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MORGAN STANLEY ASIA-PACIFIC FUND, INC. ANNOUNCES PROPOSED RIGHTS OFFERING

NEW YORK, March 8 /PRNewswire/ -- Morgan Stanley Asia-Pacific Fund, Inc. (NYSE: APF) announced today the filing of a Registration Statement with the Securities and Exchange Commission regarding a proposed rights offering to holders of the Fund's common stock. As indicated in the Registration Statement, the Fund proposes issuing to the shareholders transferable rights entitling the holders to subscribe for an aggregate of approximately 18,000,000 shares of the Fund's common stock at the rate of one share of common stock for each three rights held.

The Fund anticipates that the Rights will be issued to shareholders as of a record date expected to be in mid-April 1996.

Morgan Stanley & Co. Incorporated has been selected by the Fund to act as Dealer Manager for the rights offering.

The Fund is a non-diversified, closed-end management investment company. The Fund's investment objective is long-term capital appreciation, which it seeks to achieve by investing primarily in equity securities of Asian-Pacific issuers. The Fund also may invest, from time to time, in debt securities issued or guaranteed by Asian-Pacific governments or governmental entities. Morgan Stanley Asset Management Inc. is the Fund's investment manager.

For further information regarding the Fund and its proposed rights offering, please contact Mark Kucera of Chase Global Funds Service Company at 617-557-8844, 73 Tremont Street, Boston, Massachusetts, 02108.

A Registration Statement relating to the 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 press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the 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.
 -0- 3/8/96


/CONTACT: Mark Kucera of Chase Global Funds Service Company, 617-557-8844/

(APF)

CO: Morgan Stanley Asia-Pacific Fund, Inc. ST: New York IN: FIN SU: SRP

SB-DP -- NEF006 -- 1759 03/08/96 17:46 EST
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Publication:PR Newswire
Date:Mar 8, 1996
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