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EXHIBIT (k)(3)
AMENDMENT TO
ADMINISTRATION AGREEMENT
Amendment dated as of June 1, 1996 to the Administration Agreement
between The First Australia Prime Income fund, Inc., a Maryland corporation (the
"Fund"), and Prudential Investments Fund Management LLC, a Delaware limited
liability company (the "Administrator"), dated December 9, 1988 (the
"Agreement").
In consideration of the mutual promises herein contained, the
Corporation and the Investment Manager hereby agree as follows:
1. Section 3 of the Agreement is hereby amended to read in its
entirety as follows:
"The Fund will pay the Administrator a fee at the annual rate
of 0.15% of the Fund's average weekly net assets applicable to Common
and Preferred Stock up to $900 million, 0.10% of such assets between
$900 million and $1,750 million and 0.07% of such assets in excess of
$1,750 million, computed based upon net asset value applicable to
Common and Preferred Stock at the end of each week and payable at the
end of each calendar month."
Except as set forth above, the terms of the Agreement shall
remain unchanged.
IN WITNESS WHEREOF, the parties hereto have caused this instrument
to be executed by their officers designated below effective as of the day and
year first above written.
THE FIRST AUSTRALIA PRIME
INCOME FUND, INC.
By: /s/ Xxxxx Xxxxx
___________________________
Name: Xxxxx Xxxxx
Title: Treasurer
PRUDENTIAL INVESTMENTS FUND
MANAGEMENT LLC
By: /s/ Xxxxxx Xxxxx
____________________________
Name: Xxxxxx Xxxxx
Title: Vice President
