Result of AGM

Acorn Income Fund Ld
14 June 2007



Acorn Income Fund Limited


14 June 2007


Results of AGM


The following special resolution was passed at the Annual General Meeting of
Acorn Income Fund Limited on 11 June 2007 at 10.00am:

IT WAS RESOLVED THAT the Company be and is hereby generally and unconditionally
authorised in accordance with The Companies (Purchase of Own Shares) Ordinance
1998 to make market purchases, as defined in that Ordinance, of and cancel its
Ordinary shares of 1p each, provided that:
      
(i)   the maximum number of Ordinary shares hereby authorised to be purchased 
      shall be 1,340,075;

(ii)  the minimum price which may be paid for an Ordinary share shall be 10p;

(iii) the maximum price which may be paid for an Ordinary share shall be an 
      amount equal to £10;

(iv)  the authority hereby conferred shall expire at the conclusion of the 
      Annual General Meeting of the Company in 2008, unless the authority is
      renewed prior to such time;

(v)   the Company may make a contract to purchase Ordinary shares under the 
      authority hereby conferred prior to the expiry of such authoroty which 
      will or may be executed wholly or partly after the expiration of such 
      authority and may make a purchase of Ordinary shares pursuant to any such 
      contract; and

(vi)  any Ordinary Shares so purchased shall be cancelled or if the Directors so 
      determine and subject to the provisions of The Companies (Purchase of Own 
      Shares) Ordinance, 2006 and any applicable regulations of the United
      Kingdom Listing Authority, be held as treasury shares.


For further information:

All Enquiries

The Company Secretary
Northern Trust International Fund Administration Services (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3QL

Tel: [phone]
Fax: [phone]

END


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