RMK Funds Announce Results of Joint Shareholder Meetings

RMK Advantage Income Fund, Inc. (NYSE: RMA), RMK High Income Fund, Inc. (NYSE: RMH), RMK Multi-Sector High Income Fund, Inc. (NYSE: RHY) and RMK Strategic Income Fund, Inc. (NYSE: RSF) (the "Funds”) announced the results of their Joint Special and Annual Shareholder Meetings held today. At the Joint Special Meeting, shareholders of the Funds approved new investment advisory agreements with Hyperion Brookfield Asset Management, Inc. ("HBAM”) which will serve as the new investment adviser of the Funds. Shareholders of these Funds also elected new Boards of Directors at the Joint Annual Meeting. At meetings also held today, shareholders of Regions Morgan Keegan Select Short Term Bond Fund, Regions Morgan Keegan Select Intermediate Bond Fund and Regions Morgan Keegan Select High Income Fund, three open-end funds also managed by Morgan Asset Management, Inc., the Funds’ current investment adviser, also approved a new investment advisory agreement with HBAM and elected a new Board of Directors. As described in the Funds’ proxy statement, the new advisory agreements with HBAM will become effective upon the successful consummation of the transaction between Morgan Asset Management and HBAM. After the transaction is completed, investor relations services for the Funds will be provided through Hyperion Brookfield Asset Management which may be contacted by phone at 1-800-497-3746 or via email at funds@hyperionbrookfield.com. Additional information about the new investment advisory agreements and election of the new Boards of Directors of the Funds is contained in the Funds’ proxy statement, which is available for viewing at www.rmkfunds.com. Historical information, including regulatory filings, news releases and financial reports will be accessible through www.rmkfunds.com until October 31, 2008. About Hyperion Brookfield Asset Management, Inc.: Formed as a registered investment adviser in 1989, HBAM manages more than $22 billion in fixed income assets for institutional and retail investors, such as pension funds, financial institutions, insurance companies, and foundations. HBAM’s expertise is centered on providing relative value driven fixed income investment strategies, such as core fixed income, high yield, and specialized mortgage-backed securities and asset-backed securities markets. HBAM currently serves as an independent valuation consultant for the Funds. About Morgan Asset Management: Morgan Asset Management, Inc. is the investment advisory arm of Regions Financial Corporation (NYSE: RF). Morgan Asset Management is the investment adviser to Regions Morgan Keegan Trust and Regions Morgan Keegan Select Funds. With locations throughout the South, Morgan Asset Management, an affiliate of Morgan Keegan & Co. Inc., manages more than $28 billion for institutions and high net worth individuals. Additional information about Morgan Asset Management, Morgan Keegan and Regions—a member of the S&P 100 Index—can be found at www.morgankeegan.com and www.regions.com.