Morgan Stanley Investment Management Inc. ("MSIM"), the investment adviser to The Thai Fund, Inc. (NYSE: TTF) (the “Fund”), announced today that James Cheng, a portfolio manager of the Fund, will retire effective December 31, 2012. Effective immediately, Samuel Rhee, an Executive Director of Morgan Stanley Investment Management Company ("MSIM Company"), a sub-adviser to the Fund, has been added to the team primarily responsible for the day-to-day management of the Fund’s portfolio. Mr. Rhee has been associated with MSIM Company in an investment management capacity since July 2005. Mr. Rhee, along with Munib Madni, a Managing Director of MSIM Company, will continue to be jointly and 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 Fund is a non-diversified, closed-end management investment company incorporated under the laws of the State of Maryland. The Fund’s investment objective is long-term capital appreciation through investment primarily in equity securities of companies organized under the laws of the Kingdom of Thailand.
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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.