NEW YORK, September 18, 2006 — 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 15, 2006. 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 22, 2006. As of Friday, September 15, 2006, 44,902,187.0328 Fund shares were outstanding. The repurchase amount of 5% of Fund shares represents approximately 2,245,109.3516 shares outstanding. The preliminary count by PFPC Inc., the Fund’s transfer agent, indicated that approximately 49,852.2809 shares (approximately 0.011% of the Fund’s outstanding shares) were validly tendered and not withdrawn prior to the expiration of the Fund’s repurchase offer. This determination is subject to final confirmation and the proper delivery of all shares tendered and not withdrawn, including shares tendered pursuant to the guaranteed delivery procedure. There are no shares 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 22, 2006, 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 closed-end management investment company that seeks long-term capital appreciation by investing primarily in Indian equity securities. The Fund conducts semiannual 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. 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.