2004); Attorney,
    Kirkpatrick &#038; Lockhart LLP (1999-2001)
</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    B-1
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 8pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="48%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Name, Year of Birth,<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Position(s) with the<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Fund and Length of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    Principal Occupation(s) During the Past 5 Years<BR>
</TD>
</TR>
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Time
    Served<SUP style="font-size: 85%; vertical-align: top">(5)</SUP></B>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    and Other Directorships Held
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Paul Antosca </B>(1957)<BR>
    Assistant Treasurer,<BR>
    2007&#160;&#151;
    present<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Director<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>,

    Deutsche Asset Management (since 2006); formerly Vice President,
    The Manufacturers Life Insurance Company (U.S.A.) (1990-2006)
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Jack Clark</B> (1967)&#160;<BR>
    Assistant Treasurer,<BR>
    2008&#160;&#151;
    present<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Director<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>,

    Deutsche Asset Management (since 2007); formerly, Vice
    President, State Street Corporation (2002-2007)
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Diane Kenneally</B> (1966)&#160;<BR>
    Assistant Treasurer,<BR>
    2008&#160;&#151;
    present<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Director<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>,

    Deutsche Asset Management
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Jason Vazquez</B> (1972)<BR>
    Anti-Money Laundering<BR>
    Compliance Officer, <BR>
    2007&#160;&#151;
    present<SUP style="font-size: 85%; vertical-align: top">(1)(4)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Vice President, Deutsche Asset Management (since 2006);
    formerly, AML Operations Manager for Bear Stearns (2004-2006),
    Supervising Compliance Principal and Operations Manager for AXA
    Financial (1999-2004)
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>Robert Kloby</B> (1962)&#160;<BR>
    Chief Compliance Officer,<BR>
    2006&#160;&#151;
    present<SUP style="font-size: 85%; vertical-align: top">(1)(4)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Managing
    Director<SUP style="font-size: 85%; vertical-align: top">(2)</SUP>,

    Deutsche Asset Management (2004-present); formerly, Chief
    Compliance Officer/Chief Risk Officer, Robeco USA (2000-2004);
    Vice President, The Prudential Insurance Company of America
    (1988-2000); E.F. Hutton and Company (1984-1988)
</TD>
</TR>
<TR valign="bottom" style="line-height: 12pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>J. Christopher Jackson</B> (1951)&#160;<BR>
    Chief Legal Officer,<BR>
    2008-present<SUP style="font-size: 85%; vertical-align: top">(1)(4)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Director, Deutsche Asset Management (2006-present); formerly,
    Director, Senior Vice President, General Counsel, and Assistant
    Secretary, Hansberger Global Investors, Inc. (1996-2006);
    Director, National Society of Compliance Professionals
    (2002-2005) (2006-2009)
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 19%;  align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=311 length=60 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt"><SUP style="font-size: 85%; vertical-align: top">(1)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">As a result of their respective
    positions held with DIMA, these individuals are considered
    &#147;interested persons&#148; of the Funds within the meaning
    of the 1940 Act. Interested persons receive no compensation from
    the Funds.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt"><SUP style="font-size: 85%; vertical-align: top">(2)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Executive title, not a board
    directorship.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt"><SUP style="font-size: 85%; vertical-align: top">(3)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Address: 345 Park Avenue, New York,
    New York 10154.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt"><SUP style="font-size: 85%; vertical-align: top">(4)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Address: 280 Park Avenue, New York,
    New York 10017.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt"><SUP style="font-size: 85%; vertical-align: top">(5)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">The length of time served
    represents the year in which the officer was first elected in
    such capacity for one or more DWS funds.
    </FONT></TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    B-2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;C</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">BOARD
    MEMBER COMPENSATION</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The table below shows (i)&#160;the compensation paid to each
    Board Member by each Fund for its most recently completed fiscal
    year and (ii)&#160;the total compensation received by each Board
    Member from the DWS fund complex for the calendar year ended
    December&#160;31, 2008. Mr.&#160;Schwarzer is an interested
    person of the Funds and received no compensation from the Funds
    or any fund in the DWS fund complex during the relevant periods.
    No Board Member of the Funds receives pension or retirement
    benefits from the Funds.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 5pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="35%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="3%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=06 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=lead -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=06 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=06 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=07 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=07 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=07 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=07 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=08 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=08 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=08 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=08 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=09 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=09 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=09 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=09 type=hang1 -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=10 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=10 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=10 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=10 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=11 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=11 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=11 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=11 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=12 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=12 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=12 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=12 type=hang1 -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=13 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=13 type=lead -->
    <TD width="2%" align="right">&nbsp;</TD>	<!-- colindex=13 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=13 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<TR style="font-size: 5pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="46" align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Independent Board Members</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 5pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Jean<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 5pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>John W.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Henry P.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Dawn-Marie<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Keith R.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Paul K.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Kenneth C.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Richard J.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>William<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Rebecca W.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>William N.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Gleason<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Robert H.<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 5pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Fund Name</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Ballantine</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Becton, Jr.</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Driscoll</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fox</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Freeman</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Froewiss</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Herring</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>McClayton</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Rimel</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Searcy, Jr.</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Stromberg</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Wadsworth</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -5pt; margin-left: 5pt">
    DWS Dreman Value Income Edge Fund, Inc.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,282
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    423
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    513
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    398
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,226
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    398
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    423
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,534
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    398
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    423
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    398
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    3,194
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -5pt; margin-left: 5pt">
    DWS Multi-Market Income Trust
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,384
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    237
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    277
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    227
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,889
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    227
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    237
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,556
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    227
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    237
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    227
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,341
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -5pt; margin-left: 5pt">
    DWS Municipal Income Trust
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,084
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    403
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    482
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    382
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,832
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    382
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    403
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,316
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    382
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    403
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    382
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    2,045
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -5pt; margin-left: 5pt">
    DWS Strategic Municipal Income Trust
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,145
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    164
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    186
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    157
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,607
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    157
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    164
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,287
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    157
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    164
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    157
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,112
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -5pt; margin-left: 5pt">
    DWS Strategic Income Trust
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    801
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    113
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    124
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    112
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    1,116
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    112
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    113
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    901
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    112
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    113
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    112
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    766
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -5pt; margin-left: 5pt">
    <B>Total Compensation from
    Fund&#160;Complex<SUP style="font-size: 85%; vertical-align: top">(1)</SUP></B>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    237,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    246,000
</TD>
<TD nowrap align="left" valign="bottom">
    <SUP style="font-size: 85%; vertical-align: top">(4)</SUP>

</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    292,500
</TD>
<TD nowrap align="left" valign="bottom">
    <SUP style="font-size: 85%; vertical-align: top">(3)(4)</SUP>

</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    229,500
</TD>
<TD nowrap align="left" valign="bottom">
    <SUP style="font-size: 85%; vertical-align: top">(4)</SUP>

</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    255,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    226,750
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    240,000
</TD>
<TD nowrap align="left" valign="bottom">
    <SUP style="font-size: 85%; vertical-align: top">(4)</SUP>

</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    257,500
</TD>
<TD nowrap align="left" valign="bottom">
    <SUP style="font-size: 85%; vertical-align: top">(2)</SUP>

</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    233,500
</TD>
<TD nowrap align="left" valign="bottom">
    <SUP style="font-size: 85%; vertical-align: top">(4)</SUP>

</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    238,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    225,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    273,500
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 19%;  align: left; border-bottom: 1pt solid #000000"></DIV><!-- callerid=999 iwidth=311 length=60 -->

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 6pt"><SUP style="font-size: 85%; vertical-align: top">(1)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 6pt">The fund complex is composed of 136
    funds.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 6pt"><SUP style="font-size: 85%; vertical-align: top">(2)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 6pt">Mr.&#160;McClayton received $15,000
    in calendar year 2008 for his participation in special ad hoc
    committee meetings in connection with the DWS funds board
    consolidation.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 6pt"><SUP style="font-size: 85%; vertical-align: top">(3)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 6pt">Includes $70,000 in annual retainer
    fees in Ms.&#160;Driscoll&#146;s role as Chairperson of DWS
    funds.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 6pt"><SUP style="font-size: 85%; vertical-align: top">(4)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 6pt">Aggregate compensation includes
    amounts paid to the Board Members for special meetings of ad hoc
    committees of the board in connection with the consolidation of
    the DWS fund boards and various funds, meetings for considering
    fund expense simplification initiatives, and consideration of
    issues specific to the Funds&#146; direct shareholders (i.e.,
    those shareholders who did not purchase shares through financial
    intermediaries). Such amounts totaled $8,000 for
    Mr.&#160;Becton, $2,000 for Ms.&#160;Driscoll, $2,000 for
    Mr.&#160;Fox, $2,000 for Dr.&#160;Herring and $8,000 for
    Ms.&#160;Rimel. These meeting fees were borne by the DWS funds.
    </FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    C-1
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;D</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">DWS
    FUNDS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">AUDIT
    COMMITTEE CHARTER<BR>
    <FONT style="font-size: 10pt">(EFFECTIVE APRIL&#160;1, 2008)<BR>
    As revised January&#160;22, 2009</FONT></FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">I.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">PURPOSE</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Audit Committee is a committee of the Board of
    Trustees/Directors (the &#147;Board&#148;) of the DWS Funds. Its
    primary function is to assist the
    Board<SUP style="font-size: 85%; vertical-align: top">1</SUP> in

    fulfilling certain of its responsibilities. This Charter sets
    forth the responsibilities and powers of the Audit Committee.
    Except to the extent that certain powers of the Board are
    specifically delegated to the Audit Committee herein, it shall
    make such recommendations to the Board as it deems appropriate
    with respect to the matters set forth herein.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Audit Committee serves as an independent and objective party
    to monitor the Funds&#146; accounting policies, financial
    reporting and internal control system, as well as the work of
    the independent auditors. The Audit Committee assists Board
    oversight of (1)&#160;the integrity of the Funds&#146; financial
    statements; (2)&#160;the Funds&#146; accounting and financial
    reporting policies and procedures, (3)&#160;the Funds&#146;
    compliance with legal and regulatory requirements related to
    accounting and financial
    reporting;<SUP style="font-size: 85%; vertical-align: top">2</SUP>

    (4)&#160;the independent auditors&#146; qualifications and
    independence; and (5)&#160;the performance of the Funds&#146;
    independent auditors. The Audit Committee also serves to provide
    an open avenue of communication among the independent auditors,
    the Adviser&#146;s internal audit department, Fund management,
    and the
    Board.<SUP style="font-size: 85%; vertical-align: top">3</SUP>

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Although the Audit Committee has the responsibilities and powers
    set forth in this Charter, it is not the duty of the Audit
    Committee to establish accounting systems, to plan or conduct
    audits or to determine that the
</DIV>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV><DIV style="font-size: 1pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left" style="text-align:justify; margin-left: 2%; margin-right: 0%; text-indent: -2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    &#160;<SUP style="font-size: 85%; vertical-align: top">1</SUP>&#160;<FONT style="font-size: 8pt">To

    the extent the Fund is organized as a Massachusetts business
    trust, any references to &#147;directors&#148; or &#147;board
    members&#148; shall be deemed to mean &#147;trustees.&#148;
    </FONT>
</DIV>

<DIV align="left" style="text-align:justify; margin-left: 2%; margin-right: 0%; text-indent: -2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    &#160;<SUP style="font-size: 85%; vertical-align: top">2</SUP>&#160;<FONT style="font-size: 8pt">The

    Board has delegated to other committees oversight of various
    legal and regulatory requirements. The Audit Committee&#146;s
    function is limited to the activities set out in Section&#160;IV.
    </FONT>
</DIV>

<DIV align="left" style="text-align:justify; margin-left: 2%; margin-right: 0%; text-indent: -2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    &#160;<SUP style="font-size: 85%; vertical-align: top">3</SUP>&#160;<FONT style="font-size: 8pt">If

    the Fund is listed on the New York Stock Exchange, the Corporate
    Governance Standards require the Audit Committee&#146;s charter
    to address, as one of the Committee&#146;s purposes, that it
    assist Board oversight of &#147;the performance of the
    company&#146;s internal audit function.&#148; Since the Fund has
    no internal audit function, this has not been included as one of
    the purposes of the Committee, although the Committee does serve
    to provide an open avenue of communication with the
    Adviser&#146;s internal audit department, and reviews the scope,
    resources and findings and recommendations of the Adviser&#146;s
    internal audit department as set forth in Section&#160;IV.B.2.
    </FONT>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    D-1
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Funds&#146; financial statements are complete and accurate and
    have been prepared in accordance with generally accepted
    accounting principles. Accordingly, the responsibilities and
    powers of the Audit Committee shall be limited by recognition of
    the following general principles:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    &#149;&#160;
</TD>
    <TD align="left">    Fund management has the primary responsibility to establish and
    maintain systems for accounting, reporting and internal control.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    &#149;&#160;
</TD>
    <TD align="left">    The independent auditors have the primary responsibility to plan
    and implement a proper audit, including consideration of the
    Funds&#146; accounting, reporting and internal control practices.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">II.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">COMPOSITION</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Audit Committee shall be composed of three or more board
    members as determined by the Board, each of whom shall be an
    independent board member. For purposes of the Audit Committee, a
    board member is independent if:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    &#149;&#160;
</TD>
    <TD align="left">    he or she is not an &#147;interested person&#148; of the Fund as
    that term is defined in the Investment Company Act of
    1940;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    &#149;&#160;
</TD>
    <TD align="left">    he or she does not accept, directly or indirectly, any
    consulting, advisory, or other compensatory fee from the Fund
    (except in the capacity as a Board or committee member).
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Each member of the Audit Committee shall be financially
    literate, as such qualification is interpreted by the Board in
    its business judgment (or must become financially literate
    within a reasonable time after his or her appointment to the
    Audit Committee). The Audit Committee will review the
    qualifications of its members and consider whether any of its
    members qualify as an &#147;audit committee financial
    expert&#148;<SUP style="font-size: 85%; vertical-align: top">4</SUP>

    as defined in
</DIV>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV><DIV style="font-size: 1pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left" style="text-align:justify; margin-left: 2%; margin-right: 0%; text-indent: -2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    &#160;<SUP style="font-size: 85%; vertical-align: top">4</SUP><FONT style="font-size: 8pt">&#160;An

    &#147;audit committee financial expert&#148; of a company is
    defined as a person who has all of the following attributes:
    (1)&#160;an understanding of generally accepted accounting
    principles (&#145;&#146;GAAP&#148;) and financial statements;
    (2)&#160;the ability to assess the general application of GAAP
    in connection with the accounting for estimates, accruals and
    reserves; (3)&#160;experience preparing, auditing, analyzing or
    evaluating financial statements that present a breadth and level
    of complexity of accounting issues that are generally comparable
    to the breadth and complexity of issues that can reasonably be
    expected to be raised by the company&#146;s financial
    statements, or experience actively supervising one or more
    persons engaged in such activities; (4)&#160;an understanding of
    internal controls and procedures for financial reporting; and
    (5)&#160;an understanding of audit committee functions. An audit
    committee financial expert must have acquired such attributes
    through any one or more of the following: (1)&#160;education and
    experience as a principal financial officer, principal
    accounting officer, controller, public accountant or auditor or
    experience in one or more positions that involve the performance
    of similar functions (or active supervision of such persons); or
    (2)&#160;experience overseeing or assessing the performance of
    companies or public accountants with respect to the preparation,
    auditing or evaluation of financial statements; or
    (3)&#160;other relevant experience.
    </FONT>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    D-2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <FONT style="white-space: nowrap">Form&#160;N-CSR.</FONT><SUP style="font-size: 85%; vertical-align: top">5</SUP>

