Germany Funds
New York, December 14, 2005 -- The Central Europe and Russia Fund, Inc. (CEE) announced today that its Board of Directors declared a distribution of $0.33 per share payable from net investment income, $0.215 per share payable from short-term capital gains and $2.507 per share payable in long-term capital gains for a total distribution of $3.052 payable, in stock (valued at the New York Stock exchange closing price on the payable date) with an option to receive cash.
The record date is December 20, 2005 and the payable date will be December 30, 2005. The shares will trade "ex-dividend" on December 16, 2005.
The Central Europe and Russia Fund, Inc. is a non-diversified, closed-end investment company seeking long term capital appreciation through investment primarily in equity and equity-linked securities of issuers domiciled in Central Europe and Russia. Its shares are listed on the NYSE under the symbol "CEE".
The Fund is non-diversified it can take larger positions in fewer companies, increasing its overall risk profile. Investments in securities of foreign issuers present greater risks including currency fluctuations and changes in political/economic conditions. Foreign securities markets generally exhibit greater price volatility and are less liquid than the US markets. 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 are beyond the control of the Fund. Therefore, the Fund cannot predict the trading price of its shares in relation to net asset value.
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