[July 11, 2018]

Deutsche Multi-Market Income Trust and Deutsche Strategic Income Trust Announce Additional Details Regarding Their Liquidations

Deutsche Multi-Market Income Trust (NYSE:KMM) and Deutsche Strategic Income Trust (NYSE:KST) (each, a "Fund," and, collectively, the "Funds") announced today that the Board of Trustees has approved a Plan of Liquidation and Termination for each Fund (each a "Plan") related to the previously approved liquidations of the Funds to occur on or before December 31, 2018. As further described below, pursuant to each Plan, a final liquidating distribution is expected to be made on or about November 16, 2018 for each Fund.

Under the terms of each Plan, the "Cessation Date" for each Fund's planned liquidation is expected to occur on or about November 9, 2018. As provided in each Plan, at the close of business on the Cessation Date, each Fund will cease to engage in any business activities, except for the purpose of liquidating and winding up its affairs, and the books of the Fund will be closed. Effective the business day following the Cessation Date, each Fund's shares will not be transferable (except for the settlement of prior transactions), and it is anticipated that trading in each Fund's shares on the New York Stock Exchange will cease. Each Fund will subsequently seek to reduce all remaining portfolio securities to cash or cash equivalents and make a final liquidating distribution to shareholders on or about November 16, 2018. All Fund shareholders as of the close of business on the Cessation Date will be entitled to receive a liquidating distribution. The Cessation Date may be extended if necessary or appropriate in connection with the orderly liquidation of a Fund or to protect the interests of a Fund's shareholders.

KMM and KST have both eliminated their financial leverage facilities by paying back their bank line of credit and terminating their leverage agreements on June 27, 2018 and June 28, 2018, respectively. In addition, prior to the Cessation Date and subject to portfolio management's discretion, each Fund intends to begin the process of converting its portfolio's securities to more liquid investments, including cash or cash equivalents. As each Fund begins to transition its portfolio to more liquid investments, its net investment income may decline, which, in turn, may reduce its remaining regular monthly dividends. Each Fund's last anticipated regular monthly dividend will be for the month of October. The Funds do not expect to pay their regular November monthly dividends. Any net investment income earned in November would consequently be included as part of each Fund's final liquidating distribution to shareholders.

For more information on the Funds, including their most recent month-end performance, visit dws.com or call (800) 349-4281 or 00-800-2287-2750 from outside the US.

Important Information

Deutsche Multi-Market Income Trust Bond investments are subject to interest-rate, credit, liquidity and market risks to varying degrees. 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. 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. Emerging markets tend to be more volatile than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes, and market risks.

Deutsche Strategic Income Trust Bond investments are subject to interest-rate, credit, liquidity and market risks to varying degrees. 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. 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. Emerging markets tend to be more volatile than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. Investing in foreign securities presents certain risks, such as currency fluctuations, political and economic changes, and market risks.

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, the 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.

Certain statements contained in this release may be 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," "intend," 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. Management does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. The following factors, among others, could cause actual results to differ materially from forward-looking statements: (i) the effects of adverse changes in market and economic conditions; (ii) legal and regulatory developments; and (iii) other additional risks and uncertainties.

Nothing contained herein is fiduciary or impartial investment advice that is individualized or directed to any plan, plan participant, or IRA owner regarding the advisability of any investment transaction, including any IRA distribution or rollover.

The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas, Inc. and RREEF America L.L.C. which offer advisory services. (R-058997-1) (07/18)

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