Press Releases

Announces a continuation of its stock repurchase program

THE SWISS HELVETIA FUND, INC. ANNOUNCES A CONTINUATION OF ITS STOCK REPURCHASE PROGRAM

12/23/2004

The Board of Directors of The Swiss Helvetia Fund, Inc. (SWZ), a closed-end investment company, announced today a continuation of the Fund's stock repurchase program to purchase up to 250,000 shares of its Common Stock during 2005 in open-market transactions to be effected on the New York Stock Exchange. The principal purpose of the stock repurchase program is to enhance stockholder value by increasing the Fund's net asset value per share without creating a meaningful adverse effect upon the Fund's expense ratio and without realizing capital gains in order to fund the repurchases. The Fund has repurchased 189,100 of its shares in open-market transactions during 2004.

The Fund is a non-diversified, closed-end investment company whose objective is to seek long-term capital appreciation through investment in equity and equity-linked securities of Swiss companies. The Fund is managed by Hottinger Capital Corp. and is listed on the New York Stock Exchange under the symbol SWZ.

For further information regarding the Fund, please contact Rudolf Millisits, Executive Vice President of Hottinger Capital Corp. at 1-888-SWISS-00 or (212) 332-2760, 1270 Avenue of the Americas, Suite 400, New York, New York, 10020.