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

NEW YORK--(BUSINESS WIRE)--The Asia Tigers Fund, Inc. (NYSE: GRR; the “Fund”) announced the expiration of the Fund’s semi-annual repurchase offer for shares of its common stock. The repurchase offer and withdrawal rights expired on Friday, July 15, 2011. The Fund offered to repurchase up to 5% of the outstanding shares of its common stock for cash at a price approximately equal to net asset value as of July 22, 2011. As of Friday, July 15, 2011, 3,389,470 Fund shares were outstanding. The repurchase amount of 5% of Fund shares represents approximately 169,473.50 shares outstanding. The preliminary count by BNY Mellon Investment Servicing (U.S.) Inc., the Fund’s transfer agent, indicated that approximately 476,869.4907 shares (approximately 14.069 % of the Fund’s outstanding shares) were validly tendered and not withdrawn prior to the expiration of the Fund’s repurchase offer. This determination is subject to final confirmation and the proper delivery of all shares tendered and not withdrawn, including shares tendered pursuant to the guaranteed delivery procedure. 54,305 shares are estimated to be subject to this guarantee. Since more than 5% of the Fund’s outstanding shares were tendered, it is required that Fund shares tendered be accepted on a pro-rata basis. It is expected that approximately 29.62 % of the non-odd lot shares tendered will be accepted for payment. 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 July 22, 2011, 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 Asian equity securities. The Fund conducts semi-annual repurchase offers and is traded on the NYSE 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.