OFFER BY
THE INDIA FUND, INC.
TO PURCHASE FOR CASH
UP TO 10% OF THE FUND'S OUTSTANDING
SHARES OF COMMON STOCK
THE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 11:59 P.M.,
NEW YORK CITY TIME, ON SEPTEMBER 27, 2002 ("TERMINATION DATE")
THIS OFFER IS NOT CONDITIONED ON ANY MINIMUM NUMBER OF SHARES BEING
TENDERED, BUT IS SUBJECT TO OTHER CONDITIONS AS OUTLINED IN THE FUND'S ISSUER
TENDER OFFER STATEMENT AND IN THE LETTER OF TRANSMITTAL.
August 30, 2002
To Brokers, Dealers, Commercial Banks,
Trust Companies and Other Nominees:
We are enclosing herewith the material listed below relating to the offer
of The India Fund, Inc., a Maryland corporation registered under the Investment
Company Act of 1940, as amended, as a closed-end, non-diversified management
investment company (the "Fund"), to purchase up to 10% of the Fund' s
outstanding shares of Common Stock, par value $0.001 per share (the "Shares"),
upon the terms and conditions set forth in its Issuer Tender Offer Statement
dated August 30, 2002 and in the related Letter of Transmittal (which together
constitute the "Offer"). The price to be paid for the Shares is an amount per
Share, equal to 95% of the net asset value per Share as determined by the Fund
at the close of regular trading on the New York Stock Exchange on September 27,
2002, or such later date to which the Offer is extended.
We are asking you to contact your clients for whom you hold Shares
registered in your name (or in the name of your nominee) or who hold Shares
registered in their own names. Please bring the Offer to their attention as
promptly as possible. No fees or commission will be payable to the Fund in
connection with the Offer. However, brokers, dealers or other persons may charge
Stockholders a fee for soliciting tenders for Shares pursuant to the Offer. The
Fund will also, upon request, reimburse you for reasonable and customary mailing
and handling expenses incurred by you in forwarding any of the enclosed
materials to your clients. The Fund will pay all transfer taxes on its purchase
of Shares, subject to Instruction 7, "Stock Transfer Taxes," of the Letter of
Transmittal. HOWEVER, BACKUP WITHHOLDING AT A 30% RATE MAY BE REQUIRED UNLESS
EITHER AN EXEMPTION IS PROVED OR THE REQUIRED TAXPAYER IDENTIFICATION
INFORMATION AND CERTIFICATIONS ARE PROVIDED. SEE SECTION 8, "FEDERAL INCOME TAX
CONSEQUENCES OF THE OFFER," OF THE OFFER TO PURCHASE AND INSTRUCTION 12, "BACKUP
WITHHOLDING," OF THE LETTER OF TRANSMITTAL.
For your information and for forwarding to your clients, we are enclosing
the following documents:
1. A letter to Stockholders of the Fund from Bryan McKigney, Director,
President and Secretary of the Fund;
2. The Offer to Purchase, dated August 30, 2002;
3. The Letter of Transmittal for your use and to be provided to your
clients;
4. Notice of Guaranteed Delivery;
5. Form of letter to clients that may be sent to your clients for whose
accounts you hold Shares registered in your name (or in the name of
your nominee); and
6. Return envelope addressed to PFPC Inc. (the "Depositary").
The Offer is not being made to, nor will the Fund accept tenders from,
holders of Shares in any state or other jurisdiction in which the Offer would
not be in compliance with the securities or Blue Sky laws of such jurisdiction.
As described in the Fund's Offer to Purchase under Section 3, "Procedure
for Tendering Shares," tenders may be made without the concurrent deposit of
stock certificates if (1) such tenders are made by or through a broker or dealer
that is a member firm of a registered national securities exchange or a member
of the National Association of Securities Dealers, Inc. or a commercial bank or
trust company having an office, branch, or agency in the United States; and (2)
certificates for Shares (or a confirmation of a book-entry transfer of such
Shares into the Depositary's account at a Book-Entry Transfer Facility (as
defined in the Letter of Transmittal)), together with a properly completed and
duly executed Letter of Transmittal, and any other documents required by the
Letter of Transmittal, are received by the Depositary within three business days
after receipt by the Depositary of a properly completed and duly executed Notice
of Guaranteed Delivery.
AS DESCRIBED IN THE OFFER, THE FUND WILL PURCHASE ALL SHARES FROM
STOCKHOLDERS WHO OWN 99 SHARES OR LESS AND TENDER ALL OF THEIR SHARES. IF SUCH A
TENDER IS MADE BY A BROKER, COMMERCIAL BANK, TRUST COMPANY OR OTHER NOMINEE FOR
BENEFICIAL OWNER(S) OF SHARES WITH RESPECT TO WHICH IT IS THE RECORD HOLDER,
SUCH BROKER, COMMERCIAL BANK, TRUST COMPANY OR OTHER NOMINEE MUST REPRESENT AND
WARRANT IN THE LETTER OF TRANSMITTAL THAT IT BELIEVES, BASED UPON
REPRESENTATIONS MADE TO IT BY SUCH BENEFICIAL OWNER(S), THAT EACH SUCH PERSON
OWNS 99 SHARES OR LESS.
NEITHER THE FUND NOR ITS BOARD OF DIRECTORS MAKES ANY RECOMMENDATION TO
ANY STOCKHOLDER WHETHER TO TENDER ANY SHARES.
For additional information or copies of the enclosed material, please
contact Georgeson Shareholder Communications Inc. (the "Information Agent") toll
free at 866-297-1264 or, for banks and brokers, at 212-440-9800.
Very truly yours,
THE INDIA FUND, INC.
/s/ BRYAN MCKIGNEY
BRYAN McKIGNEY
DIRECTOR, PRESIDENT AND SECRETARY
NOTHING CONTAINED HEREIN OR IN THE ENCLOSED DOCUMENTS SHALL CONSTITUTE YOU OR
ANY OTHER PERSON THE AGENT OF THE INDIA FUND, INC., THE INFORMATION AGENT, OR
THE DEPOSITARY OR AUTHORIZE YOU OR ANY OTHER PERSON TO MAKE ANY STATEMENTS OR
USE ANY MATERIAL ON THEIR BEHALF WITH RESPECT TO THE OFFER, OTHER THAN THE
MATERIAL ENCLOSED HEREWITH AND THE STATEMENTS SPECIFICALLY SET FORTH IN SUCH
MATERIAL.
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