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<SEC-DOCUMENT>0000950123-10-035538.txt : 20100416
<SEC-HEADER>0000950123-10-035538.hdr.sgml : 20100416
<ACCEPTANCE-DATETIME>20100416151619
ACCESSION NUMBER:		0000950123-10-035538
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20100524
FILED AS OF DATE:		20100416
DATE AS OF CHANGE:		20100416
EFFECTIVENESS DATE:		20100416

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:		10754581

	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>y83861edef14a.htm
<DESCRIPTION>DEF 14A
<TEXT>
<HTML>
<HEAD>
<TITLE>def14a</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="width: 78%; margin-left: 11%"><!-- BEGIN PAGE WIDTH -->
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<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>UNITED STATES<BR>
    SECURITIES AND EXCHANGE COMMISSION<BR>
    Washington,&#160;D.C. 20549</B>
</DIV>

<DIV style="margin-top: 3pt; 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>SCHEDULE&#160;14A</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><FONT style="white-space: nowrap">(Rule&#160;14a-101)</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; 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>INFORMATION REQUIRED IN PROXY STATEMENT</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>SCHEDULE&#160;14A INFORMATION</B>
</DIV>

<DIV style="margin-top: 3pt; 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>Proxy Statement Pursuant to Section&#160;14(a) of the
    Securities</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>Exchange Act of 1934 (Amendment
    No.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;)</B>
</DIV>

<DIV style="margin-top: 2pt; 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">
    Filed by Registrant
    <FONT style="font-family: Wingdings; font-variant: normal">&#254;</FONT>&#160;&#160;Filed
    by a Party other than the
    Registrant&#160;<FONT style="font-family: Wingdings; font-variant: normal">&#111;
    </FONT>
</DIV>

<DIV style="margin-top: 2pt; 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">
    Check the appropriate box:
</DIV>

<DIV style="margin-top: 2pt; 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">
    <FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>&#160;&#160;Preliminary
    Proxy Statement
</DIV>

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

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

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>&#160;&#160;</TD>
    <TD align="left">
    Confidential, for Use of the Commission Only (as permitted by
    <FONT style="white-space: nowrap">Rule&#160;14a-6(e)(2))</FONT>
</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">
    <FONT style="font-family: Wingdings; font-variant: normal">&#254;</FONT>&#160;&#160;Definitive
    Proxy Statement
</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">
    <FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>&#160;&#160;Definitive
    Additional Materials
</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">
    <FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>&#160;&#160;Soliciting
    Material Pursuant to &#167;240.14a-12
</DIV>

<DIV style="margin-top: 2pt; 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>DWS MUNICIPAL INCOME TRUST</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">

</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></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><FONT style="font-size: 8pt">(Name of Registrant as Specified
    in Its Charter)</FONT></B>
</DIV>

<DIV style="margin-top: 2pt; 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>Payment of Filing Fee (Check the appropriate box):</B>
</DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

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

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

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <B><FONT style="font-family: Wingdings; font-variant: normal">&#254;</FONT>&#160;&#160;</B>
</TD>
    <TD align="left">    <B>No fee required.</B>
</TD>
</TR>


<TR style="line-height: 2pt; 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>    <B><FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>&#160;&#160;</B>
</TD>
    <TD align="left">    <B>Fee computed on table below per Exchange Act
    <FONT style="white-space: nowrap">Rules&#160;14a-6(i)(4)</FONT>
    and 0-11.</B>
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

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

<TR>
    <TD width="5%"></TD>
    <TD width="6%"></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>(1)&#160;&#160;</B>
</TD>
    <TD align="left">
    <B>Title of each class of securities to which transaction
    applies:</B>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 8pt; margin-left: 11%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

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

<TR>
    <TD width="5%"></TD>
    <TD width="6%"></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>(2)&#160;&#160;</B>
</TD>
    <TD align="left">
    <B>Aggregate number of securities to which transaction
    applies:</B>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 8pt; margin-left: 11%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

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

<TR>
    <TD width="5%"></TD>
    <TD width="6%"></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>(3)&#160;&#160;</B>
</TD>
    <TD align="left">
    <B>Per unit price or other underlying value of transaction
    computed pursuant to Exchange Act
    <FONT style="white-space: nowrap">Rule&#160;0-11</FONT>
    (set forth the amount on which the filing fee is calculated and
    state how it was determined):</B>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 8pt; margin-left: 11%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

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

<TR>
    <TD width="5%"></TD>
    <TD width="6%"></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>(4)&#160;&#160;</B>
</TD>
    <TD align="left">
    <B>Proposed maximum aggregate value of transaction:</B>
</TD>
</TR>

</TABLE>

<DIV style="font-size: 8pt; margin-left: 11%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

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

<TR>
    <TD width="5%"></TD>
    <TD width="6%"></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>    (5)&#160;&#160;
</TD>
    <TD align="left">
    Total fee paid:
</TD>
</TR>

</TABLE>

<CENTER style="font-size: 1pt; width: 100%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

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

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

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>&#160;&#160;
</TD>
    <TD align="left">    Fee paid previously with preliminary materials.
</TD>
</TR>


<TR style="line-height: 2pt; 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>    <FONT style="font-family: Wingdings; font-variant: normal">&#111;</FONT>&#160;&#160;
</TD>
    <TD align="left">    Check box if any part of the fee is offset as provided by
    Exchange Act
    <FONT style="white-space: nowrap">Rule&#160;0-11(a)(2)</FONT>
    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 style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

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

<TR>
    <TD width="5%"></TD>
    <TD width="6%"></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>    (1)&#160;&#160;
</TD>
    <TD align="left">
    Amount Previously Paid:
</TD>
</TR>

</TABLE>

<DIV style="font-size: 8pt; margin-left: 11%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

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

<TR>
    <TD width="5%"></TD>
    <TD width="6%"></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>    (2)&#160;&#160;
</TD>
    <TD align="left">
    Form, Schedule or Registration Statement No.:
</TD>
</TR>

</TABLE>

<DIV style="font-size: 8pt; margin-left: 11%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

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

<TR>
    <TD width="5%"></TD>
    <TD width="6%"></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>    (3)&#160;&#160;
</TD>
    <TD align="left">
    Filing Party:
</TD>
</TR>

</TABLE>

<DIV style="font-size: 8pt; margin-left: 11%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 2pt; font-size: 1pt">&nbsp;</DIV>

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

<TR>
    <TD width="5%"></TD>
    <TD width="6%"></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>    (4)&#160;&#160;
</TD>
    <TD align="left">
    Date Filed:
</TD>
</TR>

</TABLE>

<DIV style="font-size: 8pt; margin-left: 11%; width: 100%;  align: left; border-bottom: 1pt solid #000000"></DIV>
<!-- XBRL Pagebreak Begin -->

<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: 78%; margin-left: 11%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->
</DIV><!-- END PAGE WIDTH -->
<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->

<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">DWS HIGH
    INCOME TRUST (&#147;KHI&#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: 26%; border-bottom: 1pt solid #000000"></CENTER>

<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;24, 2010</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: 26%; border-bottom: 1pt solid #000000"></CENTER>

<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 KHI,
    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;24, 2010 at 11:00 a.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
    proposals (each a &#147;Proposal&#148; and, collectively, the
    &#147;Proposals&#148;):
</DIV>

