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The Spain Fund, Inc. News

The Spain Fund, Inc. Distribution Declaration

NEW YORK, March 20 PRNewswire-FirstCall — The Spain Fund, Inc. (NYSE: SNF), a closed-end management investment company, declared on this date, March 20, 2008, a quarterly distribution of $0.309 per share of Common Stock, payable on April 4, 2008 to shareholders of record at the close of business on March 31, 2008. Ex-date will be March 27, 2008. The quarterly distribution is in accordance with the Fund's policy of paying a quarterly distribution amounting to at least 2.5% of its net asset value, and constitutes exactly that amount.

The Spain Fund, Inc. is managed by AllianceBernstein L.P.

SOURCE The Spain Fund, Inc.

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