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<PAGE> PAGE 2
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SIGNATURE JOHN MILLETTE
TITLE SECRETARY
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the The
Argentina Fund, Inc. Semiannual Report for the six month period ended 4/30/99
and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> The Argentina Fund, Inc.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 111,945,720
<INVESTMENTS-AT-VALUE> 141,268,078
<RECEIVABLES> 173,448
<ASSETS-OTHER> 654
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 141,442,180
<PAYABLE-FOR-SECURITIES> 379,750
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 275,169
<TOTAL-LIABILITIES> 654,919
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 114,151,541
<SHARES-COMMON-STOCK> 9,284,370
<SHARES-COMMON-PRIOR> 9,273,029
<ACCUMULATED-NII-CURRENT> 395,636
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,085,582)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 29,325,666
<NET-ASSETS> 140,787,261
<DIVIDEND-INCOME> 2,944,345
<INTEREST-INCOME> 138,916
<OTHER-INCOME> 0
<EXPENSES-NET> 869,578
<NET-INVESTMENT-INCOME> 2,213,683
<REALIZED-GAINS-CURRENT> (1,034,711)
<APPREC-INCREASE-CURRENT> 22,933,994
<NET-CHANGE-FROM-OPS> 24,112,966
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,172,863)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
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<SHARES-REINVESTED> 92,168
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<ACCUMULATED-NII-PRIOR> 2,354,816
<ACCUMULATED-GAINS-PRIOR> (2,050,871)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 588,333
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 869,578
<AVERAGE-NET-ASSETS> 114,573,076
<PER-SHARE-NAV-BEGIN> 13.02
<PER-SHARE-NII> 0.24
<PER-SHARE-GAIN-APPREC> 2.35
<PER-SHARE-DIVIDEND> (0.45)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 15.16
<EXPENSE-RATIO> 1.53
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
(logo)The Argentina Fund, Inc.
Stockholder Meeting Results
================================================================================
A Special Meeting of Stockholders (the "Meeting") of The Argentina Fund Fund,
Inc. (the "Fund") was held on December 17, 1998, at the office of Scudder Kemper
Investments, Inc., Two International Place, Boston, Massachusetts 02110. At the
Meeting the following matters were voted upon by the stockholders (the resulting
votes for each matter are presented below).
1. To approve a new Investment Advisory, Management and Administration
Agreement for the Fund with Scudder Kemper Investments, Inc.
Number of Votes:
----------------
For Against Abstain Broker Non-Votes*
--- ------- ------- -----------------
4,710,953 802,607 25,997 0
2. To approve a new Research and Advisory Agreement between Scudder Kemper
Investments, Inc. and Sociedad General de Negocios y Valores S.A.
Number of Votes:
----------------
For Against Abstain Broker Non-Votes*
--- ------- ------- -----------------
4,708,218 805,412 25,927 0
- --------------------------------------------------------------------------------
* Broker non-votes are proxies received by the Fund from brokers or nominees
when the broker or nominee neither has received instructions from the
beneficial owner or other persons entitled to vote nor has discretionary power
to vote on a particular matter.
20
