The Greater China Fund, Inc. Reports Earnings and Holdings

NEW YORK, NY (NYSE: GCH), a closed-end, non-diversified management investment company seeking long-term capital appreciation, today announced its investment results for the fourth quarter and fiscal year ended December 31, 2007.

                                                 At December 31,
                                                 ---------------
                                           2007                   2006
                                           ----                   ----
Net Assets                             $486,482,857           $411,539,295
Shares Outstanding                      16,828,042             16,795,188
Net Asset Value ("NAV")                   $28.91                 $24.50
Market Price                              $24.81                 $31.48
Discount to NAV                          (14.18)%                28.49%


                                           Quarter Ended December 31,
                                           --------------------------
                                           2007                   2006
                                           ----                   ----
Net Investment Loss                     ($418,773)             ($564,883)
Per Share                                 ($0.02)                ($0.03)
Net Realized and Unrealized Gain      ($69,887,253)           $112,131,450
Per Share                                 ($4.15)                 $6.68
Dividends Paid from Net Investment
 Income                                      $0               ($7,609,899)
Per Share                                  $0.00                 ($0.45)
Distributions Paid from Net Realized
 Gains                                ($190,156,878)         ($36,944,376)
Per Share                                ($11.30)                ($2.20)


                                          Fiscal Year Ended December 31,
                                          ------------------------------
                                           2007                   2006
                                           ----                   ----
Net Investment Income                     $53,984              $2,166,317
Per Share                                  $0.00                  $0.13
Net Realized and Unrealized Gain       $295,035,936          $203,268,047
Per Share                                 $17.55                 $12.09
Dividends Paid from Net Investment
 Income                                 ($466,137)           ($7,609,899)
Per Share                                 ($0.03)               ($0.45)
Distributions Paid from Net Realized
 Gains                                ($220,662,753)        ($36,944,376)
Per Share                                ($13.11)               ($2.20)



  Allocation of Net Assets            Top Ten Equity Holdings
  ------------------------            -----------------------
Equities:                         Representing 33.3% of net assets
  China                76.8%    - Hong Kong Exchanges & Clearing Ltd.
  Hong Kong            17.3%    - China Mobile (Hong Kong) Ltd.
  Taiwan                2.8%    - China Overseas Land & Investment Ltd.
                     ---------  - Industrial & Commercial Bank of China
                       96.9%      Ltd. "H"
Convertible Bond        0.8%    - Guangzhou R&F Properties Co. Ltd. "H"
Short-Term Investment  40.4%    - China Shenhua Energy Co. Ltd. "H"
Investments of Cash             - Ports Design Ltd.
 Collateral from                - Zijin Mining Group Co. Ltd. "H"
 Securities Loaned      7.7%    - China Merchants Bank Co. Ltd. "H"
                     ---------  - China Oilfield Services Ltd. "H"
                       145.8%
Liabilities, in
 excess of cash and
 other assets         (45.8)%
                     ---------
Net Assets            100.0%
                     =========

The Fund's investment manager is Baring Asset Management (Asia) Limited.

Contact: Lana Lomuti Prudential Investments LLC (973) 367-7481

Aberdeen Greater China Fund, (NYSE:GCH)
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