UKLA Listing Rule 21.20l(ii)

Acorn Income Fund Ld
02 July 2004



Acorn Income Fund Limited (the 'Company')

Disclosure requirement re : UKLA Listing Rule 21.20(l)(ii)

In accordance with the UKLA Listing Rule 21.20(l)(ii), the following list
represents the Company's ten largest investments as at 30 June 2004:


Name of Company


James Halstead
Conversion 9% Loan Stock
BSS Group
Pendragon
Robert Walters
Rotork
Wellington Holdings
Diploma
Alpha Airports Group
Abacus Group


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