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RAC INCOME FUND DECLARES MAY DIVIDEND

 RAC INCOME FUND DECLARES MAY DIVIDEND
 COLUMBIA, Md., May 1 /PRNewswire/ -- RAC Income Fund, Inc.


(NYSE: RMF) today announced a monthly dividend for May of $0.105 per share to holders of record on May 15, 1992, payable on May 29.
 The ex-dividend trade date is May 11, 1992.
 The fund's net asset value per share as of April 23, 1992, was $11.39.
 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- 5/1/92
 /CONTACT: Sylvia Gillan of RAC Income Fund, 410-730-6851/
 (RMF) CO: RAC Income Fund, Inc. ST: Maryland IN: FIN SU: DIV


MP-MK -- PH007 -- 5338 05/01/92 09:26 EDT
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Publication:PR Newswire
Date:May 1, 1992
Words:173
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