Montgomery Street Income Securities Announces Revised Net Asset Value for October 21, 2004

Montgomery Street Income Securities Announces Revised Net Asset
Value for October 21, 2004 


SAN FRANCISCO, Oct. 22  /PRNewswire-FirstCall/ -- The Fund's net asset value
(NAV), as originally reported did not reflect the dividend distribution of
$0.31 per share that was declared on October 15, 2004 and will be paid on
October 29, 2004 to stockholders of record as of October 25, 2004.  The Fund's
correct NAV as of October 21, 2004 was $19.73.

The Fund is a closed-end diversified management investment company whose
primary investment objective is to seek as high a level of current income as is
consistent with prudent investment risks, from a diversified portfolio
primarily of debt securities.  The Fund's shares are traded on the New York
Stock Exchange under the symbol MTS. Yields will fluctuate in response to
changing interest rates and may be affected by the prepayment of mortgage-
backed securities. The Fund's investments in foreign securities are subject to
currency fluctuation, political climate and economic changes, and risk of loss
of principal and interest. All of these factors may result in greater share
price volatility.

Not FDIC Insured.  Not Guaranteed. May Lose Value.

Scudder Investments is part of Deutsche Asset Management which is the marketing
name in the US for the asset management activities of Deutsche Bank AG,
Deutsche Bank Trust Company Americas, Deutsche Asset Management Inc., Deutsche
Asset Management Investment Services Ltd., Deutsche Investment Management
Americas Inc. and Scudder Trust Company. 

DATASOURCE: Montgomery Street Income Securities



CONTACT:  Media - Judith Inosanto [phone], Investors - Jon Diorio

1-800-349-4281, both for Montgomery Street Income Securities

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