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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 BpAwtwwr9hYBsFnArxJA5Q==

<SEC-DOCUMENT>0000860489-99-000007.txt : 19990311
<SEC-HEADER>0000860489-99-000007.hdr.sgml : 19990311
ACCESSION NUMBER:		0000860489-99-000007
CONFORMED SUBMISSION TYPE:	N-23C-1
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19990228
FILED AS OF DATE:		19990310

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:		99561940

	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   FEBRUARY 1999

        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      


2-1   CEE       7600     13.8125    17.13         Bear Stearns		
2-2	" "        200     13.7188    16.98         Paine Webber
2-3	" "       7700     13.8198    16.87             " "
2-4	" "       4000     13.7031    16.86             " "
2-5	" "       5700     13.5329    16.72             " "
2-8	" "       5800     13.4957    16.43             " "
2-10	" "       5700     12.9836    16.23         Bear Stearns
2-11	" "       5500     12.9375    16.37         Paine Webber
2-12	" "      12500     13.0625    16.37             " "
2-16	" "       4500     13.1083    16.34         Bear Stearns
2-17	" "       3700     13.0693    16.12             " "
2-18  " "       4000     12.9375    15.98             " "
2-19	" "       1600     12.9375    15.59             " "
2-22	" "      28400     12.7425    15.46         Paine Webber
2-23	" "       1500     12.5208    15.37             " "
2-24	" "       3400     12.625     15.53             " "
2-25	" "       3000     12.4479    15.26             " "
2-26	" "       3200     12.0625    15.02             " "
		
The Central European Equity Fund, Inc.
Name of Registrant
By Laura Weber - Assistant Treasurer
Date of Statement          3/10/99				



	          

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