The Central Europe and Russia Fund, Inc. is a non-diversified, closed-end investment company seeking capital appreciation primarily through investment in Central European and Russian equities. Its benchmark is comprised of 45% CECE (Central Europe), 45% RTX (Russia), and 10% ISE National 30 (Turkey) effective April 1, 2004. Its net assets aggregated $333.5 million as of March 31, 2005.