Lim Asia Arbitrage - Appointment of Director

RNS Number:8215L
Lim Asia Arbitrage Fund Inc.
15 January 2008

Stock Exchange Announcement

For immediate release
15 January,2008

LIM Asia Arbitrage Fund Inc (the "Fund")

Re: Appointment of Director

The Board of Directors of the Fund (the "Board") would like to announce that Mr
Bernard Candler ''Ben'' Grigsby has been appointed as a director of the Fund
with effect from 8th January 2008.

From 2001 through 2005 Mr Grigsby held the following positions with Swiss
Re, London:

Chief Executive Officer of Swiss Re Financial Products/ Capital Management
& Advisory, May 2001 - January 2004; Vice Chairman, January 2004 - May 2005;

Non-Executive Director and Senior Advisor, 11 May 2005 to 31 December
2005.

Chairman of Swiss Re Capital Markets Ltd (UK FSA-regulated securities
firm), Swiss Re Capital Markets Corp (USA NASD-registered broker/dealer), Swiss
Re Financial Products Corp (USA), Swiss Re Capital Markets (Japan) Corp (JFSA
regulated securities branch), and Fox-Pitt Kelton Inc (NASD regulated securities
company). Vice Chairman of Fox-Pitt, Kelton Ltd (FSA regulated securities firm).

Since his retirement from Swiss Re on the 31st December 2005, Mr Grigsby has
maintained a private advisory and consulting practice.

ADDITIONAL PROFESSIONAL DETAILS

Tudor Investment Corporation, Oct 2006 to date

The Tudor BVI Global Fund Ltd.

The Raptor Global Fund Ltd.

Independent Non-Executive Director of the above Cayman-based Tudor investment
funds.

Vietnam Opportunity Fund Limited, Oct 2006 to date

Independent Non-Executive Director.

London-AIM listed ('VOF') investment company specializing in Vietnamese
investments.

JPMorgan Fleming Japan Smaller Companies Investment Trust plc, Aug 2003 to date

Independent Non-Executive Director.

London-LSE listed ('JPS') investment company specializing in smaller Japanese
companies.

Corney & Barrow Group Ltd, Apr 2000 to date

Independent Non-Executive Director.

Privately held independent wine merchant and wine-bar/restaurant company.

Jardine Fleming Japan OTC Fund Inc, Dec 1997 - Feb 2003

Independent Non-Executive Director.

Hong Kong listed ('881'), Cayman-based JPMorgan Flemings investment trust
company specializing in Japanese OTC companies. Company voluntarily wound-up in
2003 to return capital to shareholders.

Mr Grigsby, (the "Director") has no unspent convictions, has never been declared
bankrupt, nor has he been the subject of an individual voluntary arrangement or
a receivership of any assets held by him. The Director was not a director with
an executive function of any company at the time of or within the 12 months
preceding its bankruptcy, receivership, administration, liquidation, company
voluntary arrangement or composition or arrangement with its creditors
generally. There have been no public criticisms of the Director by any
statutory or regulatory authority nor has the Director ever been disqualified by
a court from acting as a director of a company or from acting in the management
or conduct of the affairs of any company. The Director has not been a partner
of any partnership at the time or within 12 months preceding its compulsory
liquidation, administration or partnership voluntary arrangement. The Director
has not had a receiver appointed over any of his assets or of any of the assets
of a partnership of which he was a partner within 12 months after he ceased to
be a partner of that partnership.

A memorandum detailing the names of all companies and partnerships of which the
Director has been a director or partner in the past five years, together with an
indication of whether or not he is still a director or partner, is available for
inspection at the Offices of Goodbody Stockbrokers, Ballsbridge Park,
Ballsbridge, Dublin 4.

Enquiries:

Goodbody Stockbrokers
Therese Redmond

+353 1 641 9132

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange

This information is provided by RNS
The company news service from the London Stock Exchange
END

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