Morgan Stanley Investment Management Announces Portfolio Management Changes for The Latin American Discovery Fund, Inc.

Morgan Stanley Investment Management announced today portfolio management changes for The Latin American Discovery Fund, Inc. LDF (the "Fund"). The Fund is managed by the Emerging Markets Equity team of Morgan Stanley Investment Management Inc. (the "Adviser"). The team consists of portfolio managers and analysts. The members of the team jointly and primarily responsible for the day-to-day management of the Fund are Gaite Ali, Eric Carlson and Paul C. Psaila, each a Managing Director of the Adviser. Ms. Ali has been associated with the Adviser in an investment management capacity since 2007 and began managing the Fund in February 2011. Mr. Carlson has been associated with the Adviser in an investment management capacity since 1997 and began managing the Fund in November 2017. Mr. Psaila has been associated with the Adviser in an investment management capacity since 1994 and began managing the Fund in November 2017.

Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 581 investment professionals around the world and $447 billion in assets under management or supervision as of September 30, 2017. Morgan Stanley Investment Management strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide. For further information about Morgan Stanley Investment Management, please visit www.morganstanley.com/im.

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Morgan Stanley MS is a leading global financial services firm providing investment banking, securities, wealth management and investment management services. With offices in more than 42 countries, the Firm's employees serve clients worldwide including corporations, governments, institutions and individuals. For more information about Morgan Stanley, please visit www.morganstanley.com.

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 in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.

Investing involves risk and it is possible to lose money on any investment in the Funds.

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