    The Audit Committee will submit its recommendations in this
    regard to the Board for its final determination.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    No member of the Audit Committee shall serve on the audit
    committee of three or more public companies (excluding the
    Funds), unless the Board determines that such simultaneous
    service would not impair the ability of the Audit Committee
    member to serve effectively on the Audit Committee.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">III.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">MEETINGS</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Audit Committee shall meet on a regular basis as it deems
    necessary or appropriate, and may hold special meetings as
    circumstances warrant.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    As part of its job to foster open communication, the Audit
    Committee shall meet annually with senior Fund management
    responsible for accounting and financial reporting, the
    independent auditors, and representatives of the Adviser&#146;s
    internal audit department in separate executive sessions to
    discuss any matters that the Audit Committee, or any of such
    other persons, believes should be discussed privately.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">IV.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">RESPONSIBILITIES
    AND DUTIES</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To fulfill its responsibilities and duties the Audit Committee
    shall:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 6%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>A.&#160;Charter</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 12%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Review this Charter annually and recommend changes, if any, to
    the Board.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 6%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>B.&#160;Internal Controls</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    1.&#160;
</TD>
    <TD align="left">
    Review annually with Fund management and the independent
    auditors:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (a)&#160;
</TD>
    <TD align="left">
    the organizational structure, reporting relationship, adequacy
    of resources and qualifications of the senior Fund management
    personnel responsible for accounting and financial
    reporting;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (b)&#160;
</TD>
    <TD align="left">
    their separate evaluation of the adequacy and effectiveness of
    the Funds&#146; system of internal controls, including those of
    the Funds&#146; service providers.
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV><DIV style="font-size: 1pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left" style="text-align:justify; margin-left: 2%; margin-right: 0%; text-indent: -2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    &#160;<SUP style="font-size: 85%; vertical-align: top">5</SUP><FONT style="font-size: 8pt">&#160;If

    the Fund is listed on the New York Stock Exchange, at least one
    member of the Audit Committee must have accounting or related
    financial management expertise, as the Board interprets such
    qualification in its business judgment.
    </FONT>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    D-3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    2.&#160;
</TD>
    <TD align="left">
    Review with Fund management, the independent auditors and the
    Adviser&#146;s internal audit department:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (a)&#160;
</TD>
    <TD align="left">
    the Adviser&#146;s internal audit department&#146;s internal
    audit scope and plan related to the Funds&#146; systems for
    accounting, reporting and internal controls;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (b)&#160;
</TD>
    <TD align="left">
    the responsibilities, resources and staffing of the
    Adviser&#146;s internal audit department with respect to the
    activities in IV.B.2.(a) above;&#160;and
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (c)&#160;
</TD>
    <TD align="left">
    any significant internal audit findings or recommendations
    related to the Funds&#146; systems for accounting, reporting and
    internal controls and Fund management&#146;s response.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    3.&#160;
</TD>
    <TD align="left">
    Establish procedures for the receipt, retention and treatment of
    complaints received by the Funds
    <FONT style="white-space: nowrap">and/or</FONT> the
    Audit Committee regarding accounting, internal accounting
    controls or auditing matters and the confidential, anonymous
    submission by officers and directors of the Fund or employees of
    the Adviser, principal underwriter and any provider of
    accounting-related services to the Fund of concerns regarding
    questionable accounting or auditing matters.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    4.&#160;
</TD>
    <TD align="left">
    Review at least annually, with Fund management and the
    independent auditors, policies for valuation of Fund portfolio
    securities and the frequency and magnitude of pricing errors.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 6%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>C.&#160;Independent Auditors</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    1.&#160;
</TD>
    <TD align="left">
    Approve, and recommend to the Board, the appointment, retention
    or termination of the independent auditors, and approve the fees
    and other compensation to be paid to the independent auditors.
    Such selection shall be pursuant to a written engagement letter
    approved by the Audit Committee, which shall provide that:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (a)&#160;
</TD>
    <TD align="left">
    the Audit Committee shall be directly responsible for the
    appointment, compensation, retention and oversight (such
    oversight shall include resolving disagreements between Fund
    management and the independent auditors regarding financial
    reporting) of the independent auditors;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (b)&#160;
</TD>
    <TD align="left">
    the independent auditors shall report directly to the Audit
    Committee.
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    D-4
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    2.&#160;
</TD>
    <TD align="left">
    Pre-approve any engagement of the independent auditors to
    provide any services to the Funds, including the fees and other
    compensation to be paid to the independent auditors, except as
    set forth in Section&#160;IV.C.4 below. Notwithstanding the
    above, the independent auditors shall not perform any of the
    following non-audit services for the Funds (&#147;prohibited
    non-audit services&#148;):
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (a)&#160;
</TD>
    <TD align="left">
    bookkeeping or other services related to the accounting records
    or financial statements of the Funds;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (b)&#160;
</TD>
    <TD align="left">
    financial information systems design and implementation;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (c)&#160;
</TD>
    <TD align="left">
    appraisal or valuation services, fairness opinions, or
    <FONT style="white-space: nowrap">contribution-in-kind</FONT>
    reports;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (d)&#160;
</TD>
    <TD align="left">
    actuarial services;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (e)&#160;
</TD>
    <TD align="left">
    internal audit outsourcing services;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (f)&#160;
</TD>
    <TD align="left">
    management functions or human resources;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (g)&#160;
</TD>
    <TD align="left">
    broker or dealer, investment adviser, or investment banking
    services;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (h)&#160;
</TD>
    <TD align="left">
    legal services and expert services unrelated to the
    audit;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (i)&#160;
</TD>
    <TD align="left">
    any other services that the Public Company Accounting Oversight
    Board determines are impermissible.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    3.&#160;
</TD>
    <TD align="left">
    Pre-approve any engagement of the independent auditors,
    including the fees and other compensation to be paid to the
    independent auditors, to provide any non-audit services to the
    Adviser (or any &#147;control
    affiliate&#148;<SUP style="font-size: 85%; vertical-align: top">6</SUP>

    of the Adviser providing ongoing services to the Funds), if the
    engagement relates directly to the operations and financial
    reporting of the Funds except as set forth in
    Section&#160;IV.C.4 below.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="4%"></TD>
    <TD width="84%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    4.&#160;
</TD>
    <TD align="left">
    Pre-approval by the Audit Committee with respect to engagements
    of the independent auditors is not required in the following
    circumstances:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (a)&#160;
</TD>
    <TD align="left">
    The Chair of the Audit Committee (or, in his absence, the Vice
    Chair of the Audit Committee) may grant the pre-approval
    referenced in Sections&#160;IV.C. 2 and 3 above for
    non-prohibited services for engagements of less than $100,000.
    All such delegated pre-
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV><DIV style="font-size: 1pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left" style="text-align:justify; margin-left: 2%; margin-right: 0%; text-indent: -2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    &#160;<SUP style="font-size: 85%; vertical-align: top">6</SUP><FONT style="font-size: 8pt">&#160;&#147;Control

    affiliate&#148; means any entity controlling, controlled by, or
    under common control with the Adviser.
    </FONT>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    D-5
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    approvals shall be presented to the Audit Committee no later
    than the next Audit Committee meeting.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (b)&#160;
</TD>
    <TD align="left">
    Pre-approval of non-audit services for a Fund pursuant to
    Section&#160;IV.C. 2 above is not required, if:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="25%"></TD>
    <TD width="7%"></TD>
    <TD width="68%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (i)&#160;
</TD>
    <TD align="left">
    the aggregate amount of all non-audit services provided to the
    Fund is less than 5% of the total fees paid by the Fund to the
    independent auditors during the fiscal year in which the
    non-audit services are provided;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (ii)&#160;
</TD>
    <TD align="left">
    the services were not recognized by Fund management at the time
    of the engagement as non-audit services;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (iii)&#160;
</TD>
    <TD align="left">
    such services are promptly brought to the attention of the Audit
    Committee by Fund management and the Audit Committee approves
    them (which may be by delegation) prior to the completion of the
    audit.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (c)&#160;
</TD>
    <TD align="left">
    Pre-approval of non-audit services for the Adviser (or any
    affiliate of the Adviser providing ongoing services to a Fund)
    pursuant to Section&#160;IV.C.3 above is not required, if:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="25%"></TD>
    <TD width="7%"></TD>
    <TD width="68%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (i)&#160;
</TD>
    <TD align="left">
    the aggregate amount of all non-audit services provided is less
    than 5% of the total fees paid by such Fund, the Adviser and any
    &#147;control affiliate&#148; of the Adviser providing ongoing
    services to the Fund to the independent auditors during the
    fiscal year in which the non-audit services are provided;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (ii)&#160;
</TD>
    <TD align="left">
    the services were not recognized by Fund management at the time
    of the engagement as non-audit services;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (iii)&#160;
</TD>
    <TD align="left">
    such services are promptly brought to the attention of the Audit
    Committee by Fund management and the Audit Committee approves
    them (which may be by delegation) prior to the completion of the
    audit.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    5.&#160;
</TD>
    <TD align="left">
    On an annual basis, review a report from the independent
    auditors describing:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (a)&#160;
</TD>
    <TD align="left">
    the independent auditors&#146; internal quality-control
    procedures;
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    D-6
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (b)&#160;
</TD>
    <TD align="left">
    any material issues raised by the most recent internal
    quality-control review, or peer review, of the independent
    auditors, or by any inquiry or investigations by governmental or
    professional authorities, within the preceding five years,
    respecting one or more independent audits carried out by the
    independent auditors, and any steps taken to deal with any such
    issues;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (c)&#160;
</TD>
    <TD align="left">
    all relationships between the independent auditors and the Fund,
    so as to assess the auditors&#146; independence, including
    identification of all relationships the independent auditors
    have with the Fund and all significant relationships the
    independent auditors have with the Adviser (and any
    &#147;control affiliate&#148; of the Adviser) and any material
    service provider to the Fund (including, but not limited to,
    disclosures regarding the independent auditors&#146;
    independence required by Public Company Accounting Oversight
    Board Rule&#160;3526 and compliance with the applicable
    independence provisions of
    <FONT style="white-space: nowrap">Rule&#160;2-01</FONT>
    of
    <FONT style="white-space: nowrap">Regulation&#160;S-X).</FONT>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    &#160;&#160;&#160;
</TD>
    <TD align="left">
    In assessing the auditors&#146; independence, the Audit
    Committee shall take into account the opinions of Fund
    management and the Adviser&#146;s internal audit department. The
    Committee will present its conclusions with respect to the
    independent auditors to the Board, and recommend that the Board
    take appropriate action, if any, in response to the independent
    auditors&#146; report to satisfy itself of the independent
    auditors&#146; independence.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    6.&#160;
</TD>
    <TD align="left">
    On an annual basis, review and evaluate the lead audit partner
    (such review to include consideration of whether, in addition to
    the regular rotation of the lead audit partner as required by
    law, in order to assure continuing auditor independence, there
    should be regular consideration of rotation of the firm serving
    as independent auditors).
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    7.&#160;
</TD>
    <TD align="left">
    On an annual basis, meet with the independent auditors and Fund
    management to review the arrangements for and scope of the
    proposed audit for the current year and the audit procedures to
    be utilized.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    8.&#160;
</TD>
    <TD align="left">
    Review the management letter prepared by the independent
    auditors and Fund management&#146;s response.
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    D-7
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 6%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>D.&#160;Financial Reporting Processes</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    1.&#160;
</TD>
    <TD align="left">
    If the Fund is a listed closed-end investment company,
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (a)&#160;
</TD>
    <TD align="left">
    review with Fund management and the independent auditors, the
    Funds&#146; audited financial statements (including the opinion
    of the auditors) and recommend to the Board, if appropriate,
    that the audited financial statements be included in the
    Funds&#146; annual report to shareholders required by
    Section&#160;30(e) of the Investment Company Act of 1940 and
    <FONT style="white-space: nowrap">Rule&#160;30d-1</FONT>
    thereunder;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="7%"></TD>
    <TD width="74%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (b)&#160;
</TD>
    <TD align="left">
    review with Fund management and the independent auditors the
    Funds&#146; semi-annual financial statements;&#160;and
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (c)&#160;
</TD>
    <TD align="left">
    review the Funds&#146; process for declaring dividends and
    issuing dividend announcements and related press releases, as
    well as financial information and dividend guidance provided to
    analysts and rating agencies;&#160;and
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="7%"></TD>
    <TD width="74%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (d)&#160;
</TD>
    <TD align="left">
    review such other matters as may be required by any exchange on
    which a Fund&#146;s shares are to be listed.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    2.&#160;
</TD>
    <TD align="left">
    Review with Fund management and the independent auditors the
    matters that auditing professional standards require to be
    communicated to the Audit Committee, including, but not limited
    to, the matters required to be discussed by Statement on
    Auditing Standards No.&#160;61, including:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (a)&#160;
</TD>
    <TD align="left">
    the independent auditors&#146; judgments about the quality, and
    not just the acceptability, of the Funds&#146; accounting
    principles as applied in its financial reporting;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (b)&#160;
</TD>
    <TD align="left">
    the process used by Fund management in formulating estimates and
    the independent auditors&#146; conclusions regarding the
    reasonableness of those estimates;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (c)&#160;
</TD>
    <TD align="left">
    all significant adjustments arising from the audit, whether or
    not recorded by the Fund;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (d)&#160;
</TD>
    <TD align="left">
    when the independent auditors are aware that Fund management has
    consulted with other accountants about significant accounting
    and auditing matters, the independent auditors&#146; views about
    the subject of the consultation;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (e)&#160;
</TD>
    <TD align="left">
    any disagreements with Fund management regarding accounting or
    reporting matters;
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    D-8
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (f)&#160;
</TD>
    <TD align="left">
    any difficulties encountered in the course of the audit,
    including any restrictions on the scope of the independent
    auditors&#146; activities or on access to requested
    information;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (g)&#160;
</TD>
    <TD align="left">
    significant deficiencies in the design or operation of internal
    controls.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    3.&#160;
</TD>
    <TD align="left">
    The independent auditors shall report, within 90&#160;days prior
    to the filing of a Fund&#146;s annual financial statements with
    the SEC, to the Audit Committee:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="19%"></TD>
    <TD width="6%"></TD>
    <TD width="75%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (a)&#160;
</TD>
    <TD align="left">
    all critical accounting policies and practices to be used;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (b)&#160;
</TD>
    <TD align="left">
    all alternative treatments of financial information within GAAP
    for policies and practices related to material items that have
    been discussed with Fund management, the ramifications of the
    use of such alternative disclosures and treatments, and the
    treatment preferred by the independent auditor;
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (c)&#160;
</TD>
    <TD align="left">
    other material written communications between the independent
    auditors and Fund management including, but not limited to, any
    management letter or schedule of unadjusted differences;&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (d)&#160;
</TD>
    <TD align="left">
    all non-audit services provided to an entity in the
    &#147;investment company
    complex&#148;<SUP style="font-size: 85%; vertical-align: top">7</SUP>

