The First Israel Fund, Inc. Announces Performance Data and Portfolio Composition

PHILADELPHIA, Nov. 2 /PRNewswire-FirstCall/ -- The First Israel Fund, Inc. (the "Fund") (NYSE AMEX: ISL), a closed-end equity fund, announced today its performance data and portfolio composition as of September 30, 2009.

The Fund's total returns for various periods through September 30, 2009 are provided below. (All figures are based on distributions reinvested at the dividend reinvestment price and are stated net-of-fees):

    Period                  NAV Total Return %    Market Price Total Return %
                       Cumulative    Annualized     Cumulative    Annualized


    Since inception       222.1           7.2         193.9              6.6
    (October 1992)
    10-years               97.9           7.1         125.0              8.4
    5-years                70.2          11.2          86.1             13.2
    3-years                21.3           6.6          23.1              7.2
    1-year                        14.6                           35.6

On September 30, 2009, the Fund's net assets amounted to US$63.4 million and the Fund's NAV per share was $14.83.

As of September 30, 2009, the portfolio was invested as follows:

    Portfolio Composition        Percent of Net Assets
    Financials                            31.2
    Other                                 17.5
    Consumer, Non-Cyclical                17.1
    Basic Materials                       11.8
    Communications                        10.5
    Industrials                            8.1
    Technology                             2.3
    Diversified                            1.0
    Consumer, Cyclical                     0.5

The Fund's ten largest equity holdings as of September 30, 2009, representing 68.8% of net assets, were:

    Stock                                              Percent of Net Assets

    Teva Pharmaceutical Industries Limited                     11.7
    United Mizrahi Bank Limited                                 9.9
    Israel Chemicals Limited                                    9.8
    Bezeq The Israeli Telecommunication Corporation
     Limited                                                    9.5
    Check Point Software Tech                                   5.7
    Bank Hapoalim BM                                            4.8
    Bank Leumi Le-Israel BM                                     4.8
    Harel Insurance Investments & Financial Services            4.8
    Perrigo Company                                             4.8
    Shikun & Binui Limited                                      3.0

Important Information
Aberdeen Asset Management Inc. has prepared this report based on information sources believed to be accurate and reliable. However, the figures are unaudited and neither the Fund, Aberdeen Asset Management Investment Services Limited (the Investment Adviser), nor any other person guarantees their accuracy. Investors should seek their own professional advice and should consider the investment objectives, risks, charges and expenses before acting on this information. Aberdeen is a U.S. registered service mark of Aberdeen Asset Management PLC.

Total return figures with distributions reinvested at the dividend reinvestment price are stated net-of-fees and represents past performance. Past performance is not indicative of future results, current performance may be higher or lower. Holdings are subject to change and are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities shown. Inception date October 29, 1992.

If you wish to receive this information electronically, please contact: InvestorRelations@aberdeen-asset.com