The Central and Eastern Europe Fund, Inc. Announces Proposal to Change its Concentration Policy at the Annual Meeting of Stockholders and Related Change to the Fund's Benchmark

Apr 22, 2022

The Central and Eastern Europe Fund, Inc. (NYSE: CEE) (the “Fund”) announced today that at the Fund’s Annual Meeting of Stockholders to be held on June 23, 2022, stockholders of the Fund will consider, in addition to the election of Directors and approval of auditors as previously announced, a proposal to eliminate the Fund’s current policy that it will concentrate its investments in the energy industry. If the proposed change to the Fund’s concentration policy is approved, the Fund will not invest 25% or more of its total assets in the securities of issuers in any one industry. The Fund also announced that its Board of Directors approved a change of the benchmark index for the Fund, effective on or about July 1, 2022, from the MSCI Emerging Markets Eastern Europe Index to a custom blend of the MSCI Germany Index, 24% weight, the MSCI Austria Index, 4% weight, MSCI Switzerland Index, 12% weight, and the MSCI Emerging Markets Eastern Europe Index, 60% weight, which change of benchmark index is subject to stockholder approval at the Annual Meeting of Stockholders of the proposal to change the Fund’s concentration policy.

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