Asia Market Performance

July 2008

(in US$)

Market	Index	Index Level	July 2008	YTD	2007
Asia Region	MSCI AC Far East ex Japan (1)	759.98	-1.53%	-19.45%	36.92%
Asia Region	MSCI AC Asia ex Japan (2)	803.57	-0.80%	-21.73%	40.52%
Asia Region	MSCI AC Asia Pacific (3)	177.88	-2.99%	-14.80%	14.64%
Asia Region	MSCI/Matthews Asian Technology (4)	52.31	-4.26%	-15.05%	11.02%
China	MSCI China (5)	89.42	2.30%	-24.63%	66.23%
China	Shanghai B Share (6)	210.04	0.45%	-41.97%	183.07%
China	Shenzhen B Share (7)	454.41	-3.46%	-34.18%	65.72%
Hong Kong	Hang Seng Index (8)	22,731.10	2.80%	-16.73%	42.86%
India	Bombay Stock Exchange 100 (9)	7,488.48	8.31%	-37.21%	81.41%
Indonesia	Jakarta (10)	2,304.51	0.27%	-11.41%	50.01%
International	EAFE (11)	5,542.11	-3.20%	-13.44%	11.63%
Japan	TOPIX (12)	1,303.62	-2.88%	-6.84%	-6.32%
Japan	MSCI Japan (13)	4,856.32	-3.41%	-8.69%	-4.14%
Korea	KOSPI (14)	1,594.67	-1.47%	-22.28%	31.79%
Malaysia	Kuala Lumpur (15)	1,163.09	-1.19%	-16.18%	46.96%
Philippines	PSE (16)	2,577.10	6.47%	-31.80%	46.96%
Singapore	Straits Times (17)	2,929.65	-0.82%	-9.26%	29.00%
Taiwan	TWSE (18)	7,024.06	-4.91%	-9.66%	12.97%
Thailand	SET (19)	676.32	-12.27%	-27.67%	40.57%

Source: Bloomberg

It is not possible to invest directly in an index.

The above performance is based on data available at the time of compilation, and therefore actual performance is subject to change.

(1) A free float-adjusted, capitalization-weighted index of the stock markets of China, Hong Kong, Indonesia, Korea, Malaysia, Philippines, Singapore, Taiwan and Thailand.

(2) A free float-adjusted, capitalization-weighted index measuring the performance of all stock markets included in the MSCI AC Far East ex Japan Index (above), along with India and Pakistan.

(3) A free float-adjusted, capitalization-weighted index measuring the performance of all stock markets included in the MSCI AC Asia ex Japan Index (above), along with Japan, Australia and New Zealand.

(4) The MSCI/Matthews Asian Technology Index is a free float-adjusted market capitalization index of Asian equities tracking a broad range of technology stocks including semiconductor equipment and products, communications equipment, computers and peripherals, electronic equipment and instruments, office electronics, software, IT consulting and services, diversified telecommunications services, and wireless communications services. The MSCI/Matthews Asian Technology Index is the exclusive property of Morgan Stanley Capital International Inc. ("MSCI"). Morgan Stanley Capital International is a service mark of MSCI and has been licensed for use by Matthews International Capital Management. MSCI does not sponsor the Fund, nor is it affiliated in any way with Matthews International Capital Management. The Fund is not sponsored, endorsed, sold, or promoted by MSCI and MSCI does not make any representation or warranty, express or implied, regarding the advisability of investing in the Fund. In no event shall MSCI or any other party have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

(5) The MSCI China Index is a free float-adjusted market capitalization-weighted index of Chinese equities that includes Red Chips and H shares listed on the Hong Kong exchange, and B shares listed on the Shanghai and Shenzhen exchanges.

(6) The Shanghai B Share Stock Price Index is a capitalization-weighted index of stocks listed on the Shanghai Stock Exchange available to Chinese and foreign investors.

(7) The Shenzhen B Share Stock Price Index is an index of Mainland Chinese stocks listed on the Shenzhen Stock Exchange available to Chinese and foreign investors.

(8) The Hang Seng Index is capitalization-weighted index of Hong Kong companies that represent the majority of total market capitalization of the Hong Kong Stock Exchange.

(9) The Bombay Stock Exchange 100 is a free float-adjusted market capitalization-weighted index of 100 stocks listed at the Bombay Stock Exchange.

(10) The Jakarta Stock Price Index is modified capitalization-weighted index of all stocks listed on the regular board of the Jakarta Stock Exchange.

(11) A recognized benchmark used to measure international equity performance. It is comprised of 21 MSCI country indices, representing the developed markets outside of North America.

(12) The Tokyo Stock Price Index (TOPIX) is a capitalization-weighted index of all companies listed on the First Section of the Tokyo Stock Exchange.

(13) The MSCI Japan Index is a free float-adjusted market capitalization-weighted index of Japanese equities listed in Japan.

(14) The Korea Composite Stock Price Index is a capitalization-weighted index of all common stocks listed on the Korea Stock Exchange.

(15) The Kuala Lumpur Stock Exchange Composite Index is a broad-based capitalization-weighted index of Malaysian stocks designed to measure the performance of the Kuala Lumpur Stock Exchange.

(16) The PSE Composite Index is a capitalization-weighted index of Philippine stocks that represent the majority of the total market capitalization of the Philippine stock market.

(17) The Straits Times Index is a modified market capitalization-weighted index comprised of the most heavily weighted and active stocks traded on the Singapore Stock Exchange that is compiled by the Straits Times Newspaper of Singapore.

(18) The TWSE Index is a capitalization-weighted index of all listed common shares traded on the Taiwan Stock Exchange.

(19) The Stock Exchange of Thailand Index is a capitalization-weighted index of all the stocks traded on the Thailand Stock Exchange.