The Mexico Fund, Inc. Declares Distribution and Ratifies Continuation of Managed Distribution Plan for Fiscal 2013

WASHINGTON, DC -- (Marketwire) -- 12/04/12 -- The Mexico Fund, Inc. (NYSE: MXF) announced today that the Board of Directors (Board) declared a distribution of $0.6262 per share to stockholders of record on December 26, 2012, which is payable in cash on January 17, 2013, consisting of (1) a distribution of $0.5960 per share pursuant to its Managed Distribution Plan (MDP) and (2) an additional distribution of $0.0302 per share paid by the Fund to meet applicable tax requirements under the U.S. Internal Revenue Code. This combined distribution is the last corresponding to the fiscal year 2012.

Under the Fund's MDP, the Fund pays quarterly distributions at an annual rate of 10% of the Fund's net asset value (NAV) per share recorded on the last business day of the previous calendar year. The Board has ratified the continuation of the Fund's MDP during fiscal 2013 at the same annual rate of 10%, with distributions to be based on the Fund's NAV per share as of December 31, 2012. The first distribution of fiscal 2013 is expected to be made during April 2013. The Board may amend or terminate the MDP at any time without prior notice to stockholders; however, at this time, there are no reasonably foreseeable circumstances that might cause the termination of the MDP. Since the implementation of the MDP in September 2008, the Fund has paid a total of $12.4384 per share in cash distributions to stockholders.

The amount of distributable income for each fiscal period depends on the aggregate gains and losses realized by the Fund during the entire year. Distributions may consist of net investment income, capital gains and return of capital, but the character of these distributions cannot be determined until after the end of the Fund's fiscal year.

However, under the Investment Company Act of 1940, the Fund is required to indicate the source of each distribution to stockholders. The following table sets forth (A) an estimate of the source of the combined January distribution (including the portion of the distribution paid pursuant to the MDP and the additional distribution) and (B) an estimate of the source of distributions for the current fiscal year:

    Distribution Estimates         January 2013        Fiscal Year-to-date
                                         Percent of             Percent of
            Source            Per Share   Current    Per Share  Fiscal Year
                               Amount   Distribution  Amount   Distributions
Net Investment Income          $0.1567     25.03%     $0.1567     25.03%
Net Realized Short-Term        $0.0210     3.35%      $0.0210      3.35%
Capital Gains
Net Realized Long-Term         $0.4485     71.62%     $0.4485     71.62%
Capital Gains
Return of Capital (or other       -          -           -           -
Capital Source)
Total Distribution             $0.6262    100.00%     $0.6262     100.00%

Information regarding the Fund's performance and distribution rates is set forth below:

Average Annual Total Return for the 5-year period ended on November
30, 2012(2)                                                           12.53%
Current Annualized Distribution Rate (current fiscal year)(3)            -
Current Fiscal Year Cumulative Total Return(4)                         2.79%
Cumulative Distribution Rate (current fiscal year)(5)                    -

(1) The Fund's current fiscal year began on November 1, 2012.

(2) Average Annual Total Return represents the simple arithmetic average of the Annual NAV Total Returns of the Fund for the last five years. Annual NAV Total Return is the percentage change in the Fund's NAV over a year including distributions paid and assuming reinvestment of those distributions.

(3) The Current Annualized Distribution Rate is the Cumulative Distribution Rate as of November 30, 2012 annualized as a percentage of the Fund's NAV at the same date. As of the date of this press release, this rate is zero because the $0.6262 distribution has not been paid yet.

(4) Current Fiscal Year Cumulative Total Return is the percentage change in the Fund's NAV from November 1, 2012 through November 30, 2012, including distributions paid and assuming reinvestment of those distributions.

(5) Cumulative Distribution Rate for the Fund's current fiscal period (November 1, 2012 through November 30, 2012) measured on the dollar value of distributions in the period as a percentage of the Fund's NAV as of November 30, 2012. As of the date of this press release, this rate is zero because the $0.6262 distribution has not been paid yet.

You should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's MDP.

The amounts and sources of distributions reported above are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund's investment experience during the remainder of the calendar year and may be subject to changes based on tax regulations. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report the distribution for federal income tax purposes.

For further information, contact the Fund's Investor Relations office at 011-52-55-5282-8900, or by email at

The Mexico Fund, Inc. is a non-diversified closed-end management investment company with the investment objective of long-term capital appreciation through investments in securities, primarily equity, listed on the Mexican Stock Exchange. The Fund provides a vehicle to investors who wish to invest in Mexican companies through a managed non-diversified portfolio as part of their overall investment program.

This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Fund's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Fund's filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Fund undertakes no obligation to release publicly any revisions to these forward looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by The Mexico Fund or any other person that the events or circumstances described in such statement are material.

Eduardo Solano
The Mexico Fund, Inc.

Patricia Baronowski
Pristine Advisers, LLC
(631) 756-2486

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