MEXICO FUND INC — Director's Dealing 2007

May 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MEXICO FUND INC (MXF)
CIK: 0000065433
Period of Report: 2007-04-27

Reporting Person: GAMBOA EMILIO CARRILLO (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-04-27	Common Stock	X	770	$38.89	Acquired	3079	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-04-27	Rights	$38.89	X	2309	Acquired	2007-04-20	3 rights for every 1 share (770)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2420	Indirect

Footnotes

F1: Rights holders who were shareholders on the Record Date and who fully exercised the rights they obtained in the primary subscription were entitled to an over-subscription privilege under which they may subscribe for additional shares of common stock at the Subscription Price. The shares of common stock shown on this Form 4 exclude the number of shares of common stock acquired pursuant to the over-subscription privilege to which the reporting person was entitled under the Rights Offering, which amount is still not determinable as of this date.

F2: The shares listed under Item 4 of Table I were acquired through subscription in the issuer's one-for-three rights offering. Shares issued pursuant to the exercise of 2,309 rights issued to Mr. Emilio Carrillo Gamboa were acquired on April 27, 2007.