    as defined in paragraph (f)(14) of
    <FONT style="white-space: nowrap">Rule&#160;2-01</FONT>
    of
    <FONT style="white-space: nowrap">Regulation&#160;S-X</FONT>
    that were not pre-approved by the Audit Committee.
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV><DIV style="font-size: 1pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left" style="text-align:justify; margin-left: 2%; margin-right: 0%; text-indent: -2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    &#160;<SUP style="font-size: 85%; vertical-align: top">7</SUP><FONT style="font-size: 8pt">&#160;&#145;&#146;Investment

    company complex&#148; includes: (1)&#160;an investment company
    and its investment adviser or sponsor; (2)&#160;any entity
    controlled by or controlling an investment adviser or sponsor in
    (1)&#160;above, or any entity under common control with any
    investment adviser or sponsor in (1)&#160;above if the entity:
    (A)&#160;is an investment adviser or sponsor or (B)&#160;is
    engaged in the business of providing administrative, custodian,
    underwriter, or transfer agent services to any investment
    company, investment adviser, or sponsor; and (3)&#160;an
    investment company or entity that would be an investment company
    but for the exclusions provided by Section&#160;3(c) of the 1940
    Act that has an investment adviser or sponsor included in
    (1)&#160;and (2)&#160;above. Investment adviser does not include
    a subadviser whose role is primarily portfolio management and is
    subcontracted with or overseen by another investment adviser.
    Sponsor is an entity that establishes a unit investment trust.
    </FONT>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    D-9
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    4.&#160;
</TD>
    <TD align="left">
    Review, annually, with Fund management and the independent
    auditors, the Funds&#146; &#147;disclosure controls and
    procedures&#148;<SUP style="font-size: 85%; vertical-align: top">8</SUP>

    and the Funds&#146; &#147;internal control over financial
    reporting&#148;<SUP style="font-size: 85%; vertical-align: top">9</SUP>

    as defined in
    <FONT style="white-space: nowrap">Rule&#160;30a-3(c)</FONT>
    and (d)&#160;under the Investment Company Act of 1940.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="4%"></TD>
    <TD width="84%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    5.&#160;
</TD>
    <TD align="left">
    Review with Fund management and the independent auditors a
    report by Fund management covering any
    <FONT style="white-space: nowrap">Form&#160;N-CSR</FONT>
    and
    <FONT style="white-space: nowrap">Form&#160;N-Q</FONT>
    filed, and any required certification of such filing, along with
    the results of Fund management&#146;s most recent evaluation of
    the Funds&#146; &#147;disclosure controls and procedures&#148;
    and &#147;internal control over financial reporting.&#148;
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 6%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>E.&#160;Process Improvements</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="11%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    &#160;&#160;&#160;&#160;&#160;</TD>
    <TD align="left">
    Review with the independent auditors and Fund management
    significant changes or improvements in accounting and auditing
    processes that have been implemented.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 6%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>F.&#160;Legal and Compliance</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    1.&#160;
</TD>
    <TD align="left">
    Review any legal or regulatory matters that arise that could
    have a material impact on the Funds&#146; financial statements.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    2.&#160;
</TD>
    <TD align="left">
    Review policies and procedures with respect to financial
    statement risk assessment and risk management, including
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV><DIV style="font-size: 1pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left" style="text-align:justify; margin-left: 2%; margin-right: 0%; text-indent: -2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    &#160;<SUP style="font-size: 85%; vertical-align: top">8</SUP><FONT style="font-size: 8pt">&#160;&#147;Disclosure

    controls and procedures&#148; means controls and other
    procedures of a registered management investment company that
    are designed to ensure that information required to be disclosed
    by the investment company on
    <FONT style="white-space: nowrap">Form&#160;N-CSR</FONT>
    and
    <FONT style="white-space: nowrap">Form&#160;N-Q</FONT>
    is recorded, processed, summarized and reported, within the time
    periods specified in the SEC&#146;s rules and forms. Disclosure
    controls and procedures include, without limitation, controls
    and procedures designed to ensure that information required to
    be disclosed by an investment company in the reports that it
    files or submits on
    <FONT style="white-space: nowrap">Form&#160;N-CSR</FONT>
    and
    <FONT style="white-space: nowrap">Form&#160;N-Q</FONT>
    is accumulated and communicated to the investment company&#146;s
    management, including its principal executive officer or
    officers and principal financial officer or officers, or person
    performing similar functions, as appropriate to allow timely
    decisions regarding required disclosure.
    </FONT>
</DIV>

<DIV align="left" style="text-align:justify; margin-left: 2%; margin-right: 0%; text-indent: -2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    &#160;<SUP style="font-size: 85%; vertical-align: top">9</SUP><FONT style="font-size: 8pt">&#160;&#147;Internal

    control over financial reporting&#148; is a process designed by,
    or under the supervision of, the Funds&#146; principal executive
    and principal financial officers, or persons performing similar
    functions, and effected by the Funds&#146; Board, management and
    other personnel, to provide reasonable assurance regarding the
    reliability of financial reporting and the preparation of
    financial statements for external purposes in accordance with
    GAAP and includes those policies and procedures that: 1 .  Per
    tai n to th em ain ten anc e of rec ord s tha ti n rea son abl
    ed eta il ac cur ate ly and f air ly ref lec t th e tra nsac tio
    ns an d disp osi tio ns of th e ass ets of t he Fu nd;  2 .  Pro
    vi de  rea so nab le  as sur an ce  tha t t ran sa cti on s a
    re  rec or ded  as  ne ce ssa ry  to  pe rmi t pr epa rat ion o
    f fi nan cia l sta tem ent s in  acco rda nce  wit h GAA P, a nd
    t hat r ece ipt s an d exp end itu res  of th e Fu nd ar eb ein
    g mad eo nly i n acc orda nce w ith au tho riz ati on of ma nag
    eme nt an dd ire cto rs of th e Fun d; an d 3 .  P rov ide  rea
    son ab le a ssu ran ce  reg ard ing  pr eve nti on  or  tim ely
    det ect io n of  un aut hor ize d ac qui sit ion , use  or di
    spo sit ion  of th e Fu nds ' ass ets  that  cou ld ha ve a  mat
    eria l ef fec t on t he fi nan cia l st ate men ts.
    </FONT>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    D-10
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    the steps Fund management has taken to monitor and control such
    risk
    exposures.<SUP style="font-size: 85%; vertical-align: top">10</SUP>

</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    3.&#160;
</TD>
    <TD align="left">
    Establish clear hiring policies for the Funds with respect to
    employees or former employees of the independent auditors, and
    review similar policies of the Adviser in this regard.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 6%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>G.&#160;Other Responsibilities</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    1.&#160;
</TD>
    <TD align="left">
    Review, annually, the performance of the Audit Committee.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    2.&#160;
</TD>
    <TD align="left">
    If the Fund is a listed closed-end investment company, prepare a
    report of the Audit Committee as required to be included in the
    annual proxy
    statement.<SUP style="font-size: 85%; vertical-align: top">11</SUP>

</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    3.&#160;
</TD>
    <TD align="left">
    Investigate any other matter brought to its attention within the
    scope of its duties, and have the authority in its discretion to
    retain legal, accounting or other experts or consultants to
    advise the Audit Committee, at the expense of the Fund, if, in
    the Committee&#146;s judgment, that is appropriate.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    4.&#160;
</TD>
    <TD align="left">
    Perform any other activities consistent with this Charter, the
    Funds&#146; Charter, By-Laws and governing law, as the Audit
    Committee or the Board deems necessary or appropriate.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    5.&#160;
</TD>
    <TD align="left">
    Maintain minutes of Committee meetings; report its significant
    activities to the Board; and make such recommendations to the
    Board as the Audit Committee may deem necessary or appropriate.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 6%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>H.&#160;Frequency of Reviews</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 12%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Except as otherwise specifically provided herein, the Audit
    Committee shall review the matters recited in this Charter at
    such times and with such frequency as it deems necessary or
    appropriate, or as the Board may otherwise direct.
</DIV>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV><DIV style="font-size: 1pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left" style="text-align:justify; margin-left: 3%; margin-right: 0%; text-indent: -3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    &#160;<SUP style="font-size: 85%; vertical-align: top">10</SUP><FONT style="font-size: 8pt">&#160;The

    Board has delegated to other committees oversight related to
    investment risks.
    </FONT>
</DIV>

<DIV align="left" style="text-align:justify; margin-left: 3%; margin-right: 0%; text-indent: -3%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    &#160;<SUP style="font-size: 85%; vertical-align: top">11</SUP><FONT style="font-size: 8pt">&#160;Item&#160;407(d)

    of
    <FONT style="white-space: nowrap">Regulation&#160;S-K</FONT>
    requires each proxy statement relating to a shareholder meeting
    at which directors are to be elected to include a report,
    followed by the name of each Audit Committee member, stating
    whether: (1)&#160;the Committee has reviewed and discussed the
    audited financial statements with management, (2)&#160;the
    Committee has discussed with the independent auditors the
    matters required to be discussed by SAS 61, (3)&#160;the
    Committee has received the written disclosures and the letter
    from the independent auditors required by the requirements of
    the Public Company Accounting Oversight Board, and has discussed
    with the independent auditors their independence, and
    (4)&#160;based on the review and discussions referred to in
    paragraphs (1)&#160;through (3), the Audit Committee recommended
    to the Board that the audited financial statements be included
    in the Funds&#146; annual report to shareholders required by
    Section&#160;30(e) of the Investment Company Act of 1940 and
    <FONT style="white-space: nowrap">Rule&#160;30d-1</FONT>
    thereunder.
    </FONT>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    D-11
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">V.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">FUNDING</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Audit Committee shall receive appropriate funding, as
    determined by the Audit Committee, for payment of
    (i)&#160;compensation to the independent auditors for approved
    audit or non-audit services for the Fund; (ii)&#160;compensation
    to any legal, accounting or other experts or consultants
    retained by the Audit Committee pursuant to Section&#160;IV.G.3
    above and (iii)&#160;ordinary administrative expenses of the
    Audit Committee that are necessary or appropriate in carrying
    out its duties.
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    D-12
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;E</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">DWS
    FUNDS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 12pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">NOMINATING
    AND GOVERNANCE COMMITTEE CHARTER<BR>
    (EFFECTIVE APRIL&#160;1, 2008)</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">I.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">PURPOSE</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Nominating and Governance Committee (the
    &#147;Committee&#148;) is a committee of the Board of
    Trustees/Directors (the &#147;Board&#148;) of the DWS Funds. Its
    primary function is to recommend individuals for membership on
    the Board, to nominate officers, board and committee chairs and
    committee members and to oversee the operations of the Board.
    The Committee shall make such recommendations to the Board as it
    deems appropriate with respect to the matters set forth herein.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">II.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">COMPOSITION</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Committee shall be composed of three or more board
    members<SUP style="font-size: 85%; vertical-align: top">1</SUP>

    as determined by the Board, each of whom shall be an independent
    board member. For purposes of the Nominating and Governance
    Committee, a board member is independent if he or she is not an
    &#147;interested person&#148; of the Fund as that term is
    defined in the Investment Company Act of 1940.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">III.
    MEETINGS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The Committee shall meet on a regular basis as it deems
    necessary or appropriate and may hold special meetings as
    circumstances warrant.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">IV.&#160;&#160;</FONT></B>
</TD>
    <TD>
    <B><FONT style="font-family: 'Times New Roman', Times">RESPONSIBILITIES
    AND DUTIES</FONT></B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    To fulfill its responsibilities and duties the Committee shall:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 6%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>A.&#160;Board Nominations</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    1.&#160;
</TD>
    <TD align="left">
    Recommend individuals for membership on the Board, including
    recommendations of any general qualification standards for
    evaluation of such candidates.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    2.&#160;
</TD>
    <TD align="left">
    Recommend individuals for election as Chair and Vice Chair (if
    any) of the Board.
</TD>
</TR>

</TABLE>
<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV><DIV style="font-size: 1pt; margin-left: 0%; width: 13%; align: left; border-bottom: 1pt solid #000000"></DIV><DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
<DIV align="left" style="text-align:justify; margin-left: 2%; margin-right: 0%; text-indent: -2%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    &#160;<SUP style="font-size: 85%; vertical-align: top">1</SUP><FONT style="font-size: 8pt">&#160;To

