Board Appointment & Update

Acorn Income Fund Ld
05 July 2006

                   ACORN INCOME FUND LIMITED (the 'Company')

                      Board Appointment and Company Update


The Board is pleased to announce the appointment of Eitan Milgram to the Board
with effect from 3 July 2006.


The Board is currently in discussions with its advisers regarding the future of
the Company and will make a further announcement in due course.


Enquiries:

Hugh Field            Collins Stewart Limited       Tel: [phone]


5 July 2006






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