Dividend Declaration

RNS Number:1375K
Premier Pacific Income Fund PLC
16 April 2003

PREMIER PACIFIC INCOME FUND PLC



16 April 2003



Dividend Declaration



The interim report shows that the company has paid out slightly more than it
earned in the first six months of the financial year with reserves of #182,955
being used to meet the dividend payments.  Part of this shortfall is accounted
for by the change in accounting policy whereby 25% of loan interest costs and
management expenses are now charged against income.  However even if there had
not been a change in accounting policy, there would still have been a shortfall
of #70,050.



The board has given further consideration to its dividend policy since the
interim results and has decided that it would be more appropriate to more
closely match the dividend to the company's current period revenue rather than
utilize reserves. Accordingly, the board has today declared a dividend of 0.7p
for the period ended 31st March 2003, payable on 19th May 2003 to shareholders
on the register on 25th April 2003.



Enquiries:



Corporate Compliance & Secretarial Services Limited:



Alan Aylward                         + 353 1476 8300






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