    the extent the Fund is organized as a Massachusetts business
    trust, any references to &#147;directors&#148; or &#147;board
    members&#148; shall be deemed to mean &#147;trustees.&#148;
    </FONT>
</DIV>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    E-1
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    3.&#160;
</TD>
    <TD align="left">
    Evaluate candidates recommended for membership on the Board.
    Recommendations for candidates may come from shareholders, from
    other directors or from the Fund&#146;s investment manager.
    Shareholders may recommend candidates for Board positions by
    forwarding their correspondence by U.S.&#160;mail to a
    designated post office box.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 6%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>B.&#160;Committee Nominations and Functions</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    1.&#160;
</TD>
    <TD align="left">
    Review at least annually the charters of committees of the Board.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    2.&#160;
</TD>
    <TD align="left">
    Recommend individuals for membership on all committees and
    review committee assignments at least annually.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    3.&#160;
</TD>
    <TD align="left">
    Recommend individuals for Chair and Vice Chair of all committees.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="5%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <I>C.&#160;</I>
</TD>
    <TD align="left">
    <I>Officers Nominations and Functions</I>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 6%; margin-right: 0%; text-indent: 6%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Recommend individuals for election as officers of the Funds.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 6%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>D.&#160;Board Operations</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    1.&#160;
</TD>
    <TD align="left">
    Review matters related to the compensation of board members.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    2.&#160;
</TD>
    <TD align="left">
    Review matters related to the Funds&#146; Code of Ethics and
    potential conflicts of interests.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    3.&#160;
</TD>
    <TD align="left">
    Review other matters related to the operation of the Board,
    including policies relating to retirement of board members,
    ownership of fund shares by board members and other governance
    matters.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    4.&#160;
</TD>
    <TD align="left">
    Review at least annually the effectiveness of board and
    committee operations.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 6%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>E.&#160;Proxy Voting</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    1.&#160;
</TD>
    <TD align="left">
    At least annually, review policies and procedures relating to
    the voting of proxies for Fund portfolio investments.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    2.&#160;
</TD>
    <TD align="left">
    Review quarterly reports regarding the implementation of such
    policies.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 6%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>F.&#160;Engagement of Counsel</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    1.&#160;
</TD>
    <TD align="left">
    Review matters related to the engagement of counsel for the
    Funds and counsel for the independent board members.
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    E-2
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="5%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    <I>G.&#160;</I>
</TD>
    <TD align="left">
    <I>Frequency of Reviews</I>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 11%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    Except as otherwise specifically provided herein, the Committee
    shall review the matters recited in this Charter at such times
    and with such frequency as it deems necessary or appropriate, or
    as the Board may otherwise direct.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 6%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <I>H.&#160;Other Powers and Responsibilities</I>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="5%"></TD>
    <TD width="83%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    1.&#160;
</TD>
    <TD align="left">
    Review this Charter annually and recommend changes, if any, to
    the Board.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    2.&#160;
</TD>
    <TD align="left">
    Investigate any other matter brought to its attention within the
    scope of its duties.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    3.&#160;
</TD>
    <TD align="left">
    Perform any other activities consistent with this Charter, the
    Fund&#146;s Charter, By-Laws and governing law, as the Committee
    or the Board deems necessary or appropriate.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    4.&#160;
</TD>
    <TD align="left">
    The Committee may consult with counsel to the Funds and counsel
    to the independent board members and, subject to the approval of
    the Board, may retain such other outside counsel, consultants or
    other experts at the expense of the Fund as the Committee may
    deem appropriate.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    5.&#160;
</TD>
    <TD align="left">
    Maintain minutes of Committee meetings, report its significant
    activities to the Board, and make such recommendations to the
    Board as the Committee deems necessary or appropriate.
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    E-3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;F</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">ADVANCE
    NOTICE REQUIREMENTS FOR<BR>
    DWS DREMAN VALUE INCOME EDGE FUND, INC.</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following is an excerpt from the Amended and Restated
    By-Laws for DWS Dreman Value Income Edge Fund, Inc. The excerpt
    is qualified in its entirety by the complete Amended and
    Restated By-Laws for DWS Dreman Value Income Edge Fund, Inc. Any
    terms not defined herein have the meaning set forth in the
    Amended and Restated By-Laws.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    9.11&#160;</TD>
    <TD align="left">
    <U>Advance Notice of Shareholder Nominees for Directors and
    Other Shareholder Proposals</U>.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 6%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (a)&#160;<U>Annual Meetings of Shareholders</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (1)&#160;
</TD>
    <TD align="left">
    Nominations of individuals for election to the Board of
    Directors and the proposal of other business to be considered by
    the Shareholders may be made at an annual meeting
    (i)&#160;pursuant to the Corporation&#146;s notice of meeting
    given by the Secretary of the Corporation pursuant to
    Section&#160;9.5 of these Bylaws, (ii)&#160;by or at the
    direction of the Board of Directors or (iii)&#160;by any
    Shareholder of the Corporation if such Shareholder (A)&#160;can
    demonstrate to the Corporation record ownership of shares of the
    Corporation&#146;s stock, both as of the time the Shareholder
    Notice (as defined below) was delivered to the Secretary of the
    Corporation as provided in paragraph (2)&#160;of this
    Section&#160;9.11(a) and at the time of the annual meeting,
    (B)&#160;is entitled to vote the applicable shares at the
    meeting and (C)&#160;has complied with the procedures set forth
    in this Section&#160;9.11(a). The requirements of this
    Section&#160;9.11 shall apply to any business to be brought
    before an annual meeting by a Shareholder whether such business
    is to be included in the Corporation&#146;s proxy statement
    pursuant to
    <FONT style="white-space: nowrap">Rule&#160;14a-8</FONT>
    of the proxy rules (or any successor provision) promulgated
    under the 1934&#160;Act, presented to Shareholders by means of
    an independently financed proxy solicitation or otherwise
    presented to Shareholders.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (2)&#160;
</TD>
    <TD align="left">
    For nominations or other business to be properly brought before
    an annual meeting by a Shareholder pursuant to clause&#160;(iii)
    of paragraph (a)(1) of this Section&#160;9.11, the Shareholder
    must have given timely notice thereof in writing to the
    Secretary of the Corporation (a &#147;Shareholder Notice&#148;)
    and such other business must otherwise be a proper matter for
    action by the Shareholders. To be timely, a Shareholder Notice
    shall be delivered to the Secretary at
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    F-1
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    the principal executive office of the Corporation not earlier
    than the 150th&#160;day and not later than 5:00&#160;p.m.,
    Eastern Time, on the 120th&#160;day prior to the first
    anniversary of the date on which notice of the prior year&#146;s
    annual meeting was first given to Shareholders; provided,
    however, that in the event that the date of the annual meeting
    set forth in a notice of meeting given by the Secretary of the
    Corporation pursuant to Section&#160;9.5 of these Bylaws is
    advanced or delayed by more than 30&#160;days from the first
    anniversary of the date of the preceding year&#146;s annual
    meeting, the Shareholder Notice, to be timely, must be so
    delivered not earlier than the 120th&#160;day prior to the date
    of such annual meeting and not later than 5:00&#160;p.m.,
    Eastern Time, on the 90th&#160;day prior to the date of such
    annual meeting or, if the first public announcement of the date
    of such annual meeting is less than 100&#160;days prior to the
    date of such annual meeting, the tenth day following the day on
    which public announcement of the date of such meeting is first
    made by the Corporation. In no event shall any postponement or
    adjournment of an annual meeting, or the public announcement
    thereof, commence a new time period (or extend any time period)
    for the giving of a Shareholder Notice. To be in proper form, a
    Shareholder Notice (whether given pursuant to this
    Section&#160;9.11(a)(2) or Section&#160;9.11(b)) shall:
    (i)&#160;set forth as to each individual whom the Shareholder
    proposes to nominate for election or reelection as a director,
    (A)&#160;the name, age, date of birth, nationality, business
    address and residence address of such individual, (B)&#160;the
    class, series and number of any shares of stock of the
    Corporation that are owned of record or beneficially by such
    individual, (C)&#160;the date such shares were acquired and the
    investment intent of such acquisition, (D)&#160;whether such
    Shareholder believes any such individual is, or is not, an
    &#147;interested person&#148; of the Corporation, as defined in
    the 1940 Act and information regarding such individual that is
    sufficient, in the discretion of the Board of Directors or any
    committee thereof or any authorized officer of the Corporation,
    to make such determination, (E)&#160;all other information
    relating to such individual that would be required to be
    disclosed in a proxy statement or otherwise required to be made
    in connection with solicitations of proxies for election of
    directors in a contested election pursuant to
    Regulation&#160;14A (or any successor provision) under the
    1934&#160;Act and the rules and regulations thereunder
    (including such individual&#146;s written consent to being named
    in the proxy statement as a nominee and to serving as a director
    if elected), and (F)&#160;a description
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    F-2
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    of all direct and indirect compensation and other material
    monetary agreements, arrangements and understandings during the
    past three years, and any other material relationships, between
    or among such Shareholder and any Shareholder Associated Person
    (as defined below), if any, and their respective affiliates and
    associates, or others acting in concert therewith, on the one
    hand, and each proposed nominee, and his or her respective
    affiliates and associates, or others acting in concert
    therewith, on the other hand, including, without limitation, all
    information that would be required to be disclosed pursuant to
    Item&#160;404 promulgated under
    <FONT style="white-space: nowrap">Regulation&#160;S-K</FONT>
    if the Shareholder making the nomination and any Shareholder
    Associated Person, or any affiliate or associate thereof or
    Person acting in concert therewith, were the
    &#147;registrant&#148; for purposes of such Item and the nominee
    were a director or executive officer of such registrant;
    (ii)&#160;if the Shareholder Notice relates to any business
    other than a nomination of a director or directors that the
    Shareholder proposes to bring before the meeting, set forth
    (A)&#160;a brief description of the business desired to be
    brought before the meeting, the reasons for proposing such
    business at the meeting and any material interest in such
    business of such Shareholder and any Shareholder Associated
    Person, individually or in the aggregate, including any
    anticipated benefit to the Shareholder and any Shareholder
    Associated Person therefrom and (B)&#160;a description of all
    agreements, arrangements and understandings between such
    Shareholder and such Shareholder Associated Person, if any, and
    any other Person or Persons (including their names) in
    connection with the proposal of such business by such
    Shareholder; (iii)&#160;set forth, as to the Shareholder giving
    the Shareholder Notice and any Shareholder Associated Person,
    (A)&#160;the class, series and number of all shares of stock of
    the Corporation which are, directly or indirectly, owned
    beneficially and of record by such Shareholder and by such
    Shareholder Associated Person, if any, and the nominee holder
    for, and number of, shares owned beneficially but not of record
    by such Shareholder and by any such Shareholder Associated
    Person, (B)&#160;any option, warrant, convertible security,
    stock appreciation right or similar right with an exercise or
    conversion privilege or settlement payment date or mechanism at
    a price related to any class or series of shares of the
    Corporation or with value derived in whole or in part from the
    value of any class or series of shares of the Corporation,
    whether or not such instrument or right shall be subject to
    settlement in the underlying class
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    F-3
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    or series of capital stock of the Corporation or otherwise (a
    &#147;Derivative Instrument&#148;) directly or indirectly owned
    beneficially by such Shareholder and by such Shareholder
    Associated Person, if any, and any other direct or indirect
    opportunity to profit or share in any profit derived from any
    increase or decrease in the value of shares of the Corporation,
    (C)&#160;any proxy, contract, arrangement, understanding or
    relationship pursuant to which such Shareholder and such
    Shareholder Associated Person, if any, has a right to vote any
    shares of any security of the Corporation, (D)&#160;any short
    interest in any security of the Corporation (for purposes of
    this Section&#160;9.11(a)(2), a Person shall be deemed to have a
    short interest in a security if such Person directly or
    indirectly, through any contract, arrangement, understanding,
    relationship or otherwise, has the opportunity to profit or
    share in any profit derived from any decrease in the value of
    the subject security), (E)&#160;any rights to dividends on the
    shares of the Corporation owned beneficially by such Shareholder
    or Shareholder Associated Person, if any, that are separated or
    separable from the underlying shares of the Corporation,
    (F)&#160;any proportionate interest in the shares of the
    Corporation or Derivative Instruments held, directly or
    indirectly, by a general or limited partnership or other entity
    in which such Shareholder or Shareholder Associated Person, if
    any, is a general partner or holds a similar position or,
    directly or indirectly, beneficially owns an interest in a
    general partner or entity that holds a similar position,
    (G)&#160;any performance-related fees (other than an asset-based
    fee) that such Shareholder or Shareholder Associated Person, if
    any, is entitled to based on any increase or decrease in the
    value of shares of the Corporation or Derivative Instruments, if
    any, as of the date of the Shareholder Notice, including without
    limitation any such interest held by members of such
    Shareholder&#146;s or Shareholder Associated Person&#146;s, if
    any, immediate family sharing the same household (which
    information shall be supplemented by such Shareholder or
    Shareholder Associated Person, if any, not later than ten days
    after the record date for the meeting to disclose such ownership
    as of the record date) and (H)&#160;any other derivative
    positions held of record or beneficially by the Shareholder and
    any Shareholder Associated Person and whether and the extent to
    which any hedging or other transaction or series of transactions
    has been entered into by or on behalf of, or any other
    agreement, arrangement or understanding has been made, the
    effect or intent of which is to mitigate or otherwise
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    F-4
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    manage benefit, loss or risk of share price changes or to
    increase or decrease the voting power of, such Shareholder or
    any Shareholder Associated Person with respect to the
    Corporation&#146;s securities; (iv)&#160;set forth, as to the
    Shareholder giving the Shareholder Notice and any Shareholder
    Associated Person, (A)&#160;the name and address of such
    Shareholder as they appear on the Corporation&#146;s stock
    ledger and current name and address, if different, and of such
    Shareholder Associated Person and (B)&#160;any other information
    relating to such Shareholder and Shareholder Associated Person,
    if any, that would be required to be disclosed in a proxy
    statement or other filings required to be made in connection
    with solicitations of proxies for, as applicable, the proposal
    <FONT style="white-space: nowrap">and/or</FONT> for
    the election of directors in a contested election pursuant to
    Regulation&#160;14A (or any successor provision) under the
    1934&#160;Act and the rules and regulations thereunder;
    (v)&#160;set forth, to the extent known by the Shareholder
    giving the Shareholder Notice, the name and address of any other
    Shareholder or beneficial owner of shares of the
    Corporation&#146;s stock supporting the nominee for election or
    reelection as a director or the proposal of other business on
    the date of the applicable Shareholder Notice; (vi)&#160;with
    respect to each nominee for election or reelection as a
    director, be accompanied by a completed and signed
    questionnaire, representation and agreement required by
    Section&#160;9.12 of these Bylaws; (vii)&#160;set forth any
    material interest of the Shareholder providing the Shareholder
    Notice, or any Shareholder Associated Person, in the matter
    proposed (other than as a Shareholder of the Corporation); and
    (viii)&#160;include a representation that the Shareholder or an
    authorized representative thereof intends to appear in person at
    the meeting to act on the matter(s) proposed. With respect to
    the nomination of an individual for election or reelection as a
    director pursuant to Section&#160;9.11(a)(1)(iii), the
    Corporation may require the proposed nominee to furnish such
    other information as may reasonably be required by the
    Corporation to determine the eligibility of such proposed
    nominee to serve as an independent director of the Corporation
    or that could be material to a reasonable Shareholder&#146;s
    understanding of the independence, or lack thereof, of such
    nominee. If a nominee fails to provide such written information
    within five Business Days, the information requested may be
    deemed by the Board of Directors not to have been provided in
    accordance with this Section&#160;9.11.
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    F-5
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (3)&#160;
</TD>
    <TD align="left">
    Notwithstanding anything in the second sentence of subsection
    (a)(2) of this Section&#160;9.11 to the contrary, in the event
    the Board of Directors increases the number of directors and
    there is no public announcement by the Corporation naming all of
    the nominees for director or specifying the size of the
    increased Board of Directors at least 100&#160;days prior to the
    first anniversary of the preceding year&#146;s annual meeting, a
    Shareholder Notice required by this Section&#160;9.11(a) shall
    also be considered timely, but only with respect to nominees for
    any new positions created by such increase, if it shall be
    delivered to the Secretary at the principal executive office of
    the Corporation not later than 5:00&#160;p.m., Eastern Time, on
    the tenth day following the day on which such public
    announcement is first made by the Corporation.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (4)&#160;
</TD>
    <TD align="left">
    For purposes of this Section&#160;9.11, &#147;Shareholder
    Associated Person&#148; of any Shareholder shall mean
    (i)&#160;any Person controlling, directly or indirectly, or
    acting in concert with, such Shareholder, including any
    beneficial owner of the Corporation&#146;s securities on whose
    behalf a nomination or proposal is made, (ii)&#160;any
    beneficial owner of shares of stock of the Corporation owned of
    record or beneficially by such Shareholder and (iii)&#160;any
    Person controlling, controlled by or under common control with
    such Shareholder Associated Person. For purposes of the
    definition of Shareholder Associated Person, the term
    &#147;control&#148; (including the terms
    &#147;controlling,&#148; &#147;controlled by&#148; and
    &#147;under common control with&#148;) has the same meaning as
    in
    <FONT style="white-space: nowrap">Rule&#160;12b-2</FONT>
    under the 1934&#160;Act.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="5%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (b)&#160;
</TD>
    <TD align="left">
    <U>Special Meetings of Shareholders</U>. Only such business
    shall be conducted at a special meeting of Shareholders as shall
    have been brought before the meeting pursuant to the notice of
    meeting given by the Secretary of the Corporation pursuant to
    Section&#160;9.5 of these Bylaws. Nominations of individuals for
    election to the Board of Directors may be made at a special
    meeting of Shareholders at which directors are to be elected
    (i)&#160;pursuant to the Corporation&#146;s notice of meeting
    given by the Secretary of the Corporation pursuant to
    Section&#160;9.5 of these Bylaws, (ii)&#160;by or at the
    direction of the Board of Directors or (iii)&#160;provided that
    the Board of Directors has determined that directors shall be
    elected at such special meeting, by any Shareholder of the
    Corporation if such Shareholder (A)&#160;can demonstrate to the
    Corporation record ownership of such shares both as of the time
    the Shareholder Notice was delivered to the Secretary of the
    Corporation as provided in Section&#160;9.11(a)(2) of these
    Bylaws and at the time of the special meeting, (B)&#160;is
    entitled to vote the applicable shares
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    F-6
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="5%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    at the special meeting and (C)&#160;has complied with the
    procedures set forth in this Section&#160;9.11 as to such
    nomination. In the event that a special meeting of Shareholders
    is called for the purpose of electing one or more individuals to
    the Board of Directors, any Shareholder may nominate an
    individual or individuals (as the case may be) for election to
    such position(s) as specified in the Corporation&#146;s notice
    of meeting, if the Shareholder Notice required by paragraph
    (2)&#160;of Section&#160;9.11(a) of these Bylaws shall be
    delivered to the Secretary at the principal executive office of
    the Corporation not earlier than the 120th&#160;day prior to
    such special meeting of Shareholders and not later than
    5:00&#160;p.m., Eastern Time, on the 90th&#160;day prior to such
    special meeting or, if the first public announcement of the date
    of such special meeting of Shareholders is less than
    100&#160;days prior to the date of such special meeting, the
    tenth day following the day on which public announcement is
    first made of the date of the special meeting of Shareholders
    and of the nominees proposed by the Board of Directors to be
    elected at such meeting. In no event shall any postponement or
    adjournment of a special meeting of Shareholders, or the public
    announcement thereof, commence a new time period (or extend any
    time period) for the giving of a Shareholder Notice.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="5%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (c)&#160;
</TD>
    <TD align="left">
    <U>General</U>.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (1)&#160;
</TD>
    <TD align="left">
    Upon written request by the Secretary or the Board of Directors
    or any committee thereof, any Shareholder proposing a nominee
    for election as a director or any proposal for other business at
    a meeting of Shareholders shall provide, within five Business
    Days of delivery of such request (or such other period as may be
    specified in such request), written verification, satisfactory,
    in the discretion of the Board of Directors or any committee
    thereof or any authorized officer of the Corporation, to
    demonstrate the accuracy of any information submitted by the
    Shareholder pursuant to this Section&#160;9.11. If a Shareholder
    fails to provide such written verification within such period,
    the information as to which written verification was requested
    may be deemed by the Board of Directors not to have been
    provided in accordance with this Section&#160;9.11.
    Notwithstanding anything herein to the contrary, the Corporation
    shall have no obligation to inform a Shareholder of any defects
    with respect to the timing or substance of a Shareholder Notice
    or give such Shareholder an opportunity to cure any defects.
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    F-7
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (2)&#160;
</TD>
    <TD align="left">
    Only such individuals who are nominated in accordance with the
    procedures set forth in this Section&#160;9.11 shall be eligible
    for election by Shareholders as directors, and only such
    business shall be conducted at a meeting of Shareholders as
    shall have been brought before the meeting in accordance with
    the procedures set forth in these Bylaws. Except as otherwise
    provided by law, the charter of the Corporation or these
    By-laws, the chairman presiding over the meeting of Shareholders
    shall have the power to determine whether a nomination or any
    other business proposed to be brought before the meeting was
    made or proposed, as the case may be, in accordance with the
    charter or these Bylaws and, if any proposed nomination or
    business is not in compliance with the procedures set forth in
    the charter and these Bylaws, to declare that such defective
    proposal or nomination shall be disregarded. Any determination
    by the chairman presiding over a meeting of Shareholders shall
    be binding on all parties.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (3)&#160;
</TD>
    <TD align="left">
    For purposes of this Section&#160;9.11, &#147;public
    announcement&#148; shall mean disclosure (i)&#160;in a press
    release reported by the Dow Jones News Service, Associated
    Press, Business Wire, PR Newswire or comparable news service,
    (ii)&#160;in a document publicly filed by the Corporation with
    the Securities and Exchange Commission pursuant to the
    1934&#160;Act or the 1940 Act and the rules and regulations
    promulgated thereunder or (iii)&#160;on a Web site accessible to
    the public maintained by the Corporation or by its investment
    manager or an affiliate of such investment manager with respect
    to the Corporation.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (4)&#160;
</TD>
    <TD align="left">
    Notwithstanding the foregoing provisions of this
