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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000943663-01-500075.txt : 20010507
<SEC-HEADER>0000943663-01-500075.hdr.sgml : 20010507
ACCESSION NUMBER:		0000943663-01-500075
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20010504

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:		1621889

	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
<TEXT>

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<HEAD>
<TITLE>defa14a</TITLE>
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<BODY><BR>
<BR>.Return Address
<BR>PROXY SERVICES
<BR>51 MERCEDES WAY
<BR>EDGEWOOD, NY  11717
<BR>.Text
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ABERDEEN ASIA PACIFIC INCOME FUND, INC.
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
FORMERLY, THE FIRST AUSTRALIA PRIME INCOME FUND, INC.
<BR>
<BR>May 3, 2001
<BR>
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
IMPORTANT - PLEASE VOTE TODAY
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SAVE YOUR FUND FROM ADDITIONAL EXPENSES
<BR>
<BR>Dear Shareholder:

<P>As we have previously
written, the Fund&#146;s Annual Meeting has been adjourned until May 10, 2001 to
give shareholders additional time to vote on the proposals to amend the
Fund&#146;s investment objective, investment policies and investment
restrictions (the &#147;Investment Proposals&#148;). The proposal to eliminate
the requirement for shareholder approval of any subsequent changes in the
Fund&#146;s investment policies has been withdrawn.</P>

<P>According to our latest
records, your shares have not yet been voted. At the time of the originally
scheduled Annual Meeting, an insufficient number of shareholders had voted on
the Investment Proposals to meet the minimum vote requirement necessary for
approval. Because of that vote requirement, a failure to vote on the Investment
Proposals has the same effect as a vote against those proposals.</P>

<P>The Investment Proposals
would enable the Fund to increase its investment in Asian debt markets and
reflect the efforts of the Investment Manager and Investment Adviser to promote
investment diversification and flexibility. Your Board has unanimously
recommended that shareholders vote for the Investment Proposals.</P>

<P>Please save the Fund from
additional solicitation expenses by voting your shares today. Since time is
short, we have established a method that will enable you to vote by a toll-free
telephone call. Please follow the simple steps listed below.</P>
<BR>
<BR>If you have any questions or need assistance in the last minute voting of your shares, please call Innisfree M&amp;A Incorporated,
<BR>toll-free at 1-888-750-5834.
<BR>
<BR>Thank you for your support,
<BR>
<BR>Aberdeen Asia Pacific Income Fund, Inc.
<BR>Formerly, The First Australia Prime Income Fund, Inc.
<BR>
<BR>
<BR><CENTER>INSTRUCTIONS</CENTER>
<BR>
<BR>1.  Call Toll-Free 1-877-880-9547, anytime, day or night.
<BR>
<BR>2.  Tell the operator that you wish to send a collect ProxyGram to
ID No. 8602, Aberdeen Asia Pacific Income Fund, Inc. or The
First Australia Prime Income Fund, Inc.
<BR>
<BR>3.  State your name, address and telephone number.
<BR>
<BR>4.  State the bank or broker at which your shares are held and your
control number as shown below:
<BR>
<CENTER><BR>                           Name:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#139;NA.1&#155;
<BR>                           Broker:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#139;Broker&#155;
<BR>                           Control Number:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#139;ControlNum&#155;
<BR>                           Number of Shares:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#139;NumShares&#155;
</CENTER>
<BR>
<BR>5.       Give the operator your voting preferences, using the proxy text
below.  You need only vote on Proposals 3A, 3B and 3C.
<BR>
<CENTER>
<BR>                                            THE FIRST AUSTRALIA PRIME INCOME FUND, INC.
<BR>                                     THIS PROXY SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
<BR>                                          Annual Meeting of Shareholders - April 19, 2001
</CENTER>
<P>The undersigned hereby
appoints Beverley Hendry, William J. Potter, and Michael Karagianis, and each of
them, the proxies of the undersigned, with power of substitution to each of
them, to vote all shares of the common stock of The First Australia Prime Income
Fund, Inc. which the undersigned is entitled to vote at the Annual Meeting of
Shareholders of The First Australia Prime Income Fund, Inc. to be held at the
offices of Prudential Securities Incorporated, One Seaport Plaza, New York, New
York on April 19, 2001 at 2:00 p.m. (Eastern time), and at any adjournment or
postponement thereof. By signing the proxy card below, the undersigned
authorizes the appointed proxies to vote in their discretion on any other
business which may properly come before the meeting or any adjournments or
postponements thereof.</P>

