Shareholders Approve Change of Name to Tuxis Corporation
and Changes to Investment Objectives and Policies
Bull & Bear Municipal Income Fund, Inc. announced that at a Special Meeting of
Stockholders held today, stockholders approved changing the Fund's name to Tuxis
Corporation, changing the Fund's investment objective and certain investment policies,
and changing the Fund's classification from a diversified investment company to a non-diversified investment company.
In connection with the Fund's name change to Tuxis Corporation, it is anticipated that the
Fund's symbol on the American Stock Exchange will be changed to TUX.
The Fund's investment objective now is to provide an attractive level of long term total
return on an after tax basis, consisting of current income and capital appreciation. To
achieve this new objective, the Fund will invest at least 50% of the value of its total assets
(except when maintaining a temporary defensive position) in municipal securities. The
Fund will invest the remainder of its total assets primarily in securities of selected growth
companies that, in the Investment Manager's opinion, based on its analysis of issuer
fundamentals, technical and economic trends, and other factors, will grow faster than the
economy as a whole and tax-advantaged investments, such as securities issued by real
estate companies and REITs.