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

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

<TR>
    <TD width="21%"></TD>
    <TD width="79%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <B>PROPOSALS:</B>&#160;</TD>
    <TD align="left">
    (I)&#160;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="27%"></TD>
    <TD width="73%"></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;&#160;(A)&#160;</TD>
    <TD align="left">
    For KHI, KMM and KST only, to elect four Board Members to the
    Board of each Fund;
</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="26%"></TD>
    <TD width="74%"></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;&#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;&#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>    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(II)&#160;
</TD>
    <TD align="left">    To transact such other business as may properly come before the
    Meeting or any adjournment or postponements thereof.
</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 persons 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 April&#160;9, 2010 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
    NOMINEE.</B>
</DIV>
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</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 -->
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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 KHI, KMM and KST, to the extent permitted by the Amended and
    Restated Agreement and Declaration of Trust, any meeting of
    shareholders may, by action of the chairman of the meeting, be
    adjourned without further notice with respect to one or more
    matters to be considered at such meeting to a designated time
    and place, whether or not a quorum is present with respect to
    such matter; upon motion of the chairman of the meeting, the
    question of adjournment may be submitted to a vote of the
    shareholders, and in that case, any adjournment with respect to
    one or more matters must be approved by the vote of holders of a
    majority of the shares present and entitled to vote with respect
    to the matter or matters adjourned, and without further notice
    to the extent permitted by the Amended and Restated Agreement
    and Declaration of Trust. Unless a proxy is otherwise limited in
    this regard, any shares present and entitled to vote at a
    meeting that are represented by broker non-votes, may, at the
    discretion of the proxies named therein, be voted in favor of
    such an adjournment.
</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 KTF and KSM, any meeting may be adjourned from time to time
    by a majority of the votes cast upon the question, whether or
    not a quorum is present, and the meeting may be held as
    adjourned without further notice.
</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;19, 2010. 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
</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="y83861emillette.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;16, 2010
</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 prevent 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
    (1-866-821-2570), or contact your financial advisor.</B>
</DIV>
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</DIV><!-- END PAGE WIDTH -->
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->
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<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 -->
<!-- TableOutputHead -->
<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>
<!-- TableOutputBody -->
<TR valign="bottom">
<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">
<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">
<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">
<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">
<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">
<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">
<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">
<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>
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->
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<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&#160;16, 2010
</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 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;24, 2010 at 11:00&#160;a.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 proposals (each a &#147;Proposal&#148; and,
    collectively, the &#147;Proposals&#148;). The principal
    executive address of the Funds is 345 Park Avenue, New York, New
    York 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 Card&#148;), is being mailed to shareholders on
    or about April&#160;19, 2010. 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 of a Fund. The term &#147;Board Member,&#148; as used
    herein, refers to a person who serves as a trustee of a Fund (a
    &#147;Trustee&#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 Proposals 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="21%"></TD>
    <TD width="79%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <TD>    <B>PROPOSALS:</B>&#160;</TD>
    <TD align="left">
    (I)&#160;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="27%"></TD>
    <TD width="73%"></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;&#160;(A)&#160;</TD>
    <TD align="left">
    For KHI, KMM and KST only, to elect four Board Members to the
    Board of each Fund;
</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="26%"></TD>
    <TD width="74%"></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;&#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;&#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>    &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(II)&#160;
</TD>
    <TD align="left">    To transact such other business as may properly come before the
    Meeting or any adjournments or postponements thereof.
</TD>
</TR>

</TABLE>
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->
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<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&#160;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&#160;to elect each Board Member
    Nominee.</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 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 persons named as 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
    345 Park Avenue, New York, New York 10154, 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>
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    <BR>
    2
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<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 KHI, KMM and KST only.</B> Pursuant to each Fund&#146;s
    Amended and Restated Agreement and Declaration of Trust and
    Amended and Restated By-Laws, the Board of each Fund has been
    divided into three (3)&#160;classes with Board Members of each
    class being elected to serve until the third annual meeting
    following their election.
</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, four (4)&#160;Class&#160;II Board Members are to
    be elected by shareholders of a Fund, each to hold office until
    the annual meeting of shareholders in 2013 and until such Board
    Member&#146;s successor is duly elected and qualify or until
    such Board Member sooner dies, resigns, retires or is removed.
    The Class&#160;II Board Member nominees standing for election at
    the Meeting are: Ms.&#160;Jean Gleason Stromberg and
    Messrs.&#160;Henry P. Becton Jr., Paul K. Freeman and William
    McClayton.
</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> Pursuant to the Amended and
    Restated Agreement and Declaration of Trust of each Fund, the
    Board of each Fund has authorized, and each Fund has issued,
    common shares of 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">
    Pursuant to each Fund&#146;s Amended and Restated Agreement and
    Declaration of Trust and Amended and Restated By-Laws, the Board
    of each Fund, with the exception of the two Board Members
    elected by the vote of the Preferred Shares as a separate class,
    has been divided into three (3)&#160;classes with Board Members
    of each class being elected to serve until the third annual
    meeting following their election. In addition, two Board Members
    are elected by the Preferred Shares, voting as a separate class,
    to serve until the next annual meeting.
</DIV>
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    <BR>
    3
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<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;II Board Members are to
    be elected by a Fund&#146;s common shareholders and preferred
    shareholders voting together, each to hold office until the
    annual meeting of shareholders in 2013 and until such Board
    Member&#146;s successor is duly elected and qualify 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 shareholders voting as a separate class,
    each to hold office until the annual meeting of shareholders in
    2011 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;II Board Member
    nominees standing for election at the Meeting are: Ms.&#160;Jean
    Gleason Stromberg and Messrs.&#160;Henry P. Becton Jr., Paul K.
    Freeman and William McClayton. The Preferred Board Member
    nominees standing for election at the Meeting are:
    Messrs.&#160;Ingo Gefeke and Robert H. 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 all Funds.</B> The individuals nominated for election as
    Board Members of each Fund at the Meeting (the &#147;Board
    Member Nominees&#148;), were nominated by each Fund&#146;s
    Board. The Board Member Nominees currently serve as Board
    Members of each Fund, and currently serve as Board Members of
    other DWS funds advised by Deutsche Investment Management
    Americas Inc. (&#147;DIMA&#148; or the &#147;Advisor&#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">
    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 Class&#160;II and Preferred Board Member Nominees has
    consented to being named in the Proxy Statement and has agreed
    to serve as a Board Member of a Fund if elected. However, should
    any Board Member Nominee become unable or unwilling to serve
    prior to the Meeting, the persons named as proxies may vote your
    shares for substitute nominees, if any, recommended by the Board
    of your Fund.
</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">Information
    Concerning the Board&#146;s Nominees</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">
    Information is provided below as of April&#160;1, 2010 for the
    Board Member Nominees for a Fund&#146;s Board. Each of the Board
    Member Nominees currently serves as a Class&#160;II Board Member
    or a Preferred Board Member of a Fund. All of the Class&#160;II
    and Preferred Board Member Nominees, except Mr.&#160;Ingo
    Gefeke, would be &#147;non-interested&#148; Board Members, as
    that term is used in the Investment Company Act of 1940
    (&#147;Independent Board Members&#148;). Mr.&#160;Ingo Gefeke is
    an &#147;interested&#148; Board Member by virtue of his
    positions with Deutsche Asset Management (&#147;DeAM&#148;).
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    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 -->
<!-- XBRL Pagebreak End -->

