The Asia Tigers Fund, Inc. Announces Commencement Date of Quarterly Repurchase Offer.

NEW YORK -- The Asia Tigers Fund, Inc. (NYSE: GRR; the "Fund") announced today that the Fund's quarterly repurchase offer will commence today and terminate on January 12, 2007. In April 2002, stockholders of the Fund voted to adopt an interval fund structure, pursuant to which the Fund conducts quarterly repurchase offers for between 5% and 25% of the Fund's outstanding common stock. Accordingly, the Fund's Board of Directors (the "Board") authorized the Fund's repurchase offer for this quarter of up to 5% of its outstanding common stock, the details of which are as follows:

        Purpose of the Repurchase Offer - The repurchase offer is
        intended to provide Fund stockholders who wish to have their
        shares repurchased based on net asset value ("NAV") with the
        opportunity to have at least a portion of such shares
        repurchased.

        What to Expect - The repurchase offer began on December 22,
        2006, and will end on January 12, 2007. Materials will be sent
        to stockholders of record as of December 15, 2006, in
        conjunction with the start of the repurchase offer on
        December 22, 2006.

        Price - The repurchase price of the shares will be their NAV
        per share at the close of regular trading on the New York
        Stock Exchange ("NYSE") on January 19, 2007. The shares
        tendered in the repurchase offer will be subject to a
        repurchase fee of 2% of NAV for expenses directly related to
        the repurchase offer.

        Number of Shares - If more than 5% of the Fund's outstanding
        common stock is tendered, the Fund will either (1) repurchase
        all of the additional shares tendered, if the additional
        shares do not exceed 2% of the Fund's outstanding common
        stock, or (2) purchase 5% of the Fund's outstanding common
        stock on a pro-rata basis.

        Deadline - The deadline for participating in the repurchase
        offer is 5:00 p.m. New York City time on January 12, 2007. The
        NAV of the shares may fluctuate between the deadline and
        January 19, 2007, the pricing date of the repurchase offer.
        Stockholders who choose to participate in the repurchase offer
        can expect to receive payment for the shares repurchased on or
        before January 26, 2007.

During the repurchase offer, the NAV of the shares will be calculated as of the close of regular trading on the NYSE each Friday and each of the five business days (January 8, 2007, to January 12, 2007) preceding the repurchase request deadline on January 12, 2007.

The Fund's common stock has recently been trading at a premium to the Fund's NAV per share. It may not be in a stockholder's interest to tender shares in connection with this repurchase offer if the Fund's common stock continues to trade at a premium. The market price of the Fund's common stock can and does fluctuate. Accordingly, on January 19, 2007, the pricing date for this repurchase offer, the market price of the Fund's common stock may be above or below the Fund's NAV per share.

To obtain the weekly NAV or the NYSE closing price of the Fund's common stock, or for questions concerning the repurchase offer or for requests for the Fund's repurchase offer materials, stockholders should contact Georgeson Inc. ("Georgeson"), the Fund's Information Agent, toll free at 1-877-847-1383, or, for banks or brokers, at 212-440-9800.

Neither the Fund, its Investment Manager nor its Board is making any recommendation to any stockholder whether to tender shares in the repurchase offer. The Fund and the Board urge stockholders to read and evaluate the repurchase offer materials carefully before deciding whether to participate in the repurchase offer. This announcement is not an offer to purchase nor a solicitation of an offer to sell shares of the Fund. The repurchase offer is being made only through the Offer to Repurchase and the related Letter of Transmittal. Holders of Fund shares should read these documents when they are available because they contain important information. These and other filed documents will be available to investors for free both at the website of the Securities and Exchange Commission and from Georgeson. The repurchase offer is not being made to, nor will tenders be accepted from or on behalf of, holders of shares in any jurisdiction in which making or accepting the repurchase offer would violate that jurisdiction's laws.

The Fund is a closed-end management investment company that seeks long-term capital appreciation by investing primarily in Asian equity securities. The Fund conducts quarterly repurchase offers and is traded on the NYSE under the trading symbol "GRR."

Blackstone Asia Advisors L.L.C. serves as the Investment Manager to the Fund. The Investment Manager is an affiliate of The Blackstone Group.

Information on the Fund can be obtained on the Blackstone website (www.blackstone.com) or by calling the Fund's toll-free phone number at 1-866-800-8933.

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.