    Section&#160;9.11, a Shareholder shall also comply with all
    applicable law, including, without limitation, requirements of
    state law and of the 1934&#160;Act and the rules and regulations
    promulgated thereunder with respect to the matters set forth in
    this Section&#160;9.11. Nothing in this Section&#160;9.11 shall
    be deemed to affect any right of the holders of any class or
    series of the Corporation&#146;s preferred stock (if any) if and
    to the extent provided under law, the charter of the Corporation
    or these Bylaws.
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    F-8
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="right" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;G</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">ADVANCE
    NOTICE REQUIREMENTS FOR<BR>
    DWS MULTI-MARKET INCOME TRUST (&#147;KMM&#148;)<BR>
    DWS STRATEGIC INCOME TRUST (&#147;KST&#148;)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following is an excerpt from the Amended and Restated
    By-Laws for KMM and KST. The excerpt is qualified in its
    entirety by the complete Amended and Restated By-Laws for KMM
    and KST. Any terms not defined herein have the meaning set forth
    in the Amended and Restated By-Laws.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    9.9&#160;</TD>
    <TD align="left">
    <U>Advance Notice of Shareholder Nominees for Trustees and Other
    Shareholder Proposals</U>.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="5%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (a)&#160;
</TD>
    <TD align="left">
    <U>Annual Meetings of Shareholders</U>.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (1)&#160;
</TD>
    <TD align="left">
    Nominations of individuals for election to the Board of Trustees
    and the proposal of other business to be considered by the
    Shareholders may be made at an annual meeting (i)&#160;pursuant
    to the Trust&#146;s notice of meeting given by the Secretary or
    Trustees pursuant to Section&#160;9.3 of these By-laws,
    (ii)&#160;by or at the direction of the Board of Trustees or
    (iii)&#160;by any Shareholder if such Shareholder (A)&#160;can
    demonstrate to the Trust record ownership of Shares both as of
    the time the Shareholder Notice (as defined below) was delivered
    to the Secretary as provided in Section&#160;9.9(a)(2) of these
    By-laws and at the time of the annual meeting, (B)&#160;is
    entitled to vote the applicable Shares at the meeting and
    (C)&#160;has complied with the procedures set forth in this
    Section&#160;9.9(a). The requirements of this Section&#160;9.9
    will apply to any business to be brought before an annual
    meeting by a Shareholder whether such business is to be included
    in the Trust&#146;s proxy statement pursuant to
    <FONT style="white-space: nowrap">Rule&#160;14a-8</FONT>
    of the proxy rules (or any successor provision) promulgated
    under the 1934&#160;Act, presented to Shareholders by means of
    an independently financed proxy solicitation or otherwise
    presented to Shareholders.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (2)&#160;
</TD>
    <TD align="left">
    For nominations or other business to be properly brought before
    an annual meeting by a Shareholder pursuant to clause&#160;(iii)
    of paragraph (a)(1) of this Section&#160;9.9, the Shareholder
    must have given timely notice thereof in writing to the
    Secretary of the Trust (a &#147;Shareholder Notice&#148;) and
    such other business must otherwise be a proper matter for action
    by the Shareholders. To be timely, a Shareholder Notice shall be
    delivered to the Secretary at the principal executive office of
    the Trust not earlier than the 150th&#160;day and not later than
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    G-1
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    5:00&#160;p.m., Eastern Time, on the 120th&#160;day prior to the
    first anniversary of the date on which notice of the prior
    year&#146;s annual meeting was first given to Shareholders.
    However, in the event that the date of the annual meeting set
    forth in a notice of meeting given by the Secretary or Trustees
    pursuant to Section&#160;9.3 of these By-laws is advanced or
    delayed by more than 30&#160;days from the first anniversary of
    the date of the preceding year&#146;s annual meeting, the
    Shareholder Notice, to be timely, must be so delivered not
    earlier than the 120th&#160;day prior to the date of such annual
    meeting and not later than 5:00&#160;p.m., Eastern Time, on the
    90th&#160;day prior to the date of such annual meeting or, if
    the first public announcement of the date of such annual meeting
    is less than 100&#160;days prior to the date of such annual
    meeting, the tenth day following the day on which public
    announcement of the date of such meeting is first made by the
    Trust. In no event shall any postponement or adjournment of an
    annual meeting, or the public announcement thereof, commence a
    new time period (or extend any time period) for the giving of a
    Shareholder Notice. To be in proper form, a Shareholder Notice
    (whether given pursuant to this Section&#160;9.9(a)(2) or
    Section 9.9(b)) shall: (i)&#160;set forth as to each individual
    whom the Shareholder proposes to nominate for election or
    reelection as a Trustee, (A)&#160;the name, age, date of birth,
    nationality, business address and residence address of such
    individual, (B)&#160;the class, series and number of any shares
    of beneficial interest of the Trust that are owned of record or
    beneficially owned by such individual, (C)the date such shares
    were acquired and the investment intent of such acquisition,
    (D)&#160;whether such Shareholder believes any such individual
    is, or is not, an &#147;interested person&#148; of the Trust, as
    defined in the 1940 Act and information regarding such
    individual that is sufficient, in the discretion of the Board of
    Trustees or any committee thereof or any authorized officer of
    the Trust, to make such determination, (E)&#160;all other
    information relating to such individual that would be required
    to be disclosed in a proxy statement or otherwise required to be
    made in connection with solicitations of proxies for election of
    Trustees in a contested election pursuant to Regulation&#160;14A
    (or any successor provision) under the 1934&#160;Act (including
    such individual&#146;s written consent to being named in the
    proxy statement as a nominee and to serving as a Trustee if
    elected), and (F)&#160;a description of all direct and indirect
    compensation and other material monetary agreements,
    arrangements and understandings during the past three years, and
    any other material relationships, between or among such
    Shareholder
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    G-2
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    and any Shareholder Associated Person (as defined below), if
    any, and their respective affiliates and associates, or others
    acting in concert therewith, on the one hand, and each proposed
    nominee, and his or her respective affiliates and associates, or
    others acting in concert therewith, on the other hand,
    including, without limitation, all information that would be
    required to be disclosed pursuant to Item&#160;404 promulgated
    under
    <FONT style="white-space: nowrap">Regulation&#160;S-K</FONT>
    if the Shareholder making the nomination and any Shareholder
    Associated Person, or any affiliate or associate thereof or
    Person acting in concert therewith, were the
    &#147;registrant&#148; for purposes of such Item and the nominee
    were a Trustee or executive officer of such registrant;
    (ii)&#160;if the Shareholder Notice relates to any business
    other than a nomination of a Trustee or Trustees that the
    Shareholder proposes to bring before the meeting, set forth
    (A)&#160;a brief description of the business desired to be
    brought before the meeting, the reasons for proposing such
    business at the meeting and any material interest in such
    business of such Shareholder and any Shareholder Associated
    Person, individually or in the aggregate, including any
    anticipated benefit to the Shareholder and any Shareholder
    Associated Person therefrom and (B)&#160;a description of all
    agreements, arrangements and understandings between such
    Shareholder and such Shareholder Associated Person, if any, and
    any other Person or Persons (including their names) in
    connection with the proposal of such business by such
    Shareholder; (iii)&#160;set forth, as to the Shareholder giving
    the Shareholder Notice and any Shareholder Associated Person,
    (A)&#160;the class, series and number of all shares of
    beneficial interest of the Trust which are, directly or
    indirectly, owned beneficially and of record by such Shareholder
    and by such Shareholder Associated Person, if any, and the
    nominee holder for, and number of, shares owned beneficially but
    not of record by such Shareholder and by any such Shareholder
    Associated Person, (B)&#160;any option, warrant, convertible
    security, appreciation right or similar right with an exercise
    or conversion privilege or settlement payment date or mechanism
    at a price related to any class or series of shares of the Trust
    or with value derived in whole or in part from the value of any
    class or series of shares of the Trust, whether or not such
    instrument or right shall be subject to settlement in the
    underlying class or series of shares of beneficial interest of
    the Trust or otherwise (a &#147;Derivative Instrument&#148;)
    directly or indirectly owned beneficially by such Shareholder
    and by such Shareholder Associated Person, if any, and any other
    direct or indirect opportunity to profit or share in any profit
    derived from
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    G-3
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    any increase or decrease in the value of shares of the Trust,
    (C)&#160;any proxy, contract, arrangement, understanding or
    relationship pursuant to which such Shareholder and such
    Shareholder Associated Person, if any, has a right to vote any
    shares of any security of the Trust, (D)&#160;any short interest
    in any security of the Trust (for purposes of this
    Section&#160;9.9(a)(2), a Person shall be deemed to have a short
    interest in a security if such Person directly or indirectly,
    through any contract, arrangement, understanding, relationship
    or otherwise, has the opportunity to profit or share in any
    profit derived from any decrease in the value of the subject
    security), (E)&#160;any rights to dividends on the shares of the
    Trust owned beneficially by such Shareholder or Shareholder
    Associated Person, if any, that are separated or separable from
    the underlying shares of the Trust, (F)&#160;any proportionate
    interest in the shares of the Trust or Derivative Instruments
    held, directly or indirectly, by a general or limited
    partnership or other entity in which such Shareholder or
    Shareholder Associated Person, if any, is a general partner or
    holds a similar position or, directly or indirectly,
    beneficially owns an interest in a general partner or entity
    that holds a similar position, (G)&#160;any performance-related
    fees (other than an asset-based fee) that such Shareholder or
    Shareholder Associated Person, if any, is entitled to based on
    any increase or decrease in the value of shares of the Trust or
    Derivative Instruments, if any, as of the date of the
    Shareholder Notice, including without limitation any such
    interest held by members of such Shareholder&#146;s or
    Shareholder Associated Person&#146;s, if any, immediate family
    sharing the same household (which information shall be
    supplemented by such Shareholder or Shareholder Associated
    Person, if any, not later than ten days after the record date
    for the meeting to disclose such ownership as of the record
    date) and (H)&#160;any other derivative positions held of record
    or beneficially by the Shareholder and any Shareholder
    Associated Person and whether and the extent to which any
    hedging or other transaction or series of transactions has been
    entered into by or on behalf of, or any other agreement,
    arrangement or understanding has been made, the effect or intent
    of which is to mitigate or otherwise manage benefit, loss or
    risk of share price changes or to increase or decrease the
    voting power of, such Shareholder or any Shareholder Associated
    Person with respect to the Trust&#146;s securities;
    (iv)&#160;set forth, as to the Shareholder giving the
    Shareholder Notice and any Shareholder Associated Person,
    (A)&#160;the name and address of such Shareholder as they appear
    on the Trust&#146;s share ledger and current name and address,
    if
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    G-4
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    different, and of such Shareholder Associated Person and
    (B)&#160;any other information relating to such Shareholder and
    Shareholder Associated Person, if any, that would be required to
    be disclosed in a proxy statement or other filings required to
    be made in connection with solicitations of proxies for, as
    applicable, the proposal
    <FONT style="white-space: nowrap">and/or</FONT> for
    the election of Trustees in a contested election pursuant to
    Regulation&#160;14A (or any successor provision) of the
    1934&#160;Act; (v)&#160;set forth, to the extent known by the
    Shareholder giving the Shareholder Notice, the name and address
    of any other Shareholder or beneficial owner of Shares
    supporting the nominee for election or reelection as a Trustee
    or the proposal of other business on the date of the applicable
    Shareholder Notice; (vi)&#160;with respect to each nominee for
    election or reelection as a Trustee, be accompanied by a
    completed and signed questionnaire, representation and agreement
    required by Section&#160;9.10 of these Bylaws; (vii)&#160;set
    forth any material interest of the Shareholder providing the
    Shareholder Notice, or any Shareholder Associated Person, in the
    matter proposed (other than as a shareholder of the Trust); and
    (viii)&#160;include a representation that the Shareholder or an
    authorized representative thereof intends to appear in person at
    the meeting to act on the matter(s) proposed. With respect to
    the nomination of an individual for election or reelection as a
    Trustee pursuant to Section 9 .9(a)(1)(iii), the Trust may
    require the proposed nominee to furnish such other information
    as may reasonably be required by the Trust to determine the
    eligibility of such proposed nominee to serve an in independent
    Trustee of the Trust or that could be material to a reasonable
    shareholder&#146;s understanding of the independence, or lack
    thereof, of such nominee. If a nominee fails to provide such
    written information within five Business Days, the information
    requested may be deemed by the Board of Trustees not to have
    been provided in accordance with this Section&#160;9.9.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (3)&#160;
</TD>
    <TD align="left">
    Notwithstanding anything in the second sentence of subsection
    (a)(2) of this Section&#160;9.9 to the contrary, in the event
    the Board of Trustees increases the number of Trustees and there
    is no public announcement by the Trust naming all of the
    nominees for Trustee or specifying the size of the increased
    Board of Trustees at least 100&#160;days prior to the first
    anniversary of the preceding year&#146;s annual meeting, a
    Shareholder Notice required by this Section&#160;9.9(a) shall
    also be considered timely, but only with respect to nominees for
    any new positions created by such increase, if it shall be
    delivered to the Secretary at the principal executive office of
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    G-5
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    the Trust not later than 5:00&#160;p.m., Eastern Time, on the
    tenth day following the day on which such public announcement is
    first made by the Trust.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (4)&#160;
</TD>
    <TD align="left">
    For purposes of this Section&#160;9.9, &#147;Shareholder
    Associated Person&#148; of any Shareholder shall mean
    (i)&#160;any Person controlling, directly or indirectly, or
    acting in concert with, such Shareholder, including any
    beneficial owner of the Trust&#146;s securities on whose behalf
    a nomination or proposal is made, (ii)&#160;any beneficial owner
    of shares of beneficial interest of the Trust owned of record or
    beneficially by such Shareholder and (iii)&#160;any Person
    controlling, controlled by or under common control with such
    Shareholder Associated Person. For purposes of the definition of
    Shareholder Associated Person, the term &#147;control&#148;
    (including the terms &#147;controlling,&#148; &#147;controlled
    by&#148; and &#147;under common control with&#148;) has the same
    meaning as in
    <FONT style="white-space: nowrap">Rule&#160;12b-2</FONT>
    under the 1934&#160;Act.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="5%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (b)&#160;
</TD>
    <TD align="left">
    <U>Special Meetings of Shareholders</U>. Only such business
    shall be conducted at a special meeting of Shareholders as shall
    have been brought before the meeting pursuant to the notice of
    meeting given by the Secretary or Trustees pursuant to
    Section&#160;9.3 of these By-laws. Nominations of individuals
    for election to the Board of Trustees may be made at a special
    meeting of Shareholders at which Trustees are to be elected
    (i)&#160;pursuant to the Trust&#146;s notice of meeting given by
    the Secretary or Trustees pursuant to Section&#160;9.3 of these
    By-laws, (ii)&#160;by or at the direction of the Board of
    Trustees or (iii)&#160;provided that the Board of Trustees has
    determined that Trustees shall be elected at such special
    meeting, by any Shareholder if such Shareholder (A)&#160;can
    demonstrate to the Trust record ownership of Shares both as of
    the time the Shareholder Notice was delivered to the Secretary
    as provided in Section&#160;9.9(a)(2) of these By-laws and at
    the time of the special meeting, (B)&#160;is entitled to vote
    the applicable Shares at the special meeting and (C)&#160;has
    complied with the procedures set forth in this Section&#160;9.9
    as to such nomination. In the event that a special meeting of
    Shareholders is called for the purpose of electing one or more
    individuals to the Board of Trustees, any Shareholder may
    nominate an individual or individuals (as the case may be) for
    election to such position(s) as specified in the Trust&#146;s
    notice of meeting, if the Shareholder Notice required by
    paragraph (2)&#160;of Section&#160;9.9(a) of these By-laws shall
    be delivered to the Secretary at the principal executive office
    of the Trust not earlier than the 120th&#160;day prior to such
    special meeting of Shareholders and not later than
    5:00&#160;p.m., Eastern Time, on the 90th&#160;day prior to such
    special meeting or, if the first public announcement of the date
    of such special meeting of Shareholders is less than
    100&#160;days prior to the date of such special meeting, the
    tenth day following the day on which
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    G-6
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="5%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    public announcement is first made of the date of the special
    meeting of Shareholders and of the nominees proposed by the
    Board of Trustees to be elected at such meeting. In no event
    shall any postponement or adjournment of a special meeting of
    Shareholders, or the public announcement thereof, commence a new
    time period (or extend any time period) for the giving of a
    Shareholder Notice.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="5%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (c)&#160;
</TD>
    <TD align="left">
    <U>General</U>.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (1)&#160;
</TD>
    <TD align="left">
    Upon written request by the Secretary or the Board of Trustees
    or any committee thereof, any Shareholder proposing a nominee
    for election as a Trustee or any proposal for other business at
    a meeting of Shareholders shall provide, within five Business
    Days of delivery of such request (or such other period as may be
    specified in such request), written verification, satisfactory,
    in the discretion of the Board of Trustees or any committee
    thereof or any authorized officer of the Trust, to demonstrate
    the accuracy of any information submitted by the Shareholder
    pursuant to this Section&#160;9.9. If a Shareholder fails to
    provide such written verification within such period, the
    information as to which written verification was requested may
    be deemed by the Board of Trustees not to have been provided in
    accordance with this Section&#160;9.9. Notwithstanding anything
    herein to the contrary, the Trust shall have no obligation to
    inform a Shareholder of any defects with respect to the timing
    or substance of a Shareholder Notice or give such Shareholder an
    opportunity to cure any defects.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (2)&#160;
</TD>
    <TD align="left">
    Only such individuals who are nominated in accordance with the
    procedures set forth in this Section&#160;9.9 shall be eligible
    for election by Shareholders as Trustees, and only such business
    shall be conducted at a meeting of Shareholders as shall have
    been brought before the meeting in accordance with the
    procedures set forth in these By-laws. Except as otherwise
    provided by law, the Declaration or these By-laws, the chairman
    presiding over the meeting of Shareholders shall have the power
    to determine whether a nomination or any other business proposed
    to be brought before the meeting was made or proposed, as the
    case may be, in accordance with the Declaration and these
    By-laws and, if any proposed nomination or business is not in
    compliance with the procedures set forth in the Declaration or
    these By-laws, to declare that such defective proposal or
    nomination shall be disregarded. Any determination by the
    chairman presiding over a meeting of Shareholders shall be
    binding on all parties.
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    G-7
</DIV><!-- END PAGE WIDTH -->
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (3)&#160;
</TD>
    <TD align="left">
    For purposes of this Section&#160;9.9, &#147;public
    announcement&#148; shall mean disclosure (i)&#160;in a press
    release reported by the Dow Jones News Service, Associated
    Press, Business Wire, PR Newswire or comparable news service,
    (ii)&#160;in a document publicly filed by the Trust with the
    Securities and Exchange Commission pursuant to the 1934&#160;Act
    or the 1940 Act and the rules and regulations promulgated
    thereunder or (iii)&#160;on a Web site accessible to the public
    maintained by the Trust or by its investment adviser or an
    affiliate of such investment adviser with respect to the Trust.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (4)&#160;
</TD>
    <TD align="left">
    Notwithstanding the foregoing provisions of this
    Section&#160;9.9, a Shareholder shall also comply with all
    applicable law, including, without limitation, requirements of
    state law and of the 1934&#160;Act and the rules and regulations
    promulgated thereunder, with respect to the matters set forth in
    this Section&#160;9.9.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    9.10&#160;</TD>
    <TD align="left">
    <U>Submission of Questionnaire, Representation and
    Agreement</U>. To be eligible to be a Shareholder nominee for
    election as a Trustee of the Trust, the proposed nominee must
    deliver (in accordance with the time periods prescribed for
    delivery of a Shareholder Notice) to the Secretary of the Trust
    at the principal executive office of the Trust a written
    questionnaire with respect to the background and qualification
    of such person (which questionnaire shall be provided by the
    Secretary of the Trust upon written request) and a written
    representation and agreement that such person (a)&#160;is not
    and will not become a party to (1)&#160;any agreement,
    arrangement or understanding with, and has not given any
    commitment or assurance to, any Person as to how such person, if
    elected as a Trustee of the Trust, will act or vote on any issue
    or question (a &#147;Voting Commitment&#148;) that has not been
    disclosed to the Trust or (2)&#160;any Voting Commitment that
    could limit or interfere with such person&#146;s ability to
    comply, if elected as a Trustee of the Trust, with such
    person&#146;s fiduciary duties under applicable law, (b)&#160;is
    not and will not become a party to any agreement, arrangement or
    understanding with any Person other than the Trust with respect
    to any direct or indirect compensation, reimbursement or
    indemnification in connection with service or action as a
    Trustee that has not been disclosed therein and (c)&#160;in such
    person&#146;s individual capacity, would be in compliance, if
    elected as a Trustee of the Trust, and will comply with all
    applicable publicly disclosed trust governance, conflict of
    interest, confidentiality and share ownership and trading
    policies and guidelines of the Trust.
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    G-8
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<DIV align="right" style="margin-left: 7%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">EXHIBIT&#160;H</FONT></B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 7%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">ADVANCE
    NOTICE REQUIREMENTS FOR<BR>
    DWS MUNICIPAL INCOME TRUST (&#147;KTF&#148;)<BR>
    DWS STRATEGIC MUNICIPAL INCOME TRUST (&#147;KSM&#148;)</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    The following is an excerpt from the Amended and Restated
    By-Laws for KTF and KSM. The excerpt is qualified in its
    entirety by the complete Amended and Restated By-Laws for KTF
    and KSM. Any terms not defined herein have the meaning set forth
    in the Amended and Restated By-Laws.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    2.6&#160;</TD>
    <TD align="left">
    <U>Advance Notice of Shareholder Nominees for Trustees and Other
    Shareholder Proposals and Shareholder-Requested Special
    Meetings</U>.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="5%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (a)&#160;
</TD>
    <TD align="left">
    <U>Applicability and Definitions</U>. This Section&#160;2.6
    shall not apply to any preferred share of beneficial interest of
    the Trust or holder thereof to the extent that it would alter,
    amend or repeal any right, power or preference of such preferred
    share or any holder thereof. For purposes of this
    Section&#160;2.6, the following terms have the following
    meanings: &#147;Shareholder&#148; means any record owner of
    common shares of beneficial interest of the Trust;
    &#147;1934&#160;Act&#148; means the Securities Exchange Act of
    1934 and the rules and regulations thereunder, all as amended
    from time to time; and &#147;1940 Act&#148; means the Investment
    Company Act of 1940 and the rules and regulations thereunder,
    all as amended from time to time.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 6%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (b)&#160;<U>Annual Meetings of Shareholders</U>.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (1)&#160;
</TD>
    <TD align="left">
    Except as provided in Article&#160;IV Section&#160;1(f) of the
    Declaration, Trustees shall be elected only at annual meetings.
    Nominations of individuals for election to the Board of Trustees
    and the proposal of other business to be considered by the
    shareholders may be made at an annual meeting (i)&#160;pursuant
    to the Trust&#146;s notice of meeting given pursuant to Section
    2.3 of these By-laws, (ii)&#160;by or at the direction of the
    Board of Trustees or (iii)&#160;by any Shareholder if such
    record owner (A)&#160;can demonstrate to the Trust record
    ownership of shares of beneficial interest of the Trust both as
    of the time the Shareholder Notice (as defined below) was
    delivered to the Secretary as provided in Section&#160;2.6(b)(2)
    of these By-laws and at the time of the annual meeting,
    (B)&#160;is entitled to vote the applicable shares of beneficial
    interest of the Trust at the meeting and (C)&#160;has complied
    with the procedures set forth in this Section&#160;2.6(b). The
    requirements of this Section&#160;2.6 will apply to any business
    to be brought
</TD>
</TR>

