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USLIFE INCOME FUND, INC. REPORTS OPERATING RESULTS FOR THE FIRST QUARTER ENDED SEPT. 30, 1993

 NEW YORK, Oct. 13 /PRNewswire/ -- USLIFE Income Fund, Inc. (NYSE: UIF), a closed-end investment company, reported today that net investment income during the first fiscal quarter ended Sept. 30, 1993 amounted to $1,196,123 compared to $1,240,141 for the quarter ended Sept. 30, 1992. Earnings per share for the first quarter totaled $.22 compared to $.23 for the same period last year.
 A quarterly dividend totaling $.22 per share was paid during the three-month period.
 Net assets of USLIFE Income Fund totaled $58,330,072 at Sept. 30, 1993 as compared to $53,835,021 at Sept. 30, 1992. The net asset value per share was $10.50 at Sept. 30, 1993 versus $9.89 at Sept. 30, 1992.
 USLIFE Income Fund is managed by USLIFE Advisers, Inc., a wholly owned subsidiary of USLIFE Corporation (NYSE: USH).
 Note: Condensed comparative results for the three months ended Sept. 30, 1993 and 1992 follow.
 USLIFE INCOME FUND, INC.
 Condensed Comparative Results of Operations
 Three months ended Sept. 30, 1993 1992
 Interest income $ 1,368,041 $ 1,407,876
 Expenses 171,918 167,735
 Net investment income 1,196,123 1,240,141
 Net investment income per share $.22 $.23
 Other pertinent data:
 Net realized gains from
 security transactions:
 Amount $ 612,280 $ 155,868
 Per share $.11 $.03
 Unrealized gains on
 investment securities:
 Amount $ 610,618 $ 1,055,338
 Per share $.11 $.19
 Net assets
 Total $58,330,072 $53,835,021
 Per share $10.50 $9.89
 Shares outstanding at Sept. 30 5,554,465 5,442,505
 -0- 10/13/93
 /CONTACT: Richard G. Hohn, vice president and secretary of USLIFE Income Fund, 212-709-6415/
 (UIF USH)


CO: USLIFE Income Fund, Inc. ST: New York IN: INS SU: ERN

LG-MP -- NY070 -- 1756 10/13/93 14:15 EDT
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Publication:PR Newswire
Date:Oct 13, 1993
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