SunAmerica Focused Alpha Large-Cap Fund Announces Declaration of Dividend Distribution

JERSEY CITY, N.J.--(Business Wire)--
Sunamerica Focused Alpha Large-Cap Fund, Inc. (NYSE: FGI), a closed-end fund
(the "Fund"), today announced that its Board of Directors approved the
declaration of a quarterly dividend distribution in accordance with the Fund`s
level dividend distribution policy (the "Distribution Policy") and approved the
dividend distribution of $0.05 per share of common stock, which represents a
reduction from the Fund`s most recent quarterly dividend distribution of $0.20
per share. This reduction was made after consideration of a number of factors,
including, but not limited to, the severe downturn in the equity markets since
late 2007 and the resulting decline in the Fund`s assets, and the potential
adverse impact that continued payment of a higher dividend distribution at the
current time could have on the Fund`s size and expense ratio. Given the current
market and economic environment, this reduced dividend distribution rate will
better enable the Fund to pursue its investment objective of providing growth of
capital. The declaration date is May 27, 2009, the ex-dividend date is June 11,
2009, the record date is June 15, 2009 and the payable date is June 25, 2009.

Under the Distribution Policy, the Fund intends to pay level quarterly dividend
distributions and increase, if necessary, the amount payable for the fourth
quarter to an amount expected to satisfy the minimum distribution requirements
of the Internal Revenue Code of 1986, as amended. Each quarter, the Board of
Directors will review the amount of any potential dividend distribution and the
income, capital gains and capital available. The Distribution Policy and
dividend distribution rate set forth above may be terminated or modified at any
time.

Shareholders will receive a notice (the "Notice") with each dividend
distribution, if required by Section 19(a) under the 1940 Act, estimating the
sources of such dividend distribution and providing other information required
by the Order. The Notice will also be made available on the Fund`s website:
www.sunamericafunds.com. In addition, the Fund will issue a press release at the
time the Notice is mailed to shareholders containing the same information that
is included in the Notice. The amounts and sources of dividend distributions
reported in the Notice are only estimates and are not provided for tax reporting
purposes. The final determination of the source of all dividend distributions in
2009 will be made after year-end. The actual amounts and sources of the amounts
for tax reporting purposes will depend upon the Fund`s investment experience
during the remainder of the fiscal year and may be subject to change based on
tax regulations. The Fund will send shareholders a Form 1099-DIV for the
calendar year that will tell the shareholder how to report these dividend
distributions for federal income tax purposes. You should not draw any
conclusions about the Fund`s investment performance from the amount of this
dividend distribution or from the terms of the Distribution Policy.

Pursuant to an exemptive order (the "Order") granted to the Fund by the
Securities and Exchange Commission ("SEC") on February 3, 2009, the Fund may
distribute any long-term capital gains more frequently than the limits provided
in Section 19(b) under the Investment Company Act of 1940, as amended (the "1940
Act") and Rule 19b-1 thereunder. Therefore, dividend distributions paid by the
Fund during the year may include net income, long-term capital gains, short-term
capital gains and/or return of capital.Net income dividends and short-term
capital gain dividends, while generally taxable at ordinary income rates, may be
eligible, to the extent of qualified dividend income earned by the Fund, to be
taxed at lower long-term capital gain rates. If the total distributions made in
any calendar year exceed investment company taxable income and net capital gain,
such excess distributed amount would be treated as ordinary dividend income to
the extent of the Fund`s current and accumulated earnings and profits.
Distributions in excess of the earnings and profits would first be a tax-free
return of capital to the extent of the adjusted tax basis in the shares. After
such adjusted tax basis is reduced to zero, the distribution would constitute
capital gain (assuming the shares are held as capital assets). A return of
capital may occur, for example, when some or all of the money invested in the
Fund by a shareholder is paid back to the shareholder. A return of capital
distribution does not necessarily reflect the Fund`s investment performance and
should not be confused with "yield," "income" or "profit."

