The Asia Tigers Fund, Inc. Announces Earnings for the Nine Months Ended July 31, 2010

NEW YORK--(BUSINESS WIRE)--The Asia Tigers Fund, Inc. (NYSE:GRR; the “Fund”), a non-diversified, closed-end management investment company that seeks long-term capital appreciation by investing primarily in Asian equity securities, today announced unaudited results for the nine months ended July 31, 2010.

For the nine months ended July 31, 2010, the Fund's net investment loss totaled $177. Net realized gain and net change in unrealized loss for the nine months ended July 31, 2010, were $8,381,344 and $1,982,539, respectively. For the nine months ended July 31, 2009, the Fund's net investment income totaled $72,973. Net realized loss and net change in unrealized gain for the nine months ended July 31, 2009, were $732,296 and $28,061,936, respectively.

On July 31, 2010, total net assets of the Fund were $72,111,414 and the net asset value (“NAV”) per share was $20.27, based on 3,557,122 shares outstanding. The Fund's common stock closed at $19.30 per share on the New York Stock Exchange on July 30, 2010, representing a discount of 4.79% to the Fund's July 30, 2010 NAV. On July 31, 2009, total net assets of the Fund were $69,111,766 and the NAV per share was $18.13, based on 3,811,393 shares outstanding. The Fund's common stock closed at $18.05 per share on the New York Stock Exchange on July 31, 2009, representing a discount of 0.44% to the Fund's July 31, 2009 NAV.

For the nine months ended July 31, 2010, the Fund conducted two periodic repurchase offers. The first repurchase offer commenced on December 24, 2009 and expired on January 15, 2010. In connection with the repurchase offer, the Fund purchased 89,067 shares of capital stock at an approximate cost of $1,795,494, net of a 2% repurchase fee of $35,288. The second repurchase offer commenced on June 25, 2010 and expired on July 16, 2010. In connection with the second repurchase offer, the Fund purchased 165,204 shares at an approximate cost of $3,307,630, net of a 2% repurchase fee of $66,148.

On July 31, 2010, investments in common stocks of Asian companies totaled $71,231,890 (or 98.78% of the Fund's net assets). Cash and cash equivalents (including foreign currency) totaled $773,284 (or 1.07% of the Fund's net assets), and other assets in excess of liabilities totaled $106,240 (or 0.15% of the Fund's net assets), resulting in net assets of $72,111,414. Key holdings and country allocations as of July 30, 2010, are set forth below.

Key Holdings and Country Allocations
Top Ten Holdings at July 31, 2010	% of Net Assets
1. Samsung Electronics – (South Korea – Electronic Components)	4.8 %
2. China Mobile, Ltd. – (Hong Kong – Cellular Telecommunications)	3.5 %
3. Taiwan Semiconductor – (Taiwan – Semiconductor Components)	3.2 %
4. Hon Hai Precision Industry Co. – (Taiwan – Electronic Components)	2.0 %
5. LG Chem, Ltd. – (South Korea – Chemicals)	2.0 %
6. China Construction Bank Corp. – (China – Banks)	1.9 %
7. Top Glove Corp. BHD – (Malaysia – Rubber & Vinyl)	1.8 %
8. Infosys Technologies, Ltd. – (India – Applications Software)	1.7 %
9. Shinhan Financial Group Co., Ltd. – (South Korea – Diversified Financial Services)	1.7 %
10. Beijing Enterprises Holdings, Ltd. – (Hong Kong – Diversified Operations)	1.6 %
Portfolio Composition by Country at July 31, 2010	% of Net Assets
1. South Korea	20.5 %
2. Hong Kong	16.9 %
3. China	15.2 %
4. Taiwan	13.3 %
5. India	11.0 %
6. Singapore	10.8 %
7. Indonesia	4.2 %
8. Malaysia	3.8 %
9. Thailand	1.9 %
10. United Kingdom	0.7 %
11. Sri Lanka	0.4 %

The holdings and allocations listed were accurate as of the date shown and are subject to change without notice. Any securities discussed should not be a recommendation to buy or sell and there is no guarantee that these securities will be held nor should it be assumed that they were or will be profitable. Past performance does not guarantee future results.

The Fund is a non-diversified, closed-end management investment company that seeks long-term capital appreciation by investing primarily in Asian equity securities. The Fund conducts semi-annual repurchase offers and is traded on the New York Stock Exchange under the trading symbol “GRR”.

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.