<PAGE>
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 1999
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
12-01 CEE 5200 12.5000 16.56 Weeden & Co
12-02 " " 5200 12.5361 16.57 " "
12-03 " " 5200 12.6875 16.81 " "
12-07 " " 6400 12.8516 17.25 " "
12-09 " " 4000 13.1875 17.77 " "
12-10 " " 6400 13.3457 17.70 " "
12-14 " " 4000 13.3125 17.48 " "
12-15 " " 5300 13.1722 17.38 " "
12-16 " " 7100 13.2975 17.64 " "
12-17 " " 3700 13.2500 17.85 " "
12-20 " " 6400 13.5625 17.99 " "
12-21 " " 6400 13.5527 18.01 " "
12-22 " " 6400 13.5625 18.01 " "
The Central European Equity Fund, Inc.
Name of Registrant
By Isabella Chan - Fund Administrator
Date of Statement 01/03/00
Page 1
<PAGE>
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 1999
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
12-23 CEE 6400 13.8047 18.55 Weeden & Co
12-27 " " 7300 13.8382 18.76 " "
12-28 " " 7300 14.1224 18.75 " "
12-29 " " 7300 14.0257 18.86 " "
12-30 " " 7300 14.0000 18.86 " "
12-31 " " 5000 14.3113 18.91 " "
The Central European Equity Fund, Inc.
Name of Registrant
By Isabella Chan - Fund Administrator
Date of Statement 01/03/00
Page 2