The Fund is a non-diversified, closed-end management investment company. The
Fund`s investment objective is to provide growth of capital. The Fund seeks to
pursue this objective by employing a concentrated stock picking strategy in
which the Fund, through subadvisers selected by SunAmerica Asset Management
Corp., actively invests primarily in a small number of equity securities (i.e.,
common stocks) and to a lesser extent equity-related securities (i.e., preferred
stocks, convertible securities, warrants and rights) of large capitalization
companies primarily in the U.S. markets. Marsico Capital Management, LLC is the
large-cap growth stock subadviser and BlackRock Investment Management, LLC is
the large-cap value stock subadviser.

For more information about the SunAmerica Focused Alpha Large-Cap Fund, please
visit www.sunamericafunds.com.

As of April 30, 2009, SunAmerica Asset Management Corp. managed and/or
administered approximately $34 billion of assets.

Marsico Capital Management, LLC and BlackRock Investment Management, LLC are not
affiliated with SunAmerica Asset Management Corp.

Investors should carefully consider the SunAmerica Focused Alpha Large-Cap
Fund`s investment objective, strategies, risks, charges, expenses and
Distribution Policy before investing.

THE SUNAMERICA FOCUSED ALPHA LARGE-CAP FUND SHOULD BE CONSIDERED AS ONLY ONE
ELEMENT OF A COMPLETE INVESTMENT PROGRAM. THE FUND`S EQUITY EXPOSURE AND
DERIVATIVE INVESTMENTS INVOLVE SPECIAL RISKS. AN INVESTMENT IN THIS FUND SHOULD
BE CONSIDERED SPECULATIVE.

There is no assurance that the SunAmerica Focused Alpha Large-Cap Fund will
achieve its investment objective. The Fund is actively managed and its portfolio
composition will vary. Investing in the Fund is subject to several risks,
including: Non-Diversified Status Risk, Growth and Value Stock Risk, Key Adviser
Personnel Risk, Investment and Market Risk, Issuer Risk, Foreign Securities
Risk, Emerging Markets Risk, Income Risk, Hedging Strategy Risk, Derivatives
Risk, Preferred Securities Risk, Debt Securities Risk, Small and Medium
Capitalization Company Risk, Leverage Risk, Liquidity Risk, Market Price of
Shares Risk, Management Risk, Anti-Takeover Provisions Risk, Portfolio Turnover
Risk and Non-Investment Grade Securities Risk. The price of shares of the Fund
traded on the New York Stock Exchange will fluctuate with market conditions and
may be worth more or less than their original offering price. Shares of
closed-end funds often trade at a discount to their net asset value, but may
also trade at a premium.

The payment of dividend distributions in accordance with the Distribution Policy
may result in a decrease in the Fund`s net assets. A decrease in the Fund`s net
assets may cause an increase in the Fund`s annual operating expenses and a
decrease in the Fund`s market price per share to the extent the market price
correlates closely to the Fund`s net asset value per share. The Distribution
Policy may also negatively affect the Fund`s investment activities to the extent
that the Fund is required to hold larger cash positions than it typically would
hold or to the extent that the Fund must liquidate securities that it would not
have sold or hold securities that it would liquidate, for the purpose of paying
the dividend distribution. The Distribution Policy, may under certain
circumstances, result in the amounts of taxable distributions to exceed the
levels required to be distributed under the Internal Revenue Code of 1986, as
amended (i.e., to the extent the Fund has capital losses in any taxable year,
such losses may be carried forward to reduce the amount of capital gains
required to be distributed in future years if distributions in a year exceed the
amount minimally required to be distributed under the tax rules, such excess
will be taxable as ordinary income to the extent loss carryforwards reduce the
required amount of capital gains in that year). The Fund`s Board of Directors
has the right to amend, suspend or terminate the Distribution Policy at any time
without notice to shareholders. The amendment, suspension or termination of the
Distribution Policy could have a negative effect on the Fund`s market price per
share which, in turn, could create or widen a trading discount. Shareholders of
shares of the Fund held in taxable accounts who receive a dividend distribution
(including shareholders who reinvest in shares of the Fund pursuant to the
Fund`s dividend reinvestment policy) must adjust the cost basis to the extent
that a dividend distribution contains a nontaxable return of capital. Investors
should consult their tax adviser regarding federal, state and local tax
considerations that may be applicable in their particular circumstances.

SunAmerica Asset Management Corp.
Linda Skolnick, 310-772-6533
Senior Public Relations Associate
or
Betsy Treitler, 201-324-6874
Vice President, Marketing/Communications

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