Result of Tender Offer

Acorn Income Fund Ld
04 January 2007

                           ACORN INCOME FUND LIMITED

                             Result of Tender Offer



Applications under the Tender Offer were received for 20,660,212 million
Ordinary Shares.  Following completion of the Tender Offer there will be
8,939,790 million Ordinary Shares in issue.

The Tender Price has been calculated at 201.60p per Ordinary Share.  Accordingly
the net assets of the Company following completion of the Tender Offer will,
based on the Tender Price, be £18.023 million and accordingly the condition of
the Tender Offer that the Company must have net assets of £15 million or more
has been satisfied.  The Tender Offer is still conditional, inter alia, upon the
passing of the Tender Offer Resolution at the Extraordinary General Meeting on 5
January 2007 and the approval of the Court for the reduction of the share
capital and the share premium account.

Enquiries

Paul Richards                               020 7598 5368
Fairfax I.S. PLC




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