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

NEW YORK, March 5 /PRNewswire-FirstCall/ -- Aberdeen Australia EquityFund, Inc. (the "Fund") (Amex: IAF), a closed-end equity fund, announcedtoday its performance data and portfolio composition as of January 31,2008. The Fund's total returns for various periods through January 31, 2008are provided below. (All figures are based on distributions reinvested atthe dividend reinvestment price and are stated net-of-fees):
Period NAV Total Return % Market Price Total Return % Cumulative Annualized Cumulative Annualized Since inception 712.4 9.9 720.7 10.0 (December 1985) 10-years 305.3 15.0 402.5 17.5 5-years 240.0 27.7 287.8 31.1 3-years 82.0 22.1 86.8 23.2 1-year 26.0 22.3 The Fund's returns, which are denominated in U.S. dollars, are affectedby the performance of the U.S. dollar against the Australian dollar. On January 31, 2008, the Fund's net assets amounted to US$297.3 millionand the Fund's NAV per share was $15.50.
As of January 31, 2008, the portfolio was invested as follows: Portfolio Composition Percent of Net Assets Consumer Discretionary 10.1 Consumer Staples 13.7 Energy 4.6 Finance 37.0 HealthCare 1.1 Industrials 4.5 Materials 21.2 Other 1.8 Technology 0.9 Telecommunications 1.5 Utilities 3.6 The Fund's ten largest equity holdings as of January 31, 2008,representing 60.2% of net assets, were:
Stock Percent of Net Assets Net Assets BHP Billiton Limited 9.9 Rio Tinto Limited 8.9 QBE Insurance Group Limited 6.8 Australia & New Zealand Banking Group Limited 6.6 Westpac Banking Corporation Limited 6.5 Commonwealth Bank of Australia 4.7 Woodside Petroleum Limited 4.6 Westfield Group Limited 4.5 Woolworths Limited 3.9 Tabcorp Holdings Limited 3.8 Important Information Aberdeen Asset Management Inc., the Fund's Administrator, has preparedthis report based on information sources believed to be accurate andreliable. However, the figures are unaudited and neither the Fund, theAdministrator, Aberdeen Asset Management Asia Limited (the InvestmentManager), Aberdeen Asset Management Limited (the Investment Adviser), norany other person guarantees their accuracy. Investors should seek their ownprofessional advice and should consider the investment objectives, risks,charges and expenses before acting on this information. Total return figures with distributions reinvested at the dividendreinvestment price are stated net-of-fees and represents past performance.Past performance is not indicative of future results, current performancemay be higher or lower. Inception date December 12, 1985. If you wish to receive this information electronically, please contact:InvestorRelations@aberdeen-asset.com