2009-05-30 00:06:02 -

The India Fund, Inc. (NYSE: IFN; the “Fund”) announced today the filing of a Registration Statement with the Securities and Exchange Commission for a proposed rights offering, subject to market conditions, to holders of the Fund’s common stock.

Record date stockholders who fully exercise their rights may participate in an over-subscription privilege subject to certain limitations and allotment. Final terms of

the proposed offering, including the record date, subscription price and subscription period, will be determined at a later date and announced at that time. The rights offering will be made only by means of a prospectus.

The Fund is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in Indian equity securities. The Fund conducts semi-annual repurchase offers and is traded on the New York Stock Exchange under the trading symbol “IFN.”

Blackstone Asia Advisors L.L.C. serves as the Investment Manager to the Fund. The Investment Manager is an affiliate of The Blackstone Group L.P.

A Registration Statement relating to the shares has been filed with the Securities and Exchange Commission but has not yet become effective. The securities to be offered may not be sold nor may offers to buy be accepted prior to the time that the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities to be offered in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

Please consider the Fund’s investment objective, risks and charges and expenses carefully before investing. Information on the Fund can be obtained on the Blackstone website ( www.blackstone.com : ) or by calling the Fund’s toll-free phone number at 1-866-800-8933.

This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking and can be identified by the use of words such as “may,” “will,” “expect,” “anticipate,” “estimate,” “believe,” “continue” or other similar words. Such forward-looking statements are based on the Fund’s current plans and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Additional information concerning such risks and uncertainties are contained in the Fund’s filings with the Securities and Exchange Commission.

Blackstone Asia Advisors L.L.C.1-866-800-8933