Market Overview

The Latin American Discovery Fund, Inc. Announces Board Approval of the Liquidation of the Fund

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The Latin American Discovery Fund, Inc. (NYSE:LDF) (the "Fund")
announced today that its Board of Directors approved the liquidation and
dissolution of the Fund, subject to stockholder approval at the meeting
of stockholders to be held on October 19, 2018.

The Fund is a non-diversified, closed-end management investment company
that seeks long-term capital appreciation through investments primarily
in equity securities of Latin American issuers and by investing, from
time to time, in debt securities issued or guaranteed by a Latin
American government or governmental entity.

Morgan Stanley Investment Management, together with its investment
advisory affiliates, has more than 645 investment professionals around
the world and $474 billion in assets under management or supervision as
of June 30, 2018. 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.

About Morgan Stanley

Morgan Stanley (NYSE:MS) is a leading global financial services firm
providing investment banking, securities, wealth management and
investment management services. With offices in more than 41 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 Fund.

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