For Immediate Release
                                                         ---------------------


                             The India Fund, Inc.
                       Announces Results of Tender Offer

          New York, NY, October 4, 2002 -- The India Fund, Inc. (the "Fund")
announced today that, in accordance with its tender offer for up to 3,063,433
of its issued and outstanding shares of common stock, which expired on Friday,
September 27, 2002, the Fund has accepted that number of shares for payment
today at $10.84 per share. These shares represent 10% of the Fund's
outstanding shares.

          A total of 23,767,549.7943 shares were properly tendered and not
withdrawn by September 27, 2002 the final date for withdrawals. Therefore, in
accordance with the terms of the tender offer, the Fund is purchasing shares
on a pro rata basis for all tendering stockholders, other than stockholders
holding 99 or less shares who tendered all their shares and for whom the Fund
is accepting all shares properly tendered (aggregating 97,096.0273 shares).
Accordingly, on a pro rata basis, 12.53178% of shares for each stockholder who
properly tendered 100 or more shares has been accepted for payment.

          The India Fund, Inc. is a closed-end management investment company
that seeks long-term capital appreciation by investing primarily in Indian
equity securities. The Fund is traded on the New York Stock Exchange under the
trading symbol "IFN". Advantage Advisers, Inc., a subsidiary of CIBC World
Markets Corp., serves as Investment Manager to the Fund.

          Periodically updated information on the Fund can be obtained through
the Fund's toll-free phone line at (800) 421-4777. Information provided
includes a recorded update including monthly portfolio manager commentary,
weekly NAV calculation and other information.




          This press release may contain statements regarding plans and
expectations for the future that constitute forward-looking statements within
the Private Securities Litigation Reform Act of 1995. All statements other
than statements of historical fact are forward-looking and can be identified
by the use of words such as "may," "will," "expect," "anticipate," "estimate,"
"believe," "continue" or other similar words. Such forward-looking statements
are based on the Fund's current plans and expectations, and are subject to
risks and uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. Additional information
concerning such risks and uncertainties are contained in the Fund's filings
with the Securities and Exchange Commission.

          Contact: Advantage Advisers, Inc., 1-800-421-4711.