The Austria Fund, Inc. Reports Second Quarter Earnings

Apr 12, 2001, 01:00 ET from Austria Fund, Inc.

    NEW YORK, April 12 /PRNewswire/ -- The Austria Fund, Inc. (NYSE:   OST), a
 registered closed-end investment company, today announced earnings for the
 second quarter ended February 28, 2001.
     Total net assets of the Fund on February 28, 2001 were $54,636,539 as
 compared with $55,352,068 on November 30, 2000 and $163,861,425 on February
 29, 2000. On February 28, 2001 the net asset value per share was $8.53 based
 on 6,406,912 shares outstanding.
 
                                February 28,    November 30,  February 29,
                                        2001            2000          2000
 
     Total Net Assets            $54,636,539     $55,352,068  $163,861,425
     NAV Per Share                     $8.53           $8.21        $21.87
     Shares Outstanding            6,406,912       6,743,112     7,491,557
 
     For the period December 1, 2000 through February 28, 2001, total net
 investment loss was ($345,009) or ($0.05) per share. The total net realized
 and unrealized gain was $3,242,847 or $0.51 per share for the same period.
 
 
                                      Second           First        Second
                                     Quarter         Quarter       Quarter
                                       Ended           Ended         Ended
                                February 28,    November 30,  February 29,
                                        2001            2000          2000
 
     Total Net Investment
       Gain (Loss)                ($345,009)      ($417,660)    ($764,066)
     Per Share                       ($0.05)         ($0.06)       ($0.10)
 
     Total Net Realized/
       Unrealized Gain (Loss)     $3,242,847   ($20,576,526)   $81,536,481
     Per Share                         $0.51         ($3.05)        $10.88
 
     The Austria Fund, Inc. is managed by Alliance Capital Management L.P.
 
 

SOURCE Austria Fund, Inc.
    NEW YORK, April 12 /PRNewswire/ -- The Austria Fund, Inc. (NYSE:   OST), a
 registered closed-end investment company, today announced earnings for the
 second quarter ended February 28, 2001.
     Total net assets of the Fund on February 28, 2001 were $54,636,539 as
 compared with $55,352,068 on November 30, 2000 and $163,861,425 on February
 29, 2000. On February 28, 2001 the net asset value per share was $8.53 based
 on 6,406,912 shares outstanding.
 
                                February 28,    November 30,  February 29,
                                        2001            2000          2000
 
     Total Net Assets            $54,636,539     $55,352,068  $163,861,425
     NAV Per Share                     $8.53           $8.21        $21.87
     Shares Outstanding            6,406,912       6,743,112     7,491,557
 
     For the period December 1, 2000 through February 28, 2001, total net
 investment loss was ($345,009) or ($0.05) per share. The total net realized
 and unrealized gain was $3,242,847 or $0.51 per share for the same period.
 
 
                                      Second           First        Second
                                     Quarter         Quarter       Quarter
                                       Ended           Ended         Ended
                                February 28,    November 30,  February 29,
                                        2001            2000          2000
 
     Total Net Investment
       Gain (Loss)                ($345,009)      ($417,660)    ($764,066)
     Per Share                       ($0.05)         ($0.06)       ($0.10)
 
     Total Net Realized/
       Unrealized Gain (Loss)     $3,242,847   ($20,576,526)   $81,536,481
     Per Share                         $0.51         ($3.05)        $10.88
 
     The Austria Fund, Inc. is managed by Alliance Capital Management L.P.
 
 SOURCE  Austria Fund, Inc.