<SEC-DOCUMENT>0001104659-09-040334.txt : 20110425
<SEC-HEADER>0001104659-09-040334.hdr.sgml : 20110425
<ACCEPTANCE-DATETIME>20090626133904
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001104659-09-040334
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20090626

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MORGAN STANLEY INDIA INVESTMENT FUND, INC.
		CENTRAL INDEX KEY:			0000916618
		IRS NUMBER:				132838811
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		522 FIFTH AVENUE
		STREET 2:		19TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		800 869-6397

	MAIL ADDRESS:	
		STREET 1:		522 FIFTH AVENUE
		STREET 2:		19TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MORGAN STANLEY DEAN WITTER INDIA INVESTMENT
		DATE OF NAME CHANGE:	20000504

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MORGAN STANLEY INDIA INVESTMENT FUND INC
		DATE OF NAME CHANGE:	19940127

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INDIA INVESTMENT FUND INC
		DATE OF NAME CHANGE:	19931228
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>

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<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Morgan Stanley India Investment Fund,&nbsp;Inc.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">522 Fifth Avenue</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">New
York, NY 10036</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">June&nbsp;26, 2009</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">VIA EDGAR</font></u></b></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Securities and Exchange
Commission</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Judiciary Plaza</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">100 F Street, NE</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington, D.C.&#160; 20549</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
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  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.16%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Attention:</font></p>
  </td>
  <td width="89%" valign="bottom" style="padding:0in 0in 0in 0in;width:89.84%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Larry L. Greene, Division of Investment Management</font></p>
  </td>
 </tr>
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  <td width="10%" valign="top" style="padding:0in 0in 0in 0in;width:10.16%;">
  <p style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="89%" valign="bottom" style="padding:0in 0in 0in 0in;width:89.84%;">
  <p style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mail Stop 0505</font></p>
  </td>
 </tr>
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<p style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.92%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Re:</font></p>
  </td>
  <td width="93%" valign="bottom" style="padding:0in 0in 0in 0in;width:93.08%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Morgan Stanley India Investment Fund,&nbsp;Inc.</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign="top" style="padding:0in 0in 0in 0in;width:6.92%;">
  <p style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="93%" valign="bottom" style="padding:0in 0in 0in 0in;width:93.08%;">
  <p style="margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">File Numbers
  811-08238&nbsp;&amp; 333-159091</font></b></p>
  </td>
 </tr>
</table>

<p style="margin:0in 0in .0001pt .5in;text-align:left;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear Mr.&nbsp;Greene:</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Thank you for your comments
regarding the registration statement on Form&nbsp;N-2 for Morgan Stanley India
Investment Fund,&nbsp;Inc. (the &#147;Fund&#148;), filed with the Securities and Exchange
Commission on May&nbsp;8, 2009, as amended on May&nbsp;11, 2009.&#160; Below, we describe the changes made to the
registration statement in response to the Staff&#146;s comments and provide any
responses to or any supplemental explanations of such comments, as
requested.&#160; These changes will be
reflected in Pre-Effective Amendment No.&nbsp;2 to the registration statement,
which will be filed via EDGAR on or about June&nbsp;26, 2009.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;text-decoration:underline;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">General</font></u></b></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Comment
1.</font></b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Please
see the U.S. Securities and Exchange Commission, A Plain English Handbook
(1998).&#160; Please review and revise the
disclosure where it appears necessary so as to assure conformity with the
Commission&#146;s plain English requirements.&#160;
For example, reformat the disclosures appearing in all capital letters
under the sub-caption &#147;Other Taxation.&#148;&#160;
Please use a different means to make the disclosure prominent.</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><u><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Response 1.</font></u><font size="2" color="black" style="color:windowtext;font-size:10.0pt;">&#160; The disclosure has been revised accordingly.</font></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Comment
2.</font></b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">We
remind the registrant of its obligation to file electronic reports with respect
to its fidelity bond coverage under Rule&nbsp;17g-1(g)&nbsp;under the 1940 Act.</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><u><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Response 2.</font></u><font size="2" color="black" style="color:windowtext;font-size:10.0pt;">&#160; The Fund acknowledges its responsibility to
file electronic reports with respect to its fidelity bond coverage under Rule&nbsp;17g-1(g)&nbsp;under
the 1940 Act.</font></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Comment
3.</font></b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Indicate
to the staff whether the Fund has considered the factors and made the
determination required in Investment Company Act Release No.&nbsp;9932 (September&nbsp;15,
1977) with respect to the contemplated rights offering.&#160; In particular, your response should address
the matters discussed in Item 2(E) and</font></p>

