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Morgan Stanley Announces Portfolio Manager Changes For The Morgan Stanley Emerging Markets Fund, Inc.

Morgan Stanley Investment Management, Inc. (“MSIM”) today announced that Eric Carlson is now named as a member of the portfolio management team of the Morgan Stanley Emerging Markets Fund, Inc. (NYSE:MSF) (the “Fund”).

Mr. Carlson, along with James Cheng, Ana Cristina Piedrahita, Paul C. Psaila and Ruchir Sharma, is a member of the Emerging Markets Equity team, which is responsible for the day-to-day management of the Fund’s portfolio. Mr. Carlson is a Managing Director of MSIM and has been associated with MSIM in an investment management capacity since September 1997.

Mr. Cheng is Managing Director of Morgan Stanley Investment Management Company (“MSIM Company”) and has been associated with MSIM Company in an investment management capacity since July 2006 and began managing the Fund in July 2006. Prior to July 2006, Mr. Cheng worked in an investment management capacity at Invesco Asia Limited, Asia Strategic Investment Management Limited and Munich Re Asia Capital Management.

Ms. Piedrahita is an Executive Director of Morgan Stanley Investment Management Limited (“MSIM Limited”) and has been associated with MSIM Limited in an investment management capacity since 2002 and began managing the Fund in January 2002.

Mr. Psaila is a Managing Director of MSIM and has been associated with the Adviser in an investment management capacity since 1994 and began managing the Fund in February 1994.

Mr. Sharma is a Managing Director of MSIM and has been associated with the Adviser in an investment management capacity since 1996 and began managing the Fund in February 2002.

MSIM is the investment adviser for the Fund. MSIM, together with its investment advisory affiliates, has more than 700 investment professionals around the world and approximately $279 billion in assets under management or supervision as of December 31, 2010. MSIM strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.

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