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Securities and Exchange Commission
Washington, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(AMENDMENT NO. 3)
Scudder Spain and Portugal Fund, Inc.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
811198100
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(CUSIP Number)
Gregory L. Melville
Bankgesellschaft Berlin AG
Alexanderplatz 2
D-10178 Berlin
Germany
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 18, 1998
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(Date of Event which Requires
Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box. [ ]
Page 1 of 4 Pages
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SCHEDULE 13D
CUSIP NO. 811198100 PAGE 2 OF 4 PAGES
1. NAME OF REPORTING PERSON
S.S. OR I.R.S ID NO. OF ABOVE PERSON
Bankgesellschaft Berlin AG
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION Federal Republic of Germany
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NUMBER OF 7. SOLE VOTING POWER 520,950
SHARES ------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER 0
OWNED BY ------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 520,950
REPORTING ------------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER 0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 520,950
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.0%
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14. TYPE OF REPORTING PERSON BK
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This Amendment No. 3 amends and supplements Item 5 of the Schedule
13D of Bankgesellschaft Berlin AG (the "Bank") with respect to the shares of
Common Stock, par value $.01 per share (the "Common Stock"), of Scudder Spain
and Portugal Fund, Inc. (the "Fund").
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) The Fund's Schedule 13E-4 filed with the Securities and
Exchange Commission on September 2, 1998 states that there are 6,511,154 shares
of Common Stock outstanding. The percentage set forth in this Item 5(a) was
derived using such number.
The Bank is the beneficial owner of 520,950 shares of Common
Stock, which constitute approximately 8.0% of the outstanding shares of Common
Stock.
(b) The Bank has sole power to vote and to dispose of the
shares of Common Stock owned by it.
(c) During the last sixty days, the Bank has effected the
following sales in the shares of Common Stock. The sales were made on the New
York Stock Exchange.
Date Number of Shares Sold Price Per Share
---- --------------------- ---------------
September 18, 1998 135,000 $15.4375
September 24, 1998 6,900 13.00
In addition, and as previously reported in Amendment No. 2 to the
Schedule 13D of the Bank filed with the Securities and Exchange Commission on
September 15, 1998, during the last sixty days the Bank effected the following
purchases in the shares of Common Stock. The purchases were made on the New
York Stock Exchange.
Date Number of Shares Sold Price Per Share
---- --------------------- ---------------
August 25, 1998 20,000 $17.4375
September 2, 1998 15,500 16.0565
(d) No person other than the Bank has the right to receive or
the power to direct the receipt of dividends from, or the proceeds from the
sale of, the shares of Common Stock owned by the Bank.
(e) It is inapplicable to state the date on which the Bank
ceased to be the beneficial owner of more than five percent of the Common
Stock.
Page 3 of 4 Pages
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SIGNATURE
After reasonable inquiry and to the best of our knowledge and belief,
we certify that the information set forth in this statement is true, complete
and correct.
Date: September 28, 1998
BANKGESELLSCHAFT BERLIN AG
By: /s/ Gregory L. Melville
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Name: Gregory L. Melville
Title: Assistant Director
By: /s/ Moritz A. Sell
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Name: Moritz A. Sell
Title: Market Strategist
Page 4 of 4 Pages
