RMK Multi-Sector High Income Fund Declares $0.14 Per Share Distribution.

MEMPHIS, Tenn. -- The Board of Directors of RMK Multi-Sector High Income Fund, Inc. (NYSE: RHY) declared three monthly distributions of $0.14 per share. Monthly distributions will be payable on March 22, 2007, April 20, 2007 and May 22, 2007 to stockholders of record on March 16, April 16 and May 16, respectively. Ex-dividend dates are March 14, April 12 and May 14.

RMK Multi-Sector High Income Fund, Inc. is a diversified, closed-end investment company seeking a high level of current income with capital appreciation as a secondary investment objective.

About Morgan Asset Management:

Morgan Asset Management, Inc. is the investment advisory arm of Regions Financial Corporation (NYSE: RF). Morgan Asset Management is the investment advisor to Regions Morgan Keegan Trust, Regions Morgan Keegan Select Funds, Morgan Keegan Select Fund, Inc., RMK Advantage Income Fund, Inc., RMK High Income Fund, Inc., RMK Multi-Sector High Income Fund, Inc. and RMK Strategic Income Fund, Inc. With locations throughout the South, Morgan Asset Management, an affiliate of Morgan Keegan & Co. Inc., manages more than $33 billion for institutions and high net worth individuals. Additional information about Morgan Asset Management, Morgan Keegan and Regions--a member of the S&P 100 Index--can be found at www.morgankeegan.com and www.regions.com.

For Additional Information:

Additional information about RMK Multi-Sector High Income Fund, Inc., including the fund's annual and semi-annual reports to stockholders, prospectus and statement of additional information may be obtained by visiting the fund's website at www.rmkfunds.com or by calling 800-564-2188.