PHILADELPHIA, April 11, 2018 /PRNewswire/ -- Aberdeen Chile Fund, Inc. CH (the "Fund"), a closed-end equity fund, announced today that shareholders of the following closed-end funds: Aberdeen Emerging Markets Smaller Company Opportunities Fund, Inc. ("ABE"), Aberdeen Israel Fund, Inc. ("ISL"), Aberdeen Indonesia Fund, Inc. ("IF"), Aberdeen Latin America Equity Fund, Inc. ("LAQ"), Aberdeen Singapore Fund, Inc. ("SGF"), Aberdeen Greater China Fund, Inc. ("GCH") and The Asia Tigers Fund, Inc. ("GRR" and collectively with ABE, ISL, IF, LAQ, SGF and GCH, the "Target Funds", and together with the Fund, the "Combined Fund") have each approved a reorganization into the Fund. The reorganizations are expected to close on April 27, 2018.

Effective April 30, 2018, the Combined Fund's name will be changed to Aberdeen Emerging Markets Equity Income Fund, Inc. and traded under the ticker symbol "AEF."

The Combined Fund will commence a tender offer for its shares that, together with a special distribution of capital gains, will aggregate up to a maximum distribution of 50%, and not less than 40%, of the net assets of the Fund post-consolidation. Barring exceptional or unforeseen circumstances, the Combined Fund anticipates announcing the amount of the tender offer and an estimate of the special capital gains distribution within approximately 10 business days after the closing of the consolidation, both of which are expected to be completed and paid within approximately 60 days following the closing of the consolidation. Additional details regarding the tender offer and special distribution will be announced in a future press release.

The Combined Fund will seek to provide both current income and long-term capital appreciation by investing, under normal market conditions, at least 80% of its net assets, plus any borrowings for investment purposes, in emerging market equity securities.  Additionally, the Combined Fund, following the tender offer and capital gains distribution, intends to use leverage for investment purposes through borrowing in an amount currently estimated to be approximately 10% of total assets. The global emerging markets equity ("GEM") investment team of the Fund's adviser and its affiliates would continue to be responsible for the day-to-day management of the Combined Fund.  The GEM team works in a collaborative fashion, with all team members having both portfolio management and research responsibilities.  Devan Kaloo and Joanne Irvine will continue to lead the team that is jointly and primarily responsible for managing the Combined Fund following the consolidation.  The countries in which the GEM team currently expects to invest approximately 10% or more of the Fund's assets are Brazil, China and India, and approximately 5% or more in Indonesia, Mexico, South Africa, Taiwan and Thailand. The sectors in which the GEM team currently expects to invest approximately 10% or more of the Fund's assets are Consumer Staples, Financials, IT and Telecom Service, and approximately 5% or more in Materials, Industrials, Consumer Discretionary and Real Estate. The GEM team's expectations with respect to the percentages of leverage, country allocation and sector allocation are based on current market conditions and could vary significantly under market conditions following the consolidation.

Important Information

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 U.S. Securities and Exchange Commission ("SEC").

The information in this press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

The Fund has not commenced the tender offer described in this release.  Any tender offer will be made only by an Offer for Repurchase or Offer to Purchase for Cash, a related Letter of Transmittal and other documents which will be filed with the SEC as exhibits to a tender offer statement on Schedule TO.  Holders of Fund shares and Target Fund shares should read these documents once they are filed and become available because they will contain important information about the tender offer.  These and other documents filed by the Fund will be available to investors for free both on the SEC's website at http://www.sec.gov and from the Fund.  The offer is not being made to, nor will tenders be accepted from or on behalf of, holders of shares in any jurisdiction in which making or accepting the offer would violate that jurisdiction's laws.

For more information about the consolidation and potential benefits, please review the Fund's proxy statement/prospectus available at aberdeench.com.

International investing entails special risk considerations, including currency fluctuations, lower liquidity, economic and political risks, and difference in accounting methods.

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.

If you wish to receive this information electronically, please contact InvestorRelations@aberdeen-asset.com.

aberdeench.com

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SOURCE Aberdeen Chile Fund, Inc.