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PRICEWATERHOUSECOOPERS LLP

PRICEWATERHOUSECOOPERS LLP

1177 Avenue of the Americas

New York NY 10036

Telephone (646) 471 8000

Facsimile (646) 471 8910

REPORT OF INDEPENDENT ACCOUNTANTS

To the Board of Directors and Shareholders

of The New Germany Fund, Inc.

In planning and performing our audit of the financial statements of The New

Germany Fund, Inc. (the "Fund") for the year ended December 31, 2001, we

considered its internal control, including control activities for safeguarding

securities, in order to determine our auditing procedures for the purpose of

expressing our opinion on the financial statements and to comply with the

requirements of Form N-SAR, not to provide assurance on internal control.

The management of the Fund is responsible for establishing and maintaining

internal control. In fulfilling this responsibility, estimates and judgments by

management are required to assess the expected benefits and related costs of

controls. Generally, controls that are relevant to an audit pertain to the

entity's objective of preparing financial statements for external purposes that

are fairly presented in conformity with accounting principles generally accepted

in the United States of America. Those controls include the safeguarding of

assets against unauthorized acquisition, use or disposition.

Because of inherent limitations in internal control, errors or fraud may occur

and not be detected. Also, projection of any evaluation of internal control to

future periods is subject to the risk that controls may become inadequate

because of changes in conditions or that the effectiveness of their design and

operation may deteriorate.

Our consideration of internal control would not necessarily disclose all matters

in internal control that might be material weaknesses under standards

established by the American Institute of Certified Public Accountants. A

material weakness is a condition in which the design or operation of one or more

of the internal control components does not reduce to a relatively low level the

risk that misstatements caused by error or fraud in amounts that would be

material in relation to the financial statements being audited may occur and not

be detected within a timely period by employees in the normal course of

performing their assigned functions. However, we noted no matters involving

internal control and its operation, including controls for safeguarding

securities, that we consider to be material weaknesses as defined above as of

December 31, 2001.

This report is intended solely for the information and use of the Board of

Directors, management and the Securities and Exchange Commission and is not

intended to be and should not be used by anyone other than these specified

parties.

PricewaterhouseCoopers LLP

1177 Avenue of the Americas

New York, New York

February 8, 2002