The Thai Fund, Inc. Announces the Suspension of Its Rights Offering
15 June 2006 - 7:10AM
Business Wire
The Thai Fund, Inc. (the "Fund") (NYSE: TTF) announced today that
the rights offering of shares of the Fund's common stock (the
"Rights Offering") will be suspended until further notice. In
accordance with an undertaking made by the Fund in the Registration
Statement it filed with the Securities and Exchange Commission in
connection with the Rights Offering, the Fund is suspending its
Rights Offering until further notice due to the Fund's net asset
value having declined more than 10% from $9.02 on May 23, 2006 (the
effective date of the Fund's registration statement) to $8.06 on
June 12, 2006. All subscriptions and payments received by the Fund
will be returned to subscribing stockholders. The Rights Offering
will be suspended until such time as the Board of Directors of the
Fund determines that market conditions and other factors make it
appropriate to resume the Rights Offering. The Fund will continue
to review market conditions and will make an announcement if it
decides to resume the Rights Offering. There can be no assurance
that the Fund will resume the Rights Offering. The Fund is listed
on the New York Stock Exchange under the ticker symbol "TTF." The
Fund is a closed-end management investment company seeking
long-term capital appreciation through investment primarily in
equity securities of companies organized under the laws of the
Kingdom of Thailand. Stockholders seeking further information
should contact their broker or nominee, or contact the Fund's
Information Agent: -0- *T GEORGESON SHAREHOLDER COMMUNICATIONS,
INC. 17 State Street, 10th Floor New York, NY 10004 Toll free:
(800) 509-4953 or For banks and brokers: (212) 440-9800 *T The
Fund's U.S. investment adviser is Morgan Stanley Investment
Management Inc. ("MSIM"), a wholly-owned subsidiary of Morgan
Stanley. MSIM, with over 400 investment professionals around the
world, has more than $442 billion in assets under management or
supervision as of February 28, 2006. MSIM offers investment
management services to a diverse client base, which includes
governments, institutions, corporations and individuals. Morgan
Stanley (NYSE:MS) is a global financial services firm and a market
leader in securities, investment management and credit services.
With more than 600 offices in 30 countries, Morgan Stanley connects
people, ideas and capital to help clients achieve their financial
aspirations. Investors should consider the Fund's investment
objective, risks and charges and expenses carefully before
investing. The prospectus contains this and other information about
the Fund and can be obtained from Georgeson Shareholder
Communications, Inc., as set forth above. Investors should read the
prospectus carefully before investing. 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. -0- *T For media inquiries,
please contact: Erica Platt Media Relations 212-762-3268 *T
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