SOURCE: The Central Europe and Russia Fund, Inc.

October 11, 2006 10:22 ET

REMINDER: The Central Europe and Russia Fund, Inc. Conference Call, Today, Wednesday, October 11, 2006 at 2:00 pm EST

NEW YORK, NY -- (MARKET WIRE) -- October 11, 2006 -- The Central Europe and Russia Fund, Inc. (NYSE: CEE) will hold today, Wednesday, October 11, 2006 at 2:00 pm EST, a conference call to discuss the Fund and the developments in the region in which the fund invests.

The Portfolio Manager of the Fund, Mr. Ralf Oberbannscheidt, will make a presentation and then respond to investor questions.

Time:           2:00 pm EST (US)
                7:00 pm (UK)

Call Numbers:   U.S.A. participants please dial     1866 819 7111
                Outside the US please dial          +44 1452 542 301
                UK participants please dial         0800 953 0329

Chairperson:    Mr. Ralf Oberbannscheidt, Portfolio Manager

Presentation:   A slide presentation will be available prior to the
                conference call which participants can download from the
                website of the Fund at http://www.ceefund.com, or they can
                contact the persons mentioned below and the presentation
                will be e-mailed to them.
For your convenience, a 24hr instant replay facility will be available, following the completion of the conference call, until and including Wednesday, October 18, 2006.
To listen to the replay, please call:

Instant Replay Number   U.S.A.: 1866 247 4222       Access Code:  6589574#
Instant Replay Number   OTHER:  +44 1452 550 000    Access Code:  6589574#
Instant Replay Number   U.K.:   0800 953 1533       Access Code:  6589574#
The Central Europe and Russia Fund, Inc. (NYSE: CEE) is a non-diversified, closed-end investment company. The fund seeks long-term capital appreciation primarily though investment in equity and equity-linked securities of issuers domiciled in Central Europe and Russia.

More information on the Fund can be found at: http://www.ceefund.com

The fund is subject to market risks. The Fund is not diversified and may focus its investments in certain geographic regions, thereby increasing its vulnerability to developments in that region. Investing in foreign securities presents certain unique risks not associated with domestic investments, such as currency fluctuation, political and economic change, and market risks. This may result in greater share price volatility.

Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering, and once issued, shares of closed-end funds are sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to net asset value. The price of the Fund's shares is determined by a number of factors, several of which are beyond the control of the Fund. Therefore, the Fund cannot predict whether its shares will trade at, below or above net asset value.

This announcement is not an offer to purchase or the solicitation of an offer to sell shares of the Fund or a prospectus, circular or representation intended for use in the purchase or sale of Fund shares.

NOT FDIC/NCUA INSURED      MAY LOSE VALUE      NO BANK GUARANTEE

NOT A DEPOSIT      NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

Contact Information

  • For further information please contact:

    The Central Europe and Russia Fund, Inc.
    Jonathan Diorio
    Tel: 212.454.2208
    345 Park Ave, New York, NY 10154
    Email: jonathan.diorio@db.com

    Capital Link
    Nicolas Bornozis
    President
    Tel: 212-661-7566
    New York, USA
    Email: nbornozis@capitallink.com