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

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

PR Newswire

PHILADELPHIA, April 8, 2013

PHILADELPHIA, April 8, 2013 /PRNewswire/ -- Aberdeen Australia Equity Fund,
Inc. (the "Fund") (NYSE MKT: IAF), a closed-end equity fund, announced today
its performance data and portfolio composition as of February 28, 2013.

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The Fund's total returns for various periods through February 28, 2013 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
                862.3      8.7        918.5         8.9
(December 1985)
10-years        305.6      15.0       393.2         17.3
5-years         15.4       2.9        16.7          3.1
3-years         27.5       8.4        31.5          9.6
1-year          15.6                  13.4

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 February 28, 2013, the Fund's net assets amounted to US$239.4 million and
the Fund's NAV per share was $10.61.

As of February 28, 2013, the portfolio was invested as follows:

Portfolio Composition                  Percent of
                                       Net Assets
Financials                            38.0
Materials                             21.5
Consumer Staples                      10.6
Utilities                             7.9
Health Care                           4.9
Energy                                3.7
Consumer Discretionary                3.4
Other Assets in Excess of Liabilities 3.4
Telecommunications                    3.4
Information Technology                3.2

The Fund's ten largest equity holdings as of February 28, 2013, representing
60.5% of total assets, were:

                                           Percent of
                                           Total Assets
BHP Billiton PLC                           9.1
Woolworths Ltd.                            7.1
Australia & New Zealand Banking Group Ltd. 6.7
Commonwealth Bank of Australia             6.7
Rio Tinto PLC                              6.6
QBE Insurance Group Ltd.                   6.4
AMP Ltd.                                   4.6
Westfield Group                            4.6
Westpac Banking Corporation                4.6
ASX Ltd.                                   4.1

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.

Closed-end funds are traded on the secondary market through one of the stock
exchanges. The Fund's investment return and principal value will fluctuate so
that an investor's shares may be worth more or less than the original cost.
Shares of closed-end funds may trade above (a premium) or below (a discount)
the net asset value (NAV) of the fund's portfolio. There is no assurance that
the Fund will achieve its investment objective. Past performance does not
guarantee future results.

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:

SOURCE Aberdeen Australia Equity Fund, Inc.

Website: http://www.aberdeeniaf.com
Contact: Investor Relations, Aberdeen Asset Management Inc., 1-866-839-5205,
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