NEW YORK, Dec. 20 /PRNewswire-FirstCall/ -- The Spain Fund, Inc. (NYSE: SNF), a closed-end management investment company, declared on this date, December 20, 2005, a quarterly distribution of $0.260 per share of Common Stock, payable on January 6, 2006 to shareholders of record at the close of business on December 30, 2005. Ex-date will be December 28, 2005. 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 Alliance Capital Management L.P. DATASOURCE: The Spain Fund, Inc. CONTACT: Shareholder Contact, The Spain Fund, Inc., +1-800-221-5672 Web site: http://www.alliancecapital.com/

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