U.S. Securities and Exchange Commission Washington, D.C. 20549 FORM N-17f-2 Certificate of Accounting of Securities and Similar Investments in the Custody of Management Investment Companies Pursuant to Rule 17f-2 [17 CFR 270.17f-2] _________________________________________________________________ 1. Investment Company Act File Number: Date examination completed: 811- 5189 May 12, 2004 2. State Identification Number: AL AK AZ AR CA CO CT N/A DE DC FL N/A GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND N/A OH OK OR PA RI N/A SC SD TN TX UT VT VA WA WV WI WY PUERTO RICO Other (specify): 3. Exact number of investment company as specified in registration statement: The Spain Fund, Inc. 4. Address of principal executive office: (number, street, city, state, zip code) 1345 Avenue of the Americas, New York, New York 10105