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GREATER CHINA FUND FILES STATEMENT FOR INITIAL PUBLIC OFFERING

 GREATER CHINA FUND FILES STATEMENT FOR INITIAL PUBLIC OFFERING
 NEW YORK, May 19 /PRNewswire/ -- The Greater China Fund, Inc. announced that it has filed a registration statement with the Securities and Exchange Commission related to a proposed initial public offering of 4,000,000 shares of its common stock through concurrent domestic and international offerings at a price of $15.00 per share. PaineWebber Incorporated has been named as lead manager for the domestic offering and PaineWebber International (U.K.) Ltd. will lead-manage the international offering. The offerings a re expected in late June or early July 1992.
 The proceeds of the offerings will be used to seek to achieve the fund's investment objective of long-term capital appreciation through the investment of substantially all of the fund's assets in listed equity securities of companies which derive, or which are expected to derive, a significant proportion of their revenues from goods produced or sold in, trade with, or investments made or services performed in the People's Republic of China ("China companies"). Under normal market conditions, the fund will invest at least 65 percent of its total assets in equity securities of China companies listed on stock exchanges in China or Hong Kong. The fund may also invest in equity securities of China companies listed on stock exchanges located elsewhere, such as in Korea, Malaysia, Singapore or Taiwan, in unlisted equity securities of China companies and in debt securities of China companies.
 Baring International Investment (Far East) Limited, an affiliate of Barings plc, will serve as the fund's investment manager.
 Information contained herein is subject to completion or amendment. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 For a prospectus containing more complete information, including management fees and expenses and special considerations and risk factors, contact your financial representative. Please read the prospectus carefully before you invest or send money.
 -0- 5/19/92
 /CONTACT: Barbara Hynes for Greater China Fund, 212-921-1060/ CO: Greater China Fund Inc. ST: New York IN: FIN SU: OFR


TQ -- NY040 -- 1733 05/19/92 10:57 EDT
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Publication:PR Newswire
Date:May 19, 1992
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