The India Fund, Inc. Announces Expiration of Semi-Annual Repurchase Offer

Mon. September 14, 2009; Posted: 08:30 AM

NEW YORK, Sep 14, 2009 (BUSINESS WIRE) -- IFN | Quote | Chart | News | PowerRating -- The India Fund, Inc. (NYSE: IFN; the "Fund") announced the expiration of the Fund's semi-annual repurchase offer for its shares of common stock. The repurchase offer and withdrawal rights expired on Friday, September 11, 2009. The Fund offered to repurchase up to 5% of its outstanding shares of common stock for cash at a price approximately equal to net asset value as of September 18, 2009. As of Friday, September 11, 2009, 50,092,648 Fund shares were outstanding. The repurchase amount of 5% of Fund shares represents approximately 2,504,632 shares outstanding. The preliminary count by PNC Global Investment Servicing (U.S.) Inc., the Fund's transfer agent, indicated that approximately 1,013,234 shares (approximately 2.02% of the Fund's outstanding shares) were validly tendered and not withdrawn prior to the expiration of the Fund's repurchase offer. This determination is subject to final confirmation and the proper delivery of all shares tendered and not withdrawn, including shares tendered pursuant to the guaranteed delivery procedure. 10,341 shares are estimated to be subject to this guarantee. Shares will be repurchased for cash at a price equal to their net asset value as of the close of regular trading on the New York Stock Exchange ("NYSE") on September 18, 2009, subject to a repurchase fee of 2% of net asset value per share, which will be deducted from the repurchase price.

The Fund is a non-diversified, closed-end management investment company that seeks long-term capital appreciation by investing primarily in Indian equity securities. The Fund conducts semi-annual repurchase offers and is traded on the NYSE under the trading symbol "IFN."

Blackstone Asia Advisors L.L.C. serves as the Investment Manager to the Fund. The Investment Manager is an affiliate of The Blackstone Group L.P.

Information on the Fund can be obtained on the Blackstone website (www.blackstone.com) or by calling the Fund's toll-free phone number at 1-866-800-8933.

This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking and can be identified by the use of words such as "may," "will," "expect," "anticipate," "estimate," "believe," "continue" or other similar words. Such forward-looking statements are based on the Fund's current plans and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Additional information concerning such risks and uncertainties are contained in the Fund's filings with the Securities and Exchange Commission.

SOURCE: The India Fund, Inc.

Blackstone Asia Advisors L.L.C. 
1-866-800-8933

For full details on India Fund (IFN) click here. India Fund (IFN) has Short Term PowerRatings of 6. Details on India Fund (IFN) Short Term PowerRatings is available at This Link.

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