Net Asset Value(s)

Acorn Income Fund Ld
08 August 2006

The directors of Acorn Income Fund Limited today announce that the Net Asset
Value per Ordinary Share based on mid market prices as at 31 July 2006 was
184.75 pence.

The Net Asset Value per Ordinary Share based on bid prices as at 31 July 2006
was 183.15 pence.

Enquiries to:               Collins Stewart Fund Management Limited

                                 No 1 Le Truchot

                                 St Peter Port

                                 Guernsey

                                 GY1 4AE


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