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August 31, 1998
News Release
For Immediate Release

CUSIP 901144105

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.



Press releases from August 31, 1998 to present


Principal Office:   3814 Route 44, Millbrook, NY 12545   |  Tel: (845) 677-2700   |  Fax: (845) 677-2800
Connecticut Office:   6 Heritage Park Road, Clinton, CT 06413   |  Tel: (860) 669-9302
Tuxis Self Storage,  where "Security is Our First Priority"

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