NEW YORK, Jan. 26 /PRNewswire-FirstCall/ -- The Ibero-America Fund, Inc. (NYSE:SNF) (the "Fund") today released its monthly portfolio update as of December 31, 2009. Top 10 Equity Holdings Portfolio % Sector 1)Telefonica SA 21.45% Telecommunication Services 2)Banco Santander Central Hispano SA 14.63% Financials 3)Banco Bilbao Vizcaya Argentaria SA 7.80% Financials 4)Iberdrola SA 4.93% Utilities 5)Repsol YPR SA 4.86% Energy 6)Enagas 3.75% Utilities 7)Inditex SA 3.63% Consumer Discretionary 8)America Movil SAB de CV Series L 3.03% Telecommunication Services 9)Abertis Infraestructuras S 2.63% Industrials 10)Ebro Puleva SA 2.62% Consumer Staples Sector/Industry Breakdown Portfolio % Financials: Commercial Banks 24.73% Diversified Financial Services 5.55% Insurance 2.35% Consumer Finance 0.95% SUBTOTAL 33.58% Telecommunication Services: Diversified Telecommunication Services 21.45% Wireless Telecommunication Services 3.03% SUBTOTAL 24.48% Utilities: Electric Utilities 5.66% Gas Utilities 4.80% Independent Power Producers & Energy 1.50% Traders SUBTOTAL 11.96% Industrials: Construction & Engineering 5.20% Transportation Infrastructure 2.63% Commercial Services & Supplies 1.88% Electrical Equipment 1.16% Airlines 0.46% Machinery 0.43% SUBTOTAL 11.76% Energy: Oil, Gas & Consumable Fuels 4.86% Energy Equipment & Services 1.76% SUBTOTAL 6.62% Consumer Discretionary: Specialty Retail 3.63% Household Durables 0.51% Hotels, Restaurants & Leisure 0.47% SUBTOTAL 4.61% Information Technology: IT Services 2.60% Communications Equipment 0.79% SUBTOTAL 3.39% Consumer Staples: Food Products 2.62% Materials: Metals & Mining 0.85% Short-Term Investments 0.13% Total 100.00% Security Type Breakdown Portfolio% Common Stocks: Foreign 99.87% Short-Term Investments 0.13% Total 100.00% Country Breakdown Portfolio% Spain 90.83% Mexico 4.48% Portugal 3.03% Brazil 1.53% Short-Term 0.13% Total 100.00% Portfolio Statistics Total Net Assets: $71.7 Million Net Asset Value: $8.05 Number of Holdings: 38 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. DATASOURCE: The Ibero-America Fund, Inc. CONTACT: Shareholder Contact for The Ibero-America Fund, Inc., +1-800-221-5672

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