Aberdeen Australia Equity Fund, Inc. Announces Performance Data and Portfolio Composition

PHILADELPHIA, Dec. 4  /PRNewswire-FirstCall/ -- Aberdeen Australia Equity Fund, Inc. (the "Fund") (NYSE AMEX: IAF), a closed-end equity fund, announced today its performance data and portfolio composition as of October 31, 2009.

The Fund's total returns for various periods through October 31, 2009 are provided below.  (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net-of-fees):

  Period                NAV Total Return %      Market Price Total Return %
                     Cumulative   Annualized    Cumulative       Annualized
  Since inception       626.4          8.7         655.6              8.8
  (December 1985)
  10-years              223.3         12.5         269.1             14.0
  5-years                82.0         12.7          96.5             14.5
  3-years                19.6          6.1          17.7              5.6
  1-year                        48.9                         50.8



The Fund's returns, which are denominated in U.S. dollars, are affected by the performance of the U.S. dollar against the Australian dollar.

On October 31, 2009, the Fund's net assets amounted to US$210.9 million and the Fund's NAV per share was $10.96.

  As of October 31, 2009, the portfolio was invested as follows:




  Portfolio Composition               Percent of
                                      Net Assets
  Consumer Discretionary                      6.0
  Consumer Staples                           10.5
  Energy                                      4.0
  Finance                                    30.3
  HealthCare                                  3.5
  Industrials                                 4.0
  Information Technology                      1.9
  Materials                                  22.7
  Other                                       4.3
  Property                                    3.9
  Telecommunications                          3.6
  Utilities                                   5.3







The Fund's ten largest equity holdings as of October 31, 2009, representing 64.3% of total assets, were:

  Stock                                             Percent of
                                                   Total Assets
  BHP Billiton Limited                                     13.2
  QBE Insurance Group Limited                               7.9
  Westpac Banking Corporation Limited                       7.4
  Rio Tinto Limited                                         7.1
  Woolworths Limited                                        5.8
  Commonwealth Bank of Australia Limited                    5.4
  Australia & New Zealand Banking Group Limited             5.1
  Woodside Petroleum Limited                                4.2
  ASX Limited                                               4.1
  Westfield Group Limited                                   4.1





  Important Information


Aberdeen Asset Management Inc., the Fund's Administrator, has prepared this report based on information sources believed to be accurate and reliable. However, the figures are unaudited and neither the Fund, the Administrator, Aberdeen Asset Management Asia Limited (the Investment Manager), Aberdeen Asset Management Limited (the Investment Adviser), nor any other person guarantees their accuracy.  Investors should seek their own professional advice and should consider the investment objectives, risks, charges and expenses before acting on this information. Aberdeen is a U.S. registered service mark of Aberdeen Asset Management PLC.

Total return figures with distributions reinvested at the dividend reinvestment price are stated net-of-fees and represents past performance.  Past performance is not indicative of future results, current performance may be higher or lower.  Holdings are subject to change and are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities shown.  Inception date December 12, 1985.

If you wish to receive this information electronically, please contact:  

DATASOURCE: Aberdeen Australia Equity Fund, Inc.



CONTACT:  Aberdeen Asset Management Inc., Investor Relations,

[phone], 



Web Site:  http://www.aberdeen-asset.com/ 

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