<DOCUMENT>
<TYPE>EX-99.77D POLICIES
<SEQUENCE>4
<FILENAME>policy.txt
<TEXT>
A new Securities and Exchange Commission rule requires funds to
invest at least 80% of their net assets (plus any borrowings for
investment purposes) in the type of securities suggested by
their name.  The new rule applies to The Chile Fund, Inc.
(the "Fund").  Accordingly, at a meeting held on February 13,
2002, the Board of Directors adopted a new investment policy
for the Fund.  The Fund will invest at least 80% of its net
assets (plus any borrowings for investment purposes) in
Chilean securities.  The new policy will not result in any
change to the way the Fund is currently managed.  If the
Board of Directors elects to change this 80% policy, the
Fund will provide shareholders with at least 60 days advance
notice.  As of June 30, 2002, 98.53% of the Fund's net assets
were invested in Chilean securities.


</TEXT>
</DOCUMENT>
