On
April 30, 2004, total net assets of the Fund were $86,461,592 and the
NAV per share was $11 .3 %
6.

Addresses of about 250 furniture companies are also included.

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11
per share on the New York Stock Exchange on April 29, 2005,
representing a discount of 10. Liabilities in excess of other assets totaled $4,173,002 (or
5.3% of the Fund's net assets), resulting in net assets of
$78,644,820. Data on
woodworking machinery imports and exports are available for some of
the considered countries.

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In connection with the first repurchase offer, the Fund
purchased 350,672 shares of capital stock at a total cost of
$4,288,719, less a 2% repurchase fee of $85,774.0 %
4. China 6. All
statements other than statements of historical fact are
forward-looking and can be identified by the use of words such as
"may," "will," "expect ," "anticipate," "estimate," "believe,"
"continue," or other similar words.

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This press release may contain statements regarding plans and
expectations for the future that constitute forward-looking statements
within the Private Securities Litigation Reform Act of 1995.

fruitwood bamboo

72 per share. Korea 25. Hong Kong 22.4 %
5.

patel 8m

Business Editors

NEW YORK----The Asia Tigers Fund,
Inc. Net
realized and unrealized gain for the six months ended April 30, 2005
was $9,917,074, equal to $1. Samsung Electronics - (Korea - Electric Products
-Miscellaneous) 8. Past
performance does not guarantee future results. Inc. Additional information concerning such risks and
uncertainties are contained in the Fund's filings with the Securities
and Exchange Commission.

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22% to the
Fund's April 30, 2004 NAV.7% of
the Fund's net assets), and cash and cash equivalents (including
foreign currency) totaled $4,667,900 (or 5.8 %

Portfolio Composition by Country at April 30, 2005 % of Net Assets

1.
For each country the furniture supply structure is analysed, with
data on furniture companies and employment.

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Any securities
discussed should not be construed as a recommendation to buy or sell
and there is no guarantee that these securities will be held nor
should it be assumed that they were or will be profitable.

patel relatively

8 %
3. Hon Hai Precision - ( Taiwan - Electronics
Components) 1.

Products covered include: office furniture, home furniture
(household furniture), kitchen furniture, upholstered furniture (sofas
and armchairs), non-upholstered seats, bedroom furniture, rubberwood
furniture , hardwood furniture, panel based furniture, wood furniture,
metal furniture, seats parts, parts of furniture, sawnwood, wood-based
panels, plywood, veneer sheets, particle board panels, fibreboard
panels, MDF (medium density fibreboard), woodworking machinery.

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(the "Fund"), a closed-end management investment company that
seeks long-term capital appreciation by investing primarily in Asian
equity securities, today announced unaudited results for the six
months ended April 30, 2005. Hutchison Whampoa - (Hong Kong - Diversified
Operations) 2 . Thailand 4. Information
provided includes a recorded update including monthly portfolio
manager commentary, the weekly NAV calculation and other information .

lump vinegar

The second
repurchase offer commenced on March 24, 2005 and expired on April 15,
2005.2 %
3 . Singapore 8.8 %

The holdings and allocations listed were accurate as of the date
shown and are subject to change without notice. serves as the Investment Manager to the
Fund.
Periodically updated information on the Fund can be obtained
through the Fund's toll-free phone line at 1-800-421-4777.
The wood and forestry sector is also considered: production,
imports, exports and consumption data are provided for the main
semi-finished wood products (sawnwood; wood-based panels: plywood,
veneer sheets, particle board panels, fibreboard panels, MDF).

charcoal relatively

Key holdings and country allocations as of April 30,
2005, are set forth below.5 %
4.

chunks wenang

13, based on 7,771,126 shares outstanding.01 per share. In connection with
the second repurchase offer, the Fund purchased 333,138 shares of
capital stock at a total cost of $4,137,580, less a 2 % repurchase fee
of $82,752. Infosys Technologies (India - Applications
Software) 2.0 %
8. Short profiles of the main
furniture manufacturers , with turnover, production facilities,
employees and product mix, are provided.

