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USLIFE INCOME FUND, INC. REPORTS OPERATING RESULTS FOR THE SIX MONTHS ENDED DEC. 31, 1993; QUARTERLY DIVIDEND DECLARED

 NEW YORK, Jan. 12 /PRNewswire/ -- USLIFE Income Fund, Inc. (NYSE: UIF), a closed-end investment company, reported today that net investment income amounted to $2,319,436 or 42 cents per share for the six months ended Dec. 31, 1993 as compared to $2,477,153 or 46 cents per share for the same period in the preceding year. Dividends totaling 46 cents were paid during the six-month period.
 For the six months ended Dec. 31, 1993, net realized gain from securities transactions amounted to $1,271,078. There was a decrease in unrealized gain on investment securities of $522,387 for the same period.
 The net assets of USLIFE Income Fund totaled $57,960,757 at Dec. 31, 1993 as compared to $53,377,622 on Dec. 31, 1992. Net asset value per share at Dec. 31, 1993 was $10.38 compared to $9.75 on Dec. 31, 1992.
 BOARD DECLARES QUARTERLY DIVIDEND
 The Board of Directors of USLIFE Income Fund, Inc. declared a quarterly dividend of 21 cents per share from net investment income. The dividend is payable on March 1, 1994 to shareholders of record on Feb. 15, 1994.
 USLIFE Income Fund, Inc. is managed by USLIFE Advisers, Inc., a wholly owned subsidiary of USLIFE Corporation (NYSE: USH).
 USLIFE INCOME FUND, INC.
 Condensed Comparative Results Of Operations
 Six months ended Dec. 31 1993 1992
 Interest income $ 2,659,361 $ 2,810,708
 Expenses $ 339,925 $ 333,555
 Net Investment Income $ 2,319,436 $ 2,477,153
 Net Investment Income Per Share $.42 $.46
 Other Pertinent Data:
 Net Realized Gain
 From Security Transactions:
 Amount $1,271,078 $141,207
 Per share $.23 $.02
 Unrealized gain (loss)
 on investment securities:
 Amount $(522,387) $342,017
 Per share $(.09) $.06
 Net assets
 Total $57,960,757 $53,377,622
 Per share $10.38 $9.75
 Shares outstanding at Dec. 31 5,584,984 5,472,136
 -0- 1/12/94
 /CONTACT: Richard G. Hohn, vice president and secretary of USLIFE Income Fund, 212-709-6415/
 (UIF USH)


CO: USLIFE Income Fund, Inc.; USLIFE Advisers, Inc. ST: New York IN: INS FIN SU: ERN DIV

SH-WB -- NY045 -- 1024 01/12/94 14:05 EST
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Publication:PR Newswire
Date:Jan 12, 1994
Words:360
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