Loan Repayment

Acorn Income Fund Ld
31 October 2006

                           Acorn Income Fund Limited

                      Loan Repayment and Portfolio Update


The Company has today repaid £15 million of the £25.616 million outstanding on
its loan from Bank of Scotland.

In preparation for the proposed Tender Offer, the Company has realised the
majority of its bond portfolio, and its smaller companies investment adviser,
Unicorn Asset Management Limited, is realising assets from the smaller companies
portfolio.

As at 30 October 2006 (after the potential repayment of the loan) the Company's
assets were as follows:


Equities                          £50.8 million                  72.16%
Bonds                             £3.0 million                   4.26%
Cash                              £16.6 million                  23.58%


Enquiries:

Paul Richards

Fairfax I.S. PLC                         020 7598 5368



                      This information is provided by RNS
            The company news service from the London Stock Exchange