The Thai Capital Fund, Inc. Announces Payment Of Initial Liquidation Distribution

NEW YORK, Aug. 23, 2013 /PRNewswire/ -- The Thai Capital Fund, Inc. (NYSE MKT: TF) (the "Fund") today announced that in connection with the liquidation and dissolution of the Fund, that it paid an initial liquidating distribution of U.S. $10.93 per share to all stockholders of record as of August 16, 2013. The amount of the distribution was equal to approximately 90% of the proceeds of the liquidation of the Fund's portfolio. This distribution is comprised of U.S. $0.3479 per share of long-term capital gains, U.S. $0.6181 of short-term capital gains and U.S. $9.9640 return of capital.

The Fund will pay unpaid liabilities and obligations of the Fund. It is anticipated that a final liquidating distribution will be made prior to the dissolution of the Fund in September 2013.

In January 2014, a Form 1099-DIV will be sent to stockholders, which will state the amount and composition of distributions and provide information with respect to their appropriate tax treatment for the 2013 calendar year.

Trading of the Fund's shares on the NYSE MKT was suspended on August 13, 2013.

Circular 230 disclosure: To ensure compliance with requirements imposed by the U.S. Treasury, we inform you that any U.S. tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective. 

SOURCE The Thai Capital Fund, Inc.

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