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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000891092-05-001644.txt : 20050823
<SEC-HEADER>0000891092-05-001644.hdr.sgml : 20050823
<ACCEPTANCE-DATETIME>20050823134649
ACCESSION NUMBER:		0000891092-05-001644
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20050823
DATE AS OF CHANGE:		20050823
EFFECTIVENESS DATE:		20050823

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEW GERMANY FUND INC
		CENTRAL INDEX KEY:			0000858706
		IRS NUMBER:				133555471
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-05983
		FILM NUMBER:		051043253

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154
		BUSINESS PHONE:		800-437-6269

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LENOX FUND INC
		DATE OF NAME CHANGE:	19900115
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>e22368_defa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<HTML><HEAD><TITLE></TITLE>
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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=3><B>The New Germany Fund,
Inc. </B></FONT></P>

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<table cellpadding=0 cellspacing=0 border=0 width=100%>
  <tr valign=Bottom>

    <td width=46% align=LEFT>&nbsp;</td>
    <td width=5% align=LEFT>&nbsp;</td>
    <td width=31% align=LEFT>&nbsp;</td>
    <td width=18% align=LEFT><font size="1">345 Park Avenue <br>
      New
York, NY 10154</font></td>
  </tr>
</table>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>THE NEW GERMANY
FUND, INC. <BR>
  ANNOUNCES ANNUAL MEETING VOTE </B></FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=1>FOR IMMEDIATE RELEASE </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>New
York, New York, June 24, 2005 &#150; The New Germany Fund, Inc. (GF)</b> announced today that at
its annual meeting of stockholders held on June 22, 2005, all three matters before the
meeting were decided as management recommended. The four directors nominated by the Board
of Directors were re-elected for three-year terms. The advisory stockholder proposal to
realize net asset value was defeated. These two matters had been contested. Stockholders
also ratified PricewaterhouseCoopers LLP as auditors, which was not contested. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
dissident stockholder had solicited proxies for an opposing slate of directors. The
Fund&#146;s Board of Directors had previously announced that the individuals on the opposing
slate were not eligible to be seated as directors under the Fund&#146;s Bylaws. The dissident
stockholder did not submit votes for the opposing slate and therefore, any instructions
in the related proxies are not included in the results of the meeting. Despite this, the
Fund obtained a quorum for the meeting. The Fund has been advised unofficially that the
number of votes received by management&#146;s director nominees exceeded the number of proxies
obtained, and shares beneficially held, by the dissident stockholder, which could have
been voted for the opposing slate. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;More
  stockholders voted against than in favor of the dissident stockholder&#146;s
  other proposal that stockholders &#147;be afforded an opportunity to realize
  net asset value for their shares as soon as practicable.&#148; As noted in the
  Fund&#146;s proxy statement, the Board of Directors will give the proposal such
  weight as it believes appropriate under the circumstances, including the results
  of the voting. Had the dissident stockholder submitted votes for the proxies
  he apparently obtained, the proposal would have received more votes in favor
  than against. While the Board of Directors will consider the proposal, as well
  as the fact that no such votes were actually submitted, the Board continues
  to believe that the longer-term value proposition of the Fund and its capital
  appreciation investment objective are well served by the closed-end format.
  In reaching this conclusion, the Board has considered the Fund&#146;s superior
  performance in recent years. The Fund&#146;s total return in 2004 was 24.44%
  based on net asset value, and 93.07% in 2003*. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
previously reported, Institutional Shareholder Services (ISS), a leading provider of
proxy voting and corporate governance services, recommended in favor of the Board&#146;s
director nominees and the Board&#146;s recommendations that stockholders vote against the
dissident stockholder&#146;s proposal. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
the election of directors, 7,661,376 shares were voted in favor of John Bult, 7,651,850
shares were voted in favor of John H. Cannon, 7,639,069 shares were voted in favor of
Werner Walbr&#246;l and 7,627,593 shares were voted in favor of Peter Z&#252;hlsdorff. As
percentages of the shares present in person or by proxy and of the shares outstanding,
91.67% of the shares present and 30.64% of the shares outstanding voted in favor of Mr.
Bult, 91.55% of the shares present and 30.60% of the shares outstanding voted in favor of
Mr. Cannon, 91.40% of the shares present and 30.55% of the shares outstanding voted in
favor of Mr. Walbr&#246;l and 91.26% of the shares present and 30.51% of the shares
outstanding voted in favor of Mr. Z&#252;hlsdorff. </FONT></P>


