The First Australia Prime Income Fund, Inc. Special Board Meeting

Apr 27, 2001, 01:00 ET from Australia Prime Income Fund, Inc.

    NEW YORK, April 27 /PR Newswire Interactive Release/ -- At the Fund's
 Annual Meeting, shareholders are being asked to consider and vote on proposed
 amendments to the Fund's investment objective, policies, and restrictions
 (Proposals 3A, 3B, and 3C).
     At a special meeting of the Board of Directors held on April 26, 2001, the
 Board determined to withdraw from consideration at the Annual Meeting a
 proposal (Proposal 3D) to eliminate the requirement that any subsequent
 changes in the Fund's investment policies be approved by shareholders.  In
 reaching its decision, the Board considered concerns expressed by shareholders
 that shareholders retain their ability to vote on any such subsequent changes
 to the Fund's investment policies.  Accordingly, at the adjourned Annual
 Meeting on May 10, 2001, shareholders will be asked to vote on Proposals 3A,
 3B, and 3C.
     The Board of Directors recommends that shareholders vote in favor of
 Proposals 3A, 3B, and 3C and urges shareholders to sign and mail their proxy
 cards promptly.
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X94465757
 
 

SOURCE Australia Prime Income Fund, Inc.
    NEW YORK, April 27 /PR Newswire Interactive Release/ -- At the Fund's
 Annual Meeting, shareholders are being asked to consider and vote on proposed
 amendments to the Fund's investment objective, policies, and restrictions
 (Proposals 3A, 3B, and 3C).
     At a special meeting of the Board of Directors held on April 26, 2001, the
 Board determined to withdraw from consideration at the Annual Meeting a
 proposal (Proposal 3D) to eliminate the requirement that any subsequent
 changes in the Fund's investment policies be approved by shareholders.  In
 reaching its decision, the Board considered concerns expressed by shareholders
 that shareholders retain their ability to vote on any such subsequent changes
 to the Fund's investment policies.  Accordingly, at the adjourned Annual
 Meeting on May 10, 2001, shareholders will be asked to vote on Proposals 3A,
 3B, and 3C.
     The Board of Directors recommends that shareholders vote in favor of
 Proposals 3A, 3B, and 3C and urges shareholders to sign and mail their proxy
 cards promptly.
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X94465757
 
 SOURCE  Australia Prime Income Fund, Inc.