The Asia Tigers Fund, Inc. Announces Final Results of Semi-Annual Repurchase Offer

PHILADELPHIA, Jan. 23, 2012 /PRNewswire/ -- The Asia Tigers Fund, Inc. (NYSE: GRR; the "Fund") announced the final results of the Fund's semi-annual repurchase offer for shares of its common stock.  The repurchase offer and withdrawal rights expired on Friday, January 13, 2012.  The Fund offered to repurchase up to 5% of the outstanding shares of its common stock for cash at a price approximately equal to net asset value as of January 20, 2012. 

As of January 13, 2012, 3,219,996.5 Fund shares were outstanding.  Approximately 677,311.9055 shares were validly tendered and not withdrawn prior to the expiration of the Fund's repurchase offer.  The repurchase amount of 5% of Fund shares represents approximately 160,999 shares outstanding.  The final pro-ration calculations resulted in 37,178.9055 odd lot shares and 640,133 non-odd lot shares validly tendered.  Under final pro-ration, 19.3429% of the non-odd lot shares tendered were accepted for payment.  The shares accepted for tender will receive cash at a repurchase offer price of $13.818, which is equal to the Fund's net asset value per share of $14.10 as of January 20, 2012, less a repurchase fee of $0.282 per share.  Cash payment for the repurchased shares will be issued on or before January 27, 2012.  All shares tendered and not repurchased by the Fund will be returned to stockholders as promptly as practicable.  After the repurchase offer, the Fund will have approximately 3,058,997.5 shares outstanding.

The Fund is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in Asian equity securities.  The Fund conducts semi-annual repurchase offers and is traded on the NYSE under the trading symbol "GRR."  Aberdeen Asset Management Asia Limited serves as the Investment Manager to the Fund.  The Investment Manager is an affiliate of Aberdeen Asset Management PLC.

Information on the Fund can be obtained on the Aberdeen website (www.aberdeengrr.com) or by calling the Fund's toll-free phone number at 1-866-839-5205.

Important Information

Closed-end funds have a one-time initial public offering and then are subsequently traded on the secondary market through one of the stock exchanges. The investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.

International investing entails special risk considerations, including currency fluctuations, lower liquidity, economic and political risks, and differences in accounting methods; these risks are generally heightened for emerging market investments.

Aberdeen Asset Management is the marketing name in the U.S. for the following affiliated, registered investment advisers: Aberdeen Asset Management Inc., Aberdeen Asset Management Investment Services Ltd., Aberdeen Asset Management Ltd. and Aberdeen Asset Management Asia Limited (collectively, the "Aberdeen Advisers"). Each of the Aberdeen Advisers is wholly owned by Aberdeen Asset Management PLC. "Aberdeen" is a U.S. registered service mark of Aberdeen Asset Management PLC.

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SOURCE The Asia Tigers Fund, Inc.