DWS High Income Opportunities Fund, Inc. Announces Extension of Share Repurchase Program

DWS High Income Opportunities Fund, Inc. Announces Extension of Share Repurchase Program

NEW YORK--(BUSINESS WIRE)-- DWS High Income Opportunities Fund, Inc. (NYS: DHG) (the "Fund") announced today that the Fund's Board of Directors has extended the Fund's existing open market share repurchase program for an additional twelve-month period. 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 period from December 1, 2013 until November 30, 2014. 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, 2012 and runs until November 30, 2013. The Board believes that the share repurchase program is a helpful tool for continuing to address any significant Fund discount to NAV 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 may consider the potential impact of such other measures on the Fund's expense ratio, its portfolio turnover and its ability to achieve its objectives. Results of repurchases under the program for the year ended September 30, 2013 will be available in the Fund's upcoming Annual Report to Stockholders.

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

Important Information

DWS High Income Opportunities Fund, Inc. is a diversified, closed-end investment company. The Fund's investment objective is to seek high current income with a secondary objective of total return. The Fund pursues its investment objectives by investing primarily in securities designed to generate income, with the potential for capital appreciation being a secondary consideration.The Fund may invest in a broad range of income-producing securities, including, but not limited to, domestic and foreign debt securities of any credit quality or maturity (including below investment grade debt securities and debt securities of issuers located in countries with new or emerging securities markets), convertible securities (including convertible bonds), dividend-paying common stocks, preferred stocks, and securities of real estate investment trusts ("REITS"), energy trusts and other investment companies.The Fund may invest in debt securities not paying interest currently and securities in default.In addition, the Fund may invest in senior bank loans, including bank loan participations and assignments.The Fund may buy or sell protection on credit exposure and may also purchase securities on a when-issued basis and engage in short sales.The Fund may invest in cash or money market instruments in the event portfolio management determines that securities meeting the Fund's investment objectives are not readily available for purchase. Future earnings of the Fund cannot be guaranteed and the Fund's dividend policy is subject to change. Any fund that concentrates in a particular segment of the market will generally be more volatile than a fund that invests more broadly. Bond investments are subject to interest-rate and credit risks. When interest rates rise, bond prices generally fall. Credit risk refers to the ability of an issuer to make timely payments of principal and interest. Investments in lower-quality ("junk bonds") and non-rated securities present greater risk of loss than investments in higher-quality securities. Stocks may decline in value. Investing in foreign securities, particularly those of emerging markets, presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Investing in derivatives entails special risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. Leverage results in additional risks and can magnify the effect of any gains or losses. There are special risks associated with an investment in real estate, including REITS. These risks include credit risk, interest rate fluctuations and the impact of varied economic conditions.

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 bought and sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to the net asset value. The price of a fund's shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, a fund cannot predict whether its shares will trade at, below or above net asset value.

Past performance is no guarantee of future results.

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.

Deutsche Asset & Wealth Management represents the asset management and wealth management activities conducted by Deutsche Bank AG or any of its subsidiaries. Clients will be provided Deutsche Asset & Wealth Management products or services by one or more legal entities that will be identified to clients pursuant to the contracts, agreements, offering materials or other documentation relevant to such products or services. (R-32422-19/13)

For additional information:
Deutsche Bank Press Office (212) 250-6853
Shareholder Account Information (800) 294-4366
DWS Closed-End Funds (800) 349-4281

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