Directorate Change

Acorn Income Fund Ld
30 October 2003



Acorn Income Fund Limited (the 'Company')


The Board of Directors of the Company wishes to announce that Mr John Claude
Tibbo has resigned as a non-executive director of the Company with effect from
30 October 2003. The Board would like to thank Mr Tibbo for his contribution to
the Company since its formation.


The Board is pleased to announce the appointment of Mr John Campbell Boothman as
a non-executive director of the Company with effect from 30 October 2003.


Mr Boothman is currently non-executive chairman of Aztec Financial Services
Limited and a non-executive director of Jersey Telecom Group Limited. He was
managing director of Deutsche Bank International Limited from 1994 to 2002 and
he also acted as a director of Deutsche Bank Group Companies in the UK, Jersey,
Guernsey and the Cayman Islands. Prior to that he was banking and treasury
director.


There are no disclosures required to be made under paragraph 16.4 of the Listing
Rules of the UK Listing Authority in respect of Mr Boothman.




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