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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000860489-03-000004.txt : 20030404
<SEC-HEADER>0000860489-03-000004.hdr.sgml : 20030404
<ACCEPTANCE-DATETIME>20030404093037
ACCESSION NUMBER:		0000860489-03-000004
CONFORMED SUBMISSION TYPE:	N-23C-1
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030331
FILED AS OF DATE:		20030404
EFFECTIVENESS DATE:		20030404

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CENTRAL EUROPEAN EQUITY FUND INC /MD/
		CENTRAL INDEX KEY:			0000860489
		IRS NUMBER:				133556099
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-23C-1
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	817-00185
		FILM NUMBER:		03639470

	BUSINESS ADDRESS:	
		STREET 1:		280 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2124741694

	MAIL ADDRESS:	
		STREET 1:		280 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED GERMANY FUND INC
		DATE OF NAME CHANGE:	19900219

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FUTURE GERMANY FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-23C-1
<SEQUENCE>1
<FILENAME>n23c1new0303.txt
<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 2003

           THE NEW GERMANY FUND, INC.
(Name of registered closed-end investment company)

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

03-03    GF      900     3.6400       4.57	       Weeden & Co.
03-04   " "     1000     3.6000       4.55              " "
03-05   " "     1500     3.6000       4.56		  " "
03-06   " "     1000     3.5900       4.52		  " "
03-10   " "     1000     3.6100       4.41              " "
03-11   " "     1200     3.5100       4.40              " "
03-12   " "      800     3.4850       4.31              " "
03-13   " "      700     3.5400       4.38              " "
03-14   " "     1500     3.5300       4.41              " "
03-17   " "     2000     3.6390       4.48              " "
03-18   " "     1000     3.6900       4.55              " "
03-19   " "     1500     3.7000       4.57              " "
03-20   " "      800     3.6088       4.55              " "
03-21   " "      700     3.7300       4.54              " "
03-24   " "     1500     3.6300       4.50              " "
03-25   " "     2000     3.5660       4.55              " "
03-26   " "      800     3.5700       4.59              " "
03-27   " "     1300     3.5300       4.60              " "
03-28   " "     2100     3.5800       4.61              " "
03-31   " "     1500     3.5193       4.61              " "



The New Germany Fund, Inc.
    (Name of Registrant)
By Isabella Chan - Fund Administrator
Date of Statement          04/02/03




</TEXT>
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