The India Fund, Inc. (NYSE: IFN; the “Fund”), a closed-end management investment company that seeks long-term capital appreciation by investing primarily in equity securities of Indian companies, today announced unaudited results for the twelve months ended December 31, 2008.

For the twelve months ended December 31, 2008, the Fund’s net realized losses were $6,229,536 and the net change in unrealized losses was $1,637,953,762, equal to $0.15 and $40.53 per share, respectively. Net investment loss for the twelve months ended December 31, 2008 was $2,786,979, equal to $0.07 per share. For the same twelve month period ended December 31, 2007, the Fund's net realized and net change in unrealized gains were $594,368,400 and $791,935,835, respectively, equal to $13.44 and $17.91 per share, respectively. Net investment loss was $6,285,614, equal to $0.14 per share.

On December 31, 2008, total net assets of the Fund were $671,087,091, and the net asset value (“NAV”) per share was $17.38 based on 38,609,548 shares outstanding. The Fund's common stock closed on the New York Stock Exchange on December 31, 2008 at $18.30 per share, representing a premium of 5.29% to the Fund’s December 31, 2008 NAV. On December 31, 2007, total net assets of the Fund were $2,754,124,397, and the NAV per share was $64.78 based on 42,516,770 shares outstanding. The Fund's common stock closed on the New York Stock Exchange on December 31, 2007, at $62.26 per share, representing a discount of 3.89% to the Fund’s December 31, 2007 NAV.

In April 2003, stockholders of the fund voted to adopt an interval fund structure, pursuant to which the Fund conducts semi-annual repurchase offers for between 5% and 25% of the Fund’s outstanding common stock.

During the twelve months ended December 31, 2008 the Fund conducted two repurchase offers. The first repurchase offer commenced on February 22, 2008 and expired on March 14, 2008. In connection with the repurchase offer, the Fund purchased 2,125,838 shares of capital stock at a total cost of approximately $93,864,209, net of a 2% repurchase fee of $1,909,853. The second repurchase offer commenced on August 22, 2008 and expired on September 12, 2008. In connection with the repurchase offer, the Fund purchased 2,019,547 shares of capital stock at a total cost of approximately $72,768,663, net of a 2% repurchase fee of $1,479,924.

On December 31, 2008, investments in equity securities of Indian companies totaled $666,857,337 (or 99.37% of the Fund's net assets), investments in U.S. securities totaled $3,100,902 (or 0.46% of the Fund’s net assets), investments in Exchange Traded Notes totaled $816,312 (or 0.12% of the Fund’s net assets), and investments in cash and cash equivalents including foreign currencies totaled $30,291,935 (or 4.52% of the Fund's net assets). Liabilities is excess of other assets totaled $29,979,395 (or 4.47% of the Fund's net assets), accounting for the remaining net assets.

As of December 31, 2008, the Fund’s top ten holdings and sector allocations were:

The India Fund, Inc. 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.

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