The Ibero-America Fund Releases Monthly Portfolio Update

NEW YORK, Jan. 26 /PRNewswire-FirstCall/ -- The Ibero-America Fund, Inc. (NYSE: SNF) (the "Fund") today released its monthly portfolio update as of December 31, 2009.

    Top 10 Equity Holdings
                                            Portfolio %    Sector
        1)Telefonica SA                          21.45%  Telecommunication
                                                           Services
        2)Banco Santander Central Hispano SA     14.63%  Financials
        3)Banco Bilbao Vizcaya Argentaria SA      7.80%  Financials
        4)Iberdrola SA                            4.93%   Utilities
        5)Repsol YPR SA                           4.86%      Energy
        6)Enagas                                  3.75%   Utilities
        7)Inditex SA                              3.63%    Consumer
                                                         Discretionary
        8)America Movil SAB de CV Series L        3.03%  Telecommunication
                                                            Services
        9)Abertis Infraestructuras S              2.63%  Industrials
       10)Ebro Puleva SA                          2.62%     Consumer
                                                             Staples


    Sector/Industry Breakdown

                                                          Portfolio %
         Financials:
             Commercial Banks                                  24.73%
             Diversified Financial Services                     5.55%
             Insurance                                          2.35%
             Consumer Finance                                   0.95%
             SUBTOTAL                                          33.58%
         Telecommunication Services:
             Diversified Telecommunication Services            21.45%
             Wireless Telecommunication Services                3.03%
             SUBTOTAL                                          24.48%
         Utilities:
             Electric Utilities                                 5.66%
             Gas Utilities                                      4.80%
             Independent Power Producers & Energy               1.50%
             Traders
             SUBTOTAL                                          11.96%
         Industrials:
             Construction & Engineering                         5.20%
             Transportation Infrastructure                      2.63%
             Commercial Services & Supplies                     1.88%
             Electrical Equipment                               1.16%
             Airlines                                           0.46%
             Machinery                                          0.43%
             SUBTOTAL                                          11.76%
         Energy:
             Oil, Gas & Consumable Fuels                        4.86%
             Energy Equipment & Services                        1.76%
             SUBTOTAL                                           6.62%
         Consumer Discretionary:
             Specialty Retail                                   3.63%
             Household Durables                                 0.51%
             Hotels, Restaurants & Leisure                      0.47%
             SUBTOTAL                                           4.61%
         Information Technology:
             IT Services                                        2.60%
             Communications Equipment                           0.79%
             SUBTOTAL                                           3.39%
         Consumer Staples:
             Food Products                                      2.62%
         Materials:
             Metals & Mining                                    0.85%
         Short-Term Investments                                 0.13%
         Total                                                100.00%


    Security Type Breakdown
                                                           Portfolio%
         Common Stocks:
            Foreign                                            99.87%
         Short-Term Investments                                 0.13%
         Total                                                100.00%

    Country Breakdown
                                                           Portfolio%
                Spain                                          90.83%
                Mexico                                          4.48%
                Portugal                                        3.03%
                Brazil                                          1.53%
                Short-Term                                      0.13%
                Total                                         100.00%


    Portfolio Statistics
          Total Net Assets:         $71.7 Million
          Net Asset Value:          $8.05
          Number of Holdings:       38

The foregoing portfolio characteristics are as of the date indicated and can be expected to change.  The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L.P.

SOURCE The Ibero-America Fund, Inc.