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

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. The declaration date is December 7, 2010, the ex-dividend date is December 16, 2010, the record date is December 20, 2010, and the payable date is December 30, 2010.

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 Investment Company Act of 1940, as amended (the "1940 Act”), estimating the sources of such dividend distribution and providing other information required by an exemptive order (the "Order”) granted to the Fund by the Securities and Exchange Commission ("SEC”) on February 3, 2009, pursuant to which the Fund may distribute any long-term capital gains more frequently than the limits provided in Section 19(b) under the 1940 Act and Rule 19b-1 thereunder. 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 2010 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 the Order, 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 October 31, 2010, SunAmerica Asset Management Corp. managed and/or administered approximately $41.9 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, 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.