The Thai Capital Fund Announces Adjournment of Annual Meeting of Stockholders for 2012

  The Thai Capital Fund, Inc. (NYSE Amex: TF), a closed-end management investment company which seeks long-term capital appreciation through investment primarily in Thai equity securities (the "Fund"), announced today that there were insufficient votes at the Annual Meeting of Stockholders held on June 4, 2012 to pass the proposal to liquidate and dissolve the Fund, and therefore the Annual Meeting, with respect to the proposal to liquidate the Fund, was adjourned to permit the solicitation of additional votes. This proposal requires the affirmative vote of the holders of at least 66 2/3% of the outstanding shares of capital stock of the Fund entitled to vote. The Annual Meeting of Stockholders, with respect to the proposal to liquidate the Fund, will reconvene on Monday, June 18, 2012, at the offices of Daiwa Capital Markets America Holdings, Inc., Financial Square, 32 Old Slip, 14th Floor, New York, New York 10005 at 4:00 p.m., New York time.

The Thai Capital Fund, Inc. Contact: John J. O'Keefe Telephone: [phone] or [phone] www.daiwast.com Email Contact