Treasury Share Cancellation

Legal Entity Identifier: 2138009DIENFWKC3PW84

20 April 2018

GULF INVESTMENT FUND PLC

TREASURY SHARES - CANCELLATION

Gulf Investment Fund plc (the "Company") announces that 14,693 shares purchased on 23 March 2017 have been cancelled in accordance with the Company's treasury share policy published on 15 August 2010. Following the cancellation, the Company now holds 16,424 shares in treasury.

The Company's issued share capital comprises 92,461,242 ordinary shares with voting rights with a further 16,424 shares held in treasury.

In accordance with the Disclosure and Transparency Rule 5.6.1, the Company's total number of shares with voting rights therefore remains unchanged at 92,461,242.

For further information please contact

Ian Dungate/Suzanne Jones + 44 (0) 1624 692600

Galileo Fund Services Limited

Andrew Potts +44 (0) 20 7886 2500

Panmure Gordon

William Clutterbuck/Robbie Hynes +44 (0) 20 7379 5151

Maitland