Quarterly CLO Test Results

RNS Number : 8451K

Greenwich Loan Income Fund Ltd

22 July 2011

Greenwich Loan Income Fund Limited ("GLIF" or the "Company")

The Company announces the test results as of 5 July 2011 pursuant to the indenture of T2 Income Fund CLO I Ltd (the "CLO"), of which the Company owns all of the residual economic interest. The report summarising the results of those tests can be found within the attached pdf document.

Click on, or paste the following link into your web browser, to view the associated PDF document.

http://www.rns-pdf.londonstockexchange.com/rns/8451K_-2011-7-21.pdf

With respect to the various tests required under the CLO indenture, the CLO passed all of the collateral and coverage tests as of 5 July 2011, but failed one portfolio percentage limitation test, which relates to the minimum percentage requirement for senior secured loans. It should be noted that the consequence of failing this percentage limitation test is that each new investment made by the CLO must "maintain or improve" the test result. The quarterly results indicate that the CLO met all of the covenant tests necessary for a full payment to be made to the Company, and approximately US$3.0 million has been received from the trustee.

As described in previous press releases, the CLO indenture contains a variety of covenants, compliance with which could be made more difficult or impossible should credit markets deteriorate or the loans held by the CLO fail to make expected payments or otherwise not perform, or for a variety of other reasons, and which if violated could result in additional principal paydowns of the CLO's notes and/or interest diversion.

Contacts:

Geoffrey Miller

Greenwich Loan Income Fund Limited

+353 1 4433 466

Patrick Conroy
Greenwich Loan Income Fund Limited
+1 203 983 5282

Philip Secrett

Nominated Adviser

Grant Thornton Corporate Finance

+44 (0) 20 7383 5100

James Maxwell

Singer Capital Markets Limited

+44 (0) 20 3205 7622