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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000943663-01-500022.txt : 20010410
<SEC-HEADER>0000943663-01-500022.hdr.sgml : 20010410
ACCESSION NUMBER:		0000943663-01-500022
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20010405

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST AUSTRALIA PRIME INCOME FUND INC
		CENTRAL INDEX KEY:			0000790500
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				133334183
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		
		SEC FILE NUMBER:	811-04611
		FILM NUMBER:		1596437

	BUSINESS ADDRESS:	
		STREET 1:		ONE SEAPORT PLAZA
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10292
		BUSINESS PHONE:		2122141250

	MAIL ADDRESS:	
		STREET 1:		ONE SEAPORT PLAZA
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10292
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>defa14a.htm
<DESCRIPTION>SUPPLEMENTAL
<TEXT>

<HTML>
<HEAD>
<TITLE>First Australia Prime Income Fund, Inc.</TITLE>
</HEAD>
<BODY>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>THE FIRST
AUSTRALIA PRIME INCOME FUND, INC.</FONT></H1>

<H1  ALIGN=CENTER><FONT  FACE="Times New Roman, Times,  Serif"  SIZE=4>IMPORTANT
     REMINDER</FONT></H1>

<P><FONT  FACE="Times New Roman, Times, Serif" SIZE=2>We have previously sent to
you proxy  material for the Annual Meeting of  Shareholders  scheduled for April
19,  2001.   <B>Your  Board  of  Directors  has  unanimously   recommended  that
shareholders  vote  FOR  all  items  on the  agenda,  including  proposals  (the
&#147;Investment Proposals&#148;) to amend the Fund&#146;s investment objective,
investment  policies  and  investment  restrictions,  as well as a  proposal  to
eliminate the requirement for shareholder  approval of subsequent changes in the
Fund&#146;s investment policies.</B> </FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif"  SIZE=2>Institutional  Shareholder
Services,  the world&#146;s  leading independent provider of proxy voting advice
to  institutional  investors has  recommended a vote FOR all of the proposals on
the agenda. </FONT></P>

<P><FONT   FACE="Times  New  Roman,   Times,   Serif"   SIZE=2><B>Your  vote  is
important</B>, <B>no matter how many or how few shares you may own</B>.
<B>Please note that if your shares are held in the name of a broker, you must
return a proxy card in order for your shares to be voted on the Investment
Proposals.</B> Your broker can not vote your shares on the Investment Proposals
without your instructions. </FONT></P>

<P><FONT  FACE="Times New Roman,  Times,  Serif"  SIZE=2>Whether or not you have
already done so, please sign,  date and return the enclosed  proxy card today in
the envelope  provided to save the Fund from additional  solicitation  expenses.
</FONT></P>

<p><FONT  FACE="Times  New  Roman,  Times,  Serif"  SIZE=2>Thank  you  for  your
support,</FONT></p>

<p><FONT  FACE="Times New Roman,  Times, Serif" SIZE=2>The First Australia Prime
Income Fund, Inc.</FONT></p>


<P   ALIGN=CENTER><FONT  FACE="Times New Roman, Times, Serif" SIZE=2>If you have
     any questions,  or need assistance in voting<BR>  your shares,  please call
     our proxy solicitor,</FONT></p>

<P   ALIGN=CENTER><B><FONT FACE="Times New Roman, Times, Serif" SIZE=2>INNISFREE
     M&amp;A INCORPORATED<BR> TOLL-FREE, AT 1-888-750-5834</FONT></B></p>

<P   ALIGN=CENTER><B><I><FONT    FACE="Times    New   Roman,    Times,    Serif"
     SIZE=2>IMPORTANT NOTE:</FONT></I></B><p>
<P   ALIGN=CENTER><B><FONT  FACE="Times New Roman,  Times, Serif" SIZE=2>You may
     be able to vote by  telephone  or on the  Internet.<BR>  Please  follow the
     instructions on your proxy card.</FONT></B></p>

</BODY>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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