THE ASIA TIGERS FUND, INC.
                                622 THIRD AVENUE
                            NEW YORK, NEW YORK 10017

DEAR STOCKHOLDER:

         At a meeting  held on November 7, 2001,  the Board of  Directors of The
Asia Tigers Fund,  Inc. (the "Fund"),  approved a tender offer for shares of the
Fund's  common  stock.  Accordingly,  the Fund is hereby  commencing an offer to
purchase up to 25% of the Fund's  outstanding  shares of common stock. The offer
is for cash at a price  equal to 95% of the  Fund's  net  asset  value per share
("NAV")  as of the  close of  regular  trading  on the New York  Stock  Exchange
("NYSE") on March 15,  2002,  or such later date to which the Offer is extended,
upon the terms and  conditions  set forth in the enclosed  Offer to Purchase and
related Letter of Transmittal (which together constitute the "Offer").

         The Offer is intended to provide tendering  Stockholders with a benefit
to the extent  that the tender  price is above the  trading  price of the Fund's
shares of common  stock.  The deadline for  participating  in the Offer is 11:59
p.m., New York City time,  March 15, 2002, or such later date to which the Offer
is extended  (the  "Termination  Date").  The pricing  date for the Offer is the
close of  regular  trading  on the NYSE on March 15,  2002,  unless the Offer is
extended (the "Pricing  Date").  Should the Offer be extended,  the Pricing Date
will be the  close  of  regular  trading  on the  NYSE on the  same  date as the
Termination  Date, as extended.  Stockholders  who choose to  participate in the
Offer can expect to receive  payment for shares tendered and accepted as soon as
reasonably practicable after the Termination Date of the Offer.

         If, after carefully  evaluating all information set forth in the Offer,
you wish to tender  shares  pursuant  to the  Offer,  please  either  follow the
instructions contained in the Offer or, if your shares are held of record in the
name of a broker,  dealer,  commercial  bank,  trust  company or other  nominee,
contact  such firm to  effect  the  tender  for you.  Stockholders  are urged to
consult  their own  investment  and tax  advisors  and make their own  decisions
whether to tender any shares.

         As of  February  8,  2002,  the  Fund's  NAV was  $8.63  per  share and
19,442,984.252  shares  were issued and  outstanding.  The Fund's NAV during the
pendency  of this Offer may be  obtained  by  contacting  Georgeson  Shareholder
Communications  Inc., the Fund's Information Agent, toll free at 866-514-6804 or
collect at 212-440-9800 (Attention: Artie Kenniff).

         Neither the Fund nor its Board of Directors (the "Board") is making any
recommendation  to any  Stockholder  whether to tender or refrain from tendering
shares in the Offer.  The Fund and the Board urge each  Stockholder  to read and
evaluate  the  Offer and  related  materials  carefully  and make his or her own
decision.

         Questions,  requests for assistance and requests for additional  copies
of this Offer and related materials should be directed to Georgeson  Shareholder
Communications Inc. at 866-514-6804 or collect at 212-440-9800 (Attention: Artie
Kenniff).


                                                    Sincerely,

                                                    /S/BRYAN  McKIGNEY

                                                    BRYAN  McKIGNEY
                                                    President and Secretary
                                                    THE ASIA TIGERS FUND,  INC.
                                                    February 15, 2002