IBEROAMER 
By Top 10 Equity Holdings
Portfolio % Country
1) Telefonica SA 21.10% Spain
2) Iberdrola SA 13.43% Spain
3) Banco Santander Central Hispano SA 11.51% Spain
4) Banco Bilbao Vizcaya Argentaria SA 6.36% Spain
5) Red Electrica Corp. SA 5.25% Spain
6) Enagas 4.84% Spain
7) Repsol YPF SA 4.78% Spain
8) Indra Sistemas SA 4.52% Spain
9) ACS Actividades de Construccion 3.04% Spain
y Servicios SA
10) Grifols SA 2.78% Spain
Sector/Industry Breakdown
Portfolio%
Utilities:
Electric & Gas Utility 27.65%
Telephone Utility 21.10%
Miscellaneous 1.48%
SUBTOTAL 50.23%
Finance:
Banking - Money Center 17.88%
Miscellaneous 3.30%
SUBTOTAL 21.18%
Capital Goods:
Engineering & Construction 6.69%
Energy:
International 4.78%
Miscellaneous 1.53%
SUBTOTAL 6.31%
Technology:
Computer Services 4.52%
Consumer Services:
Cellular Communications 2.12%
Miscellaneous 1.55%
Apparel 0.31%
SUBTOTAL 3.98%
Health Care:
Miscellaneous 2.78%
Consumer Staples:
Food 2.75%
Basic Industry:
Mining & Metals 1.56%
Total 100.00%
Security Type Breakdown
Portfolio%
Common Stocks:
Foreign 100.00%
Total 100.00%
Country Breakdown
Portfolio%
Spain 97.88%
Mexico 2.12%
Total 100.00%
Portfolio Statistics
Total Net Assets: $58.7 Million
Net Asset Value: $6.59
Number of Holdings: 24
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 Spain Fund, Inc.
