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SIGNATURE MICHAEL PIGNATARO
TITLE CFO
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> THE FIRST ISRAEL FUND, INC.
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RESULTS OF ANNUAL MEETING OF SHAREHOLDERS (UNAUDITED)
On February 9, 1999, the Annual Meeting of Shareholders of The First
Israel Fund, Inc. (the "Fund") was held and the following matters
were voted upon:
(1) To re-elect three directors to the Board of Directors of
the Fund.
Name of Director For Withheld Non-Votes
Jonathan W. Lubell 2,865,858 709,468 1,436,969
Steven N. Rappaport 3,414,236 161,090 1,436,969
Richard W. Watt 2,882,426 692,900 1,436,969
In addition to the directors re-elected at the meeting, Dr. Enrique
R. Arzac, Peter A. Gordon, George W. Landau and William W. Priest,
Jr. continue to serve as directors of the Fund.
(2) To ratify the selection of PricewaterhouseCoopers LLP as
independent public accountants for the fiscal year ending September
30, 1999.
For Against Abstain Non-Votes
3,471,537 76,567 27,222 1,436,969
(3) To approve or reject the shareholder proposal recommending that
the Fund be converted into an open-end investment company.
For Against Abstain Broker Non-Votes Non-Votes
1,311,159 589,821 69,967 1,604,379 1,436,969
The above resolution was approved. Since the resolution was in the
form of a recommendation only, it did not require for its passage
the vote generally required under the Fund's charter (75% of
outstanding shares) to open-end the Fund.
On October 21, 1998, the Board authorized the repurchase by the Fund
of up to 15% of the fund's outstanding common stock, for the purpose
of enhancing shareholder value. This program is currently being
implemented. The Board considered the proposal at its subsequent
meeting and unanimously voted not to implement the recommendation at
this time.
