Mr. Hanspeter Ackermann
Chief Investment Officer
The Central Europe and Russia Fund, Inc.

Mr. Ackermann is President of Deutsche Bank Investment Management Inc. (DBIMI) and Chief Investment Officer of the "Germany Funds" (NYSE symbol: GER, GF and CEE). He was also the Chief Investment Officer of Deutsche Bank Private Banking, New York and the Head of the Investment Management Department of Deutsche Bank Securities Inc. before the merger with Bankers Trust. Mr. Ackermann joined Deutsche Bank Securities in April 1996.

Previously, Mr. Ackermann was President and Managing Partner of Eiger Asset Management from September 1993 through March 1996. From March 1983 to March 1993, Mr. Ackermann was employed at Swiss Bank Corp. Portfolio Management International Inc. (SBC-PMI) as a Managing Director and Chief Investment Officer. Prior to SBC-PMI, Mr Ackermann was employed by Swiss Bank Corporation in Basel as a Portfolio Manager, and was with Banque de I' Indochine et Suez in Paris as an investment counselor in foreign exchange and investments. Mr. Ackermann is a graduate of the Commercial School of Swiss Association for Business Administration and was educated in Switzerland. Mr Ackermann is a Chartered Financial Analyst.