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CHILE FUND DIRECTORS APPROVE RIGHTS OFFERING

 NEW YORK, May 7 /PRNewswire/ -- The board of directors of the Chile Fund, Inc. (NYSE: CH), announced today that it has approved a rights offering to the fund's shareholders. A shareholder will have the right to acquire one additional share of the fund for between every three or four shares held, with the exact amount to be determined at a later date. Shareholders of record on the record date for the rights offering will be entitled to subscribe, subject to certain limitations and subject to allotment, for any shares not purchased pursuant to the primary subscription rights. The rights will be transferable, with the subscription period commencing on the effective date of the fund's prospectus relating to the rights offering and terminating 21 days thereafter (subject to extension for up to an additional 14 days). The record date for the offering and the subscription price will be fixed shortly prior to the effective date of the fund's prospectus and announced at that time. The rights offering will be made only by means of a prospectus.
 The Chile Fund, Inc., is a closed-end, non-diversified management investment company that seeks total return by investing primarily in Chilean securities.
 -0- 5/7/93
 /CONTACT: Chile Fund shareholder relations, 212-832-2626/
 (CH)


CO: Chile Fund, Inc. ST: New York IN: FIN SU: SRP

TS-KD -- NY071 -- 6154 05/07/93 17:28 EDT
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Publication:PR Newswire
Date:May 7, 1993
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