<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>Class&#160;II&#151;&#160;Board Members/Nominees to serve
    until 2013 Annual Meeting of Shareholders:</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 -->
<!-- TableOutputHead -->
<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<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

    and<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>Length of Time <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</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>Served<SUP style="font-size: 85%; vertical-align: top">(2)</SUP></B>

</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Henry P. Becton, Jr.&#160;</B> (1943)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Vice Chair and former President, WGBH Educational Foundation;
    Directorships: Association of Public Television Stations; Lead
    Director, Becton Dickinson and Company (medical technology
    company); Lead Director, Belo Corporation (media company);
    Public Radio International; Public Radio Exchange (PRX); The PBS
    Foundation; former Directorships: Boston Museum of Science;
    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.
</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, education 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 1993; and Chairperson <BR>
    since 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">
    Private equity investor (since October 2009); previously:
    Managing Director, Diamond Management &#038; Technology
    Consultants, Inc. (global consulting firm) (2001-2009);
    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.
</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>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    5
</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 -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<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 -->
<!-- TableOutputHead -->
<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<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

    and<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> Length of Time <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</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>Served<SUP style="font-size: 85%; vertical-align: top">(2)</SUP></B>

</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<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, Financial
    Markets, 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 1994-1996)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since 1997.
</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">
    <B>Preferred&#160;&#151; Board Members/Nominees to serve until
    2011 Annual <BR>
    Meeting of Shareholders (for KTF and KSM only):</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 -->
<!-- TableOutputHead -->
<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<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

    and<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>Length of Time <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</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>Served<SUP style="font-size: 85%; vertical-align: top">(2)</SUP></B>

</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<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 1999.
</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>Ingo
    Gefeke<SUP style="font-size: 85%; vertical-align: top">(3)</SUP>

    <BR>
    </B>(1967)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Managing Director, Deutsche Asset Management; Global Head of
    Distribution and Product Management, DWS Global Head of Trading
    and Securities Lending. Member of the Board of Directors of DWS
    Investment GmbH Frankfurt (since July 2009) and DWS Holding
    &#038; Service GmbH Frankfurt (since January 2010); formerly:
    Global Chief Administrative Officer, Deutsche Asset Management
    (2004-2009); Global Chief Operating Officer, Global Transaction
    Banking, Deutsche Bank AG, New York (2001-2004); Chief Operating
    Officer, Global Banking Division Americas, Deutsche Bank AG, New
    York (1999-2001); Central Management, Global Banking Services,
    Deutsche Bank AG, Frankfurt (1998-1999); Relationship
    Management, Deutsche Bank AG, Tokyo, Japan (1997-1998)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since 2010.
</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>
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    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 -->
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<DIV style="font-size: 1pt; margin-left: 0%; width: 19%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<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">Each Class&#160;II Board Member
    currently oversees 126 funds in the DWS funds complex.
    Mr.&#160;Wadsworth currently oversees 129 funds in the DWS funds
    complex. Mr.&#160;Gefeke currently oversees 58 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">(2)</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>


<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">As a result of his respective
    positions held with the Advisor, Mr.&#160;Gefeke is considered
    an &#147;interested person&#148; of the Fund within the meaning
    of the 1940 Act.
    </FONT></TD>
</TR>

</TABLE>

<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">Information
    Concerning Continuing 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">
    As noted above, the Board for each Fund is divided into three
    classes. The terms of Class&#160;I and Class&#160;III Board
    Members do not expire this year. Information is provided below
    as of April&#160;1, 2010 for Board Members in such classes. All
    of the continuing Board Members, except for Mr.&#160;Ingo
    Gefeke, 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>Class&#160;I&#160;&#151; Continuing Board Members to serve
    until 2012 Annual <BR>
    Meeting of Shareholders:</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 -->
<!-- TableOutputHead -->
<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<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

    and <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>Length of Time<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</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>Served<SUP style="font-size: 85%; vertical-align: top">(2)</SUP></B>

</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<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.
</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 investment funds); Directorships: Progressive Holding
    Corporation (kitchen goods importer and distributor); Box Top
    Media Inc. (advertising); The Kennel Shop (retailer); former
    Chairman, National Association of Small Business Investment
    Companies
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since 1996.
</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>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    7
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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 -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<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 -->
<!-- TableOutputHead -->
<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<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

    and <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>Length of Time<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</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>
    Served<SUP style="font-size: 85%; vertical-align: top">(2)</SUP></B>

</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<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 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.
</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.&#160;</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.
</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<SUP style="font-size: 85%; vertical-align: top">(4)</SUP>

    <BR>
    </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 1999.
</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">
    <B>Class&#160;III&#160;&#151; Continuing Board Members to serve
    until 2011 Annual Meeting of Shareholders:</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 -->
<!-- TableOutputHead -->
<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<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

    and<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>Length of Time <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</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>Served<SUP style="font-size: 85%; vertical-align: top">(2)</SUP></B>

</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<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; Prisma Energy International
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since 1999.
</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>
<!-- XBRL Pagebreak Begin -->

<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 -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<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 -->
<!-- TableOutputHead -->
<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<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

    and<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>Length of Time <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</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>Served<SUP style="font-size: 85%; vertical-align: top">(2)</SUP></B>

</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Kenneth C. Froewiss </B>(1945)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Adjunct Professor of Finance, NYU Stern School of Business
    (September&#160;2009-present; Clinical Professor from
    1997-September 2009); 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.
</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); Director, CardioNet, Inc.
    (2009-present) (health care); 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
    <FONT style="white-space: nowrap">(January&#160;2007-June&#160;2007)</FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since 1995.
</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>Ingo
    Gefeke<SUP style="font-size: 85%; vertical-align: top">(3)(4)</SUP>

    </B>(1967)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Managing Director, Deutsche Asset Management; Global Head of
    Distribution and Product Management, DWS Global Head of Trading
    and Securities Lending. Member of the Board of Directors of DWS
    Investment GmbH Frankfurt (since July 2009) and DWS Holding
    &#038; Service GmbH Frankfurt (since January 2010); formerly:
    Global Chief Administrative Officer Deutsche Asset Management
    (2004-2009); Global Chief Operating Officer, Global Transaction
    Banking, Deutsche Bank AG, New York (2001-2004); Chief Operating
    Officer, Global Banking Division Americas, Deutsche Bank AG, New
    York (1999-2001); Central Management, Global Banking Services,
    Deutsche Bank AG, Frankfurt (1998-1999); Relationship
    Management, Deutsche Bank AG, Tokyo, Japan (1997-1998)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Board Member since 2010.
</TD>
</TR>
</TABLE>

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</DIV>
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    9
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<DIV style="font-size: 1pt; margin-left: 0%; width: 19%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<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">Each Class&#160;I and
    Class&#160;III Board Member, except Mr.&#160;Gefeke and
    Mr.&#160;Wadsworth, currently oversees 126 funds in the DWS
    funds complex. Mr.&#160;Wadsworth currently oversees 129 funds
    in the DWS funds complex. Mr.&#160;Gefeke currently oversees 58
    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">(2)</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>


