The Ibero-America Fund Releases Monthly Portfolio Update

The Ibero-America Fund, Inc.

Top 10 Equity Holdings w/Sector

Portfolio %

Sector

1)

Banco Santander SA

12.76%

Financials

2)

Telefonica SA

11.02%

Telecommunication Services

3)

Inditex SA

6.90%

Consumer Discretionary

4)

Banco Bilbao Vizcaya Argentaria SA

6.13%

Financials

5)

America Movil SAB de CV

5.88%

Telecommunication Services

6)

Repsol YPF SA

4.97%

Energy

7)

Investimentos Itau SA (Preference Shares)

4.25%

Financials

8)

Iberdrola SA

3.01%

Utilities

9)

Obrascon Huarte Lain SA

2.76%

Industrials

10)

Ebro Puleva SA

2.56%

Consumer Staples

Sector/Industry Breakdown

Portfolio %

Financials

Commercial Banks

24.12%

Diversified Financial Services

5.81%

Consumer Finance

1.74%

Insurance

1.70%

Real Estate Management & Development

0.94%

SUBTOTAL

34.31%

Telecommunication Services

Diversified Telecommunication Services

11.02%

Wireless Telecommunication Services

5.88%

SUBTOTAL

16.90%

Consumer Discretionary

Specialty Retail

6.90%

Household Durables

1.95%

Multiline Retail

1.18%

Diversified Consumer Services

0.89%

SUBTOTAL

10.92%

Consumer Staples

Food Products

5.93%

Food & Staples Retailing

1.98%

Beverages

1.40%

SUBTOTAL

9.31%

Utilities

Electric Utilities

3.64%

Gas Utilities

2.81%

Independent Power Producers & Energy

1.19%

Traders

SUBTOTAL

7.64%

Energy

Oil, Gas & Consumable Fuels

4.97%

Energy Equipment & Services

2.35%

SUBTOTAL

7.32%

Industrials

Construction & Engineering

2.76%

Commercial Services & Supplies

2.19%

Transportation Infrastructure

1.92%

SUBTOTAL

6.87%

Materials

Metals & Mining

4.72%

Paper & Forest Products

0.84%

SUBTOTAL

5.56%

Health Care

Health Care Providers & Services

1.04%

SUBTOTAL

1.04%

Short-Term Investments

0.13%

Total

100.00%

Security Type Breakdown

Portfolio %

Common Stocks:

Foreign

99.87%

Short-Term Investments:

Investment Companies

0.13%

Total Investments

100.00%

Country Breakdown

Portfolio %

Spain

70.76%

Brazil

17.04%

Mexico

11.44%

Portugal

0.63%

Short-Term

0.13%

Total Investments

100.00%

Portfolio Statistics:

Total Net Assets:

$62.0

Net Asset Value:

$6.96

Number of Holdings:

42