WASHINGTON, DC--(Marketwire - March 10, 2011) -  The Mexico Fund, Inc. (NYSE: MXF) announced today that the Board of Directors declared a distribution of $0.7920 per share to stockholders of record on April 5, 2011, which is payable in cash on April 19, 2011. This distribution is the first corresponding to the fiscal year 2011. The quarterly cash distributions for fiscal 2011, which are anticipated to be paid at an annual rate of 10% of the Fund's NAV per share as of December 31, 2010, are expected to be 25.7% higher than the distributions for fiscal 2010.

Under the Fund's Managed Distribution Plan (MDP), the Fund pays quarterly distributions at an annual rate of 10% of the Fund's net asset value (NAV) per share recorded on the last business day of the previous calendar year. The Board ratified the continuation of the Fund's MDP for fiscal 2011 under the same terms as the prior year. The remaining three distributions corresponding to the fiscal year 2011 are expected to be made during July and October 2011 and January 2012. 

The Board may amend or terminate the MDP at any time without prior notice to stockholders; however, at this time, there are no reasonably foreseeable circumstances that might cause the termination of the MDP.

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 fiscal year.

However, 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) an estimate of the source of the combined January 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 year:

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


Per Share
Percent of

Per Share
Percent of
Fiscal Year
Net Investment Income - - - -
Net Realized Short-Term Capital Gains - - - -
Net Realized Long-Term Capital Gains $0.7920 100.00% $0.7920 100.00%
Return of Capital (or other Capital Source) - - - -
Total Distribution $0.7920 100.00% $$0.7920 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 February 28,20112 24.94%
Annualized Distribution Rate (current fiscal year)3 6.52%
Current Fiscal Year Cumulative Total Return4 6.89%
Cumulative Distribution Rate (current fiscal year)5 2.14%

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 February 28, 2011 annualized as a percentage of the Fund's NAV at the same date.

4 Fiscal Year Cumulative Total Return is the percentage change in the Fund's NAV from November 1, 2010 through February 28, 2011, including distributions paid and assuming reinvestment of those distributions.

5 Cumulative Distribution Rate for the Fund's current fiscal period (November 1, 2010 through February 28, 2011) measured on the dollar value of distributions in the period as a percentage of the Fund's NAV as of February 28, 2011.

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.

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