Result of EGM

Acorn Income Fund Ld
10 October 2003

At an Extraordinary General Meeting of the Company held earlier today the
following resolutions were passed, as set out in a Circular to the Company's
Shareholders dated 8 September 2003:-

1.      To authorise the Company to reduce its capital by re-designating part of
        its share premium account as a distributable reserve.
2.      To authorise the Company to amend its Articles of Association and make
        market purchases of and cancel up to 4,440,000 issued Ordinary Shares.
3.      To authorise the Company to change its investment policy.


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