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FOR IMMEDIATE RELEASE
Release date: February 17, 1999

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

The Herzfeld Caribbean Basin Fund Ranked Number One

The Herzfeld Caribbean Basin Fund (Nasdaq Symbol: CUBA) has received several performance achievement awards from Lipper Analytical.  The fund was ranked number one performer among Closed-End Latin American Funds for the past one and five year periods; and also the number one performer among Latin American Equity Funds for the past two and five year periods.

The fund is currently fully invested.  The portfolio includes holdings in the following countries: Belize, Cayman Islands, Colombia, Costa Rica, Cuba*, Dominican Republic, Mexico, Netherlands Antilles, Panama, Puerto Rico, USA, Venezuela, Virgin Islands.

Thomas J. Herzfeld, the fund's president and portfolio manager, stated, "I believe we are coming close to the end of the 37 year Cuban embargo.  In. the meantime, The Herzfeld Caribbean Basin Fund will endeavor to continue to make investments throughout the Caribbean region, especially in companies which we believe will benefit from resumed trade with Cuba."

The Herzfeld Caribbean Basin Fund was the first fund formed to invest in the Caribbean region, including Cuba once it is legally permitted to do so**.  The Herzfeld Caribbean Basin Fund is a closed-end fund managed by HERZFELD/CUBA, a division of Thomas J. Herzfeld Advisors, Inc.

*Republic of Cuba - 4.5%, 1977 - in default

**U.S. law currently prohibits direct or indirect investment in Cuba and there is no assurance that such prohibition will be changed.  Until the U.S. trade embargo against Cuba is lifted, the fund will not make any investments prohibited by such embargo.

Past performance is not an indication of future results.

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 | Fax: 305-270-1040 |