<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">As a result of his respective
    positions held with the Advisor, Mr.&#160;Gefeke is considered
    an &#147;interested person&#148; of the Fund within the meaning
    of the 1940 Act.
    </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">Mr.&#160;Wadsworth and
    Mr.&#160;Gefeke serve as Class&#160;I and&#160;III Board
    Members, respectively, for KHI, KMM and KST only.
    </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">
    Unless otherwise noted, each Board Member has engaged in the
    principal occupation(s) noted in the tables above for at least
    the most recent five years, although not necessarily in the same
    capacity. The mailing address of each Independent Board Member
    is
    <FONT style="white-space: nowrap">c/o&#160;Paul</FONT>
    K. Freeman, Independent Chairman, DWS Funds,
    P.O.&#160;Box&#160;101833, Denver, CO
    <FONT style="white-space: nowrap">80250-1833.</FONT>
    The mailing address of Mr.&#160;Gefeke is 345 Park Avenue, New
    York, New York 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">
    As reported to the Funds, Exhibit&#160;A to this Proxy Statement
    sets forth the dollar range of equity securities and number of
    shares beneficially owned by each Board Member in each Fund as
    of March&#160;31, 2010. Exhibit&#160;A also sets forth the
    aggregate dollar range of equity securities beneficially owned
    by each Board Member in all DWS funds overseen by the Board
    Member as of March&#160;31, 2010.
</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
</DIV>
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    <BR>
    10
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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">
    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 Independent Board Member by each Fund for its most
    recently completed fiscal year and to each Independent Board
    Member by the DWS funds complex for the calendar year ended
    December&#160;31, 2009.
</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 is an interested Board Member, and twelve
    individuals who are Independent Board Members. SEC 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.
    An Independent Board Member, Dr.&#160;Freeman has served as
    Chairperson of the Board of each Fund since January&#160;1,
    2009. He was elected by the other Board Members 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">
    During calendar year 2009, the Boards of each Fund met eight
    (8)&#160;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 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">
    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 Paul K. Freeman,
    Independent Chairman, DWS Funds, P.O.&#160;Box&#160;101833,
    Denver, CO
    <FONT style="white-space: nowrap">80250-1833,</FONT>
    who will forward it to a specific Board Member if addressed to
    that Board Member.
</DIV>
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    <BR>
    11
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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">
    The Board of each Fund has established the following standing
    committees: Audit Committee, Nominating and Governance
    Committee, Contract Committee, Fixed-Income and Quant Oversight
    Committee and Operations 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 2009 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 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, which is
    available at
    <U><FONT style="white-space: nowrap">https://www.dws-investments.com/EN/docs/products/Audit_Committee_Charter.pdf</FONT></U>.
    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 2009,
    the Audit 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">
    For the 2009 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;114 (The Auditor&#146;s Communications With Those
    Charged With Governance). Each Fund&#146;s independent
    registered public accounting firm provided the Fund&#146;s Audit
    Committee the written disclosure required by Public Company
    Accounting Oversight Board Rule&#160;3526 (Communication with
    Audit Committees Concerning Independence), 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;17. 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
</DIV>
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    <BR>
    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">
    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 2009 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)<BR>
    Kenneth C. Froewiss (Vice Chair)<BR>
    Henry P. Becton, Jr.<BR>
    Keith R. Fox<BR>
    Richard J. Herring<BR>
    William N. Searcy, Jr.
</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>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 U.S.&#160;mail
    or courier service to Paul K. Freeman, Independent Chairman, DWS
    Funds, P.O.&#160;Box&#160;101833, Denver, CO
    <FONT style="white-space: nowrap">80250-1833.</FONT>
    Each Fund&#146;s Nominating and Governance Committee is governed
    by the Nominating and Governance Committee Charter, which is
    available at
    <U><FONT style="white-space: nowrap">https://www.dws-investments.com/EN/docs/products/Nominating_and_Governance_Committee.</FONT></U>pdf.
    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 2009,
    the Nominating and Governance 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>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), John W.
    Ballantine,
    <FONT style="white-space: nowrap">Dawn-Marie</FONT>
    Driscoll and William N. Searcy Jr. During the calendar year
    2009, 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
</DIV>
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    13
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->
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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">
    Stromberg (Vice Chair), Dawn-Marie Driscoll,
    Kenneth&#160;C.&#160;Froewiss and Robert H. Wadsworth. During
    the calendar year 2009, the Fixed-Income and Quant Oversight
    Committee of each Fund&#146;s Board held
    seven&#160;(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>Operations Committee.</B> The Operations Committee reviews
    the administrative operations 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), Rebecca W. Rimel, Jean Gleason
    Stromberg and Robert H. Wadsworth. The members of the Valuation
    <FONT style="white-space: nowrap">Sub-Committee</FONT>
    are John W. Ballantine, Robert H. Wadsworth, Dawn-Marie Driscoll
    (Alternate), Rebecca W. Rimel (Alternate) and Jean Gleason
    Stromberg (Alternate). During the calendar year 2009, the
    Operations Committee held six (6)&#160;meetings and the
    Valuation
    <FONT style="white-space: nowrap">Sub-Committee</FONT>
    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>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 KHI, 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>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    14
</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 -->
<!-- XBRL Pagebreak End -->

<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">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 Fund&#146;s 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 its 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">
    The following table shows the amount of fees that E&#038;Y
    billed to (i)&#160;a Fund during the Fund&#146;s last two fiscal
    years; and (ii)&#160;DIMA and any entity controlling, controlled
    by, or under common control with DIMA (collectively, the
    &#147;DIMA Entities&#148;) that provides ongoing services to a
    Fund, for engagements directly related to the Fund&#146;s
    operations and financial reporting, during the Fund&#146;s last
    two fiscal years. Each Fund&#146;s Audit Committee approved in
    advance all audit services and non-audit services that E&#038;Y
    provided to the Fund.
</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">Services
    that a Fund&#146;s Independent Registered Public Accountant
    Billed to the Fund and DIMA Entities</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="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="9%" 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="6%" 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 -->
<!-- TableOutputHead -->
<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">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>All Other<BR>
    </B>
</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">
    <B>Audit Fees<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Audit Related Fees<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom">
    <B>Fees<BR>
    </B>
</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>Billed to</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Billed
    to<SUP style="font-size: 85%; vertical-align: top">(2)</SUP></B>

</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Tax Fees Billed to</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="6" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Billed
    to<SUP style="font-size: 85%; vertical-align: top">(5)</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>Fiscal Year Ended November 30,</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fund<SUP style="font-size: 85%; vertical-align: top">(1)</SUP></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<SUP style="font-size: 85%; vertical-align: top">(3)</SUP></B>

</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Entities<SUP style="font-size: 85%; vertical-align: top">(4)</SUP></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>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    KHI
</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">
    2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    55,089
</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">
    8,232
</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">
    440,000
</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: 16pt">
    2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    56,102
</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">
    8,756
</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">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    55,380
</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">
    8,275
</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">
    440,000
</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: 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">
<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">
    2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    51,246
</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">
    7,657
</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">
    440,000
</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: 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">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 16pt">
    2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    49,134
</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">
    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">
    7,342
</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">
    440,000
</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: 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">
<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">
    2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    54,839
</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">
    8,195
</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">
    440,000
</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: 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>

<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">&#147;Audit Fees&#148; are the
    aggregate fees billed for professional services for the audit of
    the Fund&#146;s annual financial statements and services
    provided in connection with statutory and regulatory filings or
    engagements.
    </FONT></TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    15
</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 -->
<!-- XBRL Pagebreak End -->

