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Korea Asia Fund Ld (01HG)


Thursday 08 November, 2001

Korea Asia Fund Ld

Statement re Liquidation

Korea Asia Fund Ld
8 November 2001

The Korea Asia Fund Limited (in liquidation)

The joint liquidators are pleased to announce that they have now agreed the
Company's final tax return with the Inland Revenue and received clearance to
finalise the liquidation. As a result of the agreement reached with the Inland
Revenue the remaining tax provision has been released and the joint
liquidators will be making a third and final distribution of approximately
US$0.033 per ordinary share within the next three weeks.

The joint liquidators will also be calling a final meeting of the shareholders
in the near future.

8 November 2001

Jeremy Spratt (Joint Liquidator)
Tel: 020 7694 3369

Michael Tappin
Tel: 020 7694 3027


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