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                             THE MEXICO FUND, INC.

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               (Name of Registrant as Specified In Its Charter)


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      (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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                                                 FOR:     The Mexico Fund, Inc.

                                                 CONTACT: Eduardo Solano
                                                          The Mexico Fund, Inc.
                                                          011-52-55-5282-8900


FOR IMMEDIATE RELEASE
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   THE MEXICO FUND, INC. FURTHER ADJOURNS 2003 ANNUAL MEETING OF STOCKHOLDERS

Washington, D.C., April 17, 2003 -- The Mexico Fund, Inc. (NYSE: MXF) reconvened
its 2003 Annual Meeting of Stockholders and further adjourned the Meeting to
April 28, 2003 to provide stockholders additional time to vote on the proposals
for the Meeting. The Meeting will be reconvened at 11:00 a.m. New York City
Time at 30 Rockefeller Plaza, 23rd Floor, New York, New York 10112. The record
date of February 11, 2003 remains the same.

For further information, contact Eduardo Solano, the Fund's Investor Relations
Vice President, at 011-52-55-5282-8900, or by email at
investor-relations@themexicofund.com.

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, Inc. or any other
person that the events or circumstances described in such statement are
material.

                           -- END OF PRESS RELEASE --