UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 22)

Aberdeen Australia Equity Fund, Inc.

(Name of Issuer)

 

Common Stock, par value $.01 per share

(Title of Class of Securities)

 

318652104

(CUSIP Number)

 

Moritz Sell

Landesbank Berlin AG

Alexanderplatz 2

D-10178 Berlin

Germany

+44.20.7572.6200

_____________________________________________________________________________________________

(Name, Address and Telephone Number of Person Authorized to

Receive Notices and Communications)

 

April 17, 2008

(Date of Event which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-l(e), 240.13d-l(f) or 240.13d-l(g), check the following box. o

 

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CUSIP No. 889050 10 0

 

 

 

 

 

 

 

Shares Bene-

Owned by Each

Person with:

 

12.         Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

o

 

11.4%

 

 

BK

 

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This Amendment No. 22 amends and supplements items 2 and 5 of the Statement on Schedule 13D of Landesbank Berlin AG (“LB”), a wholly owned subsidiary of Landesbank Berlin Holding AG (the “Parent”), which is in turn controlled by Erwerbsgesellschaft der S-Finanzgruppe mbH & Co. KG, a German limited partnership, with respect to the shares of Common Stock, par value $.01 per share (the "Common Stock"), of the Aberdeen Australia Equity Fund, Inc. (the "Fund"). Statements that are not modified in this amendment are not amended and remain as previously reported.

Item 2. Identity and Background

The amendment to Annex B attached hereto sets forth the name, address and principal occupation of each director and executive officer of LB. Based on the information about the persons listed on Annex B that is available to the Parent and LB pursuant to German labor law (including a police certificate of no criminal record), neither the Parent nor LB is aware of any information to the effect that any such person has during the last five years been party to any criminal or civil proceeding. All of the individuals listed on Annex B are citizens of the Federal Republic of Germany.

 

Item 5. Interest in Securities of the Issuer

 

(a) According to the Fund’s definitive proxy statement filed on February 19, 2008, there were 19,184,686 shares of Common Stock outstanding at February 8, 2008. The percentage set forth in this Item 5(a) is derived using such number. LB has sole power to vote and dispose of 2,190,509 shares of Common Stock, which constitute approximately 11.4% of the outstanding shares of Common Stock.

(c) During the last sixty days, LB has effected the following sales of shares of Common Stock in at-the-market transactions on the American Stock Exchange pursuant to the Registration Statement (as that term is defined in Amendment No. 21 to this Statement on Schedule 13D):

 

 

 

Signature

After reasonable inquiry and to the best of the undersigned’s knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct.

Date: April 28, 2008

 

 

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Annex B

Unless otherwise indicated, the business address for all individuals listed in this Annex B is Landesbank Berlin AG, Alexanderplatz 2, D-10178 Berlin, Federal Republic of Germany.

 

Landesbank Berlin AG

 

Members of the Managing Board

 

 

Executive Officers

 

 

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