NEW YORK, July 31 /PRNewswire-FirstCall/ -- The Spain Fund, Inc. (the "Fund" - NYSE: SNF) announced today that the Fund's Board of Directors (the "Board") has approved the suspension of the Fund's managed distribution policy. The Fund will suspend payments under its managed distribution policy effective after the distribution in the third quarter of 2009. On an annual basis, the Fund will continue to make distributions in order to meet distribution requirements under the Internal Revenue Code, if needed, in the fourth quarter. The Fund is a closed-end U.S.-registered management investment company advised by AllianceBernstein L.P. with total assets of approximately $63.75 million. DATASOURCE: The Spain Fund, Inc. CONTACT: Shareholder Contact: +1-800-221-5672

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