Frequently Asked Questions (F.A.Q.)

1. What is the settlement about?

   On December 20, 2006, Deutsche Asset Management Inc. and Deutsche Investment Management Americas, Inc. (the Respondents) entered into an Assurance of Discontinuance (the Assurance) with the Attorney General of the State of New York (NYAG). The Assurance stemmed from an investigation into alleged market timing within the Scudder Family of Mutual Funds. The Respondents neither admitted nor denied the allegations contained in the Assurance in entering into this settlement.

   On December 21, 2006, the Securities and Exchange Commission (SEC) filed a settled order with regard to Deutsche Asset Management, Inc. and Deutsche Investment Management Americas, Inc. in connection with an investigation into market timing within the Scudder Family of Mutual Funds, which was conducted in parallel with the NYAG’s investigation. In the SEC order, the Respondents were ordered to pay $17,200,000 in disgorgement that is deemed satisfied if the Respondents refund to the funds and/or shareholders the amounts described in the Assurance. The Respondents neither admitted nor denied the allegations contained in the SEC’s settled order.

What were the terms of the Assurance of Discontinuance?

Under the terms of the Assurance, the Respondents were required to pay a total of $102,314,360.00 in dilution allegedly sustained by the funds and a $20 million civil penalty. The total $122,314,360.00 will be distributed to shareholders pursuant to the Distribution Plan approved by the NYAG.

3. Can I get a copy of the Assurance of Discontinuance?
   How can I see the settlement notice?

   Yes. You can obtain a copy of the NYAG’s Assurance at either the NYAG website or the settlement website. The settlement website has links to all of the important documents related to this settlement, including those on the NYAG website.

   The direct link to the NYAG website to read the Assurance of Discontinuance is
   http://www.oag.state.ny.us/media_center/2006/dec/deutsche_aod.pdf

4. What is the difference between "disgorgement" and "civil penalty"?

   "Disgorgement" is the repayment of profits that is imposed on violators by the courts or by a government agency. Disgorgement is a remedy not a punishment.

   A "civil penalty" is a punitive fine imposed by a civil court or government agency on an entity that is alleged to have engaged in a sanctionable activity. For purposes of this distribution, the distinction between "disgorgement" and a "civil penalty" is irrelevant because both the disgorgement and the civil penalty amounts in this matter will be distributed to the shareholders.

5. What is market timing?

   Market timing has various definitions, one of which is the buying and selling of mutual fund shares in order to exploit inefficiencies in mutual fund pricing.

6. What is the time period covered by this settlement?

   The time period covered by this settlement is January 1, 1998 through September 30, 2003.

7. How long do I have to cash the distribution check?

   Checks issued prior to February 4, 2010 have a 90 day expiration date from the date of issue. All checks issued from February 4 going forward will have a 30 day expiration from the date of issue.

8. What happens to any unclaimed funds if all shareholders are not located?

   All unclaimed funds will remain in the escrow account and be available for a secondary distribution. The secondary distribution will be made to funds where the alleged dilution was considered immaterial in the first distribution. If there are still residual funds after the 2nd distribution is completed, a final distribution will be made to the currently active funds on a pro-rata basis based on the calculated dilution.

9. I received a check made payable to my IRA account. What do I do with this check?

   You have 3 options with this check:

   1. If your retirement account is still with the custodian listed on the check, forward this check with a letter of instruction to your current custodian and the funds will be deposited into your retirement account. Be sure to include your current account number with the correspondence.
      
      
   2. If your retirement account is with another custodian, write the word void across the front of the check and return it to the Fund Administrator, Boston Financial Data Services, Inc. (Boston Financial) Include with the check a letter of instruction indicating the following:
      
      
      i. Your new custodian.
      ii. The account number in which you want the funds deposited.

      You will then be issued a new check to forward to your current custodian. When forwarding, include a letter of instruction explaining you want the funds deposited into your IRA retirement account.

