The Greater China Fund, Inc. (NYSE: GCH) Announces Election of Two Class III Directors and Termination of the Investment Manager

NEW YORK, NY--(Marketwire - Jun 29, 2012) - The Greater China Fund, Inc. (NYSE: GCH) (the "Fund") announced today the results of its 2012 Annual Meeting of Stockholders. At the meeting, stockholders elected John A. Hawkins and Tak Lung Tsim, each as a Class III director for a term of three years. 

Stockholders also voted on a proposal by City of London Management Company to terminate the Fund's Investment Advisory Agreement with Baring Asset Management (Asia) Ltd. ("Baring"), the Fund's Investment Manager. The proposal received the favorable vote of a majority of the Fund's outstanding shares and therefore was approved. As a result, the Fund's agreement with Baring will terminate in 60 days. The Fund's Board of Directors will meet in due course to consider an appropriate course of action.

For more information on the Fund, including the most recent month-end performance, visit www.greaterchinafund.com or call 1-877-FUND-GCH (1-877-386-3424).

The Fund is a non-diversified, closed-end management investment company that seeks long-term capital appreciation through investing primarily in listed securities of China companies. The Fund's interim investment adviser is Baring Asset Management (Asia) Limited.