<P>Please give your name to
the operator exactly as your name(s) appear(s) on the books of the Fund. Joint
owners should each sign personally. Trustees and other fiduciaries should
indicate the capacity in which they sign, and where more than one name appears,
a majority must sign. If a corporation, this signature should be that of an
authorized officer who should state his or her title.</P>

<P>This proxy, when properly executed, will be voted in the manner directed.  If no direction is made, this proxy will be voted FOR
Items (1), (3A), (3B), (3C) and (3D).</P>

<CENTER>THE FIRST AUSTRALIA PRIME INCOME FUND, INC.
<BR>
<BR>COMMON STOCK</CENTER>
<BR>
<BR>(1) The election of three Directors to serve as Class I Directors for a three-year
term.
<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(01) Anthony E. Aaronson,;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(02) Beverley Hendry,
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(03) Neville J. Miles
<BR>
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) FOR ALL NOMINEES&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) WITHHOLD&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) FOR ALL EXCEPT
<BR>
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOTE:  IF YOU DO NOT WISH YOUR SHARES VOTED "FOR" A
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PARTICULAR NOMINEE(S), GIVE THAT NOMINEE(S) NAME TO THE
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OPERATOR.
<BR>
<BR>(3A)  To amend the Fund's investment objective.
<BR>
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) FOR&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) AGAINST&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) ABSTAIN
<BR>
<BR>(3B)  To amend the Fund's investment policies
<BR>
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) FOR&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) AGAINST&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) ABSTAIN
<BR>
<BR>(3C)  To amend the Fund's investment restrictions
<BR>
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) FOR&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) AGAINST&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) ABSTAIN
<BR>
<BR>(3D)  To eliminate the requirement that shareholders approve changes in the Fund's investment policies
<BR>
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) FOR&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) AGAINST&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) ABSTAIN
<BR>
<BR>The appointed proxies will vote in their discretion on any other business as may properly come before the meeting or any
<BR>adjournments or postponements thereof.
<BR>
<BR>
<BR>
<BR>
<BR>
<PAGE>
<BR>.Return Address
<BR>PROXY SERVICES
<BR>51 MERCEDES WAY
<BR>EDGEWOOD, NY  11717
<BR>.Text
<BR>
<CENTER>                                              ABERDEEN ASIA PACIFIC INCOME FUND, INC.
<BR>                                       FORMERLY, THE FIRST AUSTRALIA PRIME INCOME FUND, INC.
<BR>
</CENTER>
<BR>May 3, 2001
<BR>
<BR>
<CENTER>                                                   IMPORTANT - PLEASE VOTE TODAY
<BR>                                              SAVE YOUR FUND FROM ADDITIONAL EXPENSES
</CENTER>
<BR>Dear Shareholder:
<BR>
<P>As we have previously
written, the Fund&#146;s Annual Meeting has been adjourned until May 10, 2001 to
give shareholders additional time to vote on the proposals to amend the
Fund&#146;s investment objective, investment policies and investment
restrictions (the &#147;Investment Proposals&#148;). The proposal to eliminate
the requirement for shareholder approval of any subsequent changes in the
Fund&#146;s investment policies has been withdrawn.</P>

<P>According to our latest
records, your shares have not yet been voted. At the time of the originally
scheduled Annual Meeting, an insufficient number of shareholders had voted on
the Investment Proposals to meet the minimum vote requirement necessary for
approval. Because of that vote requirement, a failure to vote on the Investment
Proposals has the same effect as a vote against those proposals.</P>

<P>The Investment Proposals
would enable the Fund to increase its investment in Asian debt markets and
reflect the efforts of the Investment Manager and Investment Adviser to promote
investment diversification and flexibility. Your Board has unanimously
recommended that shareholders vote for the Investment Proposals.</P>

<P>Please save the Fund from
additional solicitation expenses by voting your shares today. Since time is
short, we have established a method that will enable you to vote by a toll-free
telephone call. Please follow the simple steps listed below.</P>

<P>If you have any questions or need assistance in the last minute voting of your shares, please call Innisfree M&amp;A Incorporated,
toll-free at 1-888-750-5834.</P>

