The Thai Fund, Inc. Announces the Resumption of Its Rights Offering

The Thai Fund, Inc. (the "Fund") (NYSE: TTF) announced
today that the Subscription Period for its previously suspended rights
offering for shares of the Fund's common stock (the "Rights Offering")
will resume on July 7, 2006 and the expiration date will be extended
so that the Subscription Period will expire on July 20, 2006, unless
further extended by the Fund. The original record date will continue
to be May 23, 2006.
   In accordance with an undertaking made by the Fund in the
Registration Statement it filed with the Securities and Exchange
Commission in connection with the Rights Offering, the Fund suspended
its Rights Offering on June 14, 2006 due to the Fund's net asset value
having declined more than 10% from $9.02 on May 23, 2006 (the
effective date of the Fund's registration statement) to $8.06 on June
12, 2006. All terms of the Rights Offering will remain the same,
except that the expiration date for the Rights Offering is extended
until July 20, 2006, unless further extended (the "Expiration Date").
The Fund will supplement the Prospectus relating to the Rights
Offering to advise stockholders of the decline in net asset value of
the Fund and of the new Expiration Date. The Rights Offering will
continue to be made on the same terms as described in the Prospectus
(and using the same subscription documentation previously supplied to
stockholders), except for the change in expiration date.
   The Fund is issuing to its stockholders non-transferable Rights
entitling the holders to subscribe for an aggregate of approximately
3,320,650 shares of the Fund's common stock. Each stockholder is to be
issued one Right for each share of the Fund's common stock owned on
the record date, May 23, 2006.
   The Rights entitle the stockholders to acquire one share for each
four Rights held. The Subscription Period will expire at 5:00 p.m.,
New York time, on July 20, 2006, unless further extended. The actual
subscription price per share will be determined on the Expiration Date
and will be 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 Rights Offering and the four preceding trading
days, with a requirement that the price be no lower than the net asset
value per share of the Fund's common stock 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 over-subscription privilege. If all available shares
are then subscribed for, the Fund may issue additional shares of an
amount up to 25% of the shares available pursuant to the Rights
Offering. If all Rights are exercised (including the additional 25%),
the Fund will issue approximately 4,150,810 shares of its common stock
in the Rights Offering.
   The Fund is listed on the New York Stock Exchange under the ticker
symbol "TTF." The Fund is a closed-end management investment company
seeking long-term capital appreciation through investment primarily in
equity securities of companies organized under the laws of the Kingdom
of Thailand.
   Persons seeking further information regarding the Fund's Rights
Offering, or interested in obtaining a prospectus, should contact
their broker or nominee, or contact the Fund's Information Agent:
-0-
*T
    GEORGESON SHAREHOLDER COMMUNICATIONS, INC.
    17 State Street, 10th Floor
    New York, NY 10004
    Toll free: [phone]
    or
    For banks and brokers: [phone]
*T

   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 $440 billion in assets under management or supervision as of
May 31, 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.
   This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any state in which such offer, solicitation or sale
would be unlawful under the securities laws of any such state.