The First Israel Fund, Inc. Announces Performance Data and Portfolio Composition

PHILADELPHIA, Sept. 2  /PRNewswire-FirstCall/ -- The First Israel Fund, Inc. (the "Fund") (NYSE Amex: ISL), a closed-end equity fund, announced today its performance data and portfolio composition as of July 31, 2009.

The Fund's total returns for various periods through July 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        213.4          7.1         183.2           6.4
  (October 1992)         -----          ---         -----           ---
  -------------
  10-years                83.4          6.3          96.6           7.0
  --------                ----          ---          ----           ---
  5-years                 60.0          9.9          75.0          11.8
  -------                 ----          ---          ----          ----
  3-years                 23.9          7.4          29.6           9.0
  -------                 ----          ---          ----           ---
  1-year                         -3.5                        -1.9
  ------                         ----                        ----




On July 31, 2009, the Fund's net assets amounted to US$61.6 million and the Fund's NAV per share was $14.43.

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


  Portfolio Composition                         Percent of
                                                Net Assets
  ---------------------                         ----------
  Financials                                       37.4
  ----------                                       ----
  Other                                            15.7
  -----                                            ----
  Consumer, Non-Cyclical                           11.2
  ----------------------                           ----
  Industrials                                       9.1
  -----------                                       ---
  Basic Materials                                   8.9
  ---------------                                   ---
  Communications                                    7.0
  --------------                                    ---
  Diversified                                       4.9
  -----------                                       ---
  Technology                                        3.3
  ----------                                        ---
  Consumer, Cyclical                                1.5
  ------------------                                ---
  Energy                                            0.9
  ------                                            ---
  Utilities                                         0.1
  ---------                                         ---



The Fund's ten largest equity holdings as of July 31, 2009, representing 49.2% of net assets, were:

  Stock                                         Percent of
  -----                                         Net Assets
                                                ----------
  Teva Pharmaceutical Industries Ltd.               7.3
  -----------------------------------               ---
  Harel Insurance Investments & Financial
   Services                                         7.2
  ---------------------------------------           ---
  Bank Leumi Le-Israel BM                           6.4
  -----------------------                           ---
  Bezeq The Israeli Telecommunication Corp.
   Ltd.                                             6.0
  -----------------------------------------         ---
  Bank Hapoalim BM                                  5.8
  ----------------                                  ---
  Israel Chemicals Ltd.                             5.5
  ---------------------                             ---
  Shikun & Binui Ltd.                               3.4
  -------------------                               ---
  The Israel Corporation Ltd.                       2.9
  ---------------------------                       ---
  Israel Discount Bank                              2.6
  --------------------                              ---
  Perrigo Co.                                       2.1
  -----------                                       ---

  Important Information


Aberdeen Asset Management Inc. has prepared this report based on information sources believed to be accurate and reliable.  However, the figures are unaudited and neither the Fund, Aberdeen Asset Investment Services Limited (the Investment Manager and 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.  Inception date October 29, 1992.

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

DATASOURCE: The First Israel Fund, Inc.



CONTACT:  Investor Relations of Aberdeen Asset Management Inc.,

[phone], 

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