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FOR IMMEDIATE RELEASE
Release date: December 15, 1998

For further information contact:
Cecilia Gondor-Morales
(305) 271-1900

The Herzfeld Caribbean Basin Fund Declares Year-End Distribution

The Board of Directors of The Herzfeld Caribbean Basin Fund (NASDAQ Symbol: CUBA) has declared a 1998 year-end distribution of $0.709 per share to shareholders of record December 31, 1998, payable January 27, 1999, consisting of:

*Mid Term Capital Gains    $0.056 per share
Long Term Capital Gains    $0.653 per share

*The mid-tem capital gain portion of the distribution resulted from distributions received by the Fund from other closed-end funds held in The Herzfeld Caribbean Basin Fund's portfolio.  These distributions are passed through to Herzfeld Caribbean shareholders as originally categorized.

The Herzfeld Caribbean Basin Fund is a closed-end fund managed by HERZFELD/CUBA, a division of Thomas J. Herzfeld Advisors, Inc. (based in Miami).

Nothing on this page or web site should be considered a buy, sell or hold recommendation.
Thomas J. Herzfeld Advisors, Inc. maintains this web site as a convenience for its clients, the stockholders of The Herzfeld Caribbean Basin Fund, Inc. and other interested investors for information purposes only.  The information on this web site is not intended to address any individual's particular circumstances.   This web site should not be considered an offer to buy or sell securities.  While we have made every effort to provide current, accurate information, it may, however, contain errors, and we make no representation or warranty, express or implied, as to the timeliness, accuracy or completeness of any information when it is received.  Thomas J. Herzfeld Advisors, Inc. and its affiliates bear no responsibility for the content of any other web site that may be linked to this web site.
Thomas J. Herzfeld Advisors, Inc., PO Box 161465, Miami, FL   33116 | Phone: 305-271-1900 | Toll Free: 800-TJH-FUND |