</TABLE>

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    <BR>
    H-1
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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    before an annual meeting by a Shareholder whether such business
    is to be included in the Trust&#146;s proxy statement pursuant
    to
    <FONT style="white-space: nowrap">Rule&#160;14a-8</FONT>
    of the proxy rules (or any successor provision) promulgated
    under the 1934&#160;Act, presented to shareholders by means of
    an independently financed proxy solicitation or otherwise
    presented to shareholders.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (2)&#160;
</TD>
    <TD align="left">
    For nominations or other business to be properly brought before
    an annual meeting by a Shareholder pursuant to clause&#160;(iii)
    of paragraph (b)(1) of this Section&#160;2.6, the Shareholder
    must have given timely notice thereof in writing to the
    Secretary of the Trust (a &#147;Shareholder Notice&#148;) and
    such other business must otherwise be a proper matter for action
    by the shareholders. To be timely, a Shareholder Notice shall be
    delivered to the Secretary at the principal executive office of
    the Trust not earlier than the 150th&#160;day and not later than
    5:00&#160;p.m., Eastern Time, on the 120th&#160;day prior to the
    first anniversary of the date on which notice of the prior
    year&#146;s annual meeting was first given to shareholders.
    However, in the event that the date of the annual meeting set
    forth in a notice of meeting given by the Secretary or Trustees
    pursuant to Section&#160;2.3 of these By-laws is advanced or
    delayed by more than 30&#160;days from the first anniversary of
    the date of the preceding year&#146;s annual meeting, the
    Shareholder Notice, to be timely, must be so delivered not
    earlier than the 120th&#160;day prior to the date of such annual
    meeting and not later than 5:00&#160;p.m., Eastern Time, on the
    90th&#160;day prior to the date of such annual meeting or, if
    the first public announcement of the date of such annual meeting
    is less than 100&#160;days prior to the date of such annual
    meeting, the tenth day following the day on which public
    announcement of the date of such meeting is first made by the
    Trust. In no event shall any postponement or adjournment of an
    annual meeting, or the public announcement thereof, commence a
    new time period (or extend any time period) for the giving of a
    Shareholder Notice. To be in proper form, a Shareholder Notice
    (whether given pursuant to this Section&#160;2.6(b)(2) or
    Section&#160;2.6(c)) shall: (i)&#160;set forth as to each
    individual whom the Shareholder proposes to nominate for
    election or reelection as a Trustee, (A)&#160;the name, age,
    date of birth, nationality, business address and residence
    address of such individual, (B)&#160;the class, series and
    number of any shares of beneficial interest of the Trust that
    are owned of record or beneficially owned by such individual,
    (C)&#160;the date such shares were acquired and the investment
    intent of such acquisition, (D)&#160;whether such
</TD>
</TR>

