URGENT NOTICE
                                -------------

September 18, 1997

Dear Nomura Pacific Basin Fund, Inc. Shareholder:

The Special Meeting of Shareholders of the Nomura Pacific Basin Fund, Inc. is
scheduled to be held on September 24, 1997, and  we have attempted to contact
you  by telephone to discuss  the important meeting agenda.   To date we have
been unable to reach you by phone.

It is extremely important  that we discuss this critical Special  Meeting and
the events surrounding it with you.  We would appreciate it if you would take
a  moment  and  please  call  during business  hours,  our  proxy  solicitor,
Corporate Investor Communications, Inc. (CIC) at (888) 881-0523.

YOUR VOTE IS IMPORTANT, NO MATTER HOW LARGE OR SMALL YOUR HOLDINGS MAY BE.

Thank you for your interest in the affairs of the Nomura Pacific  Basin Fund,
Inc.  I appreciate your cooperation.

                              On behalf of the Board of Directors,



                              Haruo Sawada
                              President