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 the termination of each Fund, pursuant to which each Fund will make a liquidating distribution to shareholders no later than December 31, 2018. Each Fund also announced that the annual shareholder meeting previously called for September 30, 2016 would be held for the purpose of considering: (i) the election of Trustees; and (ii) a proposal submitted by a shareholder requesting that the Board take the necessary steps to declassify Board. Details of the proposals will be set forth in the proxy statement for each Fund’s 2016 annual shareholders’ meeting.

FOR MORE INFORMATION: The foregoing is not a solicitation of any proxy. For more information regarding each Fund, or to receive a free copy of certain materials filed with the SEC (including the proxy statement relating to the 2016 annual meeting of shareholders once it is filed with the SEC), please visit www.deutschefunds.com. Free copies of such materials can also be found on the SEC's Website www.sec.gov. Please read the proxy statement carefully when it is available because it will contain important information regarding an investment in the Funds.

Each Fund, its directors, executive officers and other members of management may be deemed to be participants in any future solicitation of the Fund's security holders in connection with its 2016 annual meeting of shareholders. Shareholders may obtain information regarding the names, affiliations and interests of such individuals in each Fund's Certified Shareholder Report on Form N-CSR for the year ended November 30, 2015 and its proxy statement for the 2016 annual meeting of stockholders when it becomes available.

Important Information

Deutsche Multi-Market Income Trust seeks to provide high income consistent with prudent total return. The fund invests in a range of income-producing securities such as U.S. corporate fixed-income securities and debt obligations of foreign governments, their agencies and instrumentalities which may be denominated in foreign currencies and may not be rated. 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. Investing in foreign securities, particularly those of emerging markets, presents certain risks, such as currency fluctuations, political and economic changes, and market risks.

Deutsche Strategic Income Trust seeks to provide high current income by investing its assets in a combination of (a) lower-rated, corporate fixed-income securities; (b) fixed-income securities of emerging markets and other foreign issuers; and (c) fixed-income securities of the US government and its agencies and instrumentalities, and mortgage-backed issuers. 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. Investing in foreign securities, particularly those of emerging markets, 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, 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.

NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO BANK GUARANTEE NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

Deutsche Asset Management represents the asset management activities conducted by Deutsche Bank AG or any of its subsidiaries. Clients will be provided Deutsche Asset 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-047318-1) (7/16)

For additional information:Deutsche Bank Press Office (212) 250-7171Shareholder Account Information (800) 294-4366Deutsche Closed-End Funds (800) 349-4281

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