</TABLE>

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    <BR>
    H-2
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    Shareholder believes any such individual is, or is not, an
    &#147;interested person&#148; of the Trust, as defined in the
    1940 Act and information regarding such individual that is
    sufficient, in the discretion of the Board of Trustees or any
    committee thereof or any authorized officer of the Trust, to
    make such determination, (E)&#160;all other information relating
    to such individual that would be required to be disclosed in a
    proxy statement or otherwise required to be made in connection
    with solicitations of proxies for election of Trustees in a
    contested election pursuant to Regulation&#160;14A (or any
    successor provision) under the 1934&#160;Act (including such
    individual&#146;s written consent to being named in the proxy
    statement as a nominee and to serving as a Trustee if elected),
    and (F)&#160;a description of all direct and indirect
    compensation and other material monetary agreements,
    arrangements and understandings during the past three years, and
    any other material relationships, between or among such
    Shareholder and any Shareholder Associated Person (as defined
    below), if any, and their respective affiliates and associates,
    or others acting in concert therewith, on the one hand, and each
    proposed nominee, and his or her respective affiliates and
    associates, or others acting in concert therewith, on the other
    hand, including, without limitation, all information that would
    be required to be disclosed pursuant to Item&#160;404
    promulgated under
    <FONT style="white-space: nowrap">Regulation&#160;S-K</FONT>
    if the Shareholder making the nomination and any Shareholder
    Associated Person, or any affiliate or associate thereof or
    Person acting in concert therewith, were the
    &#147;registrant&#148; for purposes of such Item and the nominee
    were a Trustee or executive officer of such registrant;
    (ii)&#160;if the Shareholder Notice relates to any business
    other than a nomination of a Trustee or Trustees that the
    Shareholder proposes to bring before the meeting, set forth
    (A)&#160;a brief description of the business desired to be
    brought before the meeting, the reasons for proposing such
    business at the meeting and any material interest in such
    business of such Shareholder and any Shareholder Associated
    Person, individually or in the aggregate, including any
    anticipated benefit to the Shareholder and any Shareholder
    Associated Person therefrom and (B)&#160;a description of all
    agreements, arrangements and understandings between such
    Shareholder and such Shareholder Associated Person, if any, and
    any other Person or Persons (including their names) in
    connection with the proposal of such business by such
    Shareholder; (iii)&#160;set forth, as to the Shareholder giving
    the Shareholder Notice and any Shareholder Associated Person,
</TD>
</TR>

</TABLE>

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    <BR>
    H-3
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    (A)&#160;the class, series and number of all shares of
    beneficial interest of the Trust which are, directly or
    indirectly, owned beneficially and of record by such Shareholder
    and by such Shareholder Associated Person, if any, and the
    nominee holder for, and number of, shares owned beneficially but
    not of record by such Shareholder and by any such Shareholder
    Associated Person, (B)&#160;any option, warrant, convertible
    security, appreciation right or similar right with an exercise
    or conversion privilege or settlement payment date or mechanism
    at a price related to any class or series of shares of the Trust
    or with value derived in whole or in part from the value of any
    class or series of shares of the Trust, whether or not such
    instrument or right shall be subject to settlement in the
    underlying class or series of shares of beneficial interest of
    the Trust or otherwise (a &#147;Derivative Instrument&#148;)
    directly or indirectly owned beneficially by such Shareholder
    and by such Shareholder Associated Person, if any, and any other
    direct or indirect opportunity to profit or share in any profit
    derived from any increase or decrease in the value of shares of
    the Trust, (C)&#160;any proxy, contract, arrangement,
    understanding or relationship pursuant to which such Shareholder
    and such Shareholder Associated Person, if any, has a right to
    vote any shares of any security of the Trust, (D)&#160;any short
    interest in any security of the Trust (for purposes of this
    Section&#160;2.6(b)(2), a Person shall be deemed to have a short
    interest in a security if such Person directly or indirectly,
    through any contract, arrangement, understanding, relationship
    or otherwise, has the opportunity to profit or share in any
    profit derived from any decrease in the value of the subject
    security), (E)&#160;any rights to dividends on the shares of the
    Trust owned beneficially by such Shareholder or Shareholder
    Associated Person, if any, that are separated or separable from
    the underlying shares of the Trust, (F)&#160;any proportionate
    interest in the shares of the Trust or Derivative Instruments
    held, directly or indirectly, by a general or limited
    partnership or other entity in which such Shareholder or
    Shareholder Associated Person, if any, is a general partner or
    holds a similar position, directly or indirectly, beneficially
    owns an interest in a general partner, or entity that holds a
    similar position (G)&#160;any performance-related fees (other
    than an asset-based fee) that such Shareholder or Shareholder
    Associated Person, if any, is entitled to based on any increase
    or decrease in the value of shares of the Trust or Derivative
    Instruments, if any, as of the date of the Shareholder Notice,
    including without limitation any such interest held by
</TD>
</TR>

</TABLE>

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    <BR>
    H-4
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    members of such Shareholder&#146;s or Shareholder Associated
    Person&#146;s, if any, immediate family sharing the same
    household (which information shall be supplemented by such
    Shareholder or Shareholder Associated Person, if any, not later
    than ten days after the record date for the meeting to disclose
    such ownership as of the record date) and (H)&#160;any other
    derivative positions held of record or beneficially by the
    Shareholder and any Shareholder Associated Person and whether
    and the extent to which any hedging or other transaction or
    series of transactions has been entered into by or on behalf of,
    or any other agreement, arrangement or understanding has been
    made, the effect or intent of which is to mitigate or otherwise
    manage benefit, loss or risk of share price changes or to
    increase or decrease the voting power of, such Shareholder or
    any Shareholder Associated Person with respect to the
    Trust&#146;s securities; (iv)&#160;set forth, as to the
    Shareholder giving the Shareholder Notice and any Shareholder
    Associated Person, (A)&#160;the name and address of such
    Shareholder as they appear on the Trust&#146;s share ledger and
    current name and address, if different, and of such Shareholder
    Associated Person and (B)&#160;any other information relating to
    such Shareholder and Shareholder Associated Person, if any, that
    would be required to be disclosed in a proxy statement or other
    filings required to be made in connection with solicitations of
    proxies for, as applicable, the proposal
    <FONT style="white-space: nowrap">and/or</FONT> for
    the election of Trustees in a contested election pursuant to
    Regulation&#160;14A (or any successor provision) of the
    1934&#160;Act; (v)&#160;set forth, to the extent known by the
    Shareholder giving the Shareholder Notice, the name and address
    of any other shareholder or beneficial owner of shares of
    beneficial interest of the Trust supporting the nominee for
    election or reelection as a Trustee or the proposal of other
    business on the date of the applicable Shareholder Notice;
    (vi)&#160;with respect to each nominee for election or
    reelection as a Trustee, be accompanied by a completed and
    signed questionnaire, representation and agreement required by
    Section&#160;2.6(e) of these Bylaws; (vii)&#160;set forth any
    material interest of the Shareholder providing the Shareholder
    Notice, or any Shareholder Associated Person, in the matter
    proposed (other than as a shareholder of the Trust); and
    (viii)&#160;include a representation that the Shareholder or an
    authorized representative thereof intends to appear in person at
    the meeting to act on the matter(s) proposed. With respect to
    the nomination of an individual for election or reelection as a
    Trustee pursuant to Section&#160;2.6(b)(1)(iii), the Trust may
    require the proposed nominee to furnish such
</TD>
</TR>

</TABLE>

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    <BR>
    H-5
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    other information as may reasonably be required by the Trust to
    determine the eligibility of such proposed nominee to serve an
    in independent Trustee of the Trust or that could be material to
    a reasonable shareholder&#146;s understanding of the
    independence, or lack thereof, of such nominee. If a nominee
    fails to provide such written information within five Business
    Days, the information requested may be deemed by the Board of
    Trustees not to have been provided in accordance with this
    Section&#160;2.6.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (3)&#160;
</TD>
    <TD align="left">
    Notwithstanding anything in the second sentence of subsection
    (b)(2) of this Section&#160;2.6 to the contrary, in the event
    the Board of Trustees increases the number of Trustees and there
    is no public announcement by the Trust naming all of the
    nominees for Trustee or specifying the size of the increased
    Board of Trustees at least 100&#160;days prior to the first
    anniversary of the preceding year&#146;s annual meeting, a
    Shareholder Notice required by this Section&#160;2.6(b) shall
    also be considered timely, but only with respect to nominees for
    any new positions created by such increase, if it shall be
    delivered to the Secretary at the principal executive office of
    the Trust not later than 5:00&#160;p.m., Eastern Time, on the
    tenth day following the day on which such public announcement is
    first made by the Trust.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (4)&#160;
</TD>
    <TD align="left">
    For purposes of this Section&#160;2.6, &#147;Shareholder
    Associated Person&#148; of any Shareholder shall mean
    (i)&#160;any Person controlling, directly or indirectly, or
    acting in concert with, such Shareholder, including any
    beneficial owner of the Trust&#146;s securities on whose behalf
    a nomination or proposal is made, (ii)&#160;any beneficial owner
    of shares of beneficial interest of the Trust owned of record or
    beneficially by such Shareholder and (iii)&#160;any Person
    controlling, controlled by or under common control with such
    Shareholder Associated Person. For purposes of the definition of
    Shareholder Associated Person, the term &#147;control&#148;
    (including the terms &#147;controlling,&#148; &#147;controlled
    by&#148; and &#147;under common control with&#148;) has the same
    meaning as in
    <FONT style="white-space: nowrap">Rule&#160;12b-2</FONT>
    under the 1934&#160;Act.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="5%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (c)&#160;
</TD>
    <TD align="left">
    <U>Special Meetings of Shareholders</U>. Only such business
    shall be conducted at a special meeting of shareholders as shall
    have been brought before the meeting pursuant to the notice of
    meeting given by the Secretary or Trustees pursuant to
    Section&#160;2.3 of these By-laws. Nominations of individuals
    for election to the Board of Trustees may be made at a special
    meeting of shareholders at which Trustees are to be elected
    (i)&#160;pursuant to the Trust&#146;s notice
</TD>
</TR>

</TABLE>

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    <BR>
    H-6
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="5%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    of meeting given pursuant to Section&#160;2.3 of these By-laws,
    (ii)&#160;by or at the direction of the Board of Trustees or
    (iii)&#160;provided that the Board of Trustees has determined
    that Trustees shall be elected at such special meeting, by any
    Shareholder if such Shareholder (A)&#160;can demonstrate to the
    Trust record ownership of shares of beneficial interest in the
    Trust both as of the time the Shareholder Notice was delivered
    to the Secretary as provided in Section&#160;2.6(b)(2) of these
    By-laws and at the time of the special meeting, (B)&#160;is
    entitled to vote the applicable shares at the special meeting
    and (C)&#160;has complied with the procedures set forth in this
    Section&#160;2.6 as to such nomination. In the event a special
    meeting of shareholders is called for the purpose of electing
    one or more individuals to the Board of Trustees, any
    Shareholder may nominate an individual or individuals (as the
    case may be) for election to such position(s) as specified in
    the Trust&#146;s notice of meeting, if the Shareholder Notice
    required by paragraph (2)&#160;of Section&#160;2.6(b) shall be
    delivered to the Secretary at the principal executive office of
    the Trust not earlier than the 120th&#160;day prior to such
    special meeting and not later than 5:00&#160;p.m., Eastern Time,
    on the 90th&#160;day prior to such special meeting or, if the
    first public announcement of the date of such special meeting is
    less than 100&#160;days prior to the date of such special
    meeting, the tenth day following the day on which public
    announcement is first made of the date of the special meeting of
    shareholders and of the nominees proposed by the Board of
    Trustees to be elected at such meeting. In no event shall any
    postponement or adjournment of a special meeting of
    shareholders, or the public announcement thereof, commence a new
    time period (or extend any time period) for the giving of a
    Shareholder Notice.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="5%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (d)&#160;
</TD>
    <TD align="left">
    <U>General</U>.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (1)&#160;
</TD>
    <TD align="left">
    Upon written request by the Secretary or the Board of Trustees
    or any committee thereof, any Shareholder proposing a nominee
    for election as a Trustee or any proposal for other business at
    a meeting of shareholders shall provide, within five Business
    Days of delivery of such request (or such other period as may be
    specified in such request), written verification, satisfactory,
    in the discretion of the Board of Trustees or any committee
    thereof or any authorized officer of the Trust, to demonstrate
    the accuracy of any information submitted by the Shareholder
    pursuant to this Section&#160;2.6. If a Shareholder fails to
    provide such written verification within such period, the
    information as to which written verification was requested may
    be deemed by the Board of Trustees not to have been provided in
    accordance with this Section&#160;2.6. Notwithstanding anything
    herein to the
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    H-7
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    contrary, the Trust shall have no obligation to inform a
    Shareholder of any defects with respect to the timing or
    substance of a Shareholder Notice or give such Shareholder an
    opportunity to cure any defects.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="12%"></TD>
    <TD width="6%"></TD>
    <TD width="82%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (2)&#160;
</TD>
    <TD align="left">
    Only such individuals who are nominated in accordance with the
    procedures set forth in this Section&#160;2.6 shall be eligible
    for election by shareholders as Trustees, and only such business
    shall be conducted at a meeting of shareholders as shall have
    been brought before the meeting in accordance with the
    procedures set forth in these By-laws. Except as otherwise
    provided by law, the Declaration or these By-laws, the chairman
    presiding over the meeting of shareholders shall have the power
    to determine whether a nomination or any other business proposed
    to be brought before the meeting was made or proposed, as the
    case may be, in accordance with the Declaration and these
    By-laws and, if any proposed nomination or business is not in
    compliance with the procedures set forth in the Declaration or
    these By-laws, to declare that such defective proposal or
    nomination shall be disregarded. Any determination by the
    chairman presiding over a meeting of shareholders shall be
    binding on all parties.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (3)&#160;
</TD>
    <TD align="left">
    For purposes of this Section&#160;2.6, &#147;public
    announcement&#148; shall mean disclosure (i)&#160;in a press
    release reported by the Dow Jones News Service, Associated
    Press, Business Wire, PR Newswire or comparable news service,
    (ii)&#160;in a document publicly filed by the Trust with the
    Securities and Exchange Commission pursuant to the 1934&#160;Act
    or the 1940 Act and the rules and regulations promulgated
    thereunder or (iii)&#160;on a Web site accessible to the public
    maintained by the Trust or by its investment adviser or an
    affiliate of such investment adviser with respect to the Trust.
</TD>
</TR>

