The Thai Capital Fund Announces Further 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 its adjourned 2012 Annual Meeting of Stockholders, with respect to the proposal to liquidate the Fund, which was reconvened on June 18, 2012, will be further adjourned to permit the solicitation of additional votes. The proposal to liquidate the Fund 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, July 2, 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 proposal to liquidate is outlined within the Fund's latest proxy statement. Stockholders are strongly encouraged to vote by proxy, which is customary in corporate meetings of this kind. You may also vote by calling 1-800-776-9437.

Contact: John J. O'Keefe Telephone: [phone] or [phone] www.daiwast.com Email Contact