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THE FIRST AUSTRALIA FUND, INC. ANNOUNCES DIVIDEND

 NEW YORK, June 10 /PRNewswire/ -- The First Australia Fund, Inc. (AMEX: IAF), a closed-end equity fund, today declared a semi-annual dividend of $0.07 per share, payable on July 16, 1993, to all shareholders of record on June 30, 1993.
 The fund's previous dividend, which was paid on Jan. 15, 1993, was $0.093 per share. The total dividends declared over the past 12 months is $0.163.
 The First Australia Fund, at the time of its offering in December 1985, was the first closed-end fund to invest solely in Australian securities. The fund invests primarily in equity securities of Australia and has net assets in excess of US$60 million.
 The First Australia Fund, traded on the American Stock Exchange and the Pacific Stock Exchange, is advised by EquitiLink Australia Limited and managed by EquitiLink International Management Limited. The EquitiLink Group, which manages over US$2 billion in assets, continues to be leader in the funds management business.
 -0- 6/10/93
 /CONTACT: Brian Sherman of The First Australia Fund, Inc., 011-612-258-8222, or Marissa Moretti of Doug Myers of Dewe Rogerson, 212-688-6840, for The First Australia Fund, Inc./
 (IAF)


CO: The First Australia Fund, Inc. ST: IN: FIN SU: DIV

LR-SH -- NY067 -- 0729 06/10/93 15:01 EST
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Publication:PR Newswire
Date:Jun 10, 1993
Words:210
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