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RAC INCOME FUND DECLARES FEBRUARY DIVIDEND

 RAC INCOME FUND DECLARES FEBRUARY DIVIDEND
 COLUMBIA, Md., Jan. 28 /PRNewswire/ -- RAC Income Fund, Inc.


(NYSE: RMF) today announced a monthly dividend for February of $0.105 per share to holders of record on Feb. 14, 1992, payable on Feb. 28.
 The ex-dividend trade date is Feb. 10, 1992.
 The fund's net asset value per share as of Jan. 24, 1992, was $11.53, which was unchanged from the previous week's net asset value per share of $11.53.
 As previously announced, the fund is currently involved in an equity rights offering for 2,088,360 shares. The subscription period for this offering expires at 5 p.m. EST Jan. 31, 1992.
 RAC Income Fund, a closed-end investment fund, primarily invests in fixed-income mortgage-backed securities that are rated AAA or AA by a nationally recognized agency, or are issued or guaranteed by the U.S. government, its agencies or instrumentalities. The fund's goal is to distribute monthly income that is 150 to 200 basis points greater than the rate obtainable from U.S. Treasury securities, having the same maturity as the expected average life of the fund's investments.
 -0- 1/28/92
 /CONTACT: Sylvia Gillan of RAC Income Fund, 410-730-6851/
 (RMF) CO: RAC Income Fund, Inc. ST: Maryland IN: FIN SU: DIV


MP-LJ -- PH004 -- 4051 01/28/92 08:39 EST
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Publication:PR Newswire
Date:Jan 28, 1992
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