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NOTICE OF GUARANTEED DELIVERY
FOR
TENDER OF SHARES OF COMMON STOCK OF
MORGAN STANLEY DEAN WITTER
AFRICA INVESTMENT FUND, INC.
This form, or one substantially equivalent hereto, must be used to accept
the Offer (as defined below) if a stockholder's certificates for shares of
common stock, par value $0.01 per share (the "Shares") of Morgan Stanley Dean
Witter Africa Investment Fund, Inc., are not immediately available or time will
not permit the Letter of Transmittal and other required documents to be
delivered to the Depositary on or before 5:00 p.m., New York City time,
September 15, 2000, or such later date to which the Offer is extended (the
"Termination Date"). Such form may be delivered by hand or transmitted by
telegram, facsimile transmission or mail to the Depositary, and must be received
by the Depositary on or before the Termination Date. See Section 3, "Procedure
for Tendering Shares," of the Fund's Issuer Tender Offer Statement.
The Depositary:
AMERICAN STOCK TRANSFER AND TRUST COMPANY
Facsimile Copy Number: 718-234-5001
Confirm by Telephone: 718-921-8200
For Account Information Call:
Toll Free: 800-937-5449
or
718-921-8200
By First Class Mail, By Overnight Courier, By Hand:
American Stock Transfer and Trust Company
40 Wall Street
46th Floor
New York, New York 10005
DELIVERY OF THIS INSTRUMENT TO AN ADDRESS OTHER THAN AS SET FORTH ABOVE OR
TRANSMISSION VIA A FACSIMILE NUMBER OTHER THAN ONE LISTED ABOVE DOES NOT
CONSTITUTE A VALID DELIVERY
Ladies and Gentlemen:
The undersigned hereby tenders to Morgan Stanley Dean Witter Africa
Investment Fund, Inc. (the "Fund"), upon the terms and subject to the conditions
set forth in its Issuer Tender Offer Statement, dated August 14, 2000 (the
"Fund's Offer") and the related Letter of Transmittal (which together constitute
the "Offer"), receipt of which is hereby acknowledged, the number of Shares set
forth on the reverse side pursuant to the guaranteed delivery procedures set
forth in Section 3, "Procedure for Tendering Shares," of the Fund's Issuer
Tender Offer Statement.
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Number of Shares Tendered:
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Certificate Nos. (if available):
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If Shares will be tendered by book-entry transfer, check box:
[ ] The Depository Trust Company
Account Number:
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Name(s) of Record Holder(s):
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Address:
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Area Code and Telephone Number:
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Taxpayer Identification (Social Security) Number:
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The undersigned also tenders all uncertificated Shares that may be held in the
name of the registered holder(s) by the Fund's transfer agent pursuant to the
Fund's dividend reinvestment and cash purchase plan:
____________ Yes ____________ No
(Note: If neither of these boxes is checked,
any such uncertificated Shares will not be tendered.)
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Dated: _______________________ , 2000
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Signature(s)
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GUARANTEE
The undersigned, a member firm of a registered national securities
exchange, a member of the National Association of Securities Dealers, Inc., or a
commercial bank or trust company having an office, branch, or agency in the
United States, hereby (a) guarantees to deliver to the Depositary certificates
representing the Shares tendered hereby, in proper form for transfer (or tender
shares pursuant to the procedure for book-entry transfer) into the Depositary's
account at The Depository Trust Company, together with (i) a properly completed
and duly executed Letter of Transmittal (or facsimile thereof) with any required
signature guarantees and (ii) other required documents, within three business
days after the Termination Date of the Offer, and (b) represents that such
tender of Shares complies with Rule 14e-4 under the Securities Exchange Act of
1934, as amended.
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<S> <C>
Name of Firm: ---------------------------------- ---------------------------------------------------
(AUTHORIZED SIGNATURE)
Address: ----------------------------------------- Name: -------------------------------------------
(PLEASE PRINT)
--------------------------------------------------- Title: --------------------------------------------
CITY STATE ZIP CODE
Area Code and Tel. No. ------------------------ Dated: ------------------------------------, 2000
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DO NOT SEND SHARE CERTIFICATES WITH THIS FORM. YOUR SHARE
CERTIFICATES MUST BE SENT WITH THE LETTER OF TRANSMITTAL.
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