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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000860489-98-000023.txt : 19981006
<SEC-HEADER>0000860489-98-000023.hdr.sgml : 19981006
ACCESSION NUMBER:		0000860489-98-000023
CONFORMED SUBMISSION TYPE:	N-23C-1
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19980930
FILED AS OF DATE:		19981005
SROS:			NYSE

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:		98720580

	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   SEPTEMBER 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      


9-2     CEE    43200    10.8867         14.57	   Weeden & Co.		
9-3	" "       13200   10.5649         14.21                " "
9-4       " "      13200    10.3485         14.14               " "
9-8       " "        6900    10.6005         15.14               " "
9-9     " "        11700    10.7474         15.05               " "
9-10     " "      11700    10.75             14.43               " "
9-11	" "       11700	10.2837         14.12               " "
9-14	" "         9900	10.8213         14.70               " "
9-15	" "	5700	10.9792         14.55               " "
9-17	" "	7000	10.75             14.06               " "
9-21	" "	9200	10.5564         13.51               " "
9-22	" "	9200	10.9375         13.95               " "
9-23	" "	9200	11.125           14.28               " "
9-24	" "	9200	11.3465         14.77               " "
9-25	" "	9200	11.0625         14.50               " "
9-28	" "	7600	11.375           14.74               " "
9-29	" "	7600	11.375           14.58               " "
9-30	" "	7600	11.3125         14.20               " "

The Central European Equity Fund, Inc.
Name of Registrant
By Joseph Cheung - Treasurer
Date of Statement          10/5/98					          

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