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

SOURCE The First Israel Fund, Inc.

Aberdeen Asset Management Inc. Investor Relations, +1-866-839-5205,
InvestorRelations@aberdeen-asset.com