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The Asia Tigers Fund, Inc. Announces Adjustment to Net Asset Value

Business Wire, May 2, 2008

NEW YORK -- The Asia Tigers Fund, Inc. (NYSE: GRR; the "Fund") today announced that it has adjusted its net asset value per share ("NAV") to take into account an over-accrual related to foreign withholding taxes. The Fund is a 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". As a result of the over-accrual , shares accepted for purchase in the Fund's last semi-annual repurchase offer, which expired on January 11, 2008, will be entitled to an additional $0.1765 per share. This is based on an adjusted NAV of $28.55 as of January 18, 2008, the pricing date of the repurchase offer, less a repurchase fee of $0.5710 per share. The Fund's NAV as of April 30, 2008 was $27.22, reflecting an adjustment of $0.19 in connection with the over-accrual.

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The cash payment related to the January repurchase offer will be issued on or before May 6, 2008. Investors who have questions relating to the additional payment can call the transfer agent PFPC Inc. at 1-800-331-1710 for more information.

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.

Business Services Industry

The Asia Tigers Fund, Inc. Announces Adjustment to Net Asset Value

Business Wire, May 2, 2008

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