Net Asset Value(s)

Acorn Income Fund Ld
05 January 2006

The directors of Acorn Income Fund Limited today announce that the Net Asset
Value per Ordinary Share based on mid market prices as at 31 December 2005 was
176.04 pence.

The Net Asset Value per Ordinary Share based on bid prices as at 31 December
2005 was 173.74 pence.

Enquiries to:               Collins Stewart Fund Management Limited

                                 No 1 Le Truchot

                                 St Peter Port

                                 Guernsey

                                 GY1 4AE




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