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Aberdeen Asia-Pacific Income boasts 14.9% price return

Aberdeen Asia-Pacific Income Investment Company Ltd (C:FAP) Shares Issued 49,670,757 Last Close 7/30/2007 $7.93 Tuesday July 31 2007 - News Release

An anonymous director reports

ABERDEEN ASIA-PACIFIC INCOME INVESTMENT COMPANY LIMITED ANNOUNCES PERFORMANCE DATA AND PORTFOLIO COMPOSITION

Aberdeen Asia-Pacific Income Investment Company Ltd. today released performance data and portfolio composition details as of June 30, 2007.

The company's total returns for various periods through June 30, 2007, are provided in the attached table. (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net of fees.)



Market price

Period NAV total return (%) total return (%)



Cumulative Annualized Cumulative Annualized

Since inception

(June, 1986) 471.6 8.7 430.2 8.3



10 years 48.3 4.0 40.0 3.4

Five years 32.9 5.9 42.7 7.4

Three years 11.0 3.5 20.2 6.3

One year 11.4 14.9


As of June 30, 2007, the company's net assets, including $130-million in bank borrowing, amounted to $540.8-million with a net asset value per share of $8.27.

As of June 30, 2007, 53.2 per cent of the portfolio was invested in securities where either the issue or the issuer was rated "A" or better, or judged by the investment manager to be of equivalent quality. The credit quality and maturity breakdown of the portfolio was as follows:

As of June 30, 2007, the average maturity of the portfolio was 9.3 years.

A revolving credit loan facility, in the amount of $120-million, was entered into on Oct. 5, 2006, with the Bank of Nova Scotia, in order to finance the redemption of the company's auction market preferred stock (AMPS) that took place in October, 2006. In November, 2006, approximately 25 per cent of the loan was drawn in Canadian dollars in place of U.S. dollars. The leverage is used with the intent of enhancing returns by borrowing at interest rates that are lower than the relatively higher yields of the Asian-Pacific fixed income securities in which the company invests. The company has entered into interest rate swap agreements in order to fix the interest payable on a total notional amount of $76.8-million, which represents 64 per cent of the bank loan facility. Details regarding the revolving credit loan facility and the interest rate swap are contained in the company's annual and semi-annual reports to shareholders.

© 2007 Canjex Publishing Ltd.