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 1998
THE CENTRAL EUROPEAN EQUITY, 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
12-1 CEE 5000 12.5625 15.06 Bear Stearns
12-2 " " 5000 12.4375 15.04 " "
12-3 " " 5000 12.3163 15.11 " "
12-4 " " 5000 12.25 15.28 " "
12-7 " " 5400 12.4259 15.53 " "
12-8 " " 5400 12.3218 15.52 " "
12-9 " " 5400 12.375 15.61 " "
12-10 " " 5400 12.50 15.69 " "
12-11 " " 5400 12.4711 15.46 " "
12-15 " " 6400 12.207 15.41 " "
12-17 " " 6400 12.50 15.69 " "
12-18 " " 6400 12.4473 15.77 " "
12-21 " " 7200 12.6589 16.19 " "
12-22 " " 7200 12.934 16.26 " "
12-23 " " 7200 12.8377 16.55 " "
12-24 " " 7200 12.9375 16.50 " "
12-28 " " 6900 13.0652 16.70 " "
12-29 " " 7400 13.136 16.70 " "
12-30 " " 7400 13.125 16.75 " "
12-31 " " 7400 13.2458 16.68 " "
The Central European Equity Fund, Inc.
Name of Registrant
By Laura Weber - Assistant Treasurer
Date of Statement 1/11/99
