Dividend Declaration-Replace

Siam Investment Fund
11 April 2003

The following replaces the 'Return of Equity' announcement released on
31 March 2003 at 11:00 under RNS No 4058J. 



The Board of Directors of the Siam Investment Fund wishes to announce that it
has resolved to pay a cash dividend to the shareholders. All shareholders of
record as of March 31, 2003 will be given US$1.00 per share. Payment will be
made on April 4, 2003.

Barent Springsted
Secetary to the Board of Directors
Phone: [phone]


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