<p style="margin:0in 0in .0001pt;text-align:justify;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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</div>
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<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">related footnote 13 of
that release reflecting the staff&#146;s view that there should be a specific
intended use for the offering proceeds and disclose it under the caption &#147;Use
of Proceeds.&#148;&#160; Further, to the extent
such offerings are made below net asset value, they should be used for
exceptional and not routine circumstances.</font></b></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><u><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Response 3.</font></u><font size="2" color="black" style="color:windowtext;font-size:10.0pt;">&#160; In deciding whether to make a rights
offering, the Fund&#146;s directors considered a variety of factors, including, but not
limited to, the use to be made of the proceeds from the offering and the return
to stockholders therefrom; the extent of any dilution for nonparticipating
stockholders; the terms of the proposed offering; the size of the offering in
relation to the number of shares outstanding; the effect of the offering on the
Fund&#146;s expense ratio; and the size of the current premium of price to net asset
value.&#160; The disclosure under the section
entitled &#147;Use of Proceeds&#148; has been revised to indicate that the net proceeds
of the rights offering will be invested in equity securities of Indian issuers
in accordance with the Fund&#146;s investment objective and policies.&#160; It is further noted that, pending the
investment of such proceeds, the proceeds may be invested in equity index
futures to gain exposure to equity securities of Indian issuers.</font></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Comment
4.</font></b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Clarify
whether, in connection with the offering, the Fund may issue shares or rights
for subscription for shares at less than net asset value.</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><u><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Response 4.</font></u><font size="2" color="black" style="color:windowtext;font-size:10.0pt;">&#160; The Fund will not issue shares or rights for
subscription for shares&#160; at less than net
asset value.&#160; The disclosure has been
clarified accordingly to state that the subscription price per share will be
95% of the average of the last reported sales price per share of the Fund&#146;s
common stock on the New York Stock Exchange on the date on which the offer
expires and the four preceding trading days, but in any case not less than the
net asset value per share of the Fund&#146;s Common Stock at the close of trading on
the New York Stock Exchange on the date on which the offer expires.</font></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Comment
5.</font></b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Confirm
to the staff that, to the extent applicable, disclosure in the current filing
will be conformed to disclosure adopted in connection with the staff&#146;s review
of the recent filing by Morgan Stanley China A Shares Fund,&nbsp;Inc.</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><u><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Response 5.</font></u><font size="2" color="black" style="color:windowtext;font-size:10.0pt;">&#160; We confirm that the disclosure, to the extent
applicable, has been conformed to disclosure adopted in connection with the
staff&#146;s review of the recent filing by Morgan Stanley China A Share Fund, Inc
(File No.&nbsp;333-158106).</font></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Comment
6.</font></b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Disclosure
sub-captioned &#147;Investment Advisory and Management Agreement; Sub-Advisory
Agreement&#148; suggests that the Fund may issue share certificates.&#160; Clarify whether the Fund will or will not do
so.</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><u><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Response 6.</font></u><font size="2" color="black" style="color:windowtext;font-size:10.0pt;">&#160; The Fund does not issue share certificates
and, as such, the disclosure has been revised accordingly.</font></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;text-decoration:underline;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Prospectus</font></u></b></h1>

