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IFN News The India Fund, Inc. Announces Final Results of Semi-Annual Repurchase Offer

NEW YORK--(BUSINESS WIRE)--The India Fund, Inc. (NYSE: IFN; the “Fund”) announced the final results of the Fund’s semi-annual repurchase offer for its shares of common stock. The repurchase offer and withdrawal rights expired on Friday, September 15, 2006. The Fund offered to repurchase up to 5% of its outstanding shares of common stock for cash at a price approximately equal to net asset value as of September 22, 2006. As of Friday, September 15, 2006, 44,902,187.0328 Fund shares were outstanding. Approximately 49,852.2809 shares were validly tendered and not withdrawn prior to the expiration of the Fund’s repurchase offer. The repurchase amount of 5% of Fund shares represents approximately 2,245,109.3516 shares outstanding. The shares accepted for tender will receive cash at a repurchase offer price of $38.591, which is equal to the Fund’s net asset value per share of $39.38 as of September 22, 2006, less a repurchase fee of $.7876 per share. Cash payment for the repurchased shares will be issued on or before September 29, 2006. After the repurchase offer, the Fund will have approximately 44,852,334.7519 shares outstanding.

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.

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.