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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001029869-99-000176.txt : 19990215
<SEC-HEADER>0001029869-99-000176.hdr.sgml : 19990215
ACCESSION NUMBER:		0001029869-99-000176
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19990212

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEW GERMANY FUND INC
		CENTRAL INDEX KEY:			0000858706
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				133555471
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		
		SEC FILE NUMBER:	005-49307
		FILM NUMBER:		99533633

	BUSINESS ADDRESS:	
		STREET 1:		31 WEST 52ND ST
		STREET 2:		C/O DEUTSCHE BANK CAPITAL CORP
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2124747000

	MAIL ADDRESS:	
		STREET 1:		31 WEST 52ND STREET
		STREET 2:		C/O DEUTSCHE BANK CAPITAL CORP
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LENOX FUND INC
		DATE OF NAME CHANGE:	19900115

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PRESIDENT & FELLOWS OF HARVARD COLLEGE
		CENTRAL INDEX KEY:			0000315016
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				042103580
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		C/O HARVARD MANAGEMENT COMPANY INC
		STREET 2:		600 ATLANTIC AVENUE
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02210
		BUSINESS PHONE:		6175234400
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<DESCRIPTION>SCHEDULE 13G/A
<TEXT>



                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                   -----------

                                  SCHEDULE 13G
                                 (Rule 13d-102)

             INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
          TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED
                            PURSUANT TO RULE 13d-2(b)

                              (Amendment No. 2)(1)

                           The New Germany Fund, Inc.
             -------------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
             -------------------------------------------------------
                         (Title of Class of Securities)

                                    644465106
             -------------------------------------------------------
                                 (CUSIP Number)

                                December 31, 1998
             -------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

                  [X]  Rule 13d-1(b)
                  [ ]  Rule 13d-1(c)
                  [ ]  Rule 13d-1(d)


- --------

     (1)The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.

     The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).

                                Page 1 of 4 Pages


<PAGE>


- ----------------------------------                   ---------------------------
| CUSIP NO.  644465106           |        13G       |   Page  2   of  4  Pages |
|           -----------          |                  |        ---     ---       |
- ----------------------------------                   ---------------------------

|--------|---------------------------------------------------------------------|
|   1    |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |     President and Fellows of Harvard College                        |
|--------|---------------------------------------------------------------------|
|   2    |  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*         (a) [ ]  |
|        |                                                            (b) [ ]  |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   3    |  SEC USE ONLY                                                       |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|   4    |  CITIZENSHIP OR PLACE OF ORGANIZATION                               |
|        |                                                                     |
|        |     Massachusetts                                                   |
|-----------------|--------|---------------------------------------------------|
|                 |   5    |  SOLE VOTING POWER                                |
|                 |        |     796,254 shares                                |
|     NUMBER OF   |--------|---------------------------------------------------|
|      SHARES     |   6    |  SHARED VOTING POWER                              |
|   BENEFICIALLY  |        |     ----                                          |
|     OWNED BY    |--------|---------------------------------------------------|
|       EACH      |   7    |  SOLE DISPOSITIVE POWER                           |
|    REPORTING    |        |     796,254 shares                                |
|      PERSON     |--------|---------------------------------------------------|
|       WITH      |   8    |  SHARED DISPOSITIVE POWER                         |
|                 |        |     ----                                          |
|------------------------------------------------------------------------------|
|   9    |  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON       |
|        |                                                                     |
|        |     796,254 shares                                                  |
|--------|---------------------------------------------------------------------|
|  10    |  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN  [ ] |
|        |  SHARES*                                                            |
|        |                                                                     |
|--------|---------------------------------------------------------------------|
|  11    |  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                  |
|        |     5.6%                                                            |
|--------|---------------------------------------------------------------------|
|  12    |  TYPE OF REPORTING PERSON*                                          |
|        |     EP                                                              |
- --------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                                Page 2 of 4 Pages
<PAGE>

                                  SCHEDULE 13G


Item 1(a)  Name of Issuer:
               The New Germany Fund, Inc.

     1(b)  Address of Issuer's Principal Executive Offices:
               31 West 52nd Street
               New York, NY  10019

Item 2(a)  Name of Person Filing:
               President and Fellows of Harvard College

     2(b)  Address of Principal Business Office or, if none, Residence:
               c/o Harvard Management Company, Inc.
                   600 Atlantic Avenue
                   Boston, MA  02210

     2(c)  Citizenship:
               Massachusetts

     2(d)  Title of Class of Securities:
               Common Stock

     2(e)  CUSIP Number:
               644465106

Item 3     The reporting person is an employee benefit plan or endowment
           fund in accordance with Rule 13d-1(b)(1)(ii)(F).

Item 4     Ownership:

     4(a)  Amount beneficially owned:
               796,254 shares

     4(b)  Percent of Class:
               5.6%

     4(c)  Number of shares as to which such person has:

           (i)   sole power to vote or to direct the vote:
                 796,254 shares


                                Page 3 of 4 Pages

<PAGE>

           (ii)  shared power to vote or to direct the vote:
                 ---------

           (iii) sole power to dispose or to direct the disposition of:
                 796,254 shares

           (iv)  shared power to dispose or to direct the disposition of:
                 --------

Item 5     Ownership of Five Percent or Less of a Class:
               Not Applicable.

Item 6     Ownership of More than Five Percent on Behalf of Another Person:
               Not Applicable.

Item 7     Identification and Classification of the Subsidiary which
           Acquired the Security Being Reported on by the Parent Holding
           Company:
               Not Applicable.

Item 8     Identification and Classification of Members of the Group:
               Not Applicable.

Item 9     Notice of Dissolution of Group:
               Not Applicable.

Item 10    Certification:

               By signing below the undersigned certifies that, to the best of
               its knowledge and belief, the securities referred to above were
               acquired and are held in the ordinary course of business and were
               not acquired and are not held for the purpose of or with the
               effect of changing or influencing the control of the issuer of
               the securities and were not acquired and are not held in
               connection with or as a participant in any transaction having
               that purpose or effect.

After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.

                                     PRESIDENT AND FELLOWS OF HARVARD COLLEGE


                                      By: /s/ Michael S. Pradko
                                              -------------------------
                                          Name:  Michael S. Pradko
                                          Title: Authorized Signatory

February 12, 1999

                                Page 4 of 4 Pages


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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