DWS Global Commodities Stock Fund, Inc. Authorizes Share Repurchase Program

2008-07-23 23:50:02 -

- DWS Global Commodities Stock Fund, Inc. (the "Fund") (NYSE: GCS) announced today that the Fund's Board of Directors has authorized an open-market share repurchase program. Effective upon notice to Fund shareholders in the Fund's Annual Report to Stockholders, the Fund may purchase an aggregate of up to 20% of the Fund's outstanding shares of common stock in open-market transactions over a twelve month period. The amount and timing of the repurchases will be at the discretion of Deutsche Investment Management Americas Inc. ("DIMA"), the Fund's investment adviser, and subject to market conditions and investment considerations. DIMA will seek to purchase shares at prices that will be accretive to the Fund's net asset value ("NAV").

The Board's authorization of the repurchase program followed the completion of a program of six consecutive semiannual tender offers for 5% of the outstanding shares, which commenced in December, 2005 and concluded with the Fund's most recent tender offer that closed on July 14, 2008. The Board believes that the share repurchase program is an important tool for seeking to address the Fund's current discount to net asset value and for creating a measure of additional liquidity for Fund shares. The Board will monitor the impact of the share repurchase program on the discount and may consider from time to time additional or alternative measures to address the discount that may be appropriate in the future. In doing so, it will also monitor the effects of the repurchase program and will consider the potential impact of such other measures on the Fund's expense ratio, its portfolio turnover and its ability to achieve its objectives.

"We recommended to the Board that it pursue an aggressive share repurchase program in an effort to mitigate the discount and further enhance the strong returns already achieved through our active management within the commodities sector" said Douglas Beck, Managing Director, Head of Product Management Americas for DWS Investments. "There are a variety of benefits that the fixed capital base of a closed-end fund structure provides to long-term shareholders. However, we saw an opportunity to build the Fund's NAV while, at the same time, providing an additional level of liquidity to the trading market for the Fund's shares."

DWS Global Commodities Stock Fund, Inc. (NYSE: GCS) is a non-diversified, closed-end investment company currently invested in equity and commodities-linked securities of companies in commodities-related industries or issuers whose value is tied to the price of certain commodities or commodities-related indexes or parts of indices. The investment objective of the Fund is capital appreciation with total return as a secondary objective. IMPORTANT INFORMATION

Shares of closed-end funds, unlike open-end funds, typically 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.

Certain statements contained in this release are forward-looking in nature. These include all statements relating to plans, expectations, and other statements that are not historical facts and typically use words like "expect," "anticipate," "believe," and similar expressions. Such statements represent management's current beliefs, based upon information available at the time the statements are made, with regard to the matters addressed. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. The Fund and Fund management do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction. Fund shares are not FDIC-insured and are not deposits or other obligations of, or guaranteed by, any bank. Fund shares involve investment risk, including possible loss of principal. -0- NOT FDIC/ NCUA INSURED -- MAY LOSE VALUE -- NO BANK GUARANTEE NOT A DEPOSIT -- NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

DWS Investments is part of Deutsche Asset Management, which is the marketing name in the US for the asset management activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche Investment Management Americas Inc. and DWS Trust Company. Copyright (C) 2008 DWS Investments Distributors, Inc. (R-5117-2 7/08)

Media:
Deutsche Bank Press Office, 212-250-7171
or
Investors:
DWS Closed-end Funds, 800-349-4281