-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Ii1gkyWk1lDZtFqieWmlc9qz8uQKQ5x4Wq+FajkA0tlHswM7mcG4YSm4yLpBd8UW
 DyQE5S/az6WOaNkrO4d4cA==

<SEC-DOCUMENT>0000943663-04-000237.txt : 20040415
<SEC-HEADER>0000943663-04-000237.hdr.sgml : 20040415
<ACCEPTANCE-DATETIME>20040415122734
ACCESSION NUMBER:		0000943663-04-000237
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040331
ITEM INFORMATION:		Other events
FILED AS OF DATE:		20040415

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ABERDEEN AUSTRALIA EQUITY FUND INC
		CENTRAL INDEX KEY:			0000779336
		IRS NUMBER:				133304681
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-04438
		FILM NUMBER:		04735240

	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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST AUSTRALIA FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>aberdeen8k.htm
<TEXT>
<html>

<head>
</head>

<body>

<b>
<p ALIGN="CENTER"><font size="2">______________________________________________________________________________</font></p>
<p ALIGN="CENTER"><font size="2">&nbsp;</font></p>
<p ALIGN="CENTER"><font size="2">SECURITIES AND EXCHANGE COMMISSION<br>
Washington, DC 20549</font></p>
<p ALIGN="CENTER"><font size="2">____________________</font></p>
<p ALIGN="CENTER"><font size="2">FORM 8-K</font></p>
<p ALIGN="CENTER"><font size="2">CURRENT REPORT<br>
<br>
Pursuant to Section 13 or 15(d) of the<br>
<br>
Securities Exchange Act of 1934</font></p>
<p ALIGN="CENTER"><font size="2">Date of earliest event reported: March 31, 2004</font></p>
<p ALIGN="CENTER"><font size="2">Aberdeen Australia Equity Fund, Inc.<br>
____________________<br>
</font></b><font size="2">(Exact name of registrant as specified in charter)</font></p>
<div align="center">
  <center>
  <table CELLSPACING="0" BORDER="0" CELLPADDING="7" WIDTH="624">
    <tr>
      <td WIDTH="186" VALIGN="TOP"><b>
        <p ALIGN="CENTER"><font size="2">Maryland<br>
        </font></b><font size="2">(State of Incorporation)<br>
        </font></td>
      <td WIDTH="203" VALIGN="TOP"><b>
        <p ALIGN="CENTER"><font size="2">001-9032<br>
        </font></b><font size="2">(Commission File Number)</font></td>
      <td WIDTH="187" VALIGN="TOP"><b>
        <p ALIGN="CENTER"><font size="2">133304681<br>
        </font></b><font size="2">(I.R.S. Employer<br>
        Identification No.)<br>
        </font></td>
    </tr>
  </table>
  </center>
</div>
<p ALIGN="CENTER"><center>
<div align="center">
  <table CELLSPACING="0" BORDER="0" CELLPADDING="7" WIDTH="474">
    <tr>
      <td WIDTH="292" VALIGN="TOP"><b>
        <p ALIGN="CENTER"><font size="2">100 Mulberry Street, Newark, New Jersey<br>
        </font></b><font size="2">(Address of Principal Executive Offices)</font></td>
      <td WIDTH="150" VALIGN="TOP"><b>
        <p ALIGN="CENTER"><font size="2">07102-4077<br>
        </font></b><font size="2">(Zip Code)<br>
        </font></td>
    </tr>
  </table>
</div>
</center><b>
<p ALIGN="CENTER"><font size="2">(212) 968 - 8800<br>
</font></b><font size="2">(Registrant's telephone number, including area code)</font></p>
<b><u>
<p ALIGN="CENTER"></p>
</u>
<p ALIGN="CENTER"><font size="2">N/A<br>
</font>
</b><font size="2">(Former Name or Former Address, if Changed Since Last Report)</font></p>
<b>
<p ALIGN="CENTER"><font size="2">&nbsp;</font></p>
<font SIZE="3">
<p ALIGN="CENTER">&nbsp;</p>
</font>
<p ALIGN="CENTER"><font size="2">_______________________________________________________________________________</font></p>
<p ALIGN="CENTER"><font size="2"><br>
</font></p>
<p ALIGN="left"><font size="2">Item 5.&nbsp;&nbsp; <u>Other Events.</u></font></p>
</b>
<p ALIGN="JUSTIFY"><font size="2">&nbsp;&nbsp;&nbsp;&nbsp; As previously reported to shareholders, Full Value Partners, L.P.
(&quot;Full Value&quot;) filed a purported class action on behalf of the Fund's
shareholders, in Newark, New Jersey federal court in March 2003 against both the
Fund and its Board of Directors. Full Value sought injunctive relief enjoining (i)
the effectuation of a then proposed tender offer, (ii) the enforcement of
certain bylaw amendments, and (iii) the overturning of any &quot;wrongful
election&quot; of directors of the Fund. The Fund and its Directors believed,
and continue to believe, that the claims were without merit. On March 31, 2004,
as part of a settlement agreement, Full Value's claims were dismissed with
prejudice. Full Value determined that, in light of various events and
circumstances occurring since the filing of the lawsuit, including the
forthcoming submission of two corporate governance proposals at the Fund's 2004
Annual Meeting of Stockholders, Full Value would not proceed with the suit if
the Fund agreed to pay Full Value's legal fees of approximately $81,000. The
Fund has so agreed, without any admission of liability, in order to avoid
additional litigation expense.</font></p>
<font SIZE="3">
<p ALIGN="JUSTIFY">&nbsp;</p>
</font>
<b>
<p ALIGN="CENTER"><font size="2">SIGNATURE</font></p>
</b>
<p><font size="2">Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.</font></p>
<table CELLSPACING="0" BORDER="0" CELLPADDING="7" WIDTH="638">
  <tr>
    <td WIDTH="273" VALIGN="TOP"><font size="2">&nbsp;</font></td>
    <td WIDTH="333" VALIGN="TOP">
      <p><font size="2">ABERDEEN AUSTRALIA EQUITY FUND, INC.<br>
      </font></td>
  </tr>
  <tr>
    <td WIDTH="273" VALIGN="TOP">
      <p><font size="2">Date: April 15, 2004</font></td>
    <td WIDTH="333" VALIGN="TOP" rowspan="2">
      <p><font size="2">By: <u>/s/ Beverley Hendry<br>
      </u>Beverley Hendry, Vice President</font></td>
  </tr>
  <tr>
    <td WIDTH="273" VALIGN="TOP"><font size="2">&nbsp;</font></td>
  </tr>
</table>
<blockquote>
  <blockquote>
    <blockquote>
      <blockquote>
        <blockquote>
          <blockquote>
            <blockquote>
              <blockquote>
                <blockquote>
                  <blockquote>
                    <blockquote>
                      <blockquote>
                        <blockquote>
                          <p><font size="2">&nbsp;</font></p>
                        </blockquote>
                      </blockquote>
                    </blockquote>
                  </blockquote>
                </blockquote>
              </blockquote>
            </blockquote>
          </blockquote>
        </blockquote>
      </blockquote>
    </blockquote>
  </blockquote>
</blockquote>

</body>

</html>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
