Certain Morgan Stanley Closed-End Funds Declare Year-End Dividends

Each of the Morgan Stanley closed-end funds listed below (the “Funds”) today declared the following dividends.

EX-DATE

RECORD DATE

PAYABLE DATE

12/22/09

12/24/09

01/08/10

Name of Closed-EndManagement Investment Company

Ticker

Per Share of NetInvestment Income

        
      
      
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Morgan Stanley Asia-Pacific Fund, Inc.
        
        
           
        
        
          APF
        
        
           
        
        
          $0.2604
        
      
      
        
          Morgan Stanley Emerging Markets Debt Fund, Inc.
        
        
           
        
        
          MSD
        
        
           
        
        
          $0.2631(Quarterly)
        
      
      
        
          Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.
        
        
           
        
        
          EDD
        
        
           
        
        
          $0.3000 (Quarterly) *
        
      
      
        
          Morgan Stanley Emerging Markets Fund, Inc.
        
        
           
        
        
          MSF
        
        
           
        
        
          $0.1865
        
      
      
        
          Morgan Stanley Frontier Emerging Markets Fund, Inc.
        
        
           
        
        
          FFD
        
        
           
        
        
          $0.2085
        
      
      
        
          Morgan Stanley Global Opportunity Bond Fund, Inc.
        
        
           
        
        
          MGB
        
        
           
        
        
          $0.1676 (Quarterly)
        
      
      
        
          Morgan Stanley High Yield Fund, Inc.
        
        
           
        
        
          MSY
        
        
           
        
        
          $0.1295(Monthly)
        
      
      
        
          The Latin American Discovery Fund, Inc.
        
        
           
        
        
          LDF
        
        
           
        
        
          $0.1812
        
      
      
        
          The Malaysia Fund, Inc.
        
        
           
        
        
          MAY
        
        
           
        
        
          $0.0961
        
      
      
        
          The Turkish Investment Fund, Inc.
        
        
           
        
        
          TKF
        
        
           
        
        
          $0.1328
        
      
      
        
        
        
        
        
        
        
        
        
           
        
      
    
    

For more information call: 1-800-231-2608.

*The amount of net investment income to be paid by the fund is determined in accordance with federal income tax regulations. It is possible, that all or a portion of the fund’s fiscal year 2009 dividend may be a return of capital and that determination has not yet been made.

The amount of dividends paid by each fund may vary from time to time. Past amounts of dividends are no guarantee of future dividend payment amounts.

The final determination of the source and tax characteristics of all distributions in 2009 will be made after the end of the year.

Investing involves risk and it is possible to lose money on any investment in the Funds.

In order to comply with the requirements of Section 19 of the Investment Company Act of 1940, The Fund will provide its shareholders of record on the record date with a Section 19 Notice disclosing the sources of its dividend payment when a distribution includes anything other than net investment income. The Section 19 Notice is not provided for tax reporting purposes but for informational purposes only.

Morgan Stanley Investment Management, together with its investment advisory affiliates, has nearly 1,000 investment professionals around the world and approximately $386 billion in assets under management or supervision as of September 30, 2009. By leveraging its global ‘community of boutiques’ structure and the strength of Morgan Stanley, 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 36 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.