FOR IMMEDIATE RELEASE For More Information Contact: Aberdeen Asset Management Inc. Investor Relations 866-839-5205 InvestorRelations@aberdeen-asset.com THE ASIA TIGERS FUND, INC. ANNOUNCES MEETING AND RECORD DATE FOR SPECIAL MEETING OF STOCKHOLDERS TO CONSIDER ELIMINATION OF THE INTERVAL FUND STRUCTURE AS A FUNDAMENTAL POLICY OF THE FUND AND TARGETED DISCOUNT POLICY (Philadelphia, November 18, 2013) –The Asia Tigers Fund, Inc. (the “Fund”) (NYSE: GRR), a closed-end equity fund, announced today that its Board of Directors (the “Board”) approved the elimination of its interval fund structure, subject to stockholder approval. The Fund also announced that a special meeting of stockholders (“Special Meeting”) will be held on February 3, 2014, to consider the elimination of the interval fund structure, a fundamental policy of the Fund (“Policy”) pursuant to Section 23c-3 of the Investment Company Act of 1940, as amended. The Board recommends that stockholders approve the elimination of the interval structure. The Fund has set December 6, 2013 as a record date for determining stockholders entitled to vote at the Special Meeting. The Fund has an investment objective of long-term capital appreciation which it seeks to achieve by investing primarily in equity securities of Asian companies. In addition to the performance of the Fund’s net asset value (“NAV”) consistent with its stated objective, the Fund has sought to narrow the discount to NAV at which Fund shares traded on the New York Stock Exchange. At a special meeting of stockholders on April 26, 2002, stockholders approved a proposal converting the Fund to an “interval structure,” pursuant to which the Fund would make semi-annual offers to repurchase its outstanding shares. The Board believes that eliminating the Policy, which requires share repurchases to be made irrespective of the Fund’s discount to NAV or prevailing market conditions, will allow the Board greater opportunity and flexibility when evaluating and pursuing other measures to address the discount. The purpose of this statement is to assure Fund stockholders that the proposed elimination of the Policy isnot abandonment by the Fund or the Board of efforts to reduce the stock price discount. The Board intends to direct the Fund to take the following actions as part of a comprehensive strategy to reduce the stock price discount. Targeted Discount Policy and Open-Market Repurchases The Board also announces the extension of a targeted discount policy to seek to manage the Fund’s discount, which would become effective if stockholders approve the elimination of the Policy. Under the targeted discount policy, the Fund intends to buy back shares of common stock in the open market at times when the Fund’s shares trade at a discount of 10% or more to NAV. |