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 May 31, 2011.

The Fund’s total returns for various periods through May 31, 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   802.2   9.0   850.7   9.3
(December 1985)                
10-years   340.9   16.0   433.3   18.2
5-years   65.0   10.5   65.8   10.6
3-years   4.5   1.5   4.8   1.6
1-year   33.0   39.2
 

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.

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