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<BR>
<TABLE WIDTH=100%><TR><TD WIDTH=20% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD><TD WIDTH=60% ALIGN=center><FONT SIZE="2">
</FONT></TD><TD WIDTH=20% ALIGN=right><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE>
<HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT><BR>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
actual voting results for the ratification of auditors and the stockholder proposal were
as follows: </FONT></P>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600 align="center">
  <TR VALIGN=Bottom>

    <TH COLSPAN=2></TH>
    <TH COLSPAN=2></TH>
    <TH COLSPAN=2></TH>
    <TH COLSPAN=2></TH>
  </TR>
  <TR VALIGN=Bottom>

    <TD WIDTH=36% ALIGN=LEFT><font size="2"></font></TD>
    <TD WIDTH=9% ALIGN=LEFT><font size="2"></font></TD>
    <TD WIDTH=9% ALIGN=center><font size="2">For</font>
      <hr align="center" noshade size="1" width="45%">
    </TD>
    <TD WIDTH=8% ALIGN=center><font size="2"></font></TD>
    <TD WIDTH=8% ALIGN=center><font size="2">Against</font>
      <hr align="center" noshade size="1" width="100%">
    </TD>
    <TD WIDTH=11% ALIGN=center><font size="2"></font></TD>
    <TD WIDTH=8% ALIGN=center><font size="2">Abstain</font>
      <hr align="center" noshade size="1" width="100%">
    </TD>
    <TD WIDTH=11% ALIGN=LEFT><font size="2"></font></TD>
  </TR>
  <TR VALIGN=Bottom>

    <TD ALIGN=right width="36%"><font size="2">Ratification of auditors</font>
      <hr align="right" noshade size="1" width="60%">
    </TD>
    <TD ALIGN=LEFT width="9%"><font size="2"></font></TD>
  </TR>
  <TR VALIGN=Bottom>

    <TD ALIGN=right width="36%"><font size="2">number of shares</font></TD>
    <TD ALIGN=LEFT width="9%"><font size="2"></font></TD>
    <TD ALIGN=left width="9%">
      <div align="left"><font size="2">8,007,399</font></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"><font size="2">185,364</font></div>
    </TD>
    <TD ALIGN=left width="11%">
      <div align="left"></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"><font size="2">164,917</font></div>
    </TD>
    <TD ALIGN=LEFT width="11%"><font size="2"></font></TD>
  </TR>
  <TR VALIGN=Bottom>

    <TD ALIGN=right width="36%"><font size="2">% of outstanding</font></TD>
    <TD ALIGN=LEFT width="9%"><font size="2"></font></TD>
    <TD ALIGN=left width="9%">
      <div align="left"><font size="2">32.03%</font></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"><font size="2">0.74%</font></div>
    </TD>
    <TD ALIGN=left width="11%">
      <div align="left"></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"><font size="2">0.66%</font></div>
    </TD>
    <TD ALIGN=LEFT width="11%"><font size="2"></font></TD>
  </TR>
  <TR VALIGN=Bottom>

    <TD ALIGN=right width="36%"><font size="2">% of shares present</font></TD>
    <TD ALIGN=LEFT width="9%"><font size="2"></font></TD>
    <TD ALIGN=left width="9%">
      <div align="left"><font size="2">95.81%</font></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"><font size="2">2.22%</font></div>
    </TD>
    <TD ALIGN=left width="11%">
      <div align="left"></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"><font size="2">1.97%</font></div>
    </TD>
    <TD ALIGN=LEFT width="11%"><font size="2"></font></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=right width="36%">&nbsp;</TD>
    <TD ALIGN=LEFT width="9%">&nbsp;</TD>
  </TR>
  <TR VALIGN=Bottom>

    <TD ALIGN=right width="36%"><font size="2">Stockholder proposal</font>
      <hr align="right" noshade size="1" width="60%">
    </TD>
    <TD ALIGN=LEFT width="9%"><font size="2"></font></TD>
  </TR>
  <TR VALIGN=Bottom>

    <TD ALIGN=right width="36%"><font size="2">number of shares</font></TD>
    <TD ALIGN=LEFT width="9%"><font size="2"></font></TD>
    <TD ALIGN=left width="9%">
      <div align="left"><font size="2">3,536,360</font></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"><font size="2">4,519,848</font></div>
    </TD>
    <TD ALIGN=left width="11%">
      <div align="left"></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"><font size="2">301,465</font></div>
    </TD>
    <TD ALIGN=LEFT width="11%"><font size="2"></font></TD>
  </TR>
  <TR VALIGN=Bottom>

