TF Thai Capital Fund

The Thai Capital Fund, Inc. (NYSE Amex: TF) today announced that it will not declare an year-end distribution to its stockholders for 2011. It was determined that there was no excise tax basis requirement to declare a 2011 year-end distribution. However, the Fund will make a required long term capital gain distribution for the year ended December 31, 2011 pursuant to the Internal Revenue Code of 1986, as amended, in an amount and on a date in 2012 to be determined.

The Fund is a closed-end management investment company which seeks long-term capital appreciation through investment primarily in Thai equity securities.

Contact: John J. O'Keefe Telephone: (800) 933-3440 or (201) 915-3054 www.daiwast.com Email Contact