New York, October 27, 2005 -- The Germany Fund, Inc. (GER) announced today that stockholders approved the expansion of its investment focus from Germany to the 12 countries utilizing the Euro currency. "We are excited by this change and look forward to the broader European investment horizon and the opportunities it presents," said Julian Sluyters, President of the Fund. The Fund has changed its name to "The European Equity Fund, Inc."

Effective at the opening of trading on October 31, 2005, the Fund's ticker symbol on the New York Stock Exchange will change from GER to EEA. The CUSIP number for its shares will also change, from 374143105 to 298768102, effective October 31, 2005. No action is required by stockholders relating to these changes. Existing share certificates with the old name of the Fund remain fully valid.

Under the Fund's new investment objective and policies, it will seek long-term capital appreciation through investment primarily (normally at least 80% of its assets) in equity and equity-linked securities of companies domiciled in countries utilizing the Euro currency. The Fund is a closed-end investment company with $142 million in net assets as of September 30, 2005 that is managed and advised by subsidiaries of Deutsche Bank AG. "We expect the transition to European investing will be completed within 3 months," said Mr. Sluyters. Countries utilizing the Euro are: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain.

The European Equity Fund, Inc. (formerly The Germany Fund, Inc.) seeks long-term capital appreciation through investment primarily (normally at least 80% of its assets) in equity and equity-linked securities of companies domiciled in countries utilizing the Euro currency. Its shares are listed on the New York Stock Exchange under the symbol "GER" until the close of business of October 28, 2005. Effective October 31, 2005 its shares will trade on the NYSE under ticker symbol "EEA".

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.

Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering, and once issued, shares of closed-end funds are sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to net asset value. The price of the Fund's shares is determined by a number of factors, several of which are beyond the control of the Fund. Therefore, the Fund cannot predict whether its shares will trade at, below or above net asset value.