PHILADELPHIA, July 1 /PRNewswire-FirstCall/ -- The Emerging Markets Telecommunications Fund, Inc. (NYSE Amex: ETF) (the "Fund") announced today that it had entered into a new Advisory Agreement with Aberdeen Asset Management Investment Services Limited ("AAMISL") effective as of July 1, 2009. The Fund's existing Advisory Agreement with Credit Suisse Asset Management, LLC ("CSAM"), and the existing Sub-Advisory Agreement among the Fund, CSAM and Credit Suisse Asset Management Limited (U.K.) ("CSAM UK") each terminated on July 1, 2009. After extensive deliberations over several months, on March 18, 2009, the Board of Directors of the Fund, which is comprised entirely of independent directors, unanimously approved the new Advisory Agreement with AAMISL. Shareholders subsequently approved the new Advisory Agreement on May 8, 2009. As previously announced, on December 31, 2008, Aberdeen Asset Management PLC, the corporate parent of AAMISL, signed an agreement to purchase parts of the Global Investors traditional asset management business of Credit Suisse, the corporate parent of CSAM. The closing of this transaction with respect to CSAM and CSAM UK occurred June 30, 2009. Aberdeen PLC is the parent company of an asset management group managing assets for both institutional and retail clients from offices around the world. Aberdeen PLC manages assets totalling $219 billion as of May 31, 2009, following completion of the acquisition. Aberdeen has been managing U.S. registered closed-end funds since December of 2000 and with the closing of the Credit Suisse transaction now manages or serves as the sub-adviser to the following funds aggregating $3.4 billion total net assets as of July 1, 2009: -- Aberdeen Asia-Pacific Income Fund, Inc. ("FAX") -- Aberdeen Australia Equity Fund, Inc. ("IAF") -- Aberdeen Global Income Fund, Inc. ("FCO") -- First Trust/ Aberdeen Global Opportunity Income Fund, Inc. ("FAM") -- First Trust/Aberdeen Emerging Opportunity Fund, Inc. ("FEO") -- The Indonesia Fund, Inc. ("IF") -- The Chile Fund, Inc. ("CH") -- The Emerging Markets Telecommunications Fund, Inc. ("ETF") -- The First Israel Fund, Inc. ("ISL") -- The Latin America Equity Fund, Inc. ("LAQ") Cautionary statement regarding forward-looking information. Statements made in this release that look forward in time involve risks and uncertainties and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in a Fund's performance, a general downturn in the economy, competition from other closed-end investment companies, changes in government policy or regulation, inability of a Fund's investment adviser to attract or retain key employees, inability of a Fund to implement its investment strategy, inability of a Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of government and self-regulatory organizations. If you wish to receive this information electronically, please contact DATASOURCE: The Emerging Markets Telecommunications Fund, Inc. CONTACT: Media Relations, +1-866-839-5205, Web Site: http://www.aberdeen-asset.com/

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