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SWISS HELVETIA FUND ANNOUNCES TERMS AND SCHEDULE FOR RIGHTS OFFERING

 SWISS HELVETIA FUND ANNOUNCES TERMS AND SCHEDULE FOR RIGHTS OFFERING
 NEW YORK, May 4 /PRNewswire/ -- The Swiss Helvetia Fund, Inc. (NYSE: SWZ) said today that the terms and schedule for its previously announced rights offering have been set.
 Under the terms of the proposed offering, subscribing fund shareholders will be able to purchase new common shares of the fund at a price equal to 90 percent of the fund's average closing price for five consecutive trading days beginning June 17.
 The record date for the offering has been set for May 14, 1992. The subscription period will begin May 15 and will end June 16, 1992.
 As previously announced, the fund is offering its shareholders non- transferable rights to subscribe to an aggregate of 800,786 shares of the fund's common stock. Shareholders will be issued one right for every share held of the record date and will be entitled to acquire one new share per ten rights held. Shareholders will also be entitled to purchase additional shares if other shareholders do not fully subscribe.
 The offering will be made only by means of a prospectus which will be distributed to fund stockholders at the commencement of the subscription period.
 The Swiss Helvetia Fund is a non-diversified, closed-end investment company investing in equity and equity-linked securities of Swiss Companies. The fund currently has approximately 8,007,859 common shares outstanding.
 The information agent for the rights offering is MacKenzie Partners, Inc., 800-322-2885.
 -0- 5/5/92
 /CONTACT: Mark H. Harnett or Stanley J. Kay of MacKenzie Partners, 212-929-5877, for the Swiss Helvetia Fund/
 (SWZ) CO: Swiss Helvetia Fund, Inc. ST: New York IN: FIN SU: OFR


PS-SM -- NY100 -- 6229 05/04/92 17:01 EDT
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Publication:PR Newswire
Date:May 4, 1992
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