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Korea Asia Fund Ld (01HG)

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Monday 25 September, 2000

Korea Asia Fund Ld

Re Proposed Liquidation

Korea Asia Fund Ld
25 September 2000



                           THE KOREA ASIA FUND LIMITED

Shareholders may be aware of certain statements made recently by one of the
Company's shareholders. These statements proposed, in essence, a surrender of
the Company's licence in Korea and a return of value to shareholders by means of
conversion of the Company into an open-ended fund. The Board has considered the
statements and has examined various other options open to the Company, including
the continuation of the Company without change.

Discussions have been held with shareholders holding a large majority of the
shares and, taking into account the views expressed by them and the range of
other options (including their practicability and cost), the Board has decided
after thorough consideration to propose the liquidation of the Company.

The Board will communicate with shareholders in due course to convene the
necessary extraordinary meeting of shareholders and intends at that time to
provide information on other collective investment funds specialising in Korean
equities.

Contact details:

Tom Durie, HSBC Investment Bank plc (Telephone: 020 7336 2004)



                                                                         

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