Article: The Italy Fund Inc. Announces Results of Tender Offer.

NEW YORK, July 24 /PRNewswire/ --

The Italy Fund Inc. (NYSE: ITA) announced today that, in accordance with its tender offer for up to 1,691,573 shares of its common stock which expired on July 19, 2001, the Fund has accepted that number of shares for payment today at a price of $7.92 per share. These shares represent 25% of the Fund's outstanding shares. A total of 4,381,047.047 shares were properly tendered; therefore, on a pro-rated basis, 38.61% (full ...

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