The Ibero-America Fund Releases Monthly Portfolio Update

NEW YORK, June 29 /PRNewswire-FirstCall/ -- The Ibero-America Fund, Inc. (NYSE: SNF) (the "Fund") today released its monthly portfolio update as of May 31, 2010.

    
    
           Top 10 Equity Holdings
                                              Portfolio %         Sector
        1)Telefonica SA                         14.72%      Telecommunication
                                                                 Services
        2)Banco Santander Central Hispano SA    11.92%          Financials
        3)Inditex SA                             6.16%           Consumer
                                                              Discretionary 
        4)Banco Bilbao Vizcaya Argentaria SA     5.91%          Financials
        5)America Movil SAB de CV Series L       5.26%      Telecommunication
                                                                 Services
        6)Respol YPF SA                          4.96%            Energy
        7)Iberdrola SA                           3.14%          Utilities
        8)Obrascon Huarte Lain SA                3.01%         Industrials
        9)Ebro Puleva                            2.88%           Consumer
                                                                 Staples
       10)Viscofan SA                            2.54%           Consumer
                                                                 Staples
    
    
    Sector/Industry Breakdown
                                        
                                                          Portfolio %
         Financials:
             Commercial Banks                                  21.35%
             Diversified Financial Services                     6.04%
             Consumer Finance                                   1.68%
             Insurance                                          1.59%
             Real Estate Management & Development               0.93%
             SUBTOTAL                                          31.59%
         Telecommunication Services:
             Diversified Telecommunication Services            14.72%
             Wireless Telecommunication Services                5.26%
             SUBTOTAL                                          19.98%
         Consumer Staples:
             Food Products                                      5.96%
             Food & Staples Retailing                           1.88%
             Beverages                                          1.43%
             SUBTOTAL                                           9.27%
         Consumer Discretionary:
             Specialty Retail                                   6.16%
             Household Durables                                 0.99%
             Multiline Retail                                   0.97%
             Diversified Consumer Services                      0.43%
             SUBTOTAL                                           8.55%
         Utilities:
             Electric Utilities                                 3.82%
             Gas Utilities                                      2.52%
             Independent Power Producers & Energy               1.59%
             Traders                                                    
             SUBTOTAL                                           7.93%   
         Industrials:
             Construction & Engineering                         3.01%
             Transportation Infrastructure                      2.32%
             Commercial Services & Supplies                     2.21%
             SUBTOTAL                                           7.54%
         Energy:
             Oil, Gas & Consumable Fuels                        4.96%
             Energy Equipment & Services                        2.52%
             SUBTOTAL                                           7.48%
         Materials:
             Metals & Mining                                    4.97%
             Paper & Forest Products                            0.97%
             SUBTOTAL                                           5.94%
         Health Care:
             Health Care Providers & Services                   0.85%
         Information Technology:
             IT Services                                        0.75%
         Short-Term Investments                                 0.12%
         Total                                                100.00%
    
    
    Security Type Breakdown
                                           
                                                           Portfolio%
         Common Stocks:
            Foreign                                            99.77%
         Rights:
            Foreign                                             0.11%
         Short-Term Investments                                          
            Investment Companies                                0.12%
         Total                                                100.00%
    
    Country Breakdown
                                                           Portfolio%
                Spain                                          73.88%
                Brazil                                         13.56%
                Mexico                                         10.93%
                Portugal                                        1.07%
                Chile                                           0.44%
                Short-Term                                      0.12%
                Total                                         100.00%
    
    
    Portfolio Statistics
           Total Net Assets:        $53.5 Million
           Net Asset Value:         $6.00
           Number of Holdings:      45

The foregoing portfolio characteristics are as of the date indicated and can be expected to change.  The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L. P.

SOURCE The Ibero-America Fund, Inc.

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