<PAGE> PAGE 1
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000 C000000 0000857690
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<PAGE> PAGE 2
012 C010001 BOSTON
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013 A000001 COOPERS & LYBRAND L.L.P.
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013 B020001 MA
013 B030001 02109
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014 A000002 KEMPER DISTRIBUTORS, INC.
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014 A000003 GRUNTAL SECURITIES, INC.
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014 A000004 THE GMS GROUP, INC.
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014 A000005 ZURICH CAPITAL MARKETS
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<PAGE> PAGE 3
015 A000007 ALLIED IRISH BANKS PLC
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015 D010007 IRELAND
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015 A000008 BANCO ESPIRITO SANTO E COMMERCIAL DE LISBOA
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015 A000013 SWISS BANK CORPORATION
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015 C010013 ZURICH
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015 A000014 BANQUE PARIBAS
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015 D010014 FRANCE
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015 C010015 FRANKFURT
015 D010015 GERMANY
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015 A000016 LLOYDS BANK PLC
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015 A000017 CITIBANK POLAND S.A.
<PAGE> PAGE 4
015 B000017 S
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015 A000018 CITIBANK, N.A. ISTANBUL
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<PAGE> PAGE 5
020 A000005 ALPHA BROKERAGE AE
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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SIGNATURE THOMAS F. MCDONOUGH
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the New
Europe Annual Report for the fiscal year ended 4/30/98 and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<SERIES> 1
<NAME> Scudder New Europe Fund, Inc.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> NOV-01-1997
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 194,398,523
<INVESTMENTS-AT-VALUE> 378,580,789
<RECEIVABLES> 14,009,528
<ASSETS-OTHER> 78,609
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 392,668,926
<PAYABLE-FOR-SECURITIES> 1,700,908
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 539,351
<TOTAL-LIABILITIES> 2,240,259
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 180,933,056
<SHARES-COMMON-STOCK> 16,124,566
<SHARES-COMMON-PRIOR> 16,049,224
<ACCUMULATED-NII-CURRENT> (2,662,334)
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<NET-ASSETS> 390,428,667
<DIVIDEND-INCOME> 1,318,688
<INTEREST-INCOME> 448,726
<OTHER-INCOME> 0
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<REALIZED-GAINS-CURRENT> 28,135,212
<APPREC-INCREASE-CURRENT> 76,750,721
<NET-CHANGE-FROM-OPS> 104,230,662
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,444,424)
<DISTRIBUTIONS-OF-GAINS> (33,783,456)
<DISTRIBUTIONS-OTHER> 0
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<SHARES-REINVESTED> 75,342
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</TABLE>
