CERTIFICATION
PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, John J. O'Keefe, certify that:

1. I have reviewed this report on Form N-CSR of The Thai
Capital Fund, Inc.

2.. Based on my knowledge, this report does not contain any
untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light
of the circumstances under which such statements were made,
not misleading with respect to the period covered by this
report;

3. Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present
in all material respects the financial condition, results of
operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of
cash flows) of the registrant as of, and for, the periods
presented in this report;

4. The registrant's other certifying officers and I are
responsible for establishing and maintaining disclosure
controls and procedures (as defined in Rule 30a-2(c) under the
Investment Company Act of 1940) for the registrant and have:

a) designed such disclosure controls and procedures to ensure
that material information relating to the registrant,
including its consolidated subsidiaries, is made known to us
by others within those entities, particularly during the
period in which this report is being prepared;

b) evaluated the effectiveness of the registrant's disclosure
controls and procedures as of a date within 90 days prior to
the filing date of this report (the "Evaluation Date"); and

c) presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures based
on our evaluation as of the Evaluation Date;

5. The registrant's other certifying officers and I have
disclosed, based on our most recent evaluation, to the
registrant's auditors and the audit committee of the
registrant's board of directors (or persons performing the
equivalent functions):

a) all significant deficiencies in the design or operation of
internal controls which could adversely affect the
registrant's ability to record, process, summarize, and report
financial data and have identified for the registrant's
auditors any material weaknesses in internal controls; and

b) any fraud, whether or not material, that involves
management or other employees who have a significant role in
the registrant's internal controls; and

6. The registrant's other certifying officers and I have
indicated in this report whether or not there were significant
changes in internal controls or in other factors that could
significantly affect internal controls subsequent to the date
of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material
weaknesses.

Date: August 25, 2003

\s\John J. O'Keefe
---------------------------------------
John J. O'Keefe, Vice President & Treasurer



CERTIFICATION
PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Ikou Mori, certify that:

1. I have reviewed this report on Form N-CSR of The Thai
Equity Fund, Inc.

2.. Based on my knowledge, this report does not contain any
untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light
of the circumstances under which such statements were made,
not misleading with respect to the period covered by this
report;

3. Based on my knowledge, the financial statements, and other
financial information included in this report, fairly present
in all material respects the financial condition, results of
operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of
cash flows) of the registrant as of, and for, the periods
presented in this report;

4. The registrant's other certifying officers and I are
responsible for establishing and maintaining disclosure
controls and procedures (as defined in Rule 30a-2(c) under the
Investment Company Act of 1940) for the registrant and have:

a) designed such disclosure controls and procedures to ensure
that material information relating to the registrant,
including its consolidated subsidiaries, is made known to us
by others within those entities, particularly during the
period in which this report is being prepared;

b) evaluated the effectiveness of the registrant's disclosure
controls and procedures as of a date within 90 days prior to
the filing date of this report (the "Evaluation Date"); and

c) presented in this report our conclusions about the
effectiveness of the disclosure controls and procedures based
on our evaluation as of the Evaluation Date;

5. The registrant's other certifying officers and I have
disclosed, based on our most recent evaluation, to the
registrant's auditors and the audit committee of the
registrant's board of directors (or persons performing the
equivalent functions):

a) all significant deficiencies in the design or operation of
internal controls which could adversely affect the
registrant's ability to record, process, summarize, and report
financial data and have identified for the registrant's
auditors any material weaknesses in internal controls; and

b) any fraud, whether or not material, that involves
management or other employees who have a significant role in
the registrant's internal controls; and

6. The registrant's other certifying officers and I have
indicated in this report whether or not there were significant
changes in internal controls or in other factors that could
significantly affect internal controls subsequent to the date
of our most recent evaluation, including any corrective
actions with regard to significant deficiencies and material
weaknesses.

Date: August 25, 2003

\s\ Ikou Mori
---------------------------------------
Ikou Mori, Chairman


THE Thai Capital FUND, INC.
INVESTMENT ADVISER
CERTIFICATION

I, Cholathee Pornrojnangkool, Portfolio Manager of SCB Asset
Management Co., Ltd. (the "Manager"), certify to the best of my
knowledge that:

1.  I am responsible for providing The Thai Capital Fund, Inc.
(the "Fund") with certain information identified in the N-
CSR report that is attached as Schedule A hereto, which
information I understand is used by the Fund in compiling its
financial statements and preparing its annual and semi-annual
reports.

2.  Such information is generated through the use of practices
and procedures that are widely accepted in the investment
management industry and have a sound basis in investment
management fundamentals.  The information is provided to the
Fund only after sufficient due diligence has been conducted.

3.  I am further responsible for establishing and maintaining
disclosure controls and procedures for the Adviser, such
disclosure controls and procedures have been designed to
ensure that the information identified in the schedule is made
known to me, and I have evaluated the effectiveness of the
Adviser's disclosure controls and procedures within 90 days
prior to the filing date of the Report.




Dated:  August 25, 2003




\s\ Cholathee Pornrojnangkool
Cholathee Pornrojnangkool
Portfolio Manager










CERTIFICATION
Pursuant to Section 906
of the Sarbanes-Oxley Act of 2002

The undersigned, the Vice President & Treasurer of The Thai
Capital Fund, Inc. (the "Fund"), with respect to the Form N-CSR
for the period ended June 30, 2003 as filed with the
Securities and Exchange Commission, hereby certifies, pursuant
to 18 U.S.C. Section 1350, as adopted pursuant to Section 906
of the Sarbanes-Oxley Act of 2002, that:

1. such Form N-CSR fully complies with the requirements of
section 13(a) or 15(d) of the Securities Exchange Act of 1934;
and

2. the information contained in such Form N-CSR fairly
presents, in all material respects, the financial condition
and results of operations of the Funds.


Dated: August 25, 2003


/s/ John J. O'Keefe
----------------------------------
John J. O'Keefe

This certification is being furnished solely pursuant to 18
U.S.C. Section 1350 and is not being filed as part of the
Report or as a separate disclosure document.



CERTIFICATION
Pursuant to Section 906
of the Sarbanes-Oxley Act of 2002

The undersigned, the Chairman of The Thai Capital Fund, Inc.
(the "Fund"), with respect to the Form N-CSR for the period
ended June 30, 2003 as filed with the Securities and Exchange
Commission, hereby certifies, pursuant to 18 U.S.C. Section
1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002, that:

1. such Form N-CSR fully complies with the requirements of
section 13(a) or 15(d) of the Securities Exchange Act of 1934;
and

2. the information contained in such Form N-CSR fairly
presents, in all material respects, the financial condition
and results of operations of the Funds.


Dated: August 25, 2003


/s/ Ikou Mori
----------------------------------
Ikou Mori

This certification is being furnished solely pursuant to 18
U.S.C. Section 1350 and is not being filed as part of the
Report or as a separate disclosure document.









EXHIBIT B(1)



NYA 612686.1


EXHIBIT B(2)