<h1 style="font-weight:bold;margin:0in 0in .0001pt;page-break-after:auto;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Comment
7.</font></b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Disclosure
sub-captioned &#147;Purpose of the Offer&#148; indicates that the Board believes that
increasing the size of the Fund &#147;will increase the liquidity of the Fund&#146;s
shares of Common Stock . . .&#148;&#160; With
respect to this notion, advise the</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">staff whether lack of
liquidity of Fund shares has been an issue for investors.&#160; Disclose the potential effects of the rights
offering on current market price.</font></b></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><u><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Response 7.</font></u><font size="2" color="black" style="color:windowtext;font-size:10.0pt;">&#160; The referenced disclosure has been revised to
change &#147;will&#148; to &#147;may.&#148;&#160; While Management
of the Fund believes that liquidity of Fund shares has not been an issue for
investors in the past, the potential for an increase in liquidity of Fund
shares due to an increase in the Fund&#146;s shares outstanding may benefit
investors.&#160; At the time the rights
offering was announced the market price of Fund shares declined; however, since
the announcement, the market price of Fund&#146;s shares has continued to increase
and such, it is uncertain what potential effects the rights offering will have
on current market price.</font></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Comment
8.</font></b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Revise
the following sentence, which appears under &#147;Use of Proceeds,&#148; by adding the indicated
clause: &#147;The Fund may require up to&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; months due to the Fund&#146;s need
to invest substantially all of its assets in the securities of issuers
organized under the laws of a foreign jurisdiction, <u>i.e., India</u>.&#148;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><u><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Response 8.</font></u><font size="2" color="black" style="color:windowtext;font-size:10.0pt;">&#160; The disclosure has been revised accordingly.</font></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Comment
9.</font></b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">With
respect to the fee table, confirm that the Fund has no intention of leveraging
by the issuance of debt or preferred in the upcoming year, otherwise those
costs should be included in the table.</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><u><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Response 9.</font></u><font size="2" color="black" style="color:windowtext;font-size:10.0pt;">&#160; The Fund has no current intention of
leveraging by the issuance of debt or preferred issues in the upcoming year.</font></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Comment
10.</font></b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Disclosure
sub-captioned &#147;Risk Factors and Special Considerations &#151; Leverage Risk&#148;
indicates that the Fund may engage in leverage.&#160;
Describe more fully the types of leverage in which the Fund may engage.</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><u><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Response 10.</font></u><font size="2" color="black" style="color:windowtext;font-size:10.0pt;">&#160; As stated in Response 9 above, the Fund has
no current intention of leveraging by the issuance of debt or preferred issues
in the upcoming year; however, the Fund may engage in certain investment
techniques, including the use of derivatives, which may give rise to leverage
risk.&#160; A description of such transactions
is set forth in Appendix B to the prospectus.</font></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Comment
11.</font></b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Disclosure
appearing under the caption &#147;Investment Restrictions&#148; indicates that the Fund
may invest up to 10% of its assets in other investment companies.&#160; If the Fund may invest in unregistered funds,
such as hedge funds or funds that do not fall under the definition of investment
company by virtue of &#167;3(c)(1)&nbsp;or &#167;3(c)(7)&nbsp;of the 1940 Act, add
appropriate strategy and risk disclosure.</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><u><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Response 11.</font></u><font size="2" color="black" style="color:windowtext;font-size:10.0pt;">&#160; The disclosure has been revised to include a
discussion of the investment companies in which the Fund may invest.&#160; While the Fund may invest in certain unregistered
funds, </font><font size="2" color="black" style="color:windowtext;font-size:10.0pt;">we believe
that the current disclosure is adequate based on the types of unregistered
funds in which the Fund intends to invest.</font></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Comment
12.</font></b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Disclosure
appearing under the caption &#147;Management of the Fund - Investment Advisory and
Management Agreement; Sub-Advisory Agreement &#151; Portfolio Managers&#148; states that
the Fund&#146;s assets are managed by a team, and lists two</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div style="font-family:Times New Roman;">

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">managers on the team who
currently manage the Fund.&#160; Clarify
whether the team includes other managers who do not manage the Fund.&#160; Confirm that the Fund will notify investors
of any change in portfolio managers.&#160; See
Investment Company Act Rel. No.&nbsp;19382 (April&nbsp;6, 1993).</font></b></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><u><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Response 12.</font></u><font size="2" color="black" style="color:windowtext;font-size:10.0pt;">&#160; We respectfully acknowledge your comment;
however, we note that the Fund&#146;s prospectus currently states that the listed
managers are those who are primarily responsible for the day-to-day management
of the Fund.&#160; We would prefer not to list
other members of the team who do not manage the Fund because we believe that
this would confuse an investor when the prospectus currently states, as
required by Form&nbsp;N-2, the managers who are primarily responsible for the
day-to-day management of the Fund.</font></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Form&nbsp;N-2, Item 21.1 requires that disclosure with
respect a fund&#146;s portfolio manager or team of portfolio managers be provided as
of the most recent practicable date.&#160;
However, closed-end funds, unlike most open-end funds, do not continuously
offer their shares and, therefore, are not required to have a continuously
updated prospectus for purposes of the Securities Act of 1933.&#160; Accordingly, the Fund has complied with, and
intends to continue to comply with, its obligation to update information
regarding its portfolio managers as required by Rule&nbsp;8b-16 under the 1940
Act.</font></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Comment
13.</font></b><font size="1" color="black" face="Times New Roman" style="color:windowtext;font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Reformat the discussion
in the first paragraph sub-captioned &#147;Other Accounts Managed by the Portfolio
Managers&#148; so as to present the information in a tabular format.</font></p>

