The Singapore Fund Announces Approval of Aberdeen as Investment

The Singapore Fund SGF, a closed-end management investment company seeking long-term capital appreciation through investment primarily in Singapore equity securities, announced today that the Fund's Board of Directors has voted to approve, and to recommend the stockholders of the Fund approve, an Investment Management Agreement between the Fund and Aberdeen Asset Management Asia Limited. The Proposed Agreement, if approved by stockholders, will replace the Fund's existing investment management agreement pursuant to which the Fund's current investment manager,DBS Asset Management Pte. Ltd., manages the investment of the Fund's assets. Under the Proposed Agreement, the total management fees paid by the Fund would be a monthly fee at an annual rate of 0.80% of the first $50 million of the Fund's average weekly net assets and 0.66% of the Fund's average weekly net assets in excess of $50 million. These fees would be the same as the fees paid to DBSAM under the existing investment management agreement.