PHILADELPHIA, Nov. 2 /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 September 30, 2009. The Fund's total returns for various periods through September 30, 2009 are provided below. (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net-of-fees): NAV Total Return % Market Price Total Return % Period Cumulative Annualized Cumulative Annualized Since inception 639.0 8.8 692.7 9.1 (December 1985) 10-years 218.4 12.3 303.0 15.0 5-years 96.4 14.5 129.7 18.1 3-years 31.5 9.6 35.4 10.6 1-year 18.4 30.8 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 September 30, 2009, the Fund's net assets amounted to US$214.3 million and the Fund's NAV per share was $11.15. As of September 30, 2009, the portfolio was invested as follows: Portfolio Composition Percent of Net Assets Consumer Discretionary 6.1 Consumer Staples 13.8 Energy 4.4 Finance 28.8 HealthCare 3.0 Industrials 3.9 Information Technology 1.9 Materials 23.1 Other 3.1 Property 4.3 Telecommunications 2.6 Utilities 5.0 The Fund's ten largest equity holdings as of September 30, 2009, representing 64.1% of total assets, were: Stock Percent of Total Assets BHP Billiton Limited 13.4 Rio Tinto Limited 7.4 QBE Insurance Group Limited 7.3 Westpac Banking Corporation Limited 7.0 Australia & New Zealand Banking Group Limited 5.6 Commonwealth Bank of Australia Limited 5.4 Woolworths Limited 5.0 Woodside Petroleum Limited 4.4 Westfield Group Limited 4.4 Lion Nathan Limited 4.2 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 of Aberdeen Asset Management Inc., +1-866-839-5205,

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