Premium Income Corporation Announces Semi-Annual Results

Premium Income Corporation  (TSX:PIC.A)(TSX:PIC.PR.A) today announces results of
operations for the six months ended April 30, 2013. Net income for the period
amounted to $2.0 million or $0.21 per Class A share. Net assets totaled $20.33
per Unit after distributions of $0.43 per Preferred share and $0.41 per Class A
share were paid to respective shareholders. Each Unit consists of one Class A
share and one Preferred Share. 


Premium Income Corporation is a mutual fund corporation, which invests in the
common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial
Bank of Commerce, Royal Bank of Canada, and the Toronto Dominion Bank. The Fund
employs a proprietary investment strategy, Strathbridge Selective Overwriting,
to enhance the income generated by the Portfolio and to reduce volatility. In
addition, the Fund may write cash covered put options in respect of securities
in which it is permitted to invest. 




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Selected Financial Information: ($ Millions)                     
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Statement of Operations                                          
For the six months ended April 30, 2013 (Unaudited)              
                                                                 
Revenue                                           $          4.2 
Expenses                                                    (1.4)
Preferred Share Distributions                               (4.2)
                                                  -------------- 
                                                                 
Net Investment Loss                               $         (1.4)
                                                  -------------- 
                                                                 
Net Gain on Investments                                      3.4 
                                                  -------------- 
                                                                 
Net Income for the Period                         $          2.0 
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For further information, please contact Investor Relations at 416.681.3966, toll
free at 1.800.725.7172 or visit www.strathbridge.com.


Commissions, trailing commissions, management fees and expenses all may be
associated with investment funds. Please read the prospectus before investing.
Investment funds are not guaranteed, their values change frequently and past
performance may not be repeated.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Strathbridge Asset Management Inc.
Aaron Ho
Vice-President, Finance
416.681.3966; 1.800.725.7172


Strathbridge Asset Management Inc.
121 King Street West, Suite 2600
Toronto, Ontario, M5H 3T9
416.681.3966; 1.800.725.7172
[e-mail]
www.strathbridge.com