The Southern Africa Fund, Inc. Reports First Quarter Earnings

Apr 12, 2001, 01:00 ET from The Southern Africa Fund, Inc.

    NEW YORK, April 12 /PRNewswire/ -- The Southern Africa Fund, Inc.
 (NYSE:   SOA), a registered closed-end investment company, today announced
 earnings for its first quarter ended February 28, 2001.
     Total net assets of the Fund on February 28, 2001 were
 $66,136,439 compared with $67,180,619 on November 30, 2000 and $102,235,578 on
 February 29, 2000.  On February 28, 2001 net asset value per share was
 $14.49 based on 4,565,396 shares outstanding.
 
                                February 28,     November 30,  February 29,
                                        2001             2000          2000
 
     Total Net Assets            $66,136,439     $67,180,619  $102,235,578
     NAV Per Share                    $14.49          $14.72        $21.27
     Shares Outstanding            4,565,396       4,565,396     4,805,680
 
     For the period December 1, 2000 through February 28, 2001, total net
 investment loss was ($205,731) or ($0.05) per share.  The total net realized
 and unrealized gain was $6,415,965 or $1.41 per share for the same period.
 
                               First Quarter  Fourth Quarter First Quarter
                                       Ended           Ended         Ended
                                February 28,    November 30,  February 29,
                                        2001            2000          2000
     Total Net
      Investment Income/          ($205,731)        $297,441    ($190,496)
      (Loss) Per Share               ($0.05)           $0.07       ($0.04)
 
     Total Net Realized/
      Unrealized Gain/(Loss)      $6,415,965   ($22,269,849)   $21,902,155
      Per Share                        $1.41         ($4.88)         $4.56
 
     The Southern Africa Fund, Inc. is managed by Alliance Capital Management
 L.P.
 
 

SOURCE The Southern Africa Fund, Inc.
    NEW YORK, April 12 /PRNewswire/ -- The Southern Africa Fund, Inc.
 (NYSE:   SOA), a registered closed-end investment company, today announced
 earnings for its first quarter ended February 28, 2001.
     Total net assets of the Fund on February 28, 2001 were
 $66,136,439 compared with $67,180,619 on November 30, 2000 and $102,235,578 on
 February 29, 2000.  On February 28, 2001 net asset value per share was
 $14.49 based on 4,565,396 shares outstanding.
 
                                February 28,     November 30,  February 29,
                                        2001             2000          2000
 
     Total Net Assets            $66,136,439     $67,180,619  $102,235,578
     NAV Per Share                    $14.49          $14.72        $21.27
     Shares Outstanding            4,565,396       4,565,396     4,805,680
 
     For the period December 1, 2000 through February 28, 2001, total net
 investment loss was ($205,731) or ($0.05) per share.  The total net realized
 and unrealized gain was $6,415,965 or $1.41 per share for the same period.
 
                               First Quarter  Fourth Quarter First Quarter
                                       Ended           Ended         Ended
                                February 28,    November 30,  February 29,
                                        2001            2000          2000
     Total Net
      Investment Income/          ($205,731)        $297,441    ($190,496)
      (Loss) Per Share               ($0.05)           $0.07       ($0.04)
 
     Total Net Realized/
      Unrealized Gain/(Loss)      $6,415,965   ($22,269,849)   $21,902,155
      Per Share                        $1.41         ($4.88)         $4.56
 
     The Southern Africa Fund, Inc. is managed by Alliance Capital Management
 L.P.
 
 SOURCE  The Southern Africa Fund, Inc.