The Greater China Fund, Inc. (NYSE: GCH) Announces Postponement of Special Meeting to Approve Aberdeen Asset Management as Investment Manager and New Independent Directors

NEW YORK, NY--(Marketwire - Oct 26, 2012) - The Greater China Fund, Inc. (NYSE: GCH) (the "Fund") announced today that the Fund's Board of Directors has determined to postpone the special meeting of stockholders scheduled to be held on November 1, 2012. Although the Board of Directors is unanimous in its support for Aberdeen Asset Management Asia Limited ("Aberdeen"), the Fund's Board and Aberdeen believe additional time is needed to obtain stockholder support for Aberdeen as the Fund's investment manager. The Board and Aberdeen continue to engage in a dialogue with stockholders regarding this matter. The Fund will notify shareholders when a new date is determined for the special meeting of stockholders.

The Fund also announced that the Fund's Nominating and Governance Committee recommended to the Board, and the Board unanimously approved, the appointment of two new independent directors, Gregory Hazlett and Moritz Sell, to the Fund's Board of Directors. The Board believes this action evidences its continuing commitment to be responsive to shareholders. Both Mr. Hazlett and Mr. Sell have many years of experience with closed-end funds and investment management and currently serve on the board of directors of other New York Stock Exchange listed closed-end funds.

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).