Korea Asia Fund Ld

Purchase of Own Securities

Korea Asia Fund Ld
12 June 2000

The Korea Asia Fund Limited announces that on 12 June 2000 the Company purchased
for cancellation 600 IDRs (300,000 Ordinary Shares) at a price of US$3.414 per
Ordinary Share. Following the purchase, 72,575,000 Ordinary Shares remain in
issue.

Enquiries:

Steve Martin
Company Secretarial Advisors
KPMG
Tel: 01727 733102

Tom Durie
Company Broker
HSBC Investment Bank
Tel: 020  7336 2004