<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No.: *
Name of Issuer: The Austria Fund, Inc.
Title of Class of Securities: Common Stock
CUSIP Number: 052587102
(Name, Address and Telephone Number of Person
Authorized To Receive Notices and Communications)
Dr. Karl Tambornino
Bank Austria Aktiengesellschaft
Vordere Zollamtsstrasse 13
A-1030 Vienna, Austria
431/31333/42430
(Date of Event which Requires Filing of this Statement)
March 10, 1999
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 [ ].
Note: Six copies of this statement, including all exhibits,
should be filed with the Commission. See Rule 13d-1(a) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.
The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
CUSIP No.: 052587102
1. Name of Reporting Person
I.R.S. Identification No. of Above Person
Bank Austria Aktiengesellschaft
2. Check the Appropriate Box if a Member of a Group
a.
b.
3. SEC Use Only
4. Source of Funds
WC
5. Check if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) or 2(e)
6. Citizenship or Place of Organization
Austria
Number of Shares Beneficially Owned by Each Reporting Person
With:
7. Sole Voting Power:
1,039,000
8. Shared Voting Power:
9. Sole Dispositive Power:
1,039,000
10. Shared Dispositive Power:
11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,039,000
12. Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares
2
<PAGE>
13. Percent of Class Represented by Amount in Row (11)
13.07%
14. Type of Reporting Person
BK, CO
3
<PAGE>
Item 1. Security and Issuer
The title of the class of equity securities to which
this statement relates is: Common Stock (the "Shares")
of The Austria Fund, Inc. (the "Issuer")
The name and address of the principal executive and
business office of the Issuer is:
The Austria Fund, Inc.
1345 Avenue of the Americas
New York, New York 10105
Item 2. Identity and Background
(a) Bank Austria Aktiengesellschaft
(b) Vordere Zollamtsstrasse 13, A-1030 Vienna, Austria
(c) Banking
(d) The Reporting Person has not, during the last five
years, been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors).
(e) The Reporting Person has not, during the last five
years, been a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction which
resulted in a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws
or finding any violations with respect to such laws.
(f) Austria
Item 3. Source and Amount of Funds or Other Consideration
As of the date hereof, the Reporting Person is deemed to
beneficially own 1,039,000 Shares. All the Shares were
purchased in open market transactions. The Shares were
purchased for an aggregate purchase price of
$10,938,594. Funds for the purchase of the Shares have
come from a proprietary investment account of the
Reporting Person. No leverage was used to purchase any
of the Shares.
4
<PAGE>
Item 4. Purpose of Transactions
The Shares beneficially owned by the Reporting Person
were acquired for, and are being held for, investment
purposes. The Reporting Person has no plan or proposal
which relates to, or would result in, any of the actions
enumerated in Item 4 of the instructions to Schedule
13D.
Item 5. Interest in Securities of Issuer
(a) As of the date hereof, the Reporting Person is the
beneficial owner of 1,039,000 Shares. The Reporting
Person beneficially owns 13.07% of the outstanding
Shares.
(b) The Reporting Person has the sole power to vote,
direct the vote, dispose of or direct the disposition of
all the Shares that it is deemed to beneficially own.
(c) All transactions in the Shares effected by the
Reporting Person during the sixty days prior to March
10, 1999 through the date of this filing were effected
in open-market transactions and are set forth in Exhibit
B hereto.
(d) No person other than the Reporting Person has the
right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of,
Shares.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer
The Reporting Person has no contracts, arrangements,
understandings or relationships with any person with
respect to the Shares.
Item 7. Material to be Filed as Exhibits
1. Exhibit A: List of Executive Officers and
Directors of the Reporting Person and of
Anteilsverwaltung-Zentralsparkasse, an
Austrian entity in a control position with
respect to the Reporting Person.
2. Exhibit B: Description of the transactions in
the Shares that were effected by the Reporting
5
<PAGE>
Person during the 60 days prior to March 10,
1999 through the date of this filing.
Signature
The undersigned, after reasonable inquiry and to
the best of its knowledge and belief, certifies that the
information set forth in this statement is true, complete
and correct.
Bank Austria Aktiengesellschaft
By: /s/ Peter Renner
___________________________
Peter Renner,
Deputy General Manager
Date
March 22, 1999
6
00250246.AA2
<PAGE>
Exhibit A
Members of the Management Board
of
Bank Austria Aktiengesellschaft
Dkfm. Gerhard Randa
Chairman and Chief Executive Officer
Karl Samstag
Deputy Chairman and Deputy Chief Executive Officer
Heinrich Gehl
Mag. Wolfgang Haller
Mag. Friedrich Kadrnoska
Gerhard Novy
Mag. Franz Zwickl
Members of the Supervisory Board
of
Bank Austria Aktiengesellschaft
Chairman: Dr. Siegfried Sellitsch
Chairman of the Board
Wiener Stadtische Allgemeine
Versicherung Aktiengesellschaft
1010 Wien, Schottenring 30
1st Deputy Chairman: KR Walter Nettig
Chamber of Commerce of Vienna
1010 Wien, Stubenring 8-10
2nd Deputy Chairman: Rudolf Humer
Chairman of the Board
Palmers Textil Aktiengesellschaft
2351 Wiener Neudorf, Palmersstrasse 4-8
A-1
<PAGE>
Board Members: KR Dkfm. Dr. Erich Becker
Member of the Board
Post und Telekombeteilligungsverwaltungsg
esellschaft
Postgasse 8
1010 Wien
p.A. OIAG
Kantgasse 1
1015 Wien
Dr. Dieter Falke
Member of the Board
Westdeutsche Landesbank Girozentrale
D-40217 Dusseldorf, Herzogstrasse 15
Gunther W. Havranek
Tax Consulant, Court Certified Tax Expert
1030 Wien, Am Heumarkt 13
(Eingang Beatrixgasse 32)
Direktor KR Mag. Dr. Ewald Klinger
Managing Director of Waste Disposal
Operations
Simmering Ges.m.b.H.
