Portfolio Update

Acorn Income Fund Ld
05 April 2007


                          STOCK EXCHANGE ANNOUNCEMENT


For Immediate Release 05 April 2007


                               Acorn Income Fund

                                (the 'Company')


                 Re: Investment Information as at 31 March 2007


In accordance with Rules 21.20 (L) (ii), the Directors of the Company confirm
the following:-

Investments by the Fund with a value greater than 5% of the Fund's gross assets
as at 31 March 2007


UK Treasury 7.25% 07/12/2007

Lupus Capital plc

Abacus Polar

Bespak Ord

Laird Group


The ten largest Investments of the Fund as at the 31 March 2007


UK Treasury 7.25% 07/12/2007

Lupus Capital plc

Abacus Polar

Bespak Ord

Laird Group

Renishaw Ord

Weir Group

Fenner Ord

Bodycote Intl

Spirax-Sarco Eng Ord






Enquiries:
Northern Trust International Fund
Administration Services (Guernsey) Limited    Sean Murray    [phone]






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