NEW YORK, June 20 /PRNewswire-FirstCall/ -- Aberdeen Asia-Pacific Income
Fund, Inc. (Amex: FAX / PSE: FAX), a closed-end bond fund, announced today
that it will pay a monthly distribution of US 3.5 cents per share on July 15,
2005 to all shareholders of record as of June 30, 2005 (ex-dividend date June
28, 2005).
The Board's policy is to provide investors with a stable monthly
distribution out of current income, supplemented by realized capital gains
and, to the extent necessary, paid-in capital. It is the Board's intention
that the monthly distribution of US 3.5 cents per share be maintained for 12
months, beginning with the July 15, 2005 distribution payment. This policy is
subject to regular review at the Board's quarterly meetings. The next review
is scheduled to take place in September 2005.
For the 12 months to May 31, 2005, the Fund has paid total distributions
amounting to US 42 cents per share.
The Fund is subject to U.S. corporate, tax and securities laws. Under U.S.
tax accounting rules, the amount of distributable income for each fiscal
period depends on the actual exchange rates during the entire year between the
U.S. dollar and the currencies in which Fund assets are denominated and on the
aggregate gains and losses realized by the Fund during the entire year.
Therefore, the exact amount of distributable income for each fiscal year can
only be determined as of the end of the Fund's fiscal year, October 31.
However, under the U.S. Investment Company Act of 1940, the Fund is required
to indicate the source of each distribution to shareholders.
The Fund estimates that distributions for the fiscal year commencing
November 1, 2004, including the distribution paid on June 17, 2005, are
comprised of 92% net investment income and 8% return of paid-in capital. This
estimated distribution composition may vary from month to month because it may
be materially impacted by future realized gains and losses on securities and
fluctuations in the value of the currencies in which Fund assets are
denominated.
In January 2006, a Form 1099 DIV will be sent to shareholders, which will
state the amount and composition of distributions paid during 2005, and
provide information with respect to their appropriate tax treatment.
Qualifying U.S. taxpayers are generally entitled to a foreign withholding tax
credit on distributions received. Shareholders will be informed as to the
exact amount of the tax credit shortly after the end of the tax year.
The Fund is managed by Aberdeen Asset Management Asia Limited and advised
by Aberdeen Asset Management Limited. The Fund's shares trade on the American
Stock Exchange and the Pacific Stock Exchange under the symbol "FAX".
If you wish to receive this information electronically, please contact
InvestorRelations@aberdeen-asset.com
SOURCE Aberdeen Asia-Pacific Income Fund, Inc.
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CONTACT:
Aberdeen Asset Management Inc. Investor
Relations, +1-800-522-5465, InvestorRelations@aberdeen-asset.com
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