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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000889812-00-000049.txt : 20000202
<SEC-HEADER>0000889812-00-000049.hdr.sgml : 20000202
ACCESSION NUMBER:		0000889812-00-000049
CONFORMED SUBMISSION TYPE:	N-23C-1
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19991231
FILED AS OF DATE:		20000110

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:		504417

	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
<DESCRIPTION>FORM N-23C-1
<TEXT>


<PAGE>

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 DECEMBER 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


12-01     CEE      5200     12.5000         16.56            Weeden & Co
12-02     " "      5200     12.5361         16.57               " "
12-03     " "      5200     12.6875         16.81               " "
12-07     " "      6400     12.8516         17.25               " "
12-09     " "      4000     13.1875         17.77               " "
12-10     " "      6400     13.3457         17.70               " "
12-14     " "      4000     13.3125         17.48               " "
12-15     " "      5300     13.1722         17.38               " "
12-16     " "      7100     13.2975         17.64               " "
12-17     " "      3700     13.2500         17.85               " "
12-20     " "      6400     13.5625         17.99               " "
12-21     " "      6400     13.5527         18.01               " "
12-22     " "      6400     13.5625         18.01               " "


The Central European Equity Fund, Inc.
Name of Registrant
By Isabella Chan - Fund Administrator
Date of Statement          01/03/00



                                     Page 1

<PAGE>

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 DECEMBER 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

12-23     CEE      6400     13.8047         18.55            Weeden & Co
12-27     " "      7300     13.8382         18.76               " "
12-28     " "      7300     14.1224         18.75               " "
12-29     " "      7300     14.0257         18.86               " "
12-30     " "      7300     14.0000         18.86               " "
12-31     " "      5000     14.3113         18.91               " "


The Central European Equity Fund, Inc.
Name of Registrant
By Isabella Chan - Fund Administrator
Date of Statement          01/03/00




                                     Page 2


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