The Mexico Fund, Inc. announced today that based upon current information, approximately 5,079,741 shares or 28.56% of the Fund’s 17,783,858 outstanding shares of common stock were submitted for repurchase and not withdrawn in response to the Fund’s in-kind repurchase offer which expired yesterday.
Under the terms of the repurchase offer, the Fund offered to repurchase up to 5% of its outstanding shares of common stock at net asset value, reduced by a 1.25% repurchase price adjustment, for a repurchase price of 98.75% of net asset value. The repurchase pricing date for the repurchase offer will be August 10, 2005. Because the number of shares submitted for repurchase exceeded 5% of outstanding shares, the Fund will repurchase submitted shares on a pro-rata basis. The pro-rata portion of the Fund’s portfolio securities will be transferred to participating stockholders’ Mexican accounts on or before August 17, 2005, the Repurchase Payment Deadline. The repurchase offer will generally be a taxable transaction for participating stockholders.