The Turkish Investment Fund, Inc. (NYSE: TKF) (the “Fund”) announced today that the Fund’s tender offer for 1,123,817 of its issued and outstanding shares of common stock, representing approximately 15 percent of the Fund’s outstanding shares, expired at 11:59 p.m. New York time on July 10, 2012.

Based upon current information, approximately 3,545,251 shares were tendered, including shares tendered pursuant to notices of guaranteed delivery. Based on this preliminary information, the pro-ration for each tendering stockholder is estimated to be 31.70 percent of the shares properly tendered. These numbers are subject to adjustment and should not be regarded as final. The actual number of shares to be purchased will be announced at a later date. Management of the Fund anticipates acceptance on July 17, 2012, of 1,123,817 shares properly tendered and that payment for such shares will be made on or about July 18, 2012. The purchase price of properly tendered shares is equal to 98.5 percent of the net asset value per share determined as of the close of the regular trading session of the New York Stock Exchange (NYSE) on July 11, 2012.

For further information, please contact Georgeson Inc., the Fund’s information agent, at (888) 680-1529.

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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.

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