WASHINGTON, DC--(Marketwire - January 19, 2011) - The Mexico Fund, Inc. (NYSE: MXF) announced that it will pay today a distribution of $0.6620 per share in cash to stockholders of record as of December 20, 2010, consisting of (1) a distribution of $0.6300 per share pursuant to its Managed Distribution Plan (MDP) and (2) an additional distribution of $0.0320 per share paid by the Fund to meet applicable tax requirements under the U.S. Internal Revenue Code. This combined distribution is the final distribution corresponding to the fiscal year 2010. Distributions corresponding to the fiscal year 2010 totaled $2.552 per share, the equivalent of 10.06% and 11.64% of the Fund's NAV and market price per share, respectively, as of the end of calendar 2009.

As a general matter, the amount of distributable income for each fiscal period depends on the aggregate gains and losses realized by the Fund during the entire year. Distributions may consist of net investment income, capital gains and return of capital, but the character of these distributions cannot be determined until after the end of the Fund's current fiscal year. On January 12, 2011, the Fund issued a press release announcing the final composition of distributions corresponding to the fiscal year 2010.

Under the Investment Company Act of 1940, the Fund is required to indicate the source of each distribution to stockholders. The following table sets forth (A) the source of the combined distribution (including the portion of the distribution paid pursuant to the MDP and the additional distribution) and (B) an estimate of the source of distributions for the current fiscal period:

Distribution Estimates   January 2011   Fiscal Year-to-date (YTD)1

Per Share
  Percent of
Per Share
  Percent of
Fiscal Year
Net Investment Income   $0.1016   15.35%   $0.1016   15.35%
Net Realized Short-Term
Capital Gains
  $0.3784   57.16%   $0.3784   57.16%
Net Realized Long-Term
Capital Gains
  $0.1820   27.49%   $0.1820   27.49%
Return of Capital (or
other Capital Source)
  -   -   -   -
Total Distribution   $0.6620   100.00%   $0.6620   100.00%

Information regarding the Fund's performance and distribution rates is set forth below:

Average Annual Total Return for the 5-year period ended on December 31, 20102
Annualized Distribution Rate (current fiscal year)3 -
Current Fiscal Year Cumulative Total Return4 9.69%
Cumulative Distribution Rate (current fiscal year)5 -

1 The Fund's current fiscal year began on November 1, 2010.

2 Average Annual Total Return represents the simple arithmetic average of the Annual NAV Total Returns of the Fund for the last five years. Annual NAV Total Return is the percentage change in the Fund's NAV over a year including distributions paid and assuming reinvestment of those distributions.

3 The Current Annualized Distribution Rate is the Cumulative Distribution Rate as of December 31, 2010, annualized as a percentage of the Fund's NAV at the same date. This rate is zero because no distribution was paid between the beginning of the current fiscal year, November 1, 2010, and December 31, 2010.

4 Fiscal Year Cumulative Total Return is the percentage change in the Fund's NAV from November 1, 2010 through December 31, 2010, including distributions paid and assuming reinvestment of those distributions.

5 Cumulative Distribution Rate for the Fund's current fiscal period (November 1, 2010 through December 31, 2010) measured on the dollar value of distributions in the period as a percentage of the Fund's NAV as of December 31, 2010. This rate is zero because no distribution was paid between the beginning of the current fiscal year, November 1, 2010, and December 31, 2010.

You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's MDP.

The amounts and sources of distributions reported above are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund's investment experience during the remainder of the calendar year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report the distribution for federal income tax purposes.

Continuation of MDP and Distribution Schedule for Fiscal 2011

The Board has ratified the continuation of the Fund's MDP during fiscal 2011 at the annual rate of 10% of the Fund's net asset value per share ("NAV") recorded on the last business day of the previous calendar year, subject to the Board's ability to amend or terminate the MDP at any time without prior notice to stockholders. At this time, there are no reasonably foreseeable circumstances that might cause the termination of the MDP. On December 31, 2010, the Fund's NAV per share was $31.68. At an annual rate of 10%, it is the Board's intention that the Fund make quarterly distributions in the amount of $0.792 per share, which would total $3.168 per share during the fiscal year 2011. Distributions during fiscal 2011 are expected to be paid in cash during April, July and October 2011 and January 2012.

For further information, contact the Fund's Investor Relations office at 011-52-55-5282-8900, or by email at investor-relations@themexicofund.com


The Mexico Fund, Inc. is a non-diversified closed-end management investment company with the investment objective of long-term capital appreciation through investments in securities, primarily equity, listed on the Mexican Stock Exchange. The Fund provides a vehicle to investors who wish to invest in Mexican companies through a managed non-diversified portfolio as part of their overall investment program.

This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Fund's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Fund's filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Fund undertakes no obligation to release publicly any revisions to these forward looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by The Mexico Fund or any other person that the events or circumstances described in such statement are material.

Contact Information:

Eduardo Solano
The Mexico Fund, Inc.

Patricia Baronowski
Pristine Advisers, LLC
(631) 756-2486