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FOR IMMEDIATE RELEASE
Miami, Florida
November 20, 2002  

NASDAQ SmallCap: CUBA
Cusip: 42804T106

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

The Herzfeld Caribbean Basin Fund, Inc. Declares
Year-End Distribution

Miami, FL – The Board of Directors of The Herzfeld Caribbean Basin Fund, Inc. (Nasdaq: CUBA) declared a year-end distribution from net capital gains of $0.07746 per share payable on January 15, 2003 to stockholders of record December 31, 2002. The distribution is taxable to stockholders for the calendar year 2002.

The Herzfeld Caribbean Basin Fund, Inc. is a closed-end fund managed by HERZFELD/CUBA a division of Thomas J. Herzfeld Advisors, Inc. (based in Miami).  The Fund seeks long-term capital appreciation.  To achieve its objective, the Fund invests in issuers that are likely, in the Advisor’s view, to benefit from economic, political, structural and technological developments in the countries in the Caribbean Basin, which the Fund considers to consist of Cuba, Jamaica, Trinidad and Tobago, the Bahamas, the Dominican Republic, Barbados, Aruba, Haiti, the Netherlands Antilles, the Commonwealth of Puerto Rico, Mexico, Honduras, Guatemala, Belize, Costa Rica, Panama, Colombia, Venezuela and the United States.

Thomas J. Herzfeld Advisors, Inc. specializes in the field of closed-end funds.  Information about the advisor and the Fund can be found at www.herzfeld.com. Information about research published by Thomas J. Herzfeld Advisors, Inc. is available at www.herzfeldresearch.com.
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 |