<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">(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; for the Fund
    were billed for professional services rendered for 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;Tax Fees&#148; for the DIMA
    Entities were billed in connection with tax compliance services
    and agreed upon 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">(5)</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">
    <B>Non-Audit Services.</B> The following table shows the amount
    of fees that E&#038;Y billed during a Fund&#146;s last two
    fiscal years for non-audit services. Each Fund&#146;s Audit
    Committee pre-approved all non-audit services that E&#038;Y
    provided to the DIMA Entities that related directly to the
    Fund&#146;s operations and financial reporting. Each Fund&#146;s
    Audit Committee requested and received information from E&#038;Y
    about any non-audit services that E&#038;Y rendered during the
    Fund&#146;s last fiscal year to the DIMA Entities. Each
    Fund&#146;s Audit Committee considered this information in
    evaluating E&#038;Y&#146;s independence.
</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: 7pt; 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="11%" 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="14%" 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="14%" 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="14%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" 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">
    <B>Total Non-Audit<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">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" 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">
    <B>Fees Billed to<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">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" 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">
    <B>DIMA Entities<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">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" 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">
    <B>(engagements<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">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 7pt" 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">
    <B>related directly<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Total Non-Audit<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: 7pt" 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">
    <B>to the operations<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Fees Billed to<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: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Total Non-<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>and financial<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>DIMA Entities<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: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Audit Fees <BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>reporting of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>(all other<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: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
    <B>Fiscal Year Ended <BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Billed to Fund <BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>the Fund) <BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>engagements) <BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Total of (A), (B)<BR>
    </B>
</TD>
<TD>
&nbsp;
</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>November 30,</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(A)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(B)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>(C)</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>and (C)</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    KHI
</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>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,232
</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">
    440,000
</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">
    711,000
</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">
    1,159,232
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    2008
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,756
</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">
    1,324,733
</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">
    1,715,489
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    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>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,275
</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">
    440,000
</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">
    711,000
</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">
    1,159,275
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    2008
</DIV>
</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">
    1,324,733
</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">
    1,715,539
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    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>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7,657
</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">
    440,000
</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">
    711,000
</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">
    1,158,657
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    2008
</DIV>
</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">
    1,324,733
</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">
    1,715,330
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    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>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7,342
</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">
    440,000
</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">
    711,000
</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">
    1,158,342
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    2008
</DIV>
</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">
    1,324,733
</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">
    1,714,867
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    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>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    8,195
</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">
    440,000
</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">
    711,000
</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">
    1,159,195
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 15pt">
    2008
</DIV>
</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">
    1,324,733
</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">
    1,715,713
</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>
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    <BR>
    16
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->
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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">
    All other engagement fees were billed for services in connection
    with internal control reviews, agreed upon procedures and tax
    compliance for DIMA Entities that provide support for the
    operations of a 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>Audit Committee Pre-Approval Policies and Procedures.</B>
    Generally, each Fund&#146;s Audit Committee must pre-approve
    (i)&#160;all services to be performed for the Fund by the
    Fund&#146;s independent registered public accounting firm and
    (ii)&#160;all non-audit services to be performed by the
    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 the 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>

<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">
    There were no amounts that were approved by the Audit Committee
    pursuant to the de minimis exception under
    <FONT style="white-space: nowrap">Rule&#160;2-01</FONT>
    of
    <FONT style="white-space: nowrap">Regulation&#160;S-X.</FONT>
</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">
    According to each Fund&#146;s principal Independent Registered
    Public Accounting Firm, all of the principal Independent
    Registered Public Accounting Firm&#146;s hours spent on auditing
    the Fund&#146;s financial statements were attributed to work
    performed by full-time permanent employees of the principal
    Independent Registered Public Accounting Firm.
</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 2008 and 2009 financial
    statements, each Fund 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">
    E&#038;Y advised each Fund&#146;s Audit Committee that E&#038;Y
    had identified three 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
    2007 and 2008, Deutsche Bank AG (&#147;DB&#148;) provided
    standard overdraft protection on a depository account to the
    E&#038;Y member firm in India (&#147;E&#038;Y India&#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 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
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    17
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->
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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">
    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 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">
    Second, 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>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. However, should
    any Board Member Nominee become unable or unwilling to serve
    prior to the
</DIV>
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    <BR>
    18
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->
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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">
    Meetings, the persons named as proxies may vote your shares for
    substitute nominees, if any recommended by the Board. 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, 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.
</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 KHI, KMM and KST, to the extent permitted by the Amended and
    Restated Agreement and Declaration of Trust, any meeting of
    shareholders may, by action of the chairman of the meeting, be
    adjourned without further notice with respect to one or more
    matters to be considered at such meeting to a designated time
    and place, whether or not a quorum is present with respect to
    such matter; upon motion of the chairman of the meeting, the
    question of adjournment may be submitted to a vote of the
    shareholders, and in that case, any adjournment with respect to
    one or more matters must be approved by the vote of holders of a
    majority of the shares present and entitled to vote with respect
    to the matter or matters adjourned, and without further notice
    to the extent permitted by the Amended and Restated Agreement
    and Declaration of Trust. Unless a proxy is otherwise limited in
    this regard, any shares present and entitled to vote at a
    meeting that are represented by broker non-votes, may, at the
    discretion of the proxies named therein, be voted in favor of
    such an adjournment. For KTF and KSM, any meeting may be
    adjourned from time to time by a majority of the votes cast upon
    the question, whether or not a quorum is present, and the
    meeting may be held as adjourned without further notice.
    Adjournment will subject a Fund to additional expenses. 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 (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.
</DIV>
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    <BR>
    19
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->
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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 each Fund, each whole share is entitled to one vote and each
    fractional share is entitled to a proportionate fractional vote.
    For KHI, 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 KHI, KMM and KST,
    abstentions and broker non-votes will have the effect of a vote
    against the Proposal. For KTF and KSM, abstentions and broker
    non-votes will have no effect on 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 April&#160;9, 2010 (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 -->
<!-- TableOutputHead -->
<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>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    KHI
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    16,134,450.34
</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">
    39,750.00
</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">
    10,977,417.18
</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">
    <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 accordance 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
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    20
</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 -->
<!-- XBRL Pagebreak End -->

<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. 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, 2010, 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="35%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="16%">&nbsp;</TD>	<!-- colindex=02 type=quadleft -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="16%">&nbsp;</TD>	<!-- colindex=02 type=quadright -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="15%" 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 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 7pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" nowrap align="center" valign="bottom">
    <B>Shareholder Name and <BR>
    </B>
</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: 7pt" 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>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>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    DWS<BR>
    Municipal Income Trust,<BR>
    Common Stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    First Trust Portfolio L.P.<BR>
    The Charger Corporation <BR>
    120 East Liberty Drive<BR>
    Suite 400 <BR>
    Wheaton, IL  60187
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    3,043,576
</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">
    7.8
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    DWS<BR>
    Municipal Income Trust,<BR>
    Auction Rate<BR>
    Preferred Shares
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Citigroup Global<BR>
    Markets Inc.<BR>
    388 Greenwich Street<BR>
    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">
    34,552
</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">
    65.2
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    DWS<BR>
    Strategic Income Trust,<BR>
    Common Stock
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Wells Fargo and Company<BR>
    420 Montgomery Street San&#160;Francisco, CA  94104
</TD>
<TD>&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    234,865
</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">
    5.0
</TD>
<TD nowrap align="left" valign="bottom">
    %
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    DWS<BR>
    Strategic Municipal Income<BR>
    Trust, Auction<BR>
    Rate Preferred Shares
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    Citigroup Global <BR>
    Markets Inc.<BR>
    388 Greenwich Street <BR>
    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">
    1,798
</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">
    64.2
</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, 2009, 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>

