Dividend Declaration

Legal Entity Identifier: 2138009DIENFWKC3PW84

19 November 2019

Gulf Investment Fund PLC ("GIF" or the "Company")

Dividend

At the Annual General Meeting on 8 November 2019, GIF shareholders approved a final dividend of 3.0 cents per ordinary share in respect of the year ended 30 June 2019.

The dividend will be paid on 10 January 2020 to ordinary shareholders on the register as at 29 November 2019 (the "Record Date"). The corresponding ex-dividend date will be 28 November 2019 and the last date for receipt of currency elections will be 5 p.m. on 13 December 2019.

For further information:

Gulf Investment Fund Plc +44 (0) 1624 622851Nick Wilson

Maitland +44 (0) 20 7379 5151

William Clutterbuck / Finlay Donaldson

Panmure Gordon +44 (0) 20 7886 2500

Alex Collins / Atholl Tweedie

Mainstream Fund Services (IOM) Limited +44 (0) 1624 692 600

Ian Dungate