The Asia Tigers Fund, Inc. Announces Earnings for the Nine Months Ended July 31, 2006.

NEW YORK -- The Asia Tigers Fund, Inc. (NYSE: GRR; the "Fund"), a closed-end management investment company that seeks long-term capital appreciation by investing primarily in Asian equity securities, today announced unaudited results for the nine months ended July 31, 2006.

For the nine months ended July 31, 2006, the Fund's net investment loss totaled $15,157, equal to $0.003 per share. Net realized and unrealized gain for the nine months ended July 31, 2006, was $20,904,452, equal to $4.02 per share. For the nine months ended July 31, 2005, the Fund's net investment income was $434,869, equal to $0.07 per share. Net realized and unrealized gain for the nine months ended July 31, 2005 was $18,897,419, equal to $3.14 per share.

On July 31, 2006, total net assets of the Fund were $88,983,616 and the net asset value ("NAV") per share was $17.10, based on 5,205,186 shares outstanding. The Fund's common stock closed at $16.94 per share on the New York Stock Exchange on July 31, 2006, representing a discount of 0.94% to the Fund's July 31, 2006 NAV. On July 31, 2005, total net assets of the Fund were $83,701,723 and the NAV per share was $13.92, based on 6,013,148 shares outstanding. The Fund's common stock closed at $12.84 per share on the New York Stock Exchange on July 31, 2005, representing a discount of 7.76% to the Fund's July 31, 2005 NAV.

For the nine months ended July 31, 2006, the Fund conducted three quarterly repurchase offers. The first repurchase offer commenced on December 22, 2005 and expired on January 13, 2006. In connection with the repurchase offer, the Fund purchased 285,626 shares of capital stock at a total cost of $4,513,262, less a 2% repurchase fee of $90,943. The second repurchase offer commenced on March 24, 2006 and expired on April 17, 2006. In connection with the second repurchase offer, the Fund purchased 211,376 shares of capital stock at a total cost of $3,948,415, less a 2% repurchase fee of $78,759. The third repurchase offer commenced on June 23, 2006 and expired on July 14, 2006. In connection with the third repurchase offer, the Fund purchased 10,303 shares of capital stock at a total cost of $168,495, less a 2% repurchase fee of $3,441.

On July 31, 2006, investments in common stocks of Asian companies totaled $86,993,643 (or 97.8% of the Fund's net assets), investments in common stocks of U.S. companies totaled $331,833 (or 0.4% of the Fund's net assets), and investments in preferred stocks of Asian companies totaled $663,255 (or 0.7% of the Fund's net assets). Cash and cash equivalents (including foreign currency) totaled $1,782,210 (or 2.0% of the Fund's net assets), and liabilities in excess of other assets totaled $787,325 (or -0.9% of the Fund's net assets), resulting in net assets of $88,983,616. Key holdings and country allocations as of July 31, 2006, are set forth below.

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The holdings and allocations listed were accurate as of the date shown and are subject to change without notice. Any securities discussed should not be a recommendation to buy or sell and there is no guarantee that these securities will be held nor should it be assumed that they were or will be profitable. Past performance does not guarantee future results.

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 New York Stock Exchange 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.