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

PHILADELPHIA, Feb. 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 December 31, 2009.

The Fund's total returns for various periods through December 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
  (December 1985)          684.9          9.0         720.7          9.2
  10-years                 214.4         12.1         309.6         15.1
  5-years                   74.5         11.8          83.7         12.9
  3-years                   22.3          7.0          23.8          7.4
  1-year                           67.1                       84.5



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 December 31, 2009, the Fund's net assets amounted to US$223.8 million and the Fund's NAV per share was $11.63.

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




                                                    Percent of
  Portfolio Composition                             Net Assets
  Consumer Discretionary                                5.8
  Consumer Staples                                      9.7
  Energy                                                4.2
  Finance                                              31.9
  HealthCare                                            3.6
  Industrials                                           4.0
  Information Technology                                1.9
  Materials                                            24.2
  Other                                                 2.1
  Property                                              3.8
  Telecommunications                                    3.7
  Utilities                                             5.1



The Fund's ten largest equity holdings as of December 31, 2009, representing 63.6% of total assets, were:

  Stock                                            Percent of
                                                  Total Assets
  BHP Billiton Limited                                 13.5
  QBE Insurance Group Limited                           8.2
  Rio Tinto Limited                                     7.1
  Westpac Banking Corporation Limited                   7.1
  Commonwealth Bank of Australia Limited                5.3
  Woolworths Limited                                    5.3
  Australia & New Zealand Banking Group Limited         5.0
  Woodside Petroleum Limited                            4.2
  ASX Limited                                           4.1
  Westfield Group Limited                               3.8

  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:  Investor Relations, Aberdeen Asset Management Inc.,

1-866-839-5205, 



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

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