Morgan Stanley Asia-Pacific Fund, Inc. Announces Portfolio Manager Changes, Information Regarding Share Repurchase Program And Creation Of Closed-End Fund Committee

Morgan Stanley Investment Management Inc. (“MSIM”), the investment adviser to Morgan Stanley Asia-Pacific Fund, Inc. (NYSE: APF) (the “Fund”), announced today that James Cheng, a portfolio manager of the Fund, will retire effective December 31, 2012. Effective immediately, Munib Madni, a Managing Director of Morgan Stanley Investment Management Company (“MSIM Company”), the sub-adviser to the Fund, and Samuel Rhee, an Executive Director of MSIM Company, have been added to the team primarily responsible for the day-to-day management of the Fund’s portfolio. Mr. Madni has been associated with MSIM Company in an investment management capacity since February 2005. Mr. Rhee has been associated with MSIM Company in an investment management capacity since July 2005. Messrs. Madni and Rhee, along with Arthur Pollock, an Executive Director of Morgan Stanley Investment Management Limited, a sub-adviser to the Fund, 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 continues to maintain a share repurchase program (the “Program”) for purposes of enhancing stockholder value and reducing the discount at which the Fund’s shares trade from their net asset value. Since the inception of the Program on January 23, 1998, the Fund has repurchased 30.7 percent of its shares. The Fund expects to continue to repurchase its outstanding shares at such time and in such amounts as it believes will further the accomplishment of the foregoing objectives of the Program, subject to review by the Board of Directors. On a monthly basis, the Fund intends to make available on its public website information regarding the Fund’s repurchase activity.

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 diversified, closed-end management investment company that seeks long-term capital appreciation through investments primarily in equity securities of Asian-Pacific issuers and in debt securities issued or guaranteed by Asian Pacific governments or governmental entities. The Fund’s shares are listed on the New York Stock Exchange under the symbol “APF.”

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.

Copyright Business Wire 2010