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The Fund's common stock closed at $11.
During the six months ended April 30, 2005, the Fund's net
investment income totaled $89,477, equal to $0.
For the six months ended April 30, 2005, the Fund conducted two
quarterly repurchase offers.1 %
7. China Mobile - ( Hong Kong - Cellular
Telecommunications) 1.8 %
10.1 %
9.

Research and Markets: The Furniture Industry in South East Asia Korea Taiwan

Business Editors/Home + Garden Writers

DUBLIN, Ireland-- --Research and
Markets (http://www.researchandmarkets.

bamboo fruitwood

42, based on
6,329,630 shares outstanding ., which is an affiliate of
Oppenheimer + Co.

barbeque asli

7% of the Fund's net assets), investments
in preferred stocks of Asian companies totaled $529,084 (or 0.3 %
5. The Investment Manager is a wholly-owned subsidiary of
Oppenheimer Asset Management Inc.

wenang vinegar

77 per share on the New York Stock
Exchange on April 30, 2004, representing a discount of 12.9 %
9. India 9.

8m lump

55% to the Fund's April 30, 2005 NAV. Shinhan Financial Group - (Korea - Diversified
Financial Services) 1.4 %
8.

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Taiwan Semiconductor - (Taiwan - Semiconductor
Components) 3. Cheung Kong Holdings - (Hong Kong - Real Estate) 2.8 %
2. Taiwan 16.researchandmarkets.

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Net realized and unrealized gain for the six months
ended April 30, 2004 was $5,560,564, equal to $0. DBS Group Holdings - (Singapore - Commercial
Banks) 2.2 %
6. Indonesia 1.com/reports/c12647) has
announced the addition of The Furniture Industry in South East Asia,
Korea, Taiwan to their offering. Factors determining the demand for furniture are examined , as
well as furniture distribution channels and furniture prices.

bbq woodchips

The
Fund's common stock closed at $9.01 per share.9% of the Fund's net
assets). The Fund conducts quarterly repurchase offers and is
traded on the New York Stock Exchange under the trading symbol "GRR".

Furniture imports and exports are broken down by country and
product (office furniture, kitchen furniture, upholstered furniture,
non-upholstered seats, bedroom furniture, seats parts and parts of
furniture ).

anji barbecues

patel barbecues

57 per share.
On April 30, 2005, investments in common stocks of Asian companies
totaled $77 ,620,838 (or 98.4 %
7. Such forward-looking statements
are based on the Fund's current plans and expectations, and are
subject to risks and uncertainties that could cause actual results to
differ materially from those described in the forward-looking
statements.
This report offers a comprehensive picture of the furniture sector
in South East Asia, Korea and Taiwan, providing trends in furniture
production, furniture consumption, furniture imports and exports in
Indonesia, Malaysia, Philippines , Thailand, Singapore, South Korea,
Taiwan.

For more information visit
http://www.

chunks 8m

The Asia Tigers Fund Inc. Announces Earnings For The Six Months Ended April 30 2005

On April 30, 2005 , total net assets of the Fund were $78,644,820
and the net asset value ("NAV") per share was $12 . For the six months ended
April 30, 2004, the Fund's net investment loss was $42,038, equal to
$0.

Key Holdings and Country Allocations

Top Ten Holdings at April 30, 2005 % of Net Assets

1.7 %
2. Malaysia 5.com/reports/c12647

wenang charcoal

The first repurchase offer commenced on
December 23 , 2004 and expired on January 14, 2005. Esprit Holdings - (Hong Kong - Distribution
+ Wholesale ) 2.

The Fund is a closed-end management investment company that seeks
long-term capital appreciation by investing primarily in Asian equity
securities .

Advantage Advisers, Inc.