PHILADELPHIA, Oct. 26 /PRNewswire-FirstCall/ -- The Emerging Markets Telecommunications Fund, Inc. (the "Fund") (NYSE Amex: ETF), a closed-end equity fund, announced today that the Board of Directors has approved the reinitiation of its share repurchase program. The reinitiated program authorizes management to make open market purchases from time to time in an amount up to 10% of the Fund''s outstanding shares. Such purchases may be made when the Fund''s shares are trading at a discount to net asset value of 12% or more. Open market purchases may also be made at the discretion of management if the discount to net asset value is less than 12%. The authority under the program will be effective beginning November 1, 2009.
The Board originally authorized the share repurchase program on November 21, 2003. The original program authorized management to purchase up to 10% of the Fund''s then outstanding shares. As of October 31, 2008 the repurchase of this original amount had been completed. The Board authorized the reinitiation of the share repurchase program for an additional amount of up to 10% of the Fund''s outstanding shares in order to potentially enhance share liquidity and increase shareholder value through the potential accretive impact of the purchases to the Fund''s net asset value. There is no assurance that the Fund will purchase shares in any specific amounts.
Important Information
Aberdeen Asset Management Inc. has prepared this statement based on information sources believed to be accurate and reliable. However, neither the Fund, Aberdeen Asset Management Investment Services Limited (the Investment Adviser), nor any other person guarantees their accuracy. Investors should seek their own professional advice and should consider the investment objectives, risks, charges and expenses before acting on this information. Aberdeen is a U.S. registered service mark of Aberdeen Asset Management PLC.
If you wish to receive this information electronically, please contact: InvestorRelations@aberdeen-asset.com
The Emerging Markets Telecommunications Fund, Inc.
CONTACT: Aberdeen Asset Management Inc., Investor Relations,
+1-866-839-5205, InvestorRelations@aberdeen-asset.com