<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
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    21
</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 -->
<!-- XBRL Pagebreak End -->

<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">
    services firms and their representatives, who will receive no
    extra compensation for their services, may solicit proxies
    electronically through the Internet, by telephone, by telegram
    or personally. Proxies that are obtained telephonically 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">1-866-821-2570.</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>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, 2009, all filings
    were timely, except that Philip Condon, the Portfolio Manager,
    filed a late Form&#160;4 for each of KSM and KST.
</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>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>

<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">
    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.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    22
</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 -->
<!-- XBRL Pagebreak End -->

<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">
    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
    2011 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 2011. A shareholder wishing to
    submit a proposal for inclusion in a Fund&#146;s proxy statement
    for the 2011 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;17, 2010 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 the advance notice requirements and shall
    be delivered to the Secretary at the principal executive office
    of the Fund not earlier than November&#160;20, 2010 nor later
    than 5:00&#160;p.m., Eastern Time, on December&#160;20, 2010.
    Each
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    23
</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 -->
<!-- XBRL Pagebreak End -->

<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">
    Fund&#146;s advance notice requirements are set forth as
    follows: KHI, KMM and KST in Exhibit&#160;D; and KTF and KSM in
    Exhibit&#160;E. 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 1-866-821-2570.</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&#160;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 24,
    2010:</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 and Proxy Statement are available at
    <FONT style="white-space: nowrap">https://www.envisionreports.com/dws.</FONT></B>
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    24
</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 -->
<!-- XBRL Pagebreak End -->

<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, 2010, 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, 2010.
</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. 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, 2010.
</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="22%">&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="8%">&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="3%">&nbsp;</TD>	<!-- colindex=14 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<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 colspan="23" 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 colspan="23" 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>Ingo<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 5pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Fund Name</B>
</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>Gefeke</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    DWS High 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">
<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">
    $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 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">
    $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 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">
    $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">
    $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">
    Over<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/Board Member</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">
    0
</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>
<!-- XBRL Pagebreak Begin -->

<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 -->
<!-- XBRL Pagebreak End -->

<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="23%">&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="2%" align="right">&nbsp;</TD>	<!-- colindex=14 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=14 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<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>Number 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>Ingo<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>Gefeke</B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -6pt; margin-left: 6pt">
    DWS High 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">
    2,500
</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">
<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">
    7,667
</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">
    2,500
</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>
<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">
    6,500
</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">
    9,734
</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>
<!-- XBRL Pagebreak Begin -->

<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 -->
<!-- XBRL Pagebreak End -->
</DIV><!-- END PAGE WIDTH -->
<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;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 -->
<!-- TableOutputHead -->
<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">(6)</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>
<!-- TableOutputBody -->
<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>Ingo Gefeke </B>(1967)&#160;<BR>
    Executive Vice President,<BR>
    2010&#160;&#151;
    present<SUP style="font-size: 85%; vertical-align: top">(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; Global Head of Distribution and
    Product Management, DWS Global Head of Trading and Securities
    Lending.  Member of the Board of Directors of DWS Investment
    GmbH Frankfurt (since July 2009) and DWS Holding &#038; Service
    GmbH Frankfurt (since January 2010); formerly: Global Chief
    Administrative, Officer Deutsche Asset Management (2004-2009);
    Global Chief Operating Officer, Global Transaction Banking,
    Deutsche Bank AG, New York (2001-2004); Chief Operating officer,
    Global Banking Division Americas, Deutsche Bank AG, New York
    (1999-2001); Central Management, Global Banking Services,
    Deutsche Bank AG, Frankfurt (1998-1999); Relationship
    Management, Deutsche Bank AG, Tokyo (1997-1998)
</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 and 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>
</TABLE>
<!-- XBRL Pagebreak Begin -->

<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 -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<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 -->
<!-- TableOutputHead -->
<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">(6)</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>
<!-- TableOutputBody -->
<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, 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>Caroline Pearson </B>(1962)&#160;<BR>
    Assistant Secretary,<BR>
    1997&#160;&#151;
    present<SUP style="font-size: 85%; vertical-align: top">(1)</SUP>

    <BR>
    Chief Legal Officer, <BR>
    from April
    2010<SUP style="font-size: 85%; vertical-align: top">(7)</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); Director and Associate General Counsel, UBS
    Global Asset Management (US) Inc. (2001-2004)
</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>Paul Antosca </B>(1957)&#160;<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>
    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 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>
    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
</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
</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 Caruso </B>(1965)&#160;<BR>
    Anti-Money Laundering <BR>
    Compliance Officer, <BR>
    2010&#160;&#151;
    present<SUP style="font-size: 85%; vertical-align: top">(1)(5)</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>
</TABLE>
<!-- XBRL Pagebreak Begin -->

<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 -->
<!-- XBRL Pagebreak End -->
<!-- XBRL Table Pagebreak -->

<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 -->
<!-- TableOutputHead -->
<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">(6)</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>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -8pt; margin-left: 8pt">
    <B>J. Christopher Jackson (1951)&#160;<BR>
    </B>Chief Legal Officer,<BR>
    2006&#160;&#151;
    present<SUP style="font-size: 85%; vertical-align: top">(1)(4)(7)</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 (2006&#160;- 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>

<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">Address: 60 Wall Street, New York,
    New York 10005
    </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">(6)</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>


<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">(7)</SUP></FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">J. Christopher Jackson has resigned
    as Chief Legal Officer effective April&#160;23, 2010 and
    Caroline Pearson has been appointed as Chief Legal Officer
    effective as of the same date.
    </FONT></TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    B-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 -->
<!-- XBRL Pagebreak End -->

<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;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, 2009. Mr.&#160;Gefeke 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="34%">&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="3%" 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 -->
<!-- TableOutputHead -->
<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">
    <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>
</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>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -5pt; margin-left: 5pt">
    DWS High Income Trust
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    394
</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">
    394
</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">
    394
</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">
    379
</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">
    447
</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">
    379
</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">
    394
</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">
    404
</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">
    379
</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">
    394
</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">
    379
</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">
    404
</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">
    529
</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">
    529
</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">
    529
</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">
    506
</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">
    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">
    506
</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">
    529
</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">
    544
</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">
    506
</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">
    529
</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">
    506
</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">
    544
</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">
    1,289
</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">
    1,289
</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">
    1,289
</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">
    1,217
</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">
    1,553
</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">
    1,217
</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">
    1,289
</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">
    1,337
</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">
    1,217
</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">
    1,289
</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">
    1,217
</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">
    1,337
</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">
    399
</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">
    399
</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">
    399
</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">
    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">
    453
</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">
    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">
    399
</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">
    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">
    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">
    399
</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">
    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">
    409
</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">
    265
</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">
    265
</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">
    265
</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">
    258
</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">
    288
</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">
    258
</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">
    265
</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">
    269
</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">
    258
</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">
    265
</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">
    258
</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">
    269
</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">
    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">
    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">
    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">
    240,000
</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">
    315,829
</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">
    240,000
</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">
    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">
    265,000
</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">
    240,000
</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">
    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">
    240,000
</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">
    298,000
</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>

<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 129
    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">Includes $75,829 in annual retainer
    fees by Dr.&#160;Freeman as Chairperson of DWS funds.
    </FONT></TD>
</TR>

