Interim Management Statement

Aberdeen Asian Income Fund Limited
15 April 2008



Aberdeen Asian Income Fund Limited

Interim Management Statement - 3 months to 31 March 2008



To the members of Aberdeen Asian Income Fund Limited

This interim management statement has been produced solely to provide additional
information to shareholders as a body to meet the relevant requirements of the
UK Listing Authority's Disclosure and Transparency Rules. It should not be
relied upon by any other party or for any other purpose.

This interim management statement relates to the period from 31 December 2007 to
31 March 2008, and contains information that covers this period, and up to the
date of publication of this interim management statement, unless otherwise
specified.



Investment objective

To provide investors with a total return primarily through investing in Asian
Pacific securities, including those with an above-average yield. The Company
does not expect, at least initially, to have any significant Japanese exposure.



Benchmark

The Company's portfolio is constructed without reference to the composition of
any stockmarket index or benchmark. It is likely, therefore, that there will be
periods when its performance will be quite unlike that of any index or benchmark
and there can be no assurance that such divergence will be wholly or even
primarily to the Company's advantage. The Company and Manager measures its
performance against the MSCI AC Asia Pacific ex Japan Index (in sterling terms).



Material events



On 15 April 2008 the Company held its Annual General Meeting at which all
resolutions were passed.  The special business included resolutions to allow the
Company to buy back shares (up to 14.99% of the issued share capital);  to
permit the Company to buy back Warrants (up to 14.99% of the Warrants in issue);
to permit the Company to hold shares in treasury; and, to amend the Articles of
Association (to allow for electronic proxy voting).

On 26 February 2008 the Company paid a second interim dividend in respect of the
year ended 31 December 2007 of 2.75p.

During the period under review, the Company purchased for cancellation 280,000
Ordinary shares and since 31 March 2008 the Company has purchased and cancelled
a further 140,000 Ordinary shares in the market.  To date the Company has
purchased and cancelled 1,220,000 Ordinary shares and there are now 108,780,000
Ordinary shares in issue.

The borrowings at the period end represented the equivalent of £15.1m drawn in
USD and HKD (USD12.22m drawn to 2 July 2008 and HKD 137.67m drawn to September
2008).





Ten largest equity holdings at 31 March 2008


                                                    %

DB Indo CLN 10% 22/07/17 IDR 'FR28'               4.9
Public Bank                                       4.4
Taiwan Mobile                                     4.4
CLP Holdings                                      4.2
British American Tobacco                          4.1
Taiwan Semiconductor                              4.1
Fubon Financial                                   4.0
Siam Cement                                       3.9
PTT Exploration and Production                    3.9
Malayan Banking                                   3.6

Total                                            41.5



Country allocation as at 31 March 2008


Country                             %
Singapore                          21.8
Malaysia                           16.7
Thailand                           13.3
Australia                          12.5
Taiwan                             12.4
Hong Kong                          8.3
Indonesia                          8.1
New Zealand                        2.3
China                              1.6
Philippines                        1.3
Cash                               1.7
Total                             100.0



General description of Company's financial position and performance as at 31
March 2008


                                                    £m
Gross Assets                                        145.5
Debt                                                15.1

Actual gearing                                      11.6%




Cumulative Performance (%)


                                               as at       1 month     3 months     6 months      1 year
                                          31/03/2008
Share Price                                    113.5          -2.8          5.8          7.8         6.8
NAV                                            119.8          -0.2          2.1          4.8        10.7
Warrant 2013 Price                              20.0          -7.0        -12.1        -32.2       -31.6
MSCI AC Asia Pacific ex Japan                                 -5.8        -13.4        -11.9        12.9



Discrete Performance (%)


                                           Year to       Year to

                                        31/03/2008    31/03/2007
Share Price                                    6.8           7.1
NAV                                           10.7          13.3
Warrant 2013 Price                           -31.6          27.2
MSCI AC Asia Pacific ex Japan                 12.9          12.8



Total Return; NAV to NAV, Net Income Reinvested, GBP

Source: Aberdeen Asset Managers Limited, Factset and Fundamental Data

NAV returns based on NAVs with debt valued at par



The Board is not aware of any significant events or transactions which have
occurred between 31 December 2007 and the date of publication of this interim
management statement which would have a material impact on the financial
position of the Company. For latest performance information, please refer to the
Company's website, www.asian-income.co.uk.

Please note that past performance is not necessarily a guide to the future and
that the value of investments and the income from them may fall as well as rise.
Investors may not get back the amount they originally invested.



For Aberdeen Asian Income Fund Limited

Aberdeen Asset Management PLC, Secretary

15 April 2008


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