Further re: Proposed issue of equity

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, TO US PERSONS OR IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA,
THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND, JAPAN OR ANY
JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.

This announcement does not constitute or form part of, and should not be
construed as, any offer for sale or subscription of, or solicitation of any
offer to buy or subscribe for, any shares in TwentyFour Income Fund Limited or
securities in any other entity, in any jurisdiction, including the United
States, nor shall it, or any part of it, or the fact of its distribution, form
the basis of, or be relied on in connection with, any contract or investment
decision whatsoever, in any jurisdiction. This announcement does not constitute
a recommendation regarding any securities.

14 October 2014

TwentyFour Income Fund Limited

(a non-cellular company limited by shares incorporated in the Island of
Guernsey under the Companies (Guernsey) Law 2008, as amended, with registered
number 56128 and registered as a Registered Closed-ended Collective Investment
Scheme with the Guernsey Financial Services Commission)

Further re: Proposed issue of equity

Further to the announcement of 8 October 2014, the board of TwentyFour Income
Fund Limited, wishes to advise that the issue price per New Share will be
125.769 pence, calculated as a 5% premium to the NAVper share as at 10 October
2014 of 121.28p, excluding 1.5p per Share representing an amount equal to the
dividend per share for the quarter to 30 September 2014 to which the New Shares
will not be entitled.

Qualified investors (note 1) are invited to apply for New Shares by contacting
Numis on the contact details below. The decision to allot New Shares to any
qualified investor shall be at the absolute discretion of the Company and
Numis.

The Company will make a further announcement in due course.


For further information, please contact:

Numis Securities Limited:                                  [phone]
Chris Gook / David Luck (Sales)
Nathan Brown / Hugh Jonathan (Corporate Finance & Broking)

TwentyFour Income Fund Limited:                            [phone]
John Magrath
Alistair Wilson


Note 1 - As defined in section 86(7) of the Financial Services and Markets Act
2000 (as amended).


Important Information

This announcement has been prepared by, and is the sole responsibility of,
TwentyFour Income Fund Limited (the "Company").

Numis Securities Limited is acting only for the Company in connection with the
matters described in this announcement and is not acting for or advising any
other person, or treating any other person as its client, in relation thereto
and will not be responsible for providing the regulatory protection afforded to
clients of Numis Securities Limited or advice to any other person in relation
to the matters contained herein.

The Company is not and will not be registered under the US Investment Company
Act of 1940, as amended. The New Shares have not been, nor will they be,
registered under the US Securities Act of 1933, as amended (the "Securities
Act") or with any securities regulatory authority of any state or other
jurisdiction of the United States or under the applicable securities laws of
Australia, Canada, Japan, the Republic of Ireland or the Republic of South
Africa or any other jurisdiction that is a member state of the European
Economic Area (other than the United Kingdom). Subject to certain exceptions,
the New Shares may not be offered or sold in the United States, Australia,
Canada, Japan, the Republic of Ireland or the Republic of South Africa or any
other jurisdiction that is a member state of the European Economic Area (other
than the United Kingdom) or to or for the account or benefit of any national,
resident or citizen of any member state of the European Economic Area (other
than the United Kingdom), Australia, Canada, Japan, the Republic of Ireland or
the Republic of South Africa or any person located in the United States.
Placings under the Issue and the distribution of this announcement in other
jurisdictions may be restricted by law and the persons into whose possession
this announcement comes should inform themselves about, and observe, any such
restrictions.