UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 24, 2009



                    THE CENTRAL EUROPE AND RUSSIA FUND, INC.
             (Exact name of Registrant as specified in its charter)


                Maryland                 811-06041              13-3556099
      (State or other jurisdiction  (Commission File Number)  (I.R.S. Employer
             of incorporation)                               Identification No.)

                                 345 Park Avenue
                            New York, New York 10154
               (Address of principal executive offices, zip code)


Registrant's telephone number, including area code:              (212) 454-7190


                                 Not Applicable
         (Former name or former address, if changed since last report.)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

|_|         Written communications pursuant to Rule 425 under the Securities Act
            (17 CFR 230.425)

|_|         Soliciting material pursuant to Rule 14a-12 under the Exchange Act
            (17 CFR 240.14a-12)

|_|         Pre-commencement communications pursuant to Rule 14d-2(b) under the
            Exchange Act (17 CFR 240.14d-2(b))

|_|         Pre-commencement communications pursuant to Rule13e-4(c) under the
            Exchange Act (17 CFR 240.13e-4(c))










SECTION 7 - REGULATION FD DISCLOSURE

Item 7.01 Regulation FD Disclosure.

Update Regarding Repurchases of Common Stock by the Fund

The Central Europe and Russia Fund, Inc. (the "Fund") may purchase at market
prices from time to time shares of its Common Stock in the open market. Between
November 1, 2008 and April 23, 2009 the Fund repurchased 425,600 shares of its
Common Stock, equal to approximately 2.67% of the shares of Common Stock
outstanding on October 31, 2008.











                                    SIGNATURE
                                    ---------


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                     THE CENTRAL EUROPE AND RUSSIA FUND, INC.


Date:    April 24, 2009


                                             By: /s/ Rita Rubin
                                             -----------------------
                                             Rita Rubin
                                             Chief Legal Officer