</TABLE>

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

<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 -->
<!-- XBRL Pagebreak End -->

<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: 10pt; font-family: Arial, Helvetica; color: #000000; background: #FFFFFF">

    <B><FONT style="font-family: 'Times New Roman', Times">ADVANCE
    NOTICE REQUIREMENTS FOR<BR>
    DWS HIGH INCOME TRUST (&#147;KHI&#148;)<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 KHI, KMM and KST. The excerpt is qualified in its
    entirety by the complete Amended and Restated By-Laws for KHI,
    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>

<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">
    (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 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
</TD>
</TR>

</TABLE>
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    <BR>
    D-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 -->
<!-- XBRL Pagebreak End -->

<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">
    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;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
</TD>
</TR>

</TABLE>
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    <BR>
    D-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 -->
<!-- XBRL Pagebreak End -->

<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">
    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,
    (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
</TD>
</TR>

</TABLE>
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    <BR>
    D-3
</DIV><!-- END PAGE WIDTH -->
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<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">
    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;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
</TD>
</TR>

</TABLE>
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    <BR>
    D-4
</DIV><!-- END PAGE WIDTH -->
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<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">
    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
    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
</TD>
</TR>

</TABLE>
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    <BR>
    D-5
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<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">
    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
    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
</TD>
</TR>

</TABLE>
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    <BR>
    D-6
</DIV><!-- END PAGE WIDTH -->
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<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">
    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 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
</TD>
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    <BR>
    D-7
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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">
    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>

<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">
    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,
</TD>
</TR>

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    <BR>
    D-8
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    <TD width="93%"></TD>
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    <TD></TD>
    <TD align="left">
    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>

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    <BR>
    D-9
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    <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: 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>
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    <BR>
    E-1
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    <TD width="12%"></TD>
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    <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>

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    <BR>
    E-2
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<DIV style="width: 75%; margin-left: 12%"><!-- BEGIN PAGE WIDTH -->
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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">
    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>

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    <BR>
    E-3
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    <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>

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    <BR>
    E-4
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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">
    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>
    E-5
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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">
    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>
    E-6
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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 -->
<!-- XBRL Pagebreak End -->

<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>
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    <BR>
    E-7
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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 -->
<!-- XBRL Pagebreak End -->

<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>

<DIV align="left" style="margin-left: 5%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    (e)&#160;Submission of Questionnaire, Representation and
    Agreement.&#160;&#160;To be eligible to be a Shareholder nominee
    for election as a Trustee
</DIV>
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    <BR>
    E-8
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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 -->
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<DIV align="left" style="margin-left: 5%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    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.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: #FFFFFF">
    <BR>
    E-9
</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="font-family: Helvetica,Arial,sans-serif">
<P><DIV style="position: relative; float: left; width: 46%">
<DIV align="left" style="font-size: 12pt; margin-left: 9%; margin-top: 6pt"><B>DWS Municipal Income Trust</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-left: 4%; margin-top: 6pt"><IMG src="y83861ey8386101.gif" alt="(BAR CHART)">
</DIV>
<DIV align="left" style="margin-top: 70pt">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 80pt">
    <TD width="91%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" colspan="2"><DIV style="margin-left:0px; text-indent:-0px">Using a <B><u>black ink</u> </B>pen, mark your votes with an <B>X </B>as shown in
this example. Please do not write outside the designated areas.
</DIV></TD>
    <TD align="left" valign="top"><FONT face="Wingdings" STYLE="FONT-SIZE:24PT">&#120;</FONT></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<DIV style="position: relative; float: right; width: 48%">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="y83861ey8386104.gif" alt="(BAR CHART)">

</DIV>
<DIV align="left" style="font-size: 12pt; margin-top: 1pt"><B>Electronic Voting Instructions</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 3pt"><B>You can vote by Internet or telephone!<BR>
Available 24 hours a day, 7&nbsp;days a week!</B>
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 3pt">Instead of mailing your
proxy, you may choose one of the
two voting methods outlined below
to vote your proxy.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 3pt">VALIDATION DETAILS ARE LOCATED BELOW
IN THE TITLE BAR.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 3pt"><B>Proxies submitted by the Internet or
telephone must be received by 11:59
p.m., Eastern Time, on May
23, 2010.</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;&nbsp;&nbsp;</TD>
    <TD width="80%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">

<TD valign="top" nowrap><IMG src="y83861ey8386102.gif" alt="(INTERNET)"></td>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>
<FONT style="font-size: 10pt"><B>Vote by Internet</B></FONT><br><B>&#149;</B>&nbsp;&nbsp; Log on to the
Internet and
go to<BR>&nbsp;&nbsp;&nbsp; <B>http://proxy.georgeson.com/</B></TD>
</TR>
<TR valign="bottom" style="font-size: 1pt" >
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&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" nowrap><B>&#149;</B>&nbsp;&nbsp; Follow the steps
outlined on the secured
website.</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt"><!-- Blank Space -->
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px"><IMG src="y83861ey8386103.gif" alt="(TELEPHONE)">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>
<FONT style="font-size: 10pt">
<B>Vote by telephone</B></FONT>
<br><B>&#149;</B>&nbsp;&nbsp; Call toll free 1-877-456-7915
within the USA,<br>&nbsp;&nbsp;&nbsp; US
territories &#038; Canada
any time on a touch
tone telephone.<br>&nbsp;&nbsp;&nbsp; There
is <B>NO CHARGE </B>to you
for the call.
</TD>
</TR>
<TR valign="bottom" style="line-height: 1pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&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" rowspan="2"  ><DIV style="margin-left:0px; text-indent:0px"><B>&#149;</B>&nbsp;&nbsp;
Follow the instructions provided by the recorded message.</div></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
</DIV>
<BR clear="all"><BR>










<DIV align="RIGHT">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="98%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="65%"></TD>
    <TD width="15%"></TD>
    <TD width="10%"></TD>
    <TD width="15%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #f1e5f0">
    <TD align="left" valign="middle" nowrap style="border-bottom: 3px solid #000000; border-top: 3px solid #000000"><FONT  face="arial" style="font-size: 14pt"><B>&nbsp;&nbsp;&nbsp;&nbsp;Annual Meeting Proxy Card</B></font></TD>

<TD align="left" colspan="3" valign="middle" style="border-bottom: 3px solid #000000; border-top: 3px solid #000000"><IMG src="y83861ey8386110.gif" alt="(NUMBERS)">&nbsp;</TD>
</TR>
<TR><TD align="left" valign="top" style="font-size:3pt">&nbsp;</TD></TR>

<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 6pt; margin-top: 3pt; MARGIN-LEFT: 2%"><FONT style="white-space: nowrap"><FONT style="font-size:10pt">&#9660;</FONT>
<B>IF YOU HAVE NOT VOTED VIA THE INTERNET
 <u>OR</u> TELEPHONE, FOLD ALONG THE PERFORATION, DETACH AND RETURN
THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE.
</B>&nbsp;<FONT style="font-size:10pt">&#9660;</FONT></font></DIV>

<DIV align="center"><DIV style="font-size: 3pt; margin-top: 3pt; width: 100%; border-top: 1px dashed #9a258f">&nbsp;</DIV></DIV>

