Acorn Income Fund Limited (the "Company")                   
      (a closed-ended investment company incorporated with limited liability under 
                  the laws of Guernsey with registered number 34778)               

                              RESULT OF CLASS MEETING OF                           
                         ZERO DIVIDEND PREFERENCE SHAREHOLDERS                     
                                   21 December 2016                                

    The Company advises that the ordinary resolution, as outlined below, put to the
    holders of ZDP Shares at the Class Meeting of the Company held on 20 December
    2016 at 2.00 p.m was duly passed:

    "That the holders of ZDP Shares hereby sanction and consent to:

    1.1 the passing and carrying into effect, as a special resolution of the
    Company, of the first resolution contained in the notice of extraordinary
    general meeting of the Company dated 29 November 2016 (the ''EGM Notice'');

    1.2 the passing and carrying into effect, as an ordinary resolution of the
    Company, of the fourth resolution contained in the EGM Notice;

    1.3 the passing and carrying into effect, as an ordinary resolution of the
    Company, of the fifth resolution contained in the EGM Notice; and

    1.4 any variation or abrogation and/or deemed variation or abrogation of the
    rights attached to the ZDP Shares which will, or may, result from the passing
    and carrying into effect of the resolutions referred to in the foregoing
    sub-paragraphs of this resolution and/or the implementation of the Proposals
    (as defined in the circular to Shareholders of the Company dated 29 November
    2016)."

    (8,842,507 votes in favour, 0 votes against, 0 votes withheld)

    Enquiries:
    Company website: https://www.premierfunds.co.uk/investors/investments/
    investment-trusts/acorn-income-fund

    Investment Manager:
    Premier Fund Managers Limited
    Nigel Sidebottom
    Tel: +44 (0) 1483 400 465
    Email: nigelsidebottom@premierfunds.co.uk

    Broker, Financial Adviser and Sponsor:
    Numis Securities Limited
    Nathan Brown
    Tel: +44 (0) 20 7260 1426
    Email: n.brown@numis.com

    Company Secretary:
    Northern Trust International Fund Administration Services (Guernsey) Limited
    Cara De La Mare
    Tel: +44 (0) 1481 745498
    Email: cd109@ntrs.com