The Central European Equity Fund, Inc.
cordially invites you
to attend a
Presentation & Reception

Wednesday, March 14th at 5:30 p.m.
Deutsche Bank
31 West 52nd Street
in New York

February 6, 2001

Dear Investment Professional,

The Central European Equity Fund, Inc. is pleased to invite you to attend a presentation and reception at 5:30 p.m. on Wednesday, March 14th at Deutsche Bank, 31 West 52nd Street in New York. Mr. Hanspeter Ackermann, Chief Investment Officer of The Central European Equity Fund will talk about the economic recovery and progress in the Polish, Hungarian and Czech marketplace. He will also discuss a way to participate in this activity through a unique, focused investment vehicle.

The Central European Equity Fund is an investment company seeking capital apprecia-tion primarily through investment in Central and Eastern European equities. Its net assets aggregated over $150 million as of December 31, 2000, and it is the only US-registered fund of its type focusing on this region. Its shares are traded on the New York Stock Exchange (CEE) and it is managed by the Deutsche Bank Group.

LOOKING FOR VALUE AND GROWTH? NOW IS THE TIME TO INVEST IN CENTRAL AND EASTERN EUROPE!

With developed markets highly priced, where should investors go next? Many are now looking at Central and Eastern Europe. Much to the delight of investors, the region is doing well. Furthermore, with P/E Ratios significantly lower than Western Europe, capital flows are positive and foreign investors continue to add to their Central European exposure.

Please join us on March 14th for this exciting event.

Sincerely,