<DIV align="center">
<TABLE style="font-size: 9pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
   <TD width="3%"></TD>
   <TD width="97%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
   <TD nowrap align="left" valign="middle" colspan="2">&nbsp;&nbsp;&nbsp;&nbsp;
<FONT style="background:#000000;  width=2%">
<FONT color="#FFFFFF">&nbsp;<B>A</B>&nbsp;</FONT></FONT>
<b>Proposals &#151; THE BOARD OF TRUSTEES RECOMMENDS A VOTE <u>FOR</u> THE ELECTION OF ALL BOARD MEMBER NOMINEES.</b></TD>
</TR>
<!-- End Table Body -->

</TABLE></DIV>



<DIV align="center" style="margin-left: 2%">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
</TR>
<TR></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 Class&nbsp;II<br>
Board Members:
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">01 - Henry P. Becton, Jr.
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">02 - Paul K. Freeman
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">03 - William McClayton
</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" valign="top">04 - Jean Gleason Stromberg
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="font-size: 24pt"><b>&#043;</b></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="LEFT" style="margin-left: 4%">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="80%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><FONT style="font-family: Wingdings; FONT-size: 24pt">&#111;</FONT>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP align="left" valign="top"><B>Mark here to vote<br>
<u>FOR</u> all nominees</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-family: Wingdings; FONT-size: 24pt">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP align="left" valign="top"><B>Mark here to <u>WITHHOLD</u><br>
vote from all nominees</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><FONT style="font-family: Wingdings; FONT-size: 24pt">&#111;</FONT>
</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP align="left" valign="top"><B>For All <u>EXCEPT</u> </B>- To withhold authority to vote for any<br>
nominee(s), write the name(s) of such nominee(s) below.</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 33%"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 45%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>



<DIV align="center" style="margin-top: 50pt">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="96%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="98%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
<font style="font-size: 10pt; background:#000000; color=#FFFFFF">&nbsp;<B>B</B>&nbsp;</font><B><font style="font-size: 10pt">&nbsp;Non-Voting
Items</font></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Change of Address &#151; </B>
Please print new address below.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR style="font-size: 30px">
    <TD valign="top" style="border: 1px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border: 0px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="margin-top: 6pt; MARGIN-LEFT: 1%">
<TABLE style="font-size: 7pt" cellspacing="0" border="0" cellpadding="0" width="97%">
<TR valign="bottom">

    <TD COLSPAN="2">
<DIV style="background:#000000; WIDTH: 1%">
<font color="#FFFFFF"><font style="font-size: 10pt">&nbsp;<B>C</B></font>&nbsp;</FONT></DIV></TD>

<TD align="left" width="97%" nowrap><font style="font-size: 10pt"><b>Authorized
Signatures &#151;
This section must be completed for your vote to be counted.  &#151;
Date and Sign Below</b></font>

</TD>
</TR>

</TABLE>
</DIV>





<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 2%">
<B>PLEASE SIGN, DATE, AND RETURN PROMPTLY IN ENCLOSED ENVELOPE IF YOU ARE NOT VOTING BY PHONE OR</B>
<B>INTERNET. </B>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>

<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="96%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 5pt">
    <TD width="30%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="30%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" nowrap align="left"><DIV style="margin-left:0px; text-indent:-0px">Date (mm/dd/yyyy) &#151; Please print date below.
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP align="left" valign="top">Signature 1 &#151; Please keep signature within the box.
</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP align="left" valign="top">Signature 2 &#151; Please keep signature within the box.</TD>
</TR>
<TR valign="bottom" style="font-size: 20pt">
    <TD align="center" style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000">
&nbsp;/&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000; border-top: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000">&nbsp;</TD>

</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="CENTER" style="font-size: 10pt; margin-top: 6pt; margin-left: 1%"><IMG src="y83861ey8386107.gif" alt="(GRAPHIC)">
</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: Helvetica,Arial,sans-serif">


<DIV align="justify" style="font-size: 12pt; margin-top: 70pt; margin-left: 2%"><B>IMPORTANT NOTICE REGARDING THE AVAILABILITY OF
PROXY MATERIALS FOR THE SHAREHOLDER MEETING TO
BE HELD ON MAY 24, 2010:<br>The Notice of Joint Annual Meeting of Shareholders and Proxy Statement are available at https://www.envisionreports.com/dws</b>
</DIV>



<DIV align="center" style="font-size: 6pt; margin-top: 200pt;; margin-left:2%"><FONT style="font-size:10pt">&#9660;</FONT> <B>IF YOU HAVE NOT VOTED VIA THE INTERNET <u>OR</u> TELEPHONE, FOLD ALONG THE PERFORATION, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. </B><FONT style="font-size:10pt">&#9660;</FONT>
</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: 10pt; margin-top:40pt; margin-left:2%; margin-right:2%"><DIV style="width: 100%; border-bottom: 2px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>

<div align="center">
<TABLE style="font-size: 6pt" cellspacing="0" border="0" cellpadding="0" width="96%">
<tr style="font-size: 3pt">
      <td width="60%">&nbsp;</td>
      <td width="10%">&nbsp;</td>
      <td width="30%">&nbsp;</td>
</tr>
<tr style="font-size: 14pt">
      <td width="60%"><DIV align="justify" style="font-size: 14pt; margin-top: 0pt">
<B>Proxy &#151; DWS MUNICIPAL INCOME TRUST</B></DIV></td>
      <td width="10%">&nbsp;</td>
      <td width="30%" align="right"><B>&#151; Common Shares</B></td>
</tr>

<tr style="font-size: 3pt">
      <td width="60%">&nbsp;</td>
      <td width="10%">&nbsp;</td>
      <td width="30%">&nbsp;</td>
</tr>

</table>
</div>

<DIV align="center" style="font-size: 10pt; margin-top:0pt; margin-left:2%; margin-right:2%"><DIV style="width: 100%; border-bottom: 2px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>
<DIV align="justify" style="font-size: 14pt; margin-top: 10pt; margin-left:2%"><B>JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD MAY 24, 2010</B>
</DIV>


<DIV align="justify" style="font-size: 12pt; margin-top: 12pt; margin-left:2%"><B>THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF THE FUND.</B>

</DIV>
<DIV align="justify" style="font-size: 10pt; margin-top: 12pt; margin-left:2%">The undersigned hereby appoints John Millette, Caroline Pearson 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&nbsp;24, 2010, at 11:00&nbsp;a.m., Eastern time, and at any
adjournments thereof.</DIV>

<DIV align="justify" style="font-size: 10pt; margin-top: 10pt; margin-left: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 align="center" style="font-size: 10pt; margin-top: 24pt"><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: 400pt">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 24, 2010</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, Caroline Pearson 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 24, 2010, at 11:00 a.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: 10pt"><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">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="20%">&nbsp;</TD>
    <TD width="17%">&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;II</div></TD>

    <TD align="left" valign="top"><div style="margin-left:20%">Preferred</div></TD>
    <TD>&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) Henry P. Becton, Jr.
</TD>
    <TD align="left" valign="top">(05) Robert H. Wadsworth
</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) Paul K. Freeman
</TD>
    <TD align="left" valign="top">(06) Ingo Gefeke
</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) William McClayton
</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) Jean Gleason Stromberg
</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: 50%; 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 24, 2010:</B>
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 12pt"><B>The
Notice of Joint Annual Meeting of Shareholders and Proxy Statement 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: 12pt; 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 align="left" colspan="2" valign="top" nowrap>, 2010</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 style="font-size: 6pt">
<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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