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THE LATIN AMERICAN DISCOVERY FUND, INC. ANNOUNCES PROPOSED RIGHTS OFFERING

 NEW YORK, Nov. 1 /PRNewswire/ -- The Latin American Discovery Fund, Inc. (NYSE: LDF) announced today the filing of a Registration Statement with the Securities and Exchange Commission on Friday, Oct. 29, 1993 regarding a proposed rights offering to holders of the Fund's common stock. As indicated in the Registration Statement, the Fund proposes issuing to its shareholders transferable rights entitling the holders to subscribe for an aggregate of approximately 1,980,000 shares of the Fund's common stock at the rate of one share of common stock for each three rights held. The Fund expects that the rights will be listed for trading on the New York Stock Exchange.
 The Fund anticipates that the Rights will be issued to shareholders as of a record date expected to be in late November or early December 1993.
 The Fund is a non-diversified, closed-end management investment company. The Fund's investment objective is long-term capital appreciation through investment primarily in equity securities of Latin American issuers. Morgan Stanley Asset Management Inc. (NYSE: MS) is the Fund's investment manager.
 The shares of the Fund are listed on the New York Stock Exchange under the symbol "LDF."
 For further information regarding the Fund and its proposed rights offering, please contact Warren J. Olsen, president of the fund, at 212-296-7100, c/o Morgan Stanley Asset Management Inc., 1221 Avenue of the Americas, New York, N.Y., 10020.
 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- 11/1/93
 /CONTACT: Warren J. Olsen, president of The Latin American Discovery Fund, 212-296-7100/
 (LDF MS)


CO: The Latin American Discovery Fund, Inc.; Morgan Stanley Asset
 Management Inc. ST: New York IN: FIN SU: OFR


DJ-JL -- NE018 -- 9361 11/01/93 17:31 EST
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Publication:PR Newswire
Date:Nov 1, 1993
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