An anonymous director reports

ABERDEEN ASIA-PACIFIC INCOME INVESTMENT COMPANY LIMITED ANNOUNCES MONTHLY DISTRIBUTION AND ESTIMATED EARNINGS AND NOTES POTENTIAL FUTURE IMPACT OF COOK ISLANDS TAX LAW CHANGES

Aberdeen Asia-Pacific Income Investment Company Ltd. will pay a monthly distribution of 2.25 cents per ordinary share on Aug. 31, 2020, to all ordinary shareholders of record as of Aug. 21, 2020 (ex dividend date: Aug. 20, 2020).

The policy of the Company's Board of Directors is to maintain a stable monthly distribution out of net investment income and realized capital gains supplemented with paid-in capital as required. This policy is subject to regular review at the Board's quarterly meetings.

The following table sets forth the estimated amounts and the sources of the distributions. The figures in the table below have been computed based on international financial reporting standards. The table includes estimated amounts and percentages for the distribution to be paid on August 31, 2020 as well as the estimated cumulative distributions declared fiscal year to date (11/01/2019 - 07/31/2020), from the following sources: net investment income; net realized gains; return of capital; and return of par. The final composition of the distributions is subject to change and may be impacted by future income, expenses and realized gains and losses on securities and currencies. Although a portion of any distribution may be recorded as a return of capital, the full amount of the distribution (other than a return of par) will be foreign income for Canadian income tax purposes.

                                  Estimated             Estimated      Estimated Amounts of      Estimated Amounts of
                         Amounts of Current    Amounts of Current       Fiscal Year to Date       Fiscal Year to Date
                       Monthly Distribution  Monthly Distribution  Cumulative Distributions  Cumulative Distributions
                              per share ($)         per share (%)             per share ($)             per share (%)

Net Investment Income               $0.0194                   86%                   $0.1935                       86%
Net Realized Gains                  $0.0031                   14%                   $0.0315                       14% 
Return of Capital                         -                     -                         -                         -
Return of Par                             -                     -                         -                         - 
Total (per common 
share)                              $0.0225                  100%                   $0.2250                      100%

Shareholders should not draw any conclusions about the Company's investment performance from the amount of the Company's current distribution.

The amounts and sources of distributions set out above are estimates only and are not being provided for tax reporting purposes. The final determination of the source of all distributions made in 2020 will be made after the year-ended 2020. The actual amounts and sources of the amounts of distributions for tax reporting purposes will depend upon the Company's results during the remainder of the calendar year and are subject to any changes to applicable tax regulations. Information for tax reporting purposes will be provided to the Company's shareholders on a Form T5 in February of 2021.

The Company also announced today that the Cook Islands Parliament recently passed legislation that removes the tax exemptions for Cook Islands international companies, like the Company, subjecting these companies to the Cook Islands company tax regime and a tax on company profit of 20%. Under grandfathering provisions, there is no immediate impact on the Company and the Company will not be subject to the new rules until January 1, 2022. The precise impact of the rule change is still being assessed and it is understood that the Cook Islands will be undertaking a thorough review of its taxation system including the taxation of company income. The Manager is monitoring developments and will evaluate options to mitigate the impact of the rule change.

Aberdeen Standard Investments ("ASI") is the marketing name in Canada for Aberdeen Standard Investments (Canada) Limited ("ASI Canada"), Aberdeen Standard Investments Luxembourg SA, Standard Life Investments Private Capital Ltd, SL Capital Partners LLP, Standard Life Investments Limited, Standard Life Investments (Corporate Funds) Limited, and Aberdeen Capital Management LLC. ASI Canada is the administrator of the Company and is registered as an investment fund manager in Canada where required. ASI Canada is a wholly-owned subsidiary of Aberdeen Standard Investments Inc., the sub-administrator of the Company.

Closed-end funds are traded on the secondary market through one of the stock exchanges. The Company's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the Company. There is no assurance that the Company will achieve its investment objective. Past performance does not guarantee future results.

We seek Safe Harbor.