Himalayan Fund N.V. End of contract with investment advisor (4570N)

TIDMHYF

RNS Number : 4570N

Himalayan Fund N.V.

28 September 2012

Press Release

Himalayan Fund N.V. ends contract with investment advisor

AMSTERDAM, Friday, September 28, 2012 - Himalayan Fund N.V., the Dutch investment Fund listed on NYSE Euronext Amsterdam and The London Stock Exchange, today announces that its contract with Iceman Capital Advisors Ltd has been terminated by mutual agreement, effective September 30th, 2012.

Iceman Capital Advisors Ltd, the Jersey based investment advisor, has been the Investment Advisor to the Fund since June 2006. Indasia Fund Advisors Pte. Ltd. of Mumbai, which has been providing Indian market intelligence and company research to Iceman Capital Advisors Ltd. will be engaged directly by the Fund to provide continuing support to the Investment Committee. The Fund's board and management process will remain as before, providing stability and continuity. The directors will continue to use their long experience with the Fund to further the best interests of shareholders.

This change is the result of efforts by the directors to find ways to reduce the expense base of the Fund. The Board continues to look for ways to reduce its operating expenses as well as to find additional distribution partners to grow the Fund's assets under management.

About Himalayan Fund N.V.

Himalayan Fund N.V. is an investment fund with variable capital incorporated under Dutch Law. The primary objective of the Fund is to generate long-term capital gains for shareholders from investing in India. Access to Indian markets by foreigners is restricted, but thanks to its registration with the Securities and Exchange Board of India as a 'Foreign Institutional Investor' Himalayan Fund N.V. is able to hold all of its own investments directly and offer shareholders the benefits of the double tax treaty between the Netherlands and India.

The Fund 's Ordinary Shares are traded through Euronext Amsterdam's TCS system once a week at a Transaction Price based on Net Asset Value. Its Ordinary Shares are also traded on the London Stock Exchange. The Net Asset Value is published every Friday on www.himalayanfund.nl

Note to the editor, not for publication

For more information you can contact:

Himalayan Fund N.V.

Ian McEvatt, Chairman

T. [phone]

M. [phone]

CitySavvy B.V.

Robbert ter Hart

T. [phone]

E. [e-mail]

This information is provided by RNS

The company news service from the London Stock Exchange

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