   3. If you wish to have this check made payable to yourself, you will need to do the following:
      
      
      i. Return the check with the word void written across the front and a letter of instruction requesting it be made payable
         to you.
      ii. Include your date of birth in your letter of instruction.
      iii. Complete and return the appropriate reissue form (substitute W-4P/W-9) that can be found on the
           "Tax Information" page
      iv. Send this information to the following address:
      
      

      Deutsche Asset Management Inc., Distribution
      c/o Boston Financial - Distribution Administrator
      PO Box 9124
      Canton, MA 02021-9124

      Note: All applicable federal taxes and penalties will be deducted from your check as well as any required state taxes.

   You should consult with your financial advisor or tax professional prior to cashing this check to determine the potential tax consequences and appropriate tax treatment for your particular situation.

10. We are an omnibus account holder but we have not previously been notified of our responsibilities under the provisions of the settlement. What are our options now?

    If the total distribution is $1,000.00 or more you have 3 options:

    Option 1
    As the Omnibus account holder, you could use the allocation methodology that was developed for this distribution plan and apply it to your existing accounts. This would ensure that your accounts receive the correct amount. You must notify Navigant Consulting, Inc. in writing that you will distribute the proceeds in accordance with the Plan.

    Option 2
    Provide all the necessary information to the Fund Administrator, Boston Financial, so that we may apply the methodology to your accounts. You have to notify Boston Financial within 30 days of receiving the mailing and provide all information in machine-readable form. Boston Financial would perform the calculation but you would remain responsible for the distribution.

    Option 3
    As the Omnibus account holder you can elect to not distribute the settlement proceeds. All unclaimed funds will then be made available to other shareholders for a secondary distribution. The secondary distribution will be made to shareholders in funds where the dilution was considered immaterial in the first distribution. If, after the 2nd distribution is completed, there are still residual funds, they will be deposited to the currently active funds on a pro-rata basis based on the calculated dilution.

    If the total distribution amount is less than $1,000.00 there are 2 options:

    Option 1
    This option would allow you, as the Omnibus Account Holder exercising your reasonable discretion, to apply any distribution technique that you deem consistent with your fiduciary or other legal obligations.

    Option 2
    As the Omnibus account holder you can elect not to distribute the settlement proceeds and return the check to Boston Financial.

11. Why is part of my check made up from The Bear Stearns distribution?

    On March 16, 2006 Bear, Stearns & Co., Inc. and Bear, Stearns Securities Corp. ("Bear Stearns") consented to the entry of an Order by the Securities and Exchange Commission without admitting or denying the Order’s findings. The Order established the Bear Stearns Fair Fund with money paid by Bear Stearns to distribute the disgorgement and penalty funds to investors who were harmed between January 1999 and October 2003 by the conduct described in the Order. An Independent Distribution Consultant was retained by Bear Stearns to develop a Plan of Distribution and oversee the distribution to Eligible Mutual Funds due to receive an allocation from the Fund.

    The Plan was approved by the SEC on February 4, 2009. A copy of the Plan and other important documents are available at the website established for the Bear, Stearns settlement. www.bearstearnsfairfundsettlement.com.

12. Why didn’t I receive a payment from the Bear Stearns settlement?

    Not all DWS Scudder funds were affected by the alleged market timing by Bear, Stearns & Co. or Bear, Stearns Securities Corp. In some cases money from the settlement was paid directly to shareholders of the affected funds. In other cases money was paid directly to the asset base of the fund. These distributions were approved by the SEC.

13. Are there any tax consequences if I cash this check?

    The Tax Administrator has drafted a notice entitled "Deutsche Investment Management Americas, Inc. Qualified Settlement Fund Statement to Eligible Investors". It is available on the "Tax Information" page.

    You should consult with your financial advisor or tax professional prior to cashing this check to determine the potential tax consequences and appropriate tax treatment for your particular situation.

14. Will I receive a Form 1099 to use when filing my taxes for 2009?

    In most cases you will not receive a 1099. If you elect to have your IRA or Retirement Plan check made payable to yourself, a 1099-R will be issued in January of the year following the distribution..

    You should consult with your financial advisor or tax professional prior to cashing this check to determine the potential tax consequences and appropriate tax treatment for your particular situation.