The India Fund announces semi annual final results

By SiliconIndia   |   Wednesday, 30 March 2005, 08:00 Hrs
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NEW YORK: The India Fund, Inc. has announced the final results of the Fund's semi-annual repurchase offer for its shares of common stock.

The Fund offered to repurchase up to 5 percent of its outstanding shares of common stock for cash at a price approximately equal to net asset value as of March 28, 2005. As of Monday, March 14, 2005, 32,084,649.4388 Fund shares were outstanding.

Approximately 110,112.1312 shares were validly tendered and not withdrawn prior to the expiration of the Fund's repurchase offer. The repurchase amount of 5 percent of Fund shares represents approximately 1,604,232.4719 shares outstanding. The shares accepted for tender will receive cash at a repurchase offer price of $26.654, which is equal to the Fund's net asset value per share of $27.198 as of March 28, 2005, less a repurchase fee of $ .544 per share.

Cash payment for the repurchased shares will be issued on or before April 4, 2005. After the repurchase offer, the Fund will have approximately 31,974,537.307 shares outstanding.

The India Fund, Inc. is a 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 New York Stock Exchange under the trading symbol "IFN".

Advantage Advisers, Inc., serves as the Investment Manager to the Fund. The Investment Manager is a wholly owned subsidiary of Oppenheimer Asset Management Inc., which is an affiliate of Oppenheimer & Co. Inc.

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