In the past, it was suggested that localization can be achieved for acoustic waver propagation in liquids with even a very small concentration of air-filled bubbles. In this paper we present an ab initio numerical investigation of acoustic localization in bubbly liquids. The results show that the localization of acoustic waves is reached:hed when the bubble volume fraction is greater than a threshold value about 10(-5). This is in good agreement with the previous prediction . (C) 1999 Elsevier Science B.V.