The Mexico Equity and Income Fund, Inc. Announces Consideration by the Board of Directors of Investment Advisers' Proposals NEW YORK--(BUSINESS WIRE)--March 6, 2000--The Mexico Equity and Income Fund, Inc. (the ``Fund'') announced at a Meeting of the Board of Directors of the Fund held on March 3, 2000, the Board considered alternatives presented by Advantage Advisers, Inc. and Acci Worldwide S.A. de C.V. (the ``Investment Advisers'') for affording stockholders the opportunity to promptly realize net asset value for all their shares. At the meeting, the Board of Directors determined that the alternatives require further review and agreed to again consider the alternatives at a Special Meeting to be held in approximately 30 days.
At the Annual Meeting of Stockholders of the Fund, as reconvened on February 4, 2000, the stockholders of the Fund approved a proposal that within 30 days of approval of the proposal, the Investment Advisers present to the Board of Directors a proposal designed to afford stockholders an opportunity to promptly realize net asset value for their shares. At a meeting held on February 9, 2000, the Board of Directors requested that the Investment Advisers present such a proposal to the Board for consideration at the Board Meeting on March 3, 2000.
The Fund is a closed-end management investment company that seeks high total return through capital appreciation and current income by investing primarily in equity and convertible debt securities issued by Mexican companies and debt securities of Mexican issuers. The Fund is traded on the New York Stock Exchange under the trading symbol ``MXE''. The Fund's U.S. Co-Adviser, Advantage Advisers, is a subsidiary of CIBC World Markets Corp. Acci Worldwide is the Mexican Adviser to the Fund.
Periodically updated information on the Fund can be obtained by calling the Fund's dedicated telephone line. Information provided includes a recorded update reviewing the Fund's top issues, net asset value, performance and other information. The Fund's toll free number is (800) 421-4777.