DWS Dreman Value Income Edge Fund, Inc. Announces Extension of Share Repurchase Program

DWS Dreman Value Income Edge Fund, Inc. (the “Fund”) (NYSE: DHG) announced today that the Fund’s Board of Directors has extended the open-market share repurchase program, upon notification to stockholders in the Fund’s Annual Report to Stockholders. The Fund may continue to purchase an aggregate of up to 5% of the Fund’s outstanding shares of common stock in open-market transactions over the twelve month period from December 1, 2009 until November 30, 2010. 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 extension follows the previous repurchase program which commenced on December 1, 2008 and runs until November 30, 2009. The Board believes that the share repurchase program is an important tool for continuing to address the Fund’s 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 continue to 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.

For more information on DHG visit www.dws-investments.com or call (800) 349-4281.

IMPORTANT INFORMATION

DWS Dreman Value Income Edge Fund, Inc. is a non-diversified, closed-end investment company. The Fund's investment objective is to seek to achieve a high level of total return. The Fund pursues its investment objective through a combination of an income strategy designed to generate regular income and reduce volatility (the "Income Strategy"), and a quantitative long/short strategy designed to seek returns that are uncorrelated to the market (the "Hedge Strategy"). There is no assurance the fund will achieve its objective. Its shares are listed on the New York Stock Exchange under the symbol “DHG”.

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.

DWS Investments is part of Deutsche Bank’s Asset Management division and, within the US represents the retail asset management activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche Investment management Americas Inc. and DWS Trust Company

R-8482-2 (9/09)