SCHEDULE 14A
(RULE 14A-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(A) of the Securities
Exchange Act of 1934 (Amendment No.__ )
Filed by the Registrant [X]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
[ ] Definitive Proxy Statement
[X] Definitive additional materials
[ ] Soliciting material pursuant to Rule 14a-11(c) or Rule 14a-12
THE BRAZIL FUND, INC.
(Name of Registrant as Specified in Its Charter)
(Name of Person(s) Filing Proxy Statement,
if other than the Registrant)
Payment of filing fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
(1) Title of each class of securities to which transaction applies:
(2) Aggregate number of securities to which transaction applies:
(3) Per unit price or other underlying value of transaction computed pursuant to
Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is
calculated and state how it was determined): (4) Proposed maximum aggregate
value of transaction:
(5) Total fee paid:
[ ] Fee paid previously with preliminary materials:
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identity the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number, or
the form or schedule and the date of its filing.
(1) Amount previously paid:
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(4) Date Filed:
[Deutsche Asset Management Logo]
THE BRAZIL FUND, INC. ANNOUNCES ADJOURNMENT OF SPECIAL MEETING
FOR ADDITIONAL SOLICITATION
NEW YORK, NY, December 13, 2005 -- The Brazil Fund, Inc. (NYSE: BZF) today
announced that its special meeting of stockholders, which was convened today,
has been adjourned to January 13, 2006 in order to allow more time for
stockholders to submit proxies with respect to the special meeting proposal to
convert the Fund to an open-end investment company. According to a preliminary
count by the Fund's proxy solicitor, holders of approximately 68% of the Fund's
outstanding shares submitted proxies in favor of converting the Fund to an
open-end investment company. This preliminary count includes proxies submitted
during the meeting. However, all proxies may be revoked or superseded until they
have been exercised at the reconvened special meeting. In order to pass, the
proposal requires the affirmative vote of at least 75% of the Fund's outstanding
shares.
The reconvened special meeting of stockholders of the Fund will be held at 10:00
a.m. on January 13, 2006 at the offices of Deutsche Asset Management, 345 Park
Avenue, New York, New York 10154 for the sole purpose of considering the
open-ending proposal. There will be no change of the record date and holders of
record of the Fund's Common Stock at the close of business on October 21, 2005
remain entitled to vote at the annual meeting of stockholders of the Fund.
# # #
The Brazil Fund, Inc. is a non-diversified, closed-end investment company. The
Fund seeks long-term capital appreciation through investing primarily in equity
securities of Brazilian issuers. Its shares are listed on the New York Stock
Exchange under the symbol "BZF".
There can be no assurance that any action proposed or adopted by the Board will
reduce or eliminate the discount at which the Fund's shares trade. Investments
in funds involve risks. Additional risks are associated with international
investing, such as government regulations and differences in liquidity,
which may increase the volatility of your investment.
Investments in funds involve risks. Additional risks are associated with
international investing, such as government regulations and differences in
liquidity which may increase the volatility of your investment. Foreign security
markets generally exhibit greater price volatility and are less liquid than the
US market. Additionally, this fund focuses its investments in certain
geographical regions, thereby increasing its vulnerability to developments in
that region and potentially subjecting the fund's shares to greater price
volatility.
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 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.
This announcement is not an offer to purchase or the solicitation of an offer to
sell shares of the Fund or a prospectus, circular or representation intended for
use in the purchase or sale of Fund shares. 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.
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NOT FDIC/NCUA INSURED MAY LOSE VALUE NO BANK GUARANTEE
NOT A DEPOSIT NOT INSURED BY ANY FEDERAL
GOVERNMENT AGENCY
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Scudder 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 Asset Management Inc., Deutsche Asset
Management Investment Services Ltd., Deutsche Investment Management Americas
Inc. and Scudder Trust Company. [(12/05 42028)]