Hamilton, Bermuda, 14th October 1998 - The Bermuda Stock Exchange (BSX) was today informed that following a Special General Meeting of the Shareholders of The China Heartland Fund Limited (The "Company"), Wednesday 7th October, 1998 at 11.00am, the Shareholders considered and voted to approve the following recommendations of the Board of Directors:
1) That the Company remain as a closed-ended fund.
2) That the authorised share capital of the Company be increased from US$70,000 to US$120,00 by the creation of 5,000,000 unclassified shares of US$0.01 each.
3) To amend Heartland Investment Consulting Co. (Shanghai) Ltd.'s existing share incentive fee arrangement.
4) To amend the Company's memorandum of association.
5) To authorise the Company to purchase its own Shares pursuant to Section 156C of the Companies Act 1981.
Subsequent to the Meeting, the Listing Committee of the BSX did, on Tuesday, 13th October 1998, approve the listing of the additional shares created.