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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950123-05-014999.txt : 20051220
<SEC-HEADER>0000950123-05-014999.hdr.sgml : 20051220
<ACCEPTANCE-DATETIME>20051220172438
ACCESSION NUMBER:		0000950123-05-014999
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20051220
DATE AS OF CHANGE:		20051220
EFFECTIVENESS DATE:		20051220

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:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-129644
		FILM NUMBER:		051276351

	BUSINESS ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154
		BUSINESS PHONE:		800-437-6269

	MAIL ADDRESS:	
		STREET 1:		345 PARK AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10154

	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>497
<SEQUENCE>1
<FILENAME>y15514fne497.txt
<DESCRIPTION>FORM 497
<TEXT>
<PAGE>
- --------------------------------------------------------------------------------


                 DEUTSCHE ASSET MANAGEMENT (LOGO)


                 THE CENTRAL EUROPE AND RUSSIA FUND, INC.

                 TRANSFERABLE RIGHTS OFFERING FOR COMMON STOCK


                 NYSE SYMBOL "CEE"
                 NYSE RIGHTS SYMBOL "CEE.RT"


                 o RECORD DATE IS DECEMBER 22, 2005
                 o OFFER EXPIRES JANUARY 20, 2006


                 For more information and a prospectus contact:


                 GEORGESON  [LOGO] SHAREHOLDER


                 17 State Street, 10th Floor
                 New York, NY 10004
                 Toll Free: (800) 221-4215
                 Banks and Brokers Call: (212) 440-9800


                 DEALER MANAGER


                 [UBS INVESTMENT BANK LOGO]


                 December 20, 2005

                 Investors should carefully consider the investment objective,
                 risks, and charges and expenses of the Fund before investing.
                 The Fund's prospectus which contains this and other information
                 about the Fund is available by calling the phone number listed
                 above. An investor should carefully read the Fund's prospectus
                 before investing.
- --------------------------------------------------------------------------------
(c) 2005 UBS. The key symbol and UBS are registered and unregistered trademarks
of the UBS Group of Companies around the world. All rights reserved. All other
trademarks are the property of the respective owners in the U.S., securities
underwriting, trading, and brokerage activities and M & A advisory activities
are provided by UBS Securities LLC, a registered broker/dealer that is a wholly
owned subsidiary of UBS AG, a member of the New York Stock Exchange and other
principal exchanges, and a member of SIPC.
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