<P>Thank you for your support,</P>

Aberdeen Asia Pacific Income Fund, Inc.
<BR>Formerly, The First Australia Prime Income Fund, Inc.
<BR>
<BR>
<BR>
<CENTER>INSTRUCTIONS</CENTER>
<BR>
<BR>
<BR>1.  Call Toll-Free 1-877-880-9547, anytime, day or night.
<BR>
<BR>2.  Tell the operator that you wish to send a collect ProxyGram to
    ID No. 8612, Aberdeen Asia Pacific Income Fund, Inc. or The
    First Australia Prime Income Fund, Inc.
<BR>
<BR>3.  State your name, address and telephone number.
<BR>
<BR>4.  State the bank or broker at which your shares are held and your
    control number as shown below:
<BR>
<CENTER><BR>                           Name:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#139;NA.1&#155;
<BR>                           Broker:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#139;Broker&#155;
<BR>                           Control Number:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#139;ControlNum&#155;
<BR>                           Number of Shares:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#139;NumShares&#155;
</CENTER>
<BR>
<BR>5.       Give the operator your voting preferences, using the proxy text
        below.  You need only vote on Proposals 3A, 3B and 3C.
<BR>
<BR>
<BR>
<BR>
<CENTER>THE FIRST AUSTRALIA PRIME INCOME FUND, INC.
<BR>THIS PROXY SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS
<BR>Annual Meeting of Shareholders - April 19, 2001
<BR>
</CENTER>
<P>The undersigned hereby
appoints Beverley Hendry, William J. Potter, and Michael Karagianis, and each of
them, the proxies of the undersigned, with power of substitution to each of
them, to vote all shares of the preferred stock of The First Australia Prime
Income Fund, Inc. which the undersigned is entitled to vote at the Annual
Meeting of Shareholders of The First Australia Prime Income Fund, Inc. to be
held at the offices of Prudential Securities Incorporated, One Seaport Plaza,
New York, New York on April 19, 2001 at 2:00 p.m. (Eastern time), and at any
adjournment or postponement thereof. By signing the proxy card below, the
undersigned authorizes the appointed proxies to vote in their discretion on any
other business which may properly come before the meeting or any adjournments or
postponements thereof.</P>

<P>Please give name to the
operator exactly as your name(s) appear(s) on the books of the Fund. Joint
owners should each sign personally. Trustees and other fiduciaries should
indicate the capacity in which they sign, and where more than one name appears,
a majority must sign. If a corporation, this signature should be that of an
authorized officer who should state his or her title.</P>

<P>This proxy, when properly executed, will be voted in the manner directed.  If no direction is made, this proxy will be voted FOR
Items (2), (3A), (3B), (3C) and (3D).</P>
<BR>
<BR>
<CENTER>THE FIRST AUSTRALIA PRIME INCOME FUND, INC.
<BR>
<BR>AUCTION MARKET PREFERRED STOCK SERIES A-I</CENTER>
<BR>
<BR>(2) The election of two Directors to represent the interests of the holders of
preferred stock for the ensuing year.
<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(01);&nbsp;&nbsp;&nbsp; Dr. Anton E. Schrafl,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(02) John T. Sheehy
<BR>
<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(&nbsp;) FOR ALL NOMINEES&nbsp;&nbsp;(&nbsp;) WITHHOLD&nbsp;&nbsp;(&nbsp;&nbsp;) FOR ALL EXCEPT
<BR>
<BR>
<BR>
<BR>    NOTE:  IF YOU DO NOT WISH YOUR SHARES VOTED "FOR" A
<BR>    PARTICULAR NOMINEE(S), GIVE THAT NOMINEE(S) NAME TO THE
<BR>    OPERATOR.
<BR>
<BR>(3A)  To amend the Fund's investment objective.
<BR>
<BR>&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) FOR&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) AGAINST&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) ABSTAIN
<BR>
<BR>(3B)  To amend the Fund's investment policies
<BR>
<BR>&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) FOR&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) AGAINST&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) ABSTAIN
<BR>
<BR>(3C)  To amend the Fund's investment restrictions
<BR>
<BR>&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) FOR&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) AGAINST&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) ABSTAIN
<BR>
<BR>(3D)  To eliminate the requirement that shareholders approve changes in the Fund's investment policies
<BR>
<BR>&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) FOR&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) AGAINST&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(&nbsp;) ABSTAIN
<BR>
<BR>The appointed proxies will vote in their discretion on any other business as may properly come before the meeting or any
adjournments or postponements thereof.<BR>
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