The First Israel Fund, Inc. (NYSE AMEX: ISL)

Investment Objective:

The principal investment objective of the Fund is long-term capital appreciation through investing primarily in equity securities of Israeli companies.

Investment Policies:

It is the policy of the Fund to invest its assets in Israeli equity securities. For these purposes, “Israeli securities” includes common and preferred stock, warrants, options and debt securities organized under the laws of Israel.

The information contained above provides only a brief summary description of the Fund's investment objectives and investment policies. Please contact Aberdeen Investor Relations should you wish to receive more detailed information regarding the Fund.