November 11, 2008 04:35 PM Eastern Time 

Standard & Poor's Initiates Factual Stock Report Coverage on DWS Strategic Municipal Income Trust

NEW YORK--(BUSINESS WIRE)--Standard & Poor’s announced today that it has commenced Factual Stock Report coverage on DWS Strategic Municipal Income Trust.

DWS Strategic Municipal Income Trust (NYSE:KSM) is a closed-end, diversified management investment company. The fund seeks a high level of current income exempt from federal income tax by investing in a diversified portfolio of investment-grade, tax exempt securities. The fund invests at least 50% of its assets in investment-grade municipal securities or unrated municipal securities of comparable quality, and may invest up to 50% of its assets in high-yield municipal securities that are below investment grade. Although the fund seeks income that is federally tax-free, a portion of the fund's distributions may be subject to federal, state, local and alternative minimum tax. Bond investments are subject to interest-rate risk such that when interest rates rise, the prices of the bonds, and thus the value of the bond fund, can decline and the investor can lose principal value.

Under the investment management agreement with Deutsche Investment Management Americas Inc. (the advisor), an indirect, wholly owned subsidiary of Deutsche Bank AG, the advisor directs the investments of the fund in accordance with its investment objectives, policies and restrictions. The advisor determines the securities, instruments and other contracts relating to investments to be purchased, sold or entered into by the fund. In addition to portfolio management services, the advisor provides certain administrative services in accordance with the investment management agreement. The management fee payable under the agreement is equal to an annual rate of 0.60% of the fund's average weekly net assets, computed and accrued daily and payable monthly.

This report will also be accessible on an ongoing basis to the investment community ---- scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts.

About Standard & Poor's Factual Stock Reports

This Standard & Poor’s service provides factual research coverage enabling information about DWS Strategic Municipal Income Trust and other securities to reach a wide investor audience of Buy and Sell-side investors, helping them understand a company’s fundamentals and business prospects. Currently profiling over 1,000 issuers, S&P Factual Stock Reports increase market awareness for issuers in the investment community with insightful commentary and key statistics/information. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, Industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is sponsored by the issuer, S&P does not offer investment opinions concerning the advisability of investing in these stocks.

Standard & Poor’s Factual Stock Reports are produced separately from any other analytic activity of Standard & Poor’s. Standard & Poor’s Factual Report research has no access to non-public information received by other units of Standard & Poor’s. Standard & Poor’s does not trade on its own account.

Note: All U.S. and Canadian Companies listed on a National Exchange (not covered by S&P’s STARS research) are eligible to obtain this coverage.

About Standard & Poor's

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 23 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.