<DOCUMENT>
<TYPE>EX-99.2.99
<SEQUENCE>5
<FILENAME>y93068exv99w2w99.txt
<DESCRIPTION>POWER OF ATTORNEY
<TEXT>
<PAGE>
                                                                         Exhibit

                                POWER OF ATTORNEY


                  The undersigned Directors and officers of The Central Europe
and Russia Fund, Inc., a Maryland corporation (the "Fund"), each does hereby
appoint Richard T. Hale and Bruce A. Rosenblum, or either of them, as his
attorney-in-fact to execute and to file with the Securities and Exchange
Commission a Registration Statement on Form N-2 under the Securities Act of 1933
and the Investment Company Act of 1940 relating to the registration of the
Fund's securities, any and all amendments to such Registration Statement, and to
execute and file such other documents necessary or appropriate in connection
with such Registration Statement.

                  In witness whereof, the undersigned has duly executed this
power of attorney as of the 31st day of October, 2003.



                                                 /s/ Christian H. Strenger
-------------------------------------       ------------------------------------
Detlef Bierbaum, Director                   Christian H. Strenger, Chairman of
                                             the Board and Director



           /s/ John Bult                         /s/ Robert H. Wadsworth
-------------------------------------       ------------------------------------
John Bult, Director                         Robert H. Wadsworth, Director



                                                   /s/ Werner Walbrol
-------------------------------------       ------------------------------------
Richard R. Burt, Director                   Werner Walbrol, Director



      /s/ Fred H. Langhammer
-------------------------------------       ------------------------------------
Fred H. Langhammer, Director                Eggert Voscherau, Director



     /s/ Edward C. Schmults
-------------------------------------       ------------------------------------
Edward C. Schmults, Director                Charles A. Rizzo, Treasurer and
                                             Chief Financial Officer
                                             (Principal Financial and
                                              Accounting Officer)



       /s/ Richard T. Hale
-------------------------------------
Richard T. Hale, President and Chief
 Executive Officer


<PAGE>



                                                                         Exhibit

                                POWER OF ATTORNEY


                  The undersigned Directors and officers of The Central Europe
and Russia Fund, Inc., a Maryland corporation (the "Fund"), each does hereby
appoint Richard T. Hale and Bruce A. Rosenblum, or either of them, as his
attorney-in-fact to execute and to file with the Securities and Exchange
Commission a Registration Statement on Form N-2 under the Securities Act of 1933
and the Investment Company Act of 1940 relating to the registration of the
Fund's securities, any and all amendments to such Registration Statement, and to
execute and file such other documents necessary or appropriate in connection
with such Registration Statement.

                  In witness whereof, the undersigned has duly executed this
power of attorney as of the 16th day of December, 2003.




-------------------------------------       ------------------------------------
Detlef Bierbaum, Director                   Christian H. Strenger, Chairman of
                                             the Board and Director



-------------------------------------       ------------------------------------
John Bult, Director                         Robert H. Wadsworth, Director




-------------------------------------       ------------------------------------
Richard R. Burt, Director                   Werner Walbrol, Director




-------------------------------------       ------------------------------------
Fred H. Langhammer, Director                Eggert Voscherau, Director




                                                 /s/ Charles A. Rizzo
-------------------------------------       ------------------------------------
Edward C. Schmults, Director                Charles A. Rizzo, Treasurer and
                                             Chief Financial Officer
                                             (Principal Financial and
                                              Accounting Officer)




-------------------------------------
Richard T. Hale, President and Chief
 Executive Officer


</TEXT>
</DOCUMENT>
