The Malaysia Fund, Inc. Announces Stockholder Approval of Liquidation of the Fund

The Malaysia Fund, Inc. (NYSE: MAY) (the “Fund”) is pleased to announce that its stockholders approved the plan of liquidation and dissolution (the “Plan”) recommended by the Board of Directors at the Fund’s Annual Meeting of Stockholders held on July 24, 2012. In accordance with the Plan, the Fund’s investment adviser, Morgan Stanley Investment Management Inc., will commence the orderly liquidation of the Fund’s assets. The Fund will make one or more liquidating distributions to the Fund’s stockholders, which will be paid in cash.

It is currently anticipated that during the third quarter of 2012 the liquidation will be completed and the Fund’s shares of common stock will cease to trade on the New York Stock Exchange.

The Fund is a closed-end, U.S.-registered management investment company and seeks long-term capital appreciation through investment primarily in equity securities of Malaysian companies.

Morgan Stanley Investment Management, together with its investment advisory affiliates, has 600 investment professionals around the world and $311 billion in assets under management or supervision as of June 30, 2012. MSIM 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.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 43 countries. For further 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.