SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES
EXCHANGE ACT OF 1934
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Rule 14a-6(e)(2)).
THE NEW GERMANY FUND, INC.
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(Name of Registrant as Specified in Its Charter)
OPPORTUNITY PARTNERS L.P.
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Opportunity Partners L.P., 60 Heritage Drive, Pleasantville, NY
10570
(914) 747-5262 // Fax: (914) 747-5258//oplp@optonline.net
June 20, 2005
Dear Fellow Shareholder of The New Germany Fund:
If you want the board of directors to take action to address the
discount, it is critical that you read and understand this
letter.
The good news is that our proposal recommending that shareholders
be afforded an opportunity to realize net asset value looks like
it will pass by a wide margin - and the board already knows that.
The bad news is that many shareholders voted for our proposal on
management's white proxy card and the board will probably ignore
the vote.
If you already voted for our net asset value proposal on
management's white proxy card, you should immediately vote FOR it
on our green proxy card. If you cannot find your green proxy
card, please ask your broker to vote your shares on our green
proxy card for you - but you must do it immediately.
If there is some reason you cannot vote on our green proxy card
but you still want the board to take action to address the
discount, that is more likely to happen if you don't vote now,
i.e., if you rescind your white proxy card. Here is why not
voting yet is preferable to voting on management's white proxy
card.
Because the board has said it will not count our proxies without
a court order, we will probably not attend the meeting. Without
our proxies, there may not be a quorum which means no directors
can be elected. If there is no quorum again next year, any
shareholder can file a lawsuit to have the Fund liquidated and
the proceeds paid to shareholders. To avoid that possibility,
the board desperately wants to get a quorum. If you voted for
open-ending on management's white proxy card, you may be
unwittingly undermining your ability to influence the board to
address the discount. That is because if the board can not get a
quorum, they will most likely adjourn the meeting and make a
concession, e.g., agree to conduct a self-tender offer to get
enough additional proxies to reach a quorum.
The bottom line is that if you want an open-ending or a tender
offer, the worst thing you can do is to vote on management's
white proxy card. If you have any questions, please call me at
(914) 747-5262 or e-mail me at oplp@optonline.net.
Yours truly,
Phillip Goldstein
Fellow GF Shareholder