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

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

PR Newswire

PHILADELPHIA, Aug. 2, 2013

PHILADELPHIA, Aug.2, 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 June 30, 2013.

(Logo: http://photos.prnewswire.com/prnh/20121106/NE07292LOGO)

The Fund's total returns for various periods through June 30, 2013 are
provided below. (All figures are based on distributions reinvested at the
dividend reinvestment price and are stated net-of-fees):

           Cumulative as of         Annualized as of 06/30/13
           1 Month  3 Month  YTD    1 Year 3 Years 5      10      Since
                                                   Years  Years   Inception
NAV        -7.9     -15.7    -11.9  1.1    7.6     0.0    11.1    7.9
Market     -0.4     -12.5    -3.0   6.6    11.5    1.5    14.1    8.4
S&P/ASX    -6.7     -14.4    -7.0   9.6    11.5    2.0    12.8    11.4

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 June 30, 2013, the Fund's net assets amounted to US$191.9 million and the
Fund's NAV per share was $8.50.

As of June 30, 2013, the portfolio was invested as follows:

Portfolio Composition                  Percent of
                                       Net Assets
Financials                            37.2
Materials                             23.5
Consumer Staples                      9.1
Utilities                             8.4
Health Care                           6.2
Energy                                5.3
Telecommunications                    3.7
Information Technology                3.4
Consumer Discretionary                2.9
Other Assets in Excess of Liabilities 0.3

The Fund's ten largest equity holdings as of June 30, 2013, representing 60.4%
of total assets, were:

                                           Percent of
                                           Total Assets
BHP Billiton PLC                           10.8
Rio Tinto PLC                              7.3
Australia & New Zealand Banking Group Ltd. 6.7
Commonwealth Bank of Australia             6.7
QBE Insurance Group Ltd.                   6.1
Woolworths Ltd.                            5.3
Westfield Group                            4.9
SP AusNet                                  4.4
AMP Ltd.                                   4.1
Westpac Banking Corporation                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.

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: Aberdeen Asset Management Inc., Investor Relations, 866-839-5205,
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