NEW YORK, July 28, 2011 /PRNewswire/ -- The Taiwan Fund,
Inc. (the "Fund") (NYSE: TWN) announces today that it has been
informed by its Investment Manager, Martin
Currie, Inc. ("Martin
Currie"), that Chris Ruffle
ceased to be a Vice President of the Fund from July 28, 2011 and will cease to be a Portfolio
Manager of the Fund from July 29,
2011. The Fund's Board expects to designate a replacement
Portfolio Manager in consultation with Martin Currie over the next several days.
Martin Currie has also informed
the Fund that Heartland Capital Management Limited ("Heartland")
has given notice that in November
2011, Heartland intends to exercise its option to acquire
Martin Currie Ltd.'s interest in MC China Limited, the joint
venture of Martin Currie's parent,
Martin Currie Ltd. and Heartland through which Martin Currie has provided the Fund with the
services of Chris Ruffle, as well as
a team of analysts based in Shanghai. It is anticipated that this
acquisition will be completed early in November, 2011.
The Fund is a diversified closed-end investment company, which
seeks long term capital appreciation primarily through investments
in equity securities listed on the Taiwan Stock Exchange.
Shares of the Fund are listed on the New York Stock Exchange
under the ticker symbol "TWN." For additional information on the
Fund, including information on the Fund's holdings, visit the
Fund's website at www.thetaiwanfund.com or call 1-877-864-5056.
SOURCE The Taiwan Fund, Inc.