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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000894579-99-000108.txt : 19990419
<SEC-HEADER>0000894579-99-000108.hdr.sgml : 19990419
ACCESSION NUMBER:		0000894579-99-000108
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19990416

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:		99595771

	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.
/ /    Fee  computed  on  table below  per  Exchange  Act Rules  14a-6(i)(1) and
       0-11.

       (1)     Title of each class of securities to which transaction applies:
 
       (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
               the filing fee is calculated and state how it was determined):

       (4)     Proposed maximum aggregate value of transaction:

       (5)     Total fee paid:

/ /    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:

       (2)     Form, Schedule or Registration Statement No.: 

       (3)     Filing Party: 

       (4)     Date Filed: 


<PAGE>


                                                                          [LOGO]

                                                               [GRAPHIC OMITTED]

THIS WEEK IN AUSTRALIA
ooooooooooooooooooooooooooooooooooooooooooooooooooooooo     
                                                                EQUITILINK
Week ending April 16, 1999                                 INVESTMENT MANAGEMENT
 ........................................

ECONOMIC NEWS
o    National  Australia  Bank's March business survey showed  conditions at the
     highest level since the monthly survey began in March 1997, consistent with
     around 5% GDP growth.  The only concern is capacity use  continues to rise,
     to 81.9% from 80.9% previously.
o    Long-term unemployment has fallen to its lowest level in almost three years
     according to the Australian Bureau of Statistics March labour force data.

CORPORATE NEWS
o    Forsters Brewing Group Ltd. has forecast that its  wine club  business will
     double within three years, as it buys more clubs mainly in Europe.
o    News Corporation Ltd's.  expansion in television and sports broadcasting in
     Europe has been setback because the UK Government has blocked  B-Sky-B's $1
     Bn takeover of English soccer team Manchester United. This action may limit
     B-Sky-B's broadcast rights opportunities.
o    Brambles  Industries Ltd. has been  reporting  ongoing  positive  news. One
     major Broking house has commented that in the past, negative  concerns have
     offered excellent buying opportunities.
o    ANZ Banking  Group Ltd.  broke  through its all time highs this week. It is
     expected to announce sales of some of its emerging market operations, and a
     share buy-back scheme.

MARKETS
o    Strong  foreign  buying  of  Resource   stocks   supported  the  Australian
     Stockmarket this week.
o    The Australian dollar appreciated following stronger economic data releases
     and  some  improvement  in  commodity  prices.  
o    Australian bond yields increased slightly this week.

<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  |   3095  |  3056   +1.3% |  2990    +3.5% |  2809   +10.2% |   2459    +25.9%  |  2871     +7.8%  |
| ASX All Industrials |   5533  |  5517   +0.3% |  5383    +2.8% |  5039    +9.8% |   4271    +29.5%  |  4965    +11.4%  |
| ASX All Resources   |   1113  |  1038   +7.2% |  1030    +8.1% |   988   +12.7% |   1008    +10.4%  |  1194     -6.8%  |
| Australian Dollar   |  0.6429 | 0.6265  +2.6% | 0.6289   +2.2% | 0.6341   +1.4% |  0.6406    +0.4%  | 0.6496    -1.0%  |
 ------------------------------------------------------------------------------------------------------------------------
</TABLE>

OUTLOOK
o    Any recovery in commodity  prices should support the Australian  dollar and
     the Stockmarket in the near-term.
o    On a  fundamental  basis,  the outlook for the  Australian  Stockmarket  is
     positive.  The  economy  continues  to show  signs of  strong  growth,  and
     inflation pressures are benign.

- ----------------------------------

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>
</DOCUMENT>
</SEC-DOCUMENT>
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