The Thai Fund, Inc. Announces Proposed Record Date for Its Rights Offering

The Thai Fund, Inc. (the "Fund") (NYSE: TTF), a
closed-end management investment company, announced the proposed
record date for an anticipated rights offering of its shares of common
stock (the "Offering"). Subject to the registration statement for the
Offering becoming effective under the Securities Act of 1933, as
amended, the Fund will issue to stockholders of record as of May 23,
2006 (the "Record Date") one non-transferable right for each share of
common stock held. Four rights will entitle the holder to purchase one
share of common stock at the subscription price.
   The Offering will only be made by means of a prospectus to be
distributed to Record Date stockholders on or about May 26, 2006. The
subscription price has not yet been determined by the Fund. The
subscription price, which will be determined on the expiration date of
the Offering (the "Expiration Date"), will equal 95% of the average of
the last reported sales price per share of the Fund's common stock on
the New York Stock Exchange on the Expiration Date of the Offering and
for the four preceding trading days, with a requirement that the price
be no lower than the net asset value per share of common stock of the
Fund at the close of trading on the New York Stock Exchange on the
Expiration Date.
   Stockholders who fully exercise all rights issued to them will be
entitled to subscribe for additional shares at the subscription price
pursuant to an oversubscription privilege. If all available shares are
then subscribed for, the Fund may issue additional shares in an amount
up to 25% of the shares available pursuant to the Offering. If all
subscription rights are exercised (including the additional 25%), the
Fund will issue approximately 4,150,810 shares of its common stock in
the Offering.
   The subscription rights are exercisable from May 30, 2006 until,
up to and including, 5:00 p.m. New York City time on June 19, 2006,
the Expiration Date, unless extended by the Fund.
   For further information regarding the Fund's rights offering, or
to obtain a Prospectus, when available, please contact the Fund's
Information Agent:
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         GEORGESON SHAREHOLDER COMMUNICATIONS, INC.
         17 State Street, 10th Floor
         New York, NY 10004
         Toll free: [phone] or
         For Banks and Brokers: [phone]
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   The Fund's U.S. investment adviser is Morgan Stanley Investment
Management Inc. ("MSIM"), a wholly owned subsidiary of Morgan Stanley.
MSIM, with over 400 investment professionals around the world, has
more than $442 billion in assets under management or supervision as of
February 28, 2006. MSIM offers investment management services to a
diverse client base, which includes governments, institutions,
corporations and individuals.
   Morgan Stanley (NYSE: MS) is a global financial services firm and
a market leader in securities, investment management and credit
services. With more than 600 offices in 30 countries, Morgan Stanley
connects people, ideas, and capital to help clients achieve their
financial aspirations.
   Investors should consider the Fund's investment objective, risks
and charges and expenses carefully before investing. The prospectus
contains this and other information about the Fund and can be obtained
from Georgeson Shareholder Communications, Inc., as set forth above.
Investors should read the prospectus carefully before investing.
   Please note that a registration statement relating to the Fund's
shares of common stock has been filed with the Securities and Exchange
Commission but has not yet become effective. The information in this
registration statement, and this press release, is not complete and
may be changed. These securities may not be sold nor may offers to buy
be accepted prior to the time the registration statement becomes
effective. This communication shall not constitute an offer to sell or
the solicitation of any offer to buy, nor shall there by any sale of
these securities in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any state.
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For media inquiries, please contact:
Andrea Slattery
Media Relations
212-762-3487
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