    <TD ALIGN=right width="36%"><font size="2">% of outstanding</font></TD>
    <TD ALIGN=LEFT width="9%"><font size="2"></font></TD>
    <TD ALIGN=left width="9%">
      <div align="left"><font size="2">14.14%</font></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"><font size="2">18.08%</font></div>
    </TD>
    <TD ALIGN=left width="11%">
      <div align="left"></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"><font size="2">1.21%</font></div>
    </TD>
    <TD ALIGN=LEFT width="11%"><font size="2"></font></TD>
  </TR>
  <TR VALIGN=Bottom>

    <TD ALIGN=right width="36%"><font size="2">% of shares present</font></TD>
    <TD ALIGN=LEFT width="9%"><font size="2"></font></TD>
    <TD ALIGN=left width="9%">
      <div align="left"><font size="2">42.31%</font></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"><font size="2">54.08%</font></div>
    </TD>
    <TD ALIGN=left width="11%">
      <div align="left"></div>
    </TD>
    <TD ALIGN=left width="8%">
      <div align="left"><font size="2">3.61%</font></div>
    </TD>
    <TD ALIGN=LEFT width="11%"><font size="2"></font></TD>
  </TR>
</TABLE>






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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>&nbsp;The
New Germany Fund, Inc.</b> is a non-diversified, closed-end investment company seeking
capital appreciation primarily through investment in the <i>Mittelstand</i> &#151; an important group
of small and mid-cap German companies. The Fund may invest up to 35% of its assets in
large cap German companies, and up to 20% in other Western European companies. Its shares
are listed on the New York Stock Exchange under the symbol &#147;<b>GF</b>&#148;. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Fund is not diversified and may focus its investments in certain geographic regions,
thereby increasing its vulnerability to developments in that region. Investing in foreign
securities presents certain unique risks not associated with domestic investments, such
as currency fluctuation, political and economic change, and market risks. This may result
in greater share price volatility. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares
of closed-end funds frequently trade at a discount to net asset value. The price of the
Fund&#146;s shares is determined by a number of factors, several of which are beyond the
control of the Fund. Therefore, the Fund cannot predict whether its shares will trade at,
below or above net asset value. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Performance
  is historical, assumes reinvestment of all dividends and capital gains, and
  does not guarantee future results. Investment returns and principal value fluctuate
  with changing market conditions so that, when sold, shares may be worth more
  or less than their original cost. Current performance may be lower or higher
  than the performance data quoted. Please visit www.newgermanyfund.com for the
  product&#146;s most recent performance. The Fund&#146;s average annual performance
  as of 5/31/05 for 1-year, 3-year, 5-year and 10-year periods was 18.51%, 18.05%,
  -5.37% and 4.25%, respectively, on a net asset value basis and 28.15%, 18.09%,
  -3.28% and 5.02%, respectively, on a market price basis. (06/39140) </FONT></P>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 align="center" WIDTH=600>
  <TR VALIGN=Bottom>

    <TH COLSPAN=2></TH>
    <TH width="178"></TH>
  </TR>

  <TR VALIGN=Bottom>
    <TD ALIGN=LEFT WIDTH=1>&nbsp;</TD>
    <TD ALIGN=center colspan="2">
      <p><font size="2"># # #

</font></p>
      <p><font size="2"><b>For further information please contact:
</b></font></p>
    </TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=LEFT WIDTH=1>&nbsp;</TD>
    <TD ALIGN=LEFT WIDTH=421><font size="2">Jonathan Diorio</font></TD>
    <TD ALIGN=LEFT WIDTH=178><font size="2">Rosalia Scampoli</font></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=LEFT width="1">&nbsp;</TD>
    <TD ALIGN=LEFT width="421"><font size="2">Deutsche Asset Management</font></TD>
    <TD ALIGN=LEFT width="178"><font size="2">Deutsche Asset Management</font></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=LEFT width="1">&nbsp;</TD>
    <TD ALIGN=LEFT width="421"><font size="2">Investor Relations</font></TD>
    <TD ALIGN=LEFT width="178"><font size="2">Media Relations</font></TD>
  </TR>
  <TR VALIGN=Bottom>
    <TD ALIGN=LEFT width="1">&nbsp;</TD>
    <TD ALIGN=LEFT width="421"><font size="2">(212) 454.2208</font></TD>
    <TD ALIGN=LEFT width="178"><font size="2">(212) 250.5536</font></TD>
  </TR>
</TABLE>

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<TABLE WIDTH=100%><TR><TD WIDTH=20% ALIGN=left><FONT SIZE=1>&nbsp;</FONT></TD><TD WIDTH=60% ALIGN=center><FONT SIZE="2">
</FONT></TD><TD WIDTH=20% ALIGN=right><FONT SIZE="1">&nbsp;</FONT></TD></TR></TABLE>
<HR SIZE=5 noshade WIDTH=100% ALIGN=LEFT><BR>

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