Commencemnt of trading on AIM

T2 Income Fund Limited
05 August 2005


     Not for distribution in the United States, Australia, Canada or Japan

             T2 INCOME FUND LIMITED SHARES COMMENCE TRADING ON AIM

GUERNSEY, 5 August 2005 - T2 Income Fund Limited ('T2' or the 'Company') (T2I:
AIM) is pleased to announce that it has been admitted to trading on the
Alternative Investment Market (AIM) of the London Stock Exchange plc, and that
its ordinary shares commenced trading today on AIM under the symbol 'T2I'. The
Company raised £38,000,000 in gross proceeds in a placing of 38,000,000 ordinary
shares at 100p per share. Grant Thornton Corporate Finance is the Company's
Nominated Adviser and JPMorgan Cazenove Limited is the Company's Broker.

ABOUT T2 INCOME FUND LIMITED:
T2 is a newly established closed-ended Guernsey exempt investment company which
is managed by T2 Advisers, LLC and invests primarily in the debt and equity
securities of small to medium sized companies primarily in the United Kingdom
and elsewhere in Europe, with a particular focus on technology-related
companies. T2 seeks to achieve a high level of current income by investing in
debt securities and to obtain long-term capital growth through the acquisition
of equity interests, which may be acquired as part of the Company's debt
investment, or separately.

FOR FURTHER INFORMATION CONTACT:

Matthew Bass
T2 Advisers, LLC
[phone]

Grant Thornton Corporate Finance and JP Morgan Cazenove Limited are acting for
the Company and no one else in connection with the placing and admission of the
shares and will not be responsible to anyone other than the Company for
providing the protections afforded to their respective clients or for providing
advice in relation to the placing and admission or any other matter referred to
herein.

This announcement and the information contained herein is not for publication,
distribution or release in, or into, directly or indirectly, the United States.
This announcement does not constitute, or form part of, an offer or invitation
to sell or issue, or any solicitation of an offer to purchase or subscribe for
securities and any subscription for or purchase of, or application for, shares
in the Company should only be made on the basis of information contained in the
admission document dated 1 August 2005 which contains detailed information about
the Company and its management.

This announcement does not constitute an offer of securities for sale in the
United States, nor may the securities be offered or sold in the United States
absent registration or an exemption from registration as provided in the U.S.
Securities Act of 1933, as amended, and the rules and regulations thereunder.
There is no intention to register any portion of the offering in the United
States or to conduct a public offering of securities in the United States. The
Company is not, and will not be, registered under the U.S. Investment Company
Act of 1940, as amended, and investors will not be entitled to the benefits of
such Act.

The information contained herein shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the securities
referred to herein in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration, exemption from registration or
qualification under the securities laws of any such jurisdiction.

The contents of this announcement include statements that are, or may deemed to
be 'forward-looking statements'. Such forward-looking statements involve risks,
uncertainties and other factors which may cause the actual results, performance
or achievement of the Company, or industry results, to be materially different
from any future results, performance or achievements expressed or implied by
such forward-looking statements. Such risks, uncertainties and other factors
include, among others, changes in the credit markets, changes in interest rates,
legislative and regulatory changes, changes in taxation regimes and general
economic and business conditions, particularly in the United Kingdom. These
forward-looking statements speak only as at the date of this announcement.



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