Holding(s) in Company

Acorn Income Fund Ld
11 March 2008



TR-1(i): notification of major interests in shares

+---------------------------------------------+------------------------------+
|1. Identity of the issuer or the underlying  |  Acorn Income Fund Limited   |
|issuer of existing shares to which voting    |                              |
|rights are attached(ii):                     |                              |
+---------------------------------------------+------------------------+-----+
|2. Reason for the notification (please tick the appropriate box or    |     |
|boxes)                                                                |  x  |
+----------------------------------------------------------------------+-----+
|An acquisition or disposal of voting rights                           |     |
+----------------------------------------------------------------------+-----+
|An acquisition or disposal of financial instruments which may result  |     |
|in the acquisition of shares already issued to which voting rights are|     |
|attached                                                              |     |
+----------------------------------------------------------------------+-----+
|An event changing the breakdown of voting rights                      |     |
+----------------------------------------------------------------------+-----+
|Other: Initial notification of shareholding under Transparency        |     |
|Directive                                                             |     |
+---------------------------------------------+------------------------+-----+
|3. Full name of person(s) subject to the     |  Charles Stanley Group PLC   |
|notification obligation(iii):                |                              |
+---------------------------------------------+------------------------------+
|4. Full name of shareholder(s) (if different |   Charles Stanley & Co Ltd   |
|from 3.)(iv):                                |                              |
|                                             |   (Rock Nominees Limited)    |
+---------------------------------------------+------------------------------+
|5. Date of the transaction (and date on which|         3 March 2008         |
|the threshold is crossed or reached if       |                              |
|different)(v):                               |                              |
+---------------------------------------------+------------------------------+
|6. Date on which issuer notified:            |        10 March 2008         |
+---------------------------------------------+------------------------------+
|7. Threshold(s) that is/are crossed or       |             10%              |
|reached:                                     |                              |
+---------------------------------------------+------------------------+-----+
+---------------------------------------------+------------------------+-----+



+----------------------------------------------+----------------------------+
|8. Notified details:                          |                            |
+----------------------------------------------+----------------------------+
+----------------------------------------------------------------------------------+
|A: Voting rights attached to shares                                               |
+------------+------------------+--------------------------------------------------+
|Class/type  |Situation previous|Resulting situation after the triggering          |
|of shares   |to the Triggering |transaction(vii)                                  |
|            |transaction (vi)  |                                                  |
|if possible +--------+---------+--------+--------------------+--------------------+
|using the   |Number  |Number of|Number  |Number of voting    |% of voting rights  |
|ISIN CODE   |of      |Voting   |of      |rights ix           |                    |
|            |Shares  |Rights   |shares  |                    |                    |
|            |        |viii     +--------+-------+------------+---------+----------+
|            |        |         |Direct  |Direct |Indirect xi |Direct   |Indirect  |
|            |        |         |        |x      |            |         |          |
+------------+--------+---------+--------+-------+------------+---------+----------+
|            |        |         |        |       |            |         |          |
|            |        |         |        |       |            |         |          |
|GB0004829437|--      |--       |0       |0      |960,008     |0        |10.7%     |
+------------+--------+---------+--------+-------+------------+---------+----------+
|B: Financial Instruments                                                          |
+----------------------------------------------------------------------------------+
|Resulting situation after the triggering transaction xii                          |
+---------------+-----------+--------------------+--------------------+------------+
|Type of        |Expiration |Exercise/ Conversion|Number of voting    |% of voting |
|financial      |date xiii  |Period/ Date xiv    |rights that may be  |rights      |
|instrument     |           |                    |acquired if the     |            |
|               |           |                    |instrument is       |            |
|               |           |                    |exercised/          |            |
|               |           |                    |converted.          |            |
+---------------+-----------+--------------------+--------------------+------------+
|               |           |                    |                    |            |
+------------+--+-----+-----+---+--------+-------+------------+-------+-+----------+
+------------+--+-----+-----+---+--------+-------+------------+-------+-+----------+
+-----------------------------------------------------------------------------+
|Total (A+B)                                                                  |
+-------------------------------------+---------------------------------------+
|Number of voting rights              |% of voting rights                     |
+-------------------------------------+---------------------------------------+
|                                     |                                       |
|                                     |                                       |
|960,008                              |10.7%                                  |
+-------------------------------------+---------------------------------------+



+----------------------------------------------------------------------------+
|9. Chain of controlled undertakings through which the voting rights and/or  |
|the financial instruments are effectively held, if applicable xv:           |
+----------------------------------------------------------------------------+
|Charles Stanley & Co Ltd (Rock Nominees Limited)                            |
|                                                                            |
|Charles Stanley Group PLC is the holding company of the above.              |
+----------------------------------------------------------------------------+
|Proxy Voting:                                                               |
+-----------------------------------------------+----------------------------+
|10. Name of the proxy holder:                  |                            |
+-----------------------------------------------+----------------------------+
|11. Number of voting rights proxy holder will  |                            |
|cease to hold:                                 |                            |
+-----------------------------------------------+----------------------------+
|12. Date on which proxy holder will cease to   |                            |
|hold voting rights:                            |                            |
+-------------------------------+---------------+----------------------------+
|13. Additional information:    |                                            |
+-------------------------------+--------------------------------------------+
|14. Contact name:              |Robert Howard                               |
+-------------------------------+--------------------------------------------+
|15. Contact telephone number:  |020 7953 2154                               |
+-------------------------------+---------------+----------------------------+
+-------------------------------+---------------+----------------------------+






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