N@N

The Turkish Investment Fund, Inc. Adopts Investment Policy Changes

^{Published on 2008-12-23 13:45:15, Last Modified on 2008-12-23 13:45:53 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The Turkish Investment Fund, Inc. (NYSE: TKF) (the "Fund") announced today that, at a Special Meeting of Stockholders held on December 23, 2008, stockholders approved an amendment to the Fund's investment restriction regarding concentration of investments in any one industry. Under the amended investment restriction, the Fund will be required to invest between 25 percent and 35 percent of its total assets in the securities of issuers in one or more industries if, at the time of investment, each such industry represents 25 percent or more of the Fund's benchmark index (the "Benchmark Index"). The Fund's current Benchmark Index is the Morgan Stanley Capital International (MSCI) Turkey Index (the "Index"). The Index is a free-float weighted equity index consisting of Turkish companies. The Board may approve a new Benchmark Index in the future. The Fund will notify its stockholders of any investments of 25 percent or more of the Fund's total assets in an industry in its next semi-annual or annual report. Such notice will, to the extent applicable, include a discussion of any increased investment risks particular to such industry to which the Fund may be exposed.

The Fund is a non-diversified, closed-end management investment company, the shares of which are listed on the New York Stock Exchange. The Fund's investment objective is long-term capital appreciation, which it seeks to achieve by investing primarily in equity securities of Turkish corporations.

Morgan Stanley Investment Management Inc. ("MSIM") is the Fund's investment adviser. MSIM, together with its investment advisory affiliates, has nearly 1,000 investment professionals around the world and approximately $399 billion in assets under management or supervision as of November 30, 2008. By leveraging its global ‘community of boutiques' structure and the strength of Morgan Stanley, MSIM strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 37 countries. For further information about Morgan Stanley, please visit [ www.morganstanley.com ].