<p align="left" style="color:black;font-weight:bold;margin:0in 0in .0001pt 1.25in;text-align:left;text-indent:-1.25in;"><b><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></b></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><u><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">Response 13.</font></u><font size="2" color="black" style="color:windowtext;font-size:10.0pt;">&#160; We respectfully acknowledge the comment;
however, we believe that the</font><font size="2" color="black" style="color:windowtext;font-size:10.0pt;"> format of the current disclosure complies with Form&nbsp;N-2 and is not
confusing to investors.</font></p>

<p align="left" style="color:black;line-height:normal;margin:0in 0in .0001pt 1.5in;text-align:left;"><font size="2" color="black" face="Times New Roman" style="color:windowtext;font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">*&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; *&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; *&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; *&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; *&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; *&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; *&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; *&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; *&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; *&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; *</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Fund acknowledges that
portions of the filing are incomplete and that the Staff may have additional
comments on such portions when they are completed in a pre-effective amendment,
including on disclosures made in response to this letter, on information
supplied in this response letter, or on exhibits added in any pre-effective
amendments.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Fund has not submitted
and does not expect to submit an exemptive application or no-action request in
connection with the Fund&#146;s registration statement.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Fund acknowledges that
it&#160; must review and comply with all
applicable requirements of the federal securities laws in connection with the
preparation and distribution of a preliminary prospectus.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Fund acknowledges that
all persons who are responsible for the accuracy and adequacy of the disclosure
in the filings reviewed by the Staff are to be certain that they have provided
all information investors require for an informed decision.&nbsp; In addition,
the Fund acknowledges that since the Fund and its management are in possession
of all facts relating to the Fund&#146;s disclosure, they are responsible for the
accuracy and adequacy of the disclosures they have made.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As you have requested and
consistent with SEC Release 2004-89, the Fund hereby acknowledges that:</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
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<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.5%;">
  <p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0in 0in 0in 0in;width:87.5%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Fund is responsible for the adequacy and accuracy of the
  disclosure in the filing;</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.5%;">
  <p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0in 0in 0in 0in;width:87.5%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.5%;">
  <p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0in 0in 0in 0in;width:87.5%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">should the Commission or the staff, acting pursuant to delegated
  authority, declare the filing effective, it does not foreclose the Commission
  from taking any action with respect to the filing;</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.5%;">
  <p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0in 0in 0in 0in;width:87.5%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.5%;">
  <p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0in 0in 0in 0in;width:87.5%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the action of the Commission or the staff, acting pursuant to
  delegated authority, in declaring the filing effective, does not relieve the
  Fund from its full responsibility for the adequacy and accuracy of the disclosure
  in the filing; and</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.5%;">
  <p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0in 0in 0in 0in;width:87.5%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="12%" valign="top" style="padding:0in 0in 0in 0in;width:12.5%;">
  <p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#149;</font></p>
  </td>
  <td width="87%" valign="top" style="padding:0in 0in 0in 0in;width:87.5%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Fund may not assert this action as a defense in any proceeding
  initiated by the Commission or any person under the federal securities laws
  of the United States.</font></p>
  </td>
 </tr>
</table>

</div>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If you would like to discuss
any of these responses in further detail or if you have any questions, please
feel free to contact me at (212) 296-6988 or Allison M. Harlow of Clifford
Chance US LLP at (212) 878-4988.&#160; Thank
you.</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Best regards,</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Mary E. Mullin</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mary E. Mullin</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

</div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div align="left" style="margin:0in 0in .0001pt;text-align:left;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

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