The Austria Fund, Inc. Annual Stockholders Meeting Adjourned to April 26, 2001

    NEW YORK, April 12 /PRNewswire/ -- The Austria Fund, Inc. (the "Fund";
 (NYSE:   OST) announced today that its Annual Meeting of Stockholders was
 convened as scheduled on April 12, 2001, but was adjourned without conducting
 any business because of the lack of a quorum.  The meeting will be reconvened
 on Thursday, April 26, 2001, at the offices of the Fund, 1345 Avenue of the
 Americas, 33rd Floor, New York, New York at 11:00 a.m.  Only stockholders of
 record on February 5, 2001 will be entitled to vote at the reconvened meeting
 on April 26, 2001.
     The Fund is a closed-end U.S.-registered management investment company
 advised by Alliance Capital Management L.P. with total net assets of
 approximately $47 million.
 
 

SOURCE  The Austria Fund, Inc.

    NEW YORK, April 12 /PRNewswire/ -- The Austria Fund, Inc. (the "Fund";
 (NYSE:   OST) announced today that its Annual Meeting of Stockholders was
 convened as scheduled on April 12, 2001, but was adjourned without conducting
 any business because of the lack of a quorum.  The meeting will be reconvened
 on Thursday, April 26, 2001, at the offices of the Fund, 1345 Avenue of the
 Americas, 33rd Floor, New York, New York at 11:00 a.m.  Only stockholders of
 record on February 5, 2001 will be entitled to vote at the reconvened meeting
 on April 26, 2001.
     The Fund is a closed-end U.S.-registered management investment company
 advised by Alliance Capital Management L.P. with total net assets of
 approximately $47 million.
 
 SOURCE  The Austria Fund, Inc.