The Asia Tigers Fund, Inc. Announces Earnings For The Nine Months Ended July 31, 2009

• Press Release
• Source: The Asia Tigers Fund, Inc.
• On 5:30 pm EDT, Thursday September 10, 2009

NEW YORK--(BUSINESS WIRE)--The Asia Tigers Fund, Inc. (NYSE:GRR; the “Fund”), a non-diversified, closed-end management investment company that seeks long-term capital appreciation by investing primarily in Asian equity securities, today announced unaudited results for the nine months ended July 31, 2009.

Related Quotes

Symbol	Price	Change
GRR	19.18	+0.17

{"s" : "grr","k" : "c10,l10,p20,t10","o" : "","j" : ""}

For the nine months ended July 31, 2009, the Fund's net investment income totaled $72,973. Net realized loss and net change in unrealized gain for the nine months ended July 31, 2009, were $732,296 and $28,061,936, respectively. For the nine months ended July 31, 2008, the Fund's net investment loss totaled $109,532. Net realized gain and net change in unrealized loss for the nine months ended July 31, 2008, were $19,467,375 and $74,992,096, respectively.

On July 31, 2009, total net assets of the Fund were $69,111,766 and the net asset value (“NAV”) per share was $18.13, based on 3,811,393 shares outstanding. The Fund's common stock closed at $18.05 per share on the New York Stock Exchange on July 31, 2009, representing a discount of 0.44% to the Fund's July 31, 2009 NAV. On July 31, 2008 total net assets of the Fund were $97,391,662 and the NAV per share was $23.06, based on 4,223,151 shares outstanding. The Fund's common stock closed at $21.26 per share on the New York Stock Exchange on July 31, 2008, representing a discount of 7.81% to the Fund's July 31, 2008 NAV.

For the nine months ended July 31, 2009, the Fund conducted two periodic repurchase offers. The first repurchase offer commenced on December 26, 2008 and expired on January 16, 2009. In connection with the repurchase offer, the Fund purchased 211,158 shares of capital stock at an approximate cost of $2,256,710, net of a 2% repurchase fee of $44,597. The second repurchase offer commenced on June 26, 2009 and expired on July 17, 2009. In connection with the second repurchase offer, the Fund purchased 200,600 shares at an approximate cost of $3,504,926, net of a 2% repurchase fee of $70,090.

On July 31, 2009, investments in common stocks of Asian companies totaled $67,208,647 (or 97.25% of the Fund's net assets) and investments in exchange traded funds totaled $1,260,344 (or 1.82% of the Fund’s net assets). Cash and cash equivalents (including foreign currency and repurchase agreements) totaled $41,019 (or 0.06% of the Fund's net assets), and other assets in excess of liabilities totaled $601,756 (or 0.87% of the Fund's net assets), resulting in net assets of $69,111,766. Key holdings and country allocations as of July 31, 2009, are set forth below.

The holdings and allocations listed were accurate as of the date shown and are subject to change without notice. Any securities discussed should not be a recommendation to buy or sell and there is no guarantee that these securities will be held nor should it be assumed that they were or will be profitable. Past performance does not guarantee future results.

The Fund is a non-diversified, 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 New York Stock Exchange under the trading symbol “GRR”.

Blackstone Asia Advisors L.L.C. serves as the Investment Manager to the Fund. The Investment Manager is an affiliate of The Blackstone Group L.P.

Information on the Fund can be obtained on the Blackstone website (www.blackstone.com) or by calling the Fund’s toll-free phone number at 1-866-800-8933.

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.

Blackstone Asia Advisors L.L.C.
1-866-800-8933