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SIGNATURE GRACE TORRES
TITLE ASSISTANT TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000779336
<NAME> THE FIRST AUSTRALIA FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 139,410,762
<INVESTMENTS-AT-VALUE> 170,315,564
<RECEIVABLES> 109,089
<ASSETS-OTHER> 237,142
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 170,661,795
<PAYABLE-FOR-SECURITIES> 184,448
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<OTHER-ITEMS-LIABILITIES> 1,015,252
<TOTAL-LIABILITIES> 1,199,700
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 153,052,595
<SHARES-COMMON-STOCK> 17,189,998
<SHARES-COMMON-PRIOR> 17,189,998
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,579,627)
<ACCUMULATED-NET-GAINS> (11,390,783)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 29,379,910
<NET-ASSETS> 169,462,095
<DIVIDEND-INCOME> 1,953,199
<INTEREST-INCOME> 107,281
<OTHER-INCOME> 15,944
<EXPENSES-NET> 1,962,416
<NET-INVESTMENT-INCOME> 114,008
<REALIZED-GAINS-CURRENT> 9,097,268
<APPREC-INCREASE-CURRENT> 25,332,359
<NET-CHANGE-FROM-OPS> 34,543,635
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<DISTRIBUTIONS-OF-GAINS> (4,503,686)
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</TABLE>
For the six month period ended 4/30/99
File number 811-4438
SUB-ITEM 77C
Submission of Matters to a Vote of Security Holders
The Annual Meeting of Shareholders of The First
Australia Fund, Inc. was held April 23, 1999. At
such meeting the shareholders of the Fund approved the
following proposals:
A. Proposal that Rt. Hon. Malcolm Fraser, Harry A. Jacobs,
Jr, Howard A. Knight, Richard H. McCoy, Brian M.
Sherman, Ronald G. Olin, Ralph W. Bradshaw, Gary A.
Bentz, William A. Clark and Gerald Hellerman are duly
elected to serve as Directors of the Fund until the
earlier to occur of (i) the next meeting of
Shareholders at which Directors are elected and until
his or her successor shall have been duly elected and
shall have qualified or (ii) their terms expire in
accordance with the Fund's retirement policy.
In Favor Withheld
Rt. Hon. Malcolm Fraser 9,578,300 909,565
Harry A. Jacobs, Jr. 9,581,669 906,196
Howard A. Knight 9,540,710 947,155
Richard H. McCoy 9,542,048 945,817
Brian M. Sherman 9,609,751 878,114
Ronald G. Olin 1,765,148 23,690
Ralph W. Bradshaw 1,765,148 23,690
Gary A. Bentz 1,765,148 23,690
William A. Clark 1,765,148 23,690
Gerald Hellerman 1,765,148 23,690
B. Proposal that PricewaterhouseCoopers LLP serve as
independent public accountants of the Fund for the
fiscal year ending October 31, 1999.
Votes For Votes Against Abstentions
10,072,998 252,978 1,950,725
C. Proposal to terminate the investment agreement:
Votes For Against Abstain
2,870,031 6,522,667 401,415
D. Proposal that the board take whatever steps necessary
for shareholders to receive net asset value for their
shares within 60 days of the meeting:
Votes For Against Abstain
3,224,049 6,330,907 239,365
E. Proposal that all directors not standing for reelection
who oppose item 4 resign:
Votes For Against Abstain
2,874,034 6,580,953 338,973
F. Proposal to reimburse shareholder proponent's fees and
expenses:
Votes For Against Abstain
2,437,404 7,061,267 295,537
THE FIRST AUSTRALIA FUND, INC.
Gateway Center Three, 9th Floor
100 Mulberry Street
Newark, NJ 07102-4077
June 25, 1999
SEC Operations Center (OFCIS)
6432 General Green Way
Mail Stop 0-7
Alexandria, VA 22312
Attention: File Support Unit
Re: The First Australia Fund, Inc.
File No. 811-4438
Ladies and Gentlemen:
Enclosed is one (1) copy of the of the Semi-Annual
Report on Form N-SAR for The First Australia Fund,
Inc. for the period ended April 30, 1999. The Form
N-SAR was filed using the Edgar system.
Very truly yours,
/s/Kenneth Kozlowski
Kenneth Kozlowski
Assistant Treasurer
This report is signed on behalf of the Registrant in
the City of Newark and State of New Jersey on the
25th day of June, 1999.
The First Australia Fund, Inc.
Witness:/s/ Grace C. Torres By:/s/Kenneth Kozlowski
Grace C. Torres Kenneth Kozlowski
Treasurer Assistant Treasurer
