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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. 1)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE
13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
The Austria 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)
052587102
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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)
June 24, 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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CUSIP No.: 052587102 13D Page 2 of 4 Pages
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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 (a) [ ]
OF A GROUP (b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL [ ]
PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 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 SOLE VOTING POWER 802,500
SHARES --------------------------------------------------
BENEFICIALLY SHARED VOTING POWER 0
OWNED --------------------------------------------------
BY EACH SOLE DISPOSITIVE POWER 802,500
REPORTING --------------------------------------------------
PERSON WITH SHARED DISPOSITIVE POWER 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 802,500
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW [ ]
(11) EXCLUDES CERTAIN SHARES
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13 PERCENT OF CLASS REPRESENTED BY
AMOUNT IN ROW (11) 6.86%
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14 TYPE OF REPORTING PERSON BK
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This Amendment No. 1 amends and supplements Items 3 and 5 of the
Schedule 13D of Bankgesellschaft Berlin AG (the "Bank") with respect to the
Common Stock, par value $.01 per share (the "Common Stock"), of The Austria
Fund, Inc. (the "Fund").
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The source of the funds used by the Bank to purchase the 802,500
shares of Common Stock reported in Item 5(a) was working capital and aggregated
approximately $8,276,988 (exclusive of commissions).
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) The Fund's proxy statement, dated November 10, 1997, relating to
the 1997 Annual Meeting of Stockholders of the Fund states that, as of October
31, 1997, there were 11,703,031 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 802,500 shares of Common Stock,
which constitute approximately 6.86% 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
purchases in the shares of Common Stock, all of which were made on the New York
Stock Exchange.
<TABLE>
<CAPTION>
Date Number of Shares Purchased Price Per Share
---- -------------------------- ---------------
<S> <C> <C>
June 16, 1998 20,000 $12.000
June 17, 1998 1,000 12.4375
June 18, 1998 10,000 12.3750
June 23, 1998 2,000 12.5625
June 24, 1998 10,000 12.6250
June 25, 1998 84,800 12.7500
</TABLE>
(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: July 1, 1998 BANKGESELLSCHAFT BERLIN AG
By: /s/ Dirk Kipp
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Name: Dirk Kipp
Title: Director
By: /s/ Bartho Schroeder
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Name: Bartho Schroeder
Title: Director
Page 4 of 4 Pages
