Exhibit 99.23(g)(3) AMENDMENT TO CUSTODIAN CONTRACT Agreement made by and between State Street Bank and Trust Company (the "Custodian") and The Emerging Germany Fund Inc. ("the Fund"). WHEREAS, the Custodian and the Fund are parties to a custodian...

                                                            Exhibit 99.23(g)(3)


                          AMENDMENT TO CUSTODIAN CONTRACT

     Agreement made by and between State Street Bank and Trust Company (the
"Custodian") and The Emerging Germany Fund Inc. ("xxx Xxxx").

     WHEREAS, the Custodian and the Fund are parties to a custodian contract
dated March 26, 1990 and amended on January 13, 1994 (the "Custodian Contract")
governing the terms and conditions under which the Custodian maintains custody
of the securities and other assets of the Fund; and

     WHEREAS, the Custodian and the Fund desire to amend the terms and
conditions under which the Custodian maintains the Fund's securities and other
non-cash property in the custody of certain foreign sub-custodians in conformity
with the requirements of Rule 17f-5 under the Investment Company Act of 1940, as
amended;

     NOW THEREFORE, in consideration of the premises and covenants contained
herein, the Custodian and the Fund hereby amend the Custodian Contract by the
addition of the following terms and provisions;

     1.   Notwithstanding any provisions to the contrary set forth in the
Custodian Contract, the Custodian may hold securities and other non-cash
property for all of its customers, including the Fund, with a foreign
sub-custodian in a single account that is identified as belonging to the
Custodian for the benefit of its customers, PROVIDED HOWEVER, that (i) the
records of the Custodian with respect to securities and other non-cash property
of the Fund which are maintained in such account shall identify by book-entry
those securities and other non-cash property belonging to the Fund and (ii) the
Custodian shall require that securities and other non-cash property so held by
the foreign sub-custodian be held separately from any assets of the foreign
sub-custodian or of others.

     2.   Except as specifically superseded or modified herein, the terms and
provisions of the Custodian Contract shall continue to apply with full force and
effect.

     IN WITNESS WHEREOF, each of the parties has caused this instrument to be
executed as a sealed instrument in its name and behalf by its duly authorized
representative this 15th day of April, 1996

                                   THE EMERGING GERMANY FUND INC.

                                   By: /s/Treasurer

                                   STATE STREET BANK AND TRUST COMPANY

                                   By: /s/Vice President