Holding(s) in Company

Acorn Income Fund Ld
08 May 2003

Collins Stewart Limited has notified the Company that with effect from 6 May
2003 Collins Stewart Limited and Collins Stewart (CI) Limited hold and control
2,651,507 ordinary shares in Acorn Income Fund on behalf of discretionary
clients of the two firms. This holding equates to 8.96% of the issued share
capital of that class.

Date Company informed: 8 May 2003


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