The Spain Fund, Inc. Distribution Declaration

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Share Name	Share Symbol	Market	Type
Diversified Healthcare Trust	TG:SNF	Tradegate	Ordinary Share

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.00	0.00%	2.8675	2.8135	2.9085				0.00	13:20:55

The Spain Fund, Inc. Distribution Declaration

20/12/2005 9:06pm

PR Newswire (US)

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NEW YORK, Dec. 20 /PRNewswire-FirstCall/ -- The Spain Fund, Inc. (NYSE: SNF), a closed-end management investment company, declared on this date, December 20, 2005, a quarterly distribution of $0.260 per share of Common Stock, payable on January 6, 2006 to shareholders of record at the close of business on December 30, 2005. Ex-date will be December 28, 2005. The quarterly distribution is in accordance with the Fund's policy of paying a quarterly distribution amounting to at least 2.5% of its net asset value, and constitutes exactly that amount. The Spain Fund, Inc. is managed by Alliance Capital Management L.P. DATASOURCE: The Spain Fund, Inc. CONTACT: Shareholder Contact, The Spain Fund, Inc., +1-800-221-5672 Web site: http://www.alliancecapital.com/