WASHINGTON, DC -- 11/02/09 --
The Mexico Fund, Inc. (NYSE: MXF) ("the
Fund") published today the schedule of in-kind proceeds distributed in
connection with its In-Kind Tender Offer (the "Offer"), which began
September 3, 2009 and expired on October 5, 2009 (the "Expiration Date").
As of the Expiration Date, 9.20% of the Fund's portfolio was comprised of
cash and short-term non-equity securities, less other liabilities in excess
of assets ("net cash position"). Consistent with the terms and conditions
of the Fund's Offer Notice and related documents, the Fund elected to pay a
higher pro-rata percentage of equity securities as proceeds of the Offer in
order to adjust for the net cash position. The following table shows (1)
the percentage of the Fund's net assets represented by each issuer held in
its portfolio as of the Expiration Date; and (2) the approximate percentage
of the in-kind proceeds represented by each issuer:
% of Net Assets
as of October % of In-Kind
Issuer Series 5, 2009 Proceeds Paid
--------------- --------------- ---------------
ALFA A 2.13 2.34
AMX L 18.56 20.43
ASUR B 1.12 1.23
AXTEL CPO 0.94 1.03
BIMBO A 3.76 4.14
BOLSA A 2.32 2.56
CEMEX CPO 5.27 5.80
COMPART O 1.13 1.25
FEMSA UBD 3.25 3.59
GCARSO A1 2.36 2.59
GCC * 1.88 2.07
GEO B 2.15 2.37
GFAMSA A 1.97 2.17
GFNORTE O 2.96 3.26
GMEXICO B 6.64 7.31
GMODELO C 3.16 3.48
ICA * 3.55 3.91
ICH B 1.42 1.57
KIMBER A 3.33 3.67
LAB B 0.60 0.66
LAMOSA * 0.08 0.09
MEGA CPO 1.36 1.50
MEXCHEM * 2.63 2.90
OMA B 0.96 1.06
TLEVISA CPO 3.99 4.38
URBI * 1.08 1.19
WALMEX V 12.20 13.43
--------------- --------------- ---------------
Total Portfolio 90.80 99.96
Net Cash 9.20 0.04
--------------- --------------- ---------------
Total 100.00 100.00
--------------- --------------- ---------------
The Offer was not part of a plan to liquidate the Fund. Stockholder
participation was not mandatory as stockholders can continue to purchase
and sell Fund shares in cash transactions on the New York Stock Exchange.
The Offer was not extended to (nor were tenders be accepted from or on
behalf of) holders of Fund shares in any jurisdiction in which the offering
of the Offer or its acceptance would not be in compliance with the laws of
such jurisdiction. To the extent that the securities laws of any
jurisdiction required the Offer to be made by a licensed broker or dealer,
the Offer shall be deemed to have been made on the Fund's behalf by one or
more registered brokers or dealers licensed under the laws of such
jurisdiction.
For further information, contact the Fund's Investor Relations office at
011-52-55-5282-8900, or by e-mail at investor-relations@themexicofund.com.
Stockholders may also contact Georgeson Inc., the Information Agent for the
Offer, at (888) 877-5373.
www.themexicofund.com
The Mexico Fund, Inc. is a non-diversified closed-end management investment
company with the investment objective of long-term capital appreciation
through investments in securities, primarily equity, listed on the Mexican
Stock Exchange. The Fund provides a vehicle to investors who wish to
invest in Mexican companies through a managed non-diversified portfolio as
part of their overall investment program.
This press release may contain certain forward-looking statements regarding
future circumstances. These forward-looking statements are based upon the
Fund's current expectations and assumptions and are subject to various
risks and uncertainties that could cause actual results to differ
materially from those contemplated in such forward-looking statements
including, in particular, the risks and uncertainties described in the
Fund's filings with the SEC. Actual results, events, and performance may
differ. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof. The
Fund undertakes no obligation to release publicly any revisions to these
forward looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this release does
not constitute an admission by The Mexico Fund or any other person that the
events or circumstances described in such statement are material.
CONTACT:
Eduardo Solano
Investor Relations
Vice President
The Mexico Fund, Inc.
011-52-55-5282-8900
CONTACT:
Patricia Baronowski
The Altman Group
212-400-2604
