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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 aPVl5rQzRu7Har02zFNj/A==

<SEC-DOCUMENT>0000860489-99-000009.txt : 19990413
<SEC-HEADER>0000860489-99-000009.hdr.sgml : 19990413
ACCESSION NUMBER:		0000860489-99-000009
CONFORMED SUBMISSION TYPE:	N-23C-1
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19990331
FILED AS OF DATE:		19990412

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:		99591692

	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   MARCH 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      


3-1   CEE       3500     12.2071    14.85         Paine Webber		
3-2	" "       3000     12.125     14.74             " "
3-3	" "       3000     11.875     14.51             " "
3-4	" "      13500     11.50      14.31         Weeden & Co.
3-5	" "       3500     11.6518    14.65             " "
3-9	" "       3900     11.8109    15.20             " "
3-10	" "       3000     12.0188    15.31             " "
3-12	" "       2000     12.625     15.61             " "
3-15	" "       4600     12.322     15.64             " "
3-16	" "       4600     12.375     15.62             " "
3-17	" "       4000     12.3813    15.58             " "
3-18  " "       4600     12.25      15.40         Paine Webber
3-19	" "       4000     12.3125    15.57             " "
3-22	" "      24000     12.2786    15.44             " "
3-23	" "       5000     12.1263    15.11             " "
3-24	" "       3500     11.875     14.79             " "
3-25	" "       4000     12.3281    15.03             " "
3-26	" "      15000     11.865     14.74             " "
3-29	" "       4800     11.8125    14.74             " "
3-31	" "       4000     11.8875    15.03             " "
		
The Central European Equity Fund, Inc.
Name of Registrant
By Laura Weber - Assistant Treasurer
Date of Statement          4/12/99				



	          

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