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

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 June 30, 2011.

The Fund’s total returns for various periods through June 30, 2011 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)
  797.4   9.0   859.5   9.3
10-years   323.8   15.6   397.4   17.4
5-years   65.3   10.6   67.0   10.8
3-years   10.8   3.5   12.4   4.0
1-year   38.1   44.8

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 June 30, 2011, the Fund’s net assets amounted to US$254.6 million and the Fund’s NAV per share was $11.56. As of June 30, 2011, the portfolio was invested as follows:
Portfolio Composition   Percent of Net Assets
Consumer Discretionary   6.0
Consumer Staples   10.8
Energy   2.9
Financials   30.7
Health Care   1.6
Industrials   2.7
Information Technology   3.0
Materials   24.6
Other Assets in Excess of Liabilities   0.9
Property Trusts   5.2
Telecommunications   3.8
Utilities   7.8

The Fund's ten largest equity holdings as of June 30, 2011, representing 62.2% of total assets, were:
Stock   Percent of

Total Assets
BHP Billiton Limited   11.1
QBE Insurance Group Limited   7.6
Woolworths Limited   7.1
Commonwealth Bank of Australia Limited   6.8
Rio Tinto Limited   6.4
Australia & New Zealand Banking Group Limited   6.1
AGL Energy Limited   4.8
Westpac Banking Corporation Limited   4.6
Westfield Group   4.0
Singapore Telecommunications Limited   3.7

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.

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