Liquidation Proceeds Payment

Siam Investment Fund
24 May 2006

                                

                            SIAM INVESTMENT FUND 

                 Interim Payment of Liquidation Proceeds


The Liquidators of the Siam Investment Fund (the 'Fund') wish to announce that 
they have resolved to make an interim payment out of the proceeds of liquidation
of the Fund, in the amount of US$1.25 per share, to all shareholders of record 
as of May 26,2006.


Payment will be made on or about June 5,2006.


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