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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000860489-98-000008.txt : 19980312
<SEC-HEADER>0000860489-98-000008.hdr.sgml : 19980312
ACCESSION NUMBER:		0000860489-98-000008
CONFORMED SUBMISSION TYPE:	N-23C-1
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19980228
FILED AS OF DATE:		19980311
SROS:			NONE

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CENTRAL EUROPEAN EQUITY FUND INC /MD/
		CENTRAL INDEX KEY:			0000860489
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				133556099
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-23C-1
		SEC ACT:		
		SEC FILE NUMBER:	817-00185
		FILM NUMBER:		98563289

	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:	FUTURE GERMANY FUND INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED GERMANY FUND INC
		DATE OF NAME CHANGE:	19900219
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-23C-1
<SEQUENCE>1
<TEXT>

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-23C-1

STATEMENT BY REGISTERED CLOSED-END
INVESTMENT COMPANY WITH RESPECT TO 
PURCHASES OF ITS OWN SECURITIES PURSUANT
TO RULE N-23C-1 DURING THE LAST CALENDAR MONTH

REPORT FOR CALENDAR MONTH   FEVRUARY 1998

THE CENTRAL EUROPEAN EQUITY, INC.
(Name of registered closed-end investment company)

               			    Approx Asset 
Date	           Number   Price   Value or Approx   Seller
Each   Ident    Shares    Per       Asset Cov/Shr     or Seller's
Trans  Sec     Purch      Share  at Time of Purch   Broker      

2-2     CEE    70000     18.137         20.81           Weeden & Co.			
2-3       " "      30000     18.3125       20.96                " "
2-4       " "      56000     18.1808       21.00                " "
2-9       " "      15000     18.333         21.93                " "
2-10     " "      40000     18.375         22.08                " "
2-11     " "      60000     18.625         22.14                " "
2-13     " "        9000     18.5625       21.57                " "
2-17     " "        9000     18.50           21.71                 " "
The Central European Equity Fund, Inc.
 Name of Registrant
By Joseph Cheung - Treasurer
Date of Statement          3/10/98					          

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