Corrected Press Release - The India Fund, Inc. Announces Expiration of Semi-Annual Repurchase Offer: All Shares Tendered Will Be Accepted for Payment.

NEW YORK -- Earlier this morning, The India Fund, Inc. (the "Fund") announced the expiration of its semi-annual repurchase offer for its shares of common stock. The offer and withdrawal rights expired on Friday, September 10, 2004. The Fund offered to repurchase up to 5% of its outstanding shares of common stock for cash at a price approximately equal to net asset value as of September 17, 2004. As of Friday, September 10, 2004, 23,302,828 Fund shares were outstanding. The repurchase amount of 5% of Fund shares represents approximately 1,165,141.3986 shares outstanding. The preliminary count by PFPC Inc., the Fund's transfer agent, indicated that approximately 653,382.7044 shares (approximately .028% of the Fund's outstanding shares) were validly tendered and not withdrawn prior to the expiration of the Fund's repurchase offer. This determination is subject to final confirmation and the proper delivery of all shares tendered and not withdrawn, including shares tendered pursuant to the guaranteed delivery procedure. 2,870 shares are estimated to be subject to this guarantee. Contrary to what was stated in the press release previously issued this morning, all shares tendered will be accepted for payment. Shares will be repurchased for cash at a price equal to their net asset value as of the close of regular trading on the New York Stock Exchange on September 17, 2004, subject to a repurchase fee of 2% of net asset value per share, which will be deducted from the repurchase price.

The India Fund, Inc. is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in Indian equity securities. The Fund conducts semi-annual repurchase offers and is traded on the New York Stock Exchange under the trading symbol "IFN".

Advantage Advisers, Inc., serves as the Investment Manager to the Fund. The Investment Manager is a wholly-owned subsidiary of Oppenheimer Asset Management Inc., which is an affiliate of Oppenheimer & Co. Inc.

Periodically updated information on the Fund can be obtained through the Fund's toll-free phone line at 1-800-421-4777. Information provided includes a recorded update including monthly portfolio manager commentary, the weekly NAV calculation and other information.

This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking and can be identified by the use of words such as "may," "will," "expect," "anticipate," "estimate," "believe," "continue" or other similar words. Such forward-looking statements are based on the Fund's current plans and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Additional information concerning such risks and uncertainties are contained in the Fund's filings with the Securities and Exchange Commission.