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THE FIRST AUSTRALIA FUND ANNOUNCES DIVIDEND

 THE FIRST AUSTRALIA FUND ANNOUNCES DIVIDEND
 NEW YORK, Dec. 11 /PRNewswire/ -- The First Australia Fund, Inc.


(AMEX: IAF) a closed-end equity fund, today declared a semi-annual dividend of $0.17 per share, payable on Jan. 10, 1992, to all shareholders of record on Dec. 30, 1991.
 The fund's previous dividend, which was paid on July 12, 1991, was $0.14 per share, making total dividends declared for the year of $0.31.
 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 $63 million.
 The First Australia Fund, traded on the American and Pacific stock exchanges, is advised by EquitiLink Australia Limited. EquitiLink's parent company, EquitiLink Limited, is listed on the Australian Stock Exchange. Devoting itself only to the business of fund management, the EquitiLink Group manages over $1.8 billion on behalf of over 240,000 investors worldwide.
 -0- 12/11/91
 /CONTACT: Brian Sherman of The First Australia Fund, 011-612-258-8222, or Marissa Moretti or George Arvantides of Dewe Rogerson, 212-688-6840, for The First Australia Fund/
 (IAF) CO: First Australia Fund, Inc. ST: New York IN: FIN SU: DIV FC-KW -- NY073 -- 1608 12/11/91 16:21 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 11, 1991
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