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KOREAN INVESTMENT FUND FILES REGISTRATION STATEMENT WITH SEC FOR INITIAL PUBLIC OFFERING OF COMMON STOCK

 KOREAN INVESTMENT FUND FILES REGISTRATION STATEMENT
 WITH SEC FOR INITIAL PUBLIC OFFERING OF COMMON STOCK
 NEW YORK, Nov. 27 /PRNewswire/ -- The Korean Investment Fund, Inc. today announced that a registration statement relating to its initial public offering of 5,000,000 shares of common stock at $12 per share has been filed with the Securities and Exchange Commission.
 Shares of the fund have been approved for listing on the New York Stock Exchange.
 The fund's shares are being offered in concurrent domestic and international offerings of 3,500,000 shares and 1,500,000 shares, respectively. The managing underwriters for the domestic offering are PaineWebber Incorporated (books) and Donaldson, Lufkin and Jenrette Securities Corporation and the co-lead managers for the international offering are PaineWebber International (books), Donaldson, Lufkin and Jenrette Securities Corporation and Tong Yang Securities Co., Ltd. The underwriters and managers have been granted options to purchase an aggregate of up to 750,000 additional shares to cover over-allotments.
 The Korean Investment Fund, Inc. is a newly organized, non-diversified, closed-end investment company. The fund's investment objective is long-term capital appreciation through investment primarily in Korean equity securities.
 The investment adviser and administrator of the fund is Alliance Capital Management L.P., a major international investment manager with total assets of $58 billion under management as of Sept. 30, 1991. Orion Asset Management Co., Ltd., a subsidiary of Tong Yang Securities Co., Ltd., serves as investment manager of the fund. Robert Kim, formerly the portfolio manager of The Korea Fund, Inc., will serve as portfolio manager of The Korean Investment Fund.
 -0- 11/27/91
 /CONTACT: Jerry Seymour of Gavin Anderson Doremus, 212-921-1060, for The Korean Investment Fund/ CO: The Korean Investment Fund, Inc. ST: IN: FIN SU: OFR


JT -- NY017 -- 7702 11/27/91 11:18 EST
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Publication:PR Newswire
Date:Nov 27, 1991
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