<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (4)&#160;
</TD>
    <TD align="left">
    Notwithstanding the foregoing provisions of this
    Section&#160;2.6, a Shareholder shall also comply with all
    applicable law, including, without limitation, requirements of
    state law and of the 1934&#160;Act and the rules and regulations
    promulgated thereunder, with respect to the matters set forth in
    this Section&#160;2.6. Nothing in this Section&#160;2.6 shall be
    deemed to affect any right of the holders of any series of the
    Trust&#146;s preferred shares of beneficial interest (if any) if
    and to the extent provided under law, the Declaration of Trust
    or these By-laws.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="5%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>    (e)&#160;
</TD>
    <TD align="left">
    <U>Submission of Questionnaire, Representation and
    Agreement</U>. To be eligible to be a Shareholder nominee for
    election as a Trustee of
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    H-8
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="6%"></TD>
    <TD width="5%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>&nbsp;</TD>
    <TD>
</TD>
    <TD align="left">
    the Trust, the proposed nominee must deliver (in accordance with
    the time periods prescribed for delivery of a Shareholder
    Notice) to the Secretary of the Trust at the principal executive
    office of the Trust a written questionnaire with respect to the
    background and qualification of such person (which questionnaire
    shall be provided by the Secretary of the Trust upon written
    request) and a written representation and agreement that such
    person (a)&#160;is not and will not become a party to
    (1)&#160;any agreement, arrangement or understanding with, and
    has not given any commitment or assurance to, any Person as to
    how such person, if elected as a Trustee of the Trust, will act
    or vote on any issue or question (a &#147;Voting
    Commitment&#148;) that has not been disclosed to the Trust or
    (2)&#160;any Voting Commitment that could limit or interfere
    with such person&#146;s ability to comply, if elected as a
    Trustee of the Trust, with such person&#146;s fiduciary duties
    under applicable law, (b)&#160;is not and will not become a
    party to any agreement, arrangement or understanding with any
    Person other than the Trust with respect to any direct or
    indirect compensation, reimbursement or indemnification in
    connection with service or action as a Trustee that has not been
    disclosed therein and (c)&#160;in such person&#146;s individual
    capacity, would be in compliance, if elected as a Trustee of the
    Trust, and will comply with all applicable publicly disclosed
    trust governance, conflict of interest, confidentiality and
    share ownership and trading policies and guidelines of the Trust.
</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    H-9
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 11pt; margin-top: 300pt">TO VOTE BY MAIL, PLEASE DETACH PROXY CARD HERE
</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px DASHED #000000; font-size: 1px">&nbsp;</DIV></DIV>



<DIV align="center" style="font-size: 11pt; margin-top: 10pt"><B>DWS MUNICIPAL INCOME TRUST &#150; COMMON SHARES</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 10pt"><B>JOINT ANNUAL MEETING OF SHAREHOLDERS<BR>
TO BE HELD MAY 28, 2009</B>
</DIV>

<DIV style="position: relative; float: left; width: 10%">

<DIV align="center" style="font-size: 14pt; margin-top: 6pt; line-height: 20pt"><b>P<BR>
R<BR>
O<BR>
X<BR>
Y</b>
</DIV>
</DIV>
<DIV style="position: relative; float: right; width: 88%">
<DIV align="left" style="font-size: 11pt; margin-top: 10pt; margin-right: 2%">
The undersigned hereby appoints John Millette, Christopher Jackson and Rita Rubin, and
each of them, the proxies of the undersigned, with full power of substitution to each of
them, to vote all shares of the above-referenced fund (the &#147;Fund&#148;) which the undersigned
is entitled to vote at the Joint Annual Meeting of Shareholders of the Fund to be held at
the New York Marriott East Side, 525 Lexington Avenue, New York, New York 10017
on May 28, 2009, at 1:30 p.m., Eastern time, and at any adjournments thereof.
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 10pt; margin-right: 2%"><B>ALL PROPERLY EXECUTED
PROXIES WILL BE VOTED AS DIRECTED.  IF NO INSTRUCTIONS ARE INDICATED ON A PROPERLY EXECUTED PROXY, THE PROXY
WILL BE VOTED <u>FOR</u> THE ELECTION OF ALL BOARD MEMBER NOMINEES.</B>
</DIV>



</DIV>
<BR clear="all"><BR style="font-size: 6pt">
<DIV align="center" style="font-size: 11pt; margin-top: 6pt"><B>(CONTINUED, AND TO BE SIGNED, ON THE REVERSE SIDE.)</B>
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 11pt; margin-top: 10pt"><B>THE FUND OFFERS SHAREHOLDERS OF RECORD<BR>
THREE WAYS TO SUBMIT YOUR PROXY</B>
</DIV>

<DIV style="position: relative; float: left; width: 32%">

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>TELEPHONE PROXY</B>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: 1%">

This method of
submitting a proxy
is available for
residents of the
U.S., Puerto Rico
and Canada. On a
touch tone
telephone, call <B><I>TOLL
FREE 1-877-381-4019</I></B>,
24 hours a day, 7
days a week. Have
this proxy card
ready, then follow
the prerecorded
instructions. Your
vote will be
confirmed and cast
as you have
directed. Available
24 hours a day, 7
days a week until
5:00 p.m. Eastern
Time on May&nbsp;28,
2009.
</DIV>

</DIV>
<DIV style="position: relative; float: left; margin-left: 2%; width: 33%">

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>INTERNET PROXY</B>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt">Visit the Internet voting
Web site at
<B>http://proxy.georgeson.com.</B>
Have this proxy card ready
and follow the instructions
on your screen. You will
incur only your usual
Internet charges.
Available 24 hours a day, 7
days a week until 5:00 p.m.
Eastern Time on May&nbsp;28,
2009.
</DIV>

</DIV>
<DIV style="position: relative; float: right; width: 30%">

<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>PROXY BY MAIL</B>
</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-right: 3%">Simply sign and date
your proxy card and
return it in the
postage-paid envelope
to Georgeson Inc.,
Wall Street Station,
P.O. Box 1102, New
York, NY 10269-0646.
If you are submitting
your proxy by
telephone or the
Internet, please do
not mail your proxy
card.
</DIV>

</DIV>
<BR clear="all"><BR>

<DIV align="right" style="font-size: 10pt; margin-top: 50pt; margin-right: 1%"><DIV style="border: 1px solid #000000; width: 30%; padding: 11px">&nbsp;</DIV>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 10pt">TO VOTE BY MAIL, PLEASE DETACH PROXY CARD HERE
</DIV>

<DIV align="center" style="font-size: 10pt; margin-left: 1%; margin-right: 1%"><DIV style="width: 100%; border-bottom: 1px dashed #000000; font-size: 1px">&nbsp;</DIV></DIV>


<DIV align="center">
<TABLE style="font-size: 6pt" cellspacing="0" border="0" cellpadding="2" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="middle" align="center" style="border: 2px solid #000000"><DIV style="margin-left:0px; text-indent:-0px"><font style=" font-size: 20pt"><B>X</B></font>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Please mark<BR>
votes as in<BR>
this example</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<div style="margin-left: 1%; margin-right: 1%">
<P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">

<DIV align="center" style="font-size: 8pt; margin-top: 0pt"><B>THE PROXY IS SOLICITED ON BEHALF OF THE BOARD OF THE FUND.<BR>
THE BOARD RECOMMENDS A VOTE <u>FOR</u> THE ELECTION OF ALL BOARD MEMBER NOMINEES.</B>
</DIV>
</DIV>

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="98%">
<!-- Begin Table Head -->
<TR style="font-size: 3pt">

    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="16%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Election of Board Members:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><div style="margin-left:20%">Class&nbsp;I</div></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(01) Dawn-Marie Driscoll
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><font style="font-size: 7pt"><B>FOR </B>all nominees</font>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><font style="font-size: 7pt"><B>WITHHOLD</B></font></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(02) Keith R. Fox
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><font style="font-size: 7pt">listed (except as noted</font>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><font style="font-size: 7pt">authority to vote</font></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(03) Richard J. Herring
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><font style="font-size: 7pt">on the line below)</font>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><font style="font-size: 7pt">for all nominees</font></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" rowspan="2">(04) William N. Searcy, Jr.
</TD>
    <TD>&nbsp;</TD>

<TD align="center" valign="top" rowspan="2"><FONT face="Wingdings"><font style=" font-size: 26pt">&#111;</font></FONT>
</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="top" rowspan="2"><FONT face="Wingdings"><font style=" font-size: 26pt">&#111;</font></FONT>
</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>

</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 6pt"><DIV style="width: 49.6%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
<B>(Instruction: To withhold authority to vote for any individual nominee(s),<BR>
write the name(s) of the nominee(s) on the line above.)</B>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 12pt"><B>IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE SHAREHOLDER MEETING TO BE
HELD ON MAY 28, 2009:</B>
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 12pt"><B>The Notice of Joint Annual Meeting of Shareholders, Proxy Statement and Proxy Card are available at<br>
https://www.envisionreports.com/dws</B>
</DIV>



 </div>
<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="justify" style="font-size: 8pt; margin-top: 6pt; margin-left: 50%; margin-right: 3%"><B>PLEASE SIGN, DATE, AND RETURN PROMPTLY IN
ENCLOSED ENVELOPE IF YOU ARE NOT VOTING BY PHONE OR INTERNET
</B>

</DIV>
<DIV align="RIGHT" style="margin-right: 3%">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="47%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 3px">    <TD width="1%"></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">Date&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>, 2009</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>

    <TD colspan="2" align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" colspan="3"><DIV style="margin-left:0px; text-indent:-0px">Signature</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="left">Signature (if held jointly)</TD>
</TR>
<TR valign="bottom" style="font-size: 3px"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD colspan="5" valign="top" align="left"><DIV style="text-align: justify">NOTE: PLEASE SIGN EXACTLY AS YOUR NAME OR NAMES APPEAR. WHEN SIGNING AS AN
ATTORNEY, EXECUTOR, ADMINISTRATOR, TRUSTEE OR GUARDIAN, PLEASE GIVE YOUR FULL
TITLE AS SUCH.</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 11pt; margin-top: 300pt">TO VOTE BY MAIL, PLEASE DETACH PROXY CARD HERE
</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px DASHED #000000; font-size: 1px">&nbsp;</DIV></DIV>



<DIV align="center" style="font-size: 11pt; margin-top: 10pt"><B>DWS MUNICIPAL INCOME TRUST &#150; PREFERRED SHARES</B>
</DIV>


<DIV align="center" style="font-size: 11pt; margin-top: 10pt"><B>JOINT ANNUAL MEETING OF SHAREHOLDERS<BR>
TO BE HELD MAY 28, 2009</B>
</DIV>

<DIV style="position: relative; float: left; width: 10%">

<DIV align="center" style="font-size: 14pt; margin-top: 6pt; line-height: 20pt"><b>P<BR>
R<BR>
O<BR>
X<BR>
Y</b>
</DIV>
</DIV>
<DIV style="position: relative; float: right; width: 88%">
<DIV align="left" style="font-size: 11pt; margin-top: 10pt; margin-right: 2%">The undersigned hereby appoints John
Millette, Christopher Jackson and Rita Rubin, and each of them, the proxies of the undersigned, with full power of
substitution to each of them, to vote all shares of the above-referenced fund (the &#147;Fund&#148;) which the undersigned is entitled
to vote at the Joint Annual Meeting of Shareholders of the Fund to be held at the New York Marriott East Side, 525 Lexington
Avenue, New York, New York 10017 on May 28, 2009, at 1:30 p.m., Eastern time, and at any adjournments thereof.
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 10pt; margin-right: 2%"><B>ALL PROPERLY EXECUTED PROXIES WILL BE
VOTED AS DIRECTED.  IF NO INSTRUCTIONS ARE INDICATED ON A PROPERLY EXECUTED PROXY, THE PROXY WILL BE VOTED <u>FOR</u> THE
ELECTION OF ALL BOARD MEMBER NOMINEES.</B>
</DIV>


</DIV>
<BR clear="all"><BR style="font-size: 6pt">

<DIV align="center" style="font-size: 11pt; margin-top: 6pt"><B>(CONTINUED, AND TO BE SIGNED, ON THE REVERSE SIDE.)</B>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>



<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 11pt; margin-top: 300pt">
</div>
<DIV align="center" style="font-size: 11pt; margin-top: 10pt">TO VOTE BY MAIL, PLEASE DETACH PROXY CARD HERE
</DIV>

<DIV align="center" style="font-size: 10pt; margin-left: 1%; margin-right: 1%"><DIV style="width: 100%; border-bottom: 1px dashed #000000; font-size: 1px">&nbsp;</DIV></DIV>


<DIV align="center">
<TABLE style="font-size: 6pt" cellspacing="0" border="0" cellpadding="2" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="middle" align="center" style="border: 2px solid #000000"><DIV style="margin-left:0px; text-indent:-0px"><font
style=" font-size: 20pt"><B>X</B></font>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Please mark<BR>
votes as in<BR>
this example</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<div style="margin-left: 1%; margin-right: 1%">
<P>
<DIV style="width: 100%; border: 1px solid black; padding: 5px;">

<DIV align="center" style="font-size: 8pt; margin-top: 0pt"><B>THE PROXY IS SOLICITED ON BEHALF OF THE BOARD OF THE FUND.<BR>
THE BOARD RECOMMENDS A VOTE <u>FOR</u> THE ELECTION OF ALL BOARD MEMBER NOMINEES.</B>
</DIV>
</DIV>

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="98%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="16%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">1.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Election of Board Members:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Class I</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><div style="margin-left:20%">Preferred</div></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(01) Dawn-Marie Driscoll</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(05) Robert H. Wadsworth
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><font style="font-size: 7pt"><B>FOR </B>all nominees</font>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><font style="font-size: 7pt"><B>WITHHOLD</B></font></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(02) Keith R. Fox</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(06) Axel Schwarzer
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><font style="font-size: 7pt">listed (except as noted</font>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><font style="font-size: 7pt">authority to vote</font></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(03) Richard J. Herring</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><font style="font-size: 7pt">on the line below)</font>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><font style="font-size: 7pt">for all nominees</font></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">(04) William N. Searcy, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" rowspan="2">
</TD>
    <TD>&nbsp;</TD>

<TD align="center" valign="top" rowspan="2"><FONT face="Wingdings"><font style=" font-size: 26pt">&#111;</font></FONT>
</TD>
    <TD>&nbsp;</TD>
<TD align="center" valign="top" rowspan="2"><FONT face="Wingdings"><font style=" font-size: 26pt">&#111;</font></FONT>
</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>

</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 10pt"><DIV style="width: 49.6%; border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
<B>(Instruction: To withhold authority to vote for any individual nominee(s),<BR>
write the name(s) of the nominee(s) on the line above.)</B>
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 12pt"><B>IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS
FOR THE SHAREHOLDER MEETING TO BE
HELD ON MAY 28, 2009:</B>
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 12pt"><B>The Notice of Joint Annual Meeting of Shareholders, Proxy
Statement and Proxy Card are available at<br>
https://www.envisionreports.com/dws</B>
</DIV>



 </div>
<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="justify" style="font-size: 8pt; margin-top: 6pt; margin-left: 50%; margin-right: 3%"><B>PLEASE SIGN, DATE, AND
RETURN PROMPTLY IN ENCLOSED ENVELOPE.
</B>

</DIV>
<DIV align="RIGHT" style="margin-right: 3%">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="47%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 3px">    <TD width="1%"></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">Date&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>,&nbsp;2009</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>

    <TD colspan="2" align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" colspan="3"><DIV style="margin-left:0px; text-indent:-0px">Signature</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD colspan="5" valign="top" align="left">Signature (if held jointly)</TD>
</TR>
<TR valign="bottom" style="font-size: 3px"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD colspan="5" valign="top" align="left"><DIV style="text-align: justify">NOTE: PLEASE SIGN EXACTLY AS YOUR NAME OR
NAMES APPEAR. WHEN SIGNING AS AN
ATTORNEY, EXECUTOR, ADMINISTRATOR, TRUSTEE OR GUARDIAN, PLEASE GIVE YOUR FULL
TITLE AS SUCH.</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>



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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
