Morgan Stanley China A Share Fund, Inc. Announces Portfolio Manager Change And Creation Of Closed-End Fund Committee

Morgan Stanley Investment Management Inc. (“MSIM”), the investment adviser to Morgan Stanley China A Share Fund, Inc. (NYSE: CAF) (the “Fund”), announced today that James Cheng, a portfolio manager of the Fund, will retire effective December 31, 2012. Gary Cheung, a Vice President of Morgan Stanley Investment Management Company (“MSIM Company”), the sub-adviser to the Fund, will continue to be primarily responsible for the day-to-day management of the Fund’s portfolio upon Mr. Cheng’s retirement. The change in portfolio management team does not affect the investment objective of the Fund, nor the way in which the Fund’s portfolio is managed.

The Board of Directors has also approved the creation of a committee of independent Directors to consider a range of issues unique to closed-end funds.

The Fund is a non-diversified, closed-end management investment company that seeks capital growth by investing, under normal circumstances, at least 80 percent of its assets in A-shares of Chinese companies listed on the Shanghai and Shenzhen Stock Exchanges. The Fund’s shares are listed on the New York Stock Exchange under the symbol “CAF.”

Morgan Stanley Investment Management, together with its investment advisory affiliates, has approximately 620 investment professionals around the world and $304 billion in assets under management or supervision as of March 31, 2012. 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.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,300 offices in 43 countries. For further information about Morgan Stanley, please visit www.morganstanley.com .

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.

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