FOR IMMEDIATE RELEASE


                         THE INDIA FUND, INC. ANNOUNCES
                       COMMENCEMENT DATE OF TENDER OFFERS



                  NEW YORK, August 30, 2002 - The India Fund, Inc. (the "Fund")
announced today that the Fund's tender offer (the "Tender Offer") for up to 10%
of the Fund's common stock will commence today and terminate on or about
September 27, 2002. The Tender Offer will be conducted at a price equal to 95%
of the Fund's net asset value per share on the last day of the tender offer
period (or as otherwise permitted by the rules of the Securities and Exchange
Commission (the "SEC")).
                  The Tender Offer will be made and stockholders will be
notified in accordance with the requirements of the Securities and Exchange Act
of 1934, as amended, and the Investment Company Act of 1940, as amended, either
by publication or mailing or both.
                  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.
                  This announcement is not an offer to purchase nor a
solicitation of an offer to sell shares of the Fund. The offer is made only be
the Offer to Purchase and the related Letter of Transmittal. Holders of Fund
shares should read these documents when they are available because they contain
important information. These and other filed documents will be available to
investors for free both at the website of the SEC and from the Fund. The offer
is not being made to, nor will tenders be accepted from or on behalf of, holders
of shares in any jurisdiction in which making or accepting the offer would
violate that jurisdiction's laws.
                  Periodically updated information on the Fund can be obtained
by calling the Fund's dedicated telephone line. Information provided includes a
recorded update revealing the Fund's top issues, net asset value, performance
and other information. The Fund's toll-free number is (800) 421-4777.

Contact:          Barbara Pires
                  Advantage Advisers, Inc.
                  (212) 667-4711

                  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.