Morgan Keegan & Company, Inc. Raises $405,000,000 in Initial Public Offering of RMK Multi-Sector High Income Fund, Inc.

Morgan Keegan & Company, Inc. announced that it raised
$405,000,000 in the initial public offering of common shares of the
RMK Multi-Sector High Income Fund, Inc. (NYSE: RHY), a newly
organized, diversified, closed-end management investment company. The
common shares of the Fund have an initial public offering price of
$15.00 and began trading on The New York Stock Exchange on January 19,
2006. The offering closed on January 24, 2006.
   The underwriters have an option to purchase up to 4,050,000
additional common shares from the Company to cover over-allotments, if
any.
   Morgan Keegan & Company, Inc. managed the offering, with the
following co-managers: Oppenheimer & Co.; RBC Capital Markets; Stifel,
Nicolaus & Company, Incorporated; SunTrust Robinson Humphrey; BB&T
Capital Markets, A Division of Scott & Stringfellow, Inc.; Stephens
Inc., and Wedbush Morgan Securities.
   A copy of the final prospectus relating to these securities may be
obtained from the offices of Morgan Keegan & Company, Inc., Fifty N.
Front Street, Memphis, TN 38103; [phone].

   About Morgan Asset Management

   Morgan Asset Management, Inc. is the investment advisory arm of
the new Regions Financial Corporation (NYSE: RF). Morgan Asset
Management is the investment advisor to Regions Morgan Keegan Trust,
Regions Morgan Keegan Select Funds, RMK Advantage Income Fund, Inc.,
RMK High Income Fund, Inc., RMK Multi-Sector High Income Fund, Inc.
and RMK Strategic Income Fund, Inc. With locations throughout the
South, Morgan Asset Management, an affiliate of Morgan Keegan & Co.
Inc., manages more than $17 billion for institutions and high net
worth individuals. Additional information about Morgan Asset
Management, Morgan Keegan and Regions - a member of both the Forbes
and Fortune 500 and one of the nation's Top 15 financial services
providers - can be found at www.morgankeegan.com and www.regions.com.