1110 Wien, 11. Haidequerstrasse 6
Dipl-ing. Gerhard Mayr, M.B.A.
President
Eli Lilly International Corporation
Lilly House
13 Hanover Square
GB-London W1R 0PA
Dr. Friedel Neuber
Chairman of the Board
Westdeutsche Landesbank Girozentrale
D-40217 Dusseldorf, Herzogstrasse 15
KR Dr. Walter Petrak
Member of the Supervisory Board
BARC Versicherungsholding
1030 Wien, Kelsenstrale 5
Dr. Helmut Andreas Schuster
Chairman of the Supervisory Board of
Austrian Federal Railways
1010 Wien, Elisabethstrasse 9
A-2
<PAGE>
Dr. Willem A. Wielens
Regional Executive
Phillips International B.V.
Headquarters Western Europe
Gebaude VO-1.025
NL-5600 MD Eindhoven, Groenewoudseweg 1
Hedwig Fuhrmann
Chairwoman of Central Works Council
of Bank Austria Aktiengesellschaft
c/o Bank Austria Aktiengesellschaft
Vordere Zollamtsstrasse 13
A-1030 Vienna, Austria
Wolfgang Heinzl
1st Deputy Chairman of Central Works
Council
of Bank Austria Aktiengesellschaft
c/o Bank Austria Aktiengesellschaft
Vordere Zollamtsstrasse 13
A-1030 Vienna, Austria
Dr. Kornelia Urban
2nd Deputy Chairwoman of Central Works
Council
of Bank Austria Aktiengesellschaft
c/o Bank Austria Aktiengesellschaft
Vordere Zollamtsstrasse 13
A-1030 Vienna, Austria
Heribert Kruschik
Member of Central Works Council
of Bank Austria Aktiengesellschaft
c/o Bank Austria Aktiengesellschaft
Vordere Zollamtsstrasse 13
A-1030 Vienna, Austria
Wolfgang Lang
Member of Central Works Council
of Bank Austria Aktiengesellschaft
c/o Bank Austria Aktiengesellschaft
Vordere Zollamtsstrasse 13
A-1030 Vienna, Austria
Thomas Schlager
Member of Central Works Council
of Bank Austria Aktiengesellschaft
c/o Bank Austria Aktiengesellschaft
Vordere Zollamtsstrasse 13
A-1030 Vienna, Austria
A-3
<PAGE>
Member of Central Works Council
of Bank Austria Aktiengesellschaft
c/o Bank Austria Aktiengesellschaft
Vordere Zollamtsstrasse 13
A-1030 Vienna, Austria
A-4
<PAGE>
Members of the Management Board
of
Anteilsverwaltung-Zentralsparkasse
Dkfm. Gerhard Randa
Chairman of the Board
Karl Samstag
Deputy Chairman of the Board
Msg. Fredrich Kadrnoska
Board Member
Members of the Savings Bank Council
of
Anteilsverwaltung-ZentralSparkasse
Chairman: Mayor Dr. Michael Haupl
Chairman of Sparkassenrates
der Anteilsverwaltung-Zentralsparkasse
Rathaus
1082 Wien
Deputy-Chairman: Deputy Mayor Grete Laska
City Councilwoman
Rathaus
1010 Wien
Board Members: Direktor KR Mag. Dr. Ewald Klinger
Managing Director of Waste Operations
Simmering Ges. m.b.H.
1110 Wein, 11 Haidequerstrasse 15
Emst Karl Plech
Real Estate Trustee
p A. Firma Ernst Karl Plech
1010 Wein, Graben 29a
Finanzdirektor Dr. Gerhard Scharitzer
Director of Finance Dept. of the City of
Vienna
Magistratsabteilung 4
Ebendorsserstrasse 2
1010 Wein
A-5
<PAGE>
Hedwig Fuhrmann
Chairwoman of Central Works Council
of Bank Austria Aktiengesellschaft
c/o Bank Austria Aktiengesellschaft
Vordere Zollamtsstrasse 13
A-1030 Vienna, Austria
Wolfgang Heinzl
First Deputy Chairman of Central Works
Council
of Bank Austria Aktiengesellschaft
c/o Bank Austria Aktiengesellschaft
Vordere Zollamtsstrasse 13
A-1030 Vienna, Austria
Walter Schlogl
Member of Central Works Council
of Bank Austria Aktiengesellschaft
c/o Bank Austria Aktiengesellschaft
Vordere Zollamtsstrasse 13
A-1030 Vienna, Austria
6
00250246.AA2
<PAGE>
Exhibit B
SCHEDULE OF TRANSACTIONS
Date Shares Purchased Price Per Share
(without commission)
____ ________________________ _________________
03/04/99 96,900 $10.2500
03/05/99 6,000 10.2500
03/05/99 2,500 10.3215
03/05/99 141,500 10.3750
03/08/99 57,400 10.2500
03/08/99 26,000 10.3125
03/09/99 12,500 10.3750
03/09/99 40,700 10.3125
03/09/99 4,800 10.2500
03/10/99 8,500 10.3750
03/10/99 19,600 10.5000
03/10/99 4,000 10.5625
03/10/99 450,000 10.6250
03/11/99 9,800 10.7500
03/11/99 36,700 10.6250
03/12/99 39,200 10.7500
03/12/99 10,000 10.8125
03/15/99 1,200 10.7500
03/15/99 71,700 10.8750
00250246.AA2
