Directorate Change

Siam Investment Fund
10 June 2003


                            SIAM INVESTMENT FUND

The Directors of Siam Investment Fund (the 'Fund') wish to announce that Mr. 
Martin Michael Adams has resigned from the Board of the Fund with effect June 
10, 2003.


Barent Springsted                                               June 10, 2003
Secretary to the Board of Directors
Bangkok, THAILAND
Tel: [phone]


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