abrdn Asian Income Fund Limited (the "Company")

Legal Entity Identifier (LEI):  549300U76MLZF5F8MN87

4 March 2024

New Management Fee and Reinvestment of Fees by the Manager

The Company's Board of Directors is delighted to announce a successful negotiation resulting in a reduction of the management fee the Company pays to abrdn, effective from the beginning of the current financial year starting January 1, 2024. The new fee structure will be determined by the lower of the Company's market capitalisation or net asset value, a change aimed at better aligning the fee with shareholders' interests. The fee will be calculated monthly at a rate of 0.75% per annum on market capitalisation (or net assets, whichever is lower) up to £300 million, and 0.60% for amounts exceeding this threshold. This adjustment is anticipated to decrease the Company's overall ongoing charges for the financial year ending December 31, 2024, by approximately 17% compared to the previous year. Detailed information regarding the Company's ongoing charges for the year ending December 31, 2023, will be provided with the announcement of the Company's financial results expected by the end of March.

Furthermore, we are pleased to announce that abrdn has initiated its reinvestment of management fees program by subscribing to 190,000 shares of the Company as of today's date, equivalent to approximately three months' worth of management fees.

Ian Cadby, Chairman, commented:

"Amid these challenging times for the investment company industry, we find it gratifying to report a meaningful reduction in overall costs for our shareholders in the upcoming year. We also commend our manager for demonstrating its support for the Company through the reinvestment of management fees program, reaffirming its commitment to reinvest a portion of the fees back into the Company."

abrdn Investments Limited

Administrator