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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000894579-99-000098.txt : 19990412
<SEC-HEADER>0000894579-99-000098.hdr.sgml : 19990412
ACCESSION NUMBER:		0000894579-99-000098
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19990409

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST AUSTRALIA FUND INC
		CENTRAL INDEX KEY:			0000779336
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				133304681
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		
		SEC FILE NUMBER:	811-04438
		FILM NUMBER:		99590536

	BUSINESS ADDRESS:	
		STREET 1:		100 MUDBERRY STREET
		CITY:			NEW YORK
		STATE:			NJ
		ZIP:			07102-4077
		BUSINESS PHONE:		2122141250

	MAIL ADDRESS:	
		STREET 1:		100 MUDBERRY STREET
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07102-4077
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<DESCRIPTION>ADDITIONAL PROXY SOLICITING MATERIALS-DEFINITIVE
<TEXT>



                            SCHEDULE 14A INFORMATION

                  Proxy Statement Pursuant to Section 14(a) of
              the Securities Exchange Act of 1934 (Amendment No. )


Filed by the Registrant /x/
Filed by a Party other than the Registrant / /
Check the appropriate box:
/ /    Preliminary  Proxy Statement
/ /    Confidential, for Use of the Commission Only (as permitted by
       Rule 14a-6(e)(2))
/ /    Definitive Proxy Statement
/x/    Definitive Additional Materials
/ /    Soliciting Material Pursuant to ss.240.14a-11(c) or ss.240.14a-12


                         THE FIRST AUSTRALIA FUND, INC.
                         ------------------------------
                (Name of Registrant as Specified In Its Charter)

    (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

/x/    No fee required.
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       (2)     Aggregate number of securities to which transaction applies:

       (3)     Per unit price or other underlying value of transaction  computed
               pursuant to Exchange Act Rule 0-11 (set forth the amount on which
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       (4)     Proposed maximum aggregate value of transaction:

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/ /    Fee paid previously with preliminary materials.
/ /    Check box if any part of the fee is offset as provided by Exchange  Act
       Rule  0-11(a)(2) and identify the filing for which the offsetting fee was
       paid previously.  Identify the previous filing by registration  statement
       number, or the Form or Schedule and the date of its filing.

       (1)     Amount Previously Paid:

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       (3)     Filing Party: 

       (4)     Date Filed: 


<PAGE>


                                                                          [LOGO]

                                                               [GRAPHIC OMITTED]

THIS WEEK IN AUSTRALIA
ooooooooooooooooooooooooooooooooooooooooooooooooooooooo

Week ending April 9, 1999                                             EQUITILINK
                                                           INVESTMENT MANAGEMENT
 ........................................

ECONOMIC NEWS

o    "Our Economy Still Shining",  The Sydney Morning Herald,  Thursday April 8,
     1999, page 23.
o    The National  Australia  Bank business  conditions  index  remained at very
     strong levels in the March quarter,  suggesting  annual non-farm GDP growth
     would hold around 4.5%.
o    Employment fell slightly in March after a strong rise in February.  Despite
     this, the unemployment rate remained steady at 7.4%.
o    Building  Approvals  increased  by 5.1% in  seasonally  adjusted  terms  in
     February.
o    The February goods and services trade deficit was above market expectations
     at A$1.517 Bn seasonally adjusted. o Retail trade fell slightly in February
     seasonally adjusted, but was better than expected.

CORPORATE NEWS

o    Brambles Industries Ltd. has been given a strong "BUY"  recommendation from
     a leading Australian  stockbroker.  While increased competition in the Chep
     pallet  rental  business  may lead to some  deterioration  of margins,  the
     stockbroker considers this inconsequential.
o    ANZ Banking  Group Ltd. is reported to have entered  talks with the leading
     Australian  online  broking firm E*Trade  Australian  Group with the aim to
     forge an alliance allowing ANZ to take advantage of the Internet boom.
o    Lend Lease Corporation Ltd. announced a 2.7 million share buy-back.
o    Telstra Corporation Ltd.'s further  privitisation is still being considered
     in Parliament.
o    News Corporation Ltd. rallied strongly after Liberty Media Group, the cable
     TV programming company,  announced that it will acquire an 8% stake in News
     valued at about $2.1 Bn.

MARKETS

o    The Australian  stockmarket  rallied this week, with the ASX All Ordinaries
     Index closing above 3000. 
o    The Australian dollar  depreciated due to the weaker employment figures and
     some softness in commodity prices.
o    Australian bonds yields declined along with US treasury yields.

<TABLE>
<CAPTION>
<S>                          <C>      <C>      <C>      <C>     <C>       <C>     <C>        <C>       <C>       <C>       <C>
 ----------------------------------------------------------------------------------------------------------------------------------
|         %             |  Current  |   1      Week  |   1      month  |   3      months  |    6       months  |    1      Year    |
| ASX All Ordinaries    |    3065   |  2973    +3.1% |  2930    +4.6%  |  2856     +7.3%  |   2503     +22.5%  |  2814     +8.9%   |
| ASX All Industrials   |    5517   |  5347    +3.2% |  5303    +4.0%  |  5173     +6.6%  |   4346     +26.9%  |  4852    +13.7%   |
| ASX All Resources     |    1038   |  1034    +0.4% |   979    +6.0%  |   951     +9.1%  |   1027      +1.1%  |  1183    -12.3%   |
| Australian Dollar     |   0.6265  | 0.6344   -1.2% | 0.6316   -0.8%  | 0.6338    -1.2%  |  0.6143     +2.0%  | 0.6623    -5.4%   |
 ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

OUTLOOK
o    The  Australian  dollar is expected  to be  supported  by  stronger  global
     industrial  production,   which  should  also  see  resource  stock  prices
     increase.
o    As the Australian  economy continues to grow strongly,  with low inflation,
     the economic fundamentals for the Australian stockmarket remain positive.


- --------------------------------------------------------------------------------
The discussion of economic and market news is based on  information  believed to
be  accurate,  but  EquitiLink  does not give any  warranty  in  relation to the
accuracy or reliability of such  information.  That  discussion,  as well as the
discussion of outlook,  which represents the views of EquitiLink,  is subject to
change as market and economic events unfold.


</TEXT>
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