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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000860489-04-000001.txt : 20040107
<SEC-HEADER>0000860489-04-000001.hdr.sgml : 20040107
<ACCEPTANCE-DATETIME>20040107153018
ACCESSION NUMBER:		0000860489-04-000001
CONFORMED SUBMISSION TYPE:	N-23C-1
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031231
FILED AS OF DATE:		20040107
EFFECTIVENESS DATE:		20040107

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CENTRAL EUROPE & RUSSIA FUND INC
		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:		04513103

	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:	CENTRAL EUROPEAN EQUITY FUND INC /MD/
		DATE OF NAME CHANGE:	19970429

	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
<FILENAME>n23c1cee1203.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 DECEMBER 2003

        THE CENTRAL EUROPE AND RUSSIA FUND, 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     5000      20.5194      23.26  	   	Weeden & Co
12-02    " "    2000      20.4605      23.03	       	""
12-03    " "    4000      20.5305      23.30	       	""
12-04    " "    5000      20.9380      23.16	       	""
12-05    " "    3100      20.9003      23.23	       	""
12-08    " "    6000      21.3150      23.54	       	""
12-10    " "    1800      21.4394      24.02	       	""
12-11    " "     600      21.4100      23.90	       	""
12-12    " "    2000      21.5555      24.28	       	""
12-15    " "    6000      22.4042      24.46	       	""
12-16    " "    2000      22.4000      24.35	       	""
12-18    " "    1800      22.2417      24.34	       	""
12-19    " "    3100      22.4065      24.57	       	""
12-22    " "    4000      23.0253      24.70	       	""
12-23    " "    3000      22.9760      24.77	       	""



The Central Europe and Russia Fund, Inc.
Name of Registrant
By Isabella Chan - Fund Administrator
Date of Statement          1/2/04





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