Regions Morgan Keegan Mutual Funds

The Regions Morgan Keegan fund complex offers mutual funds with a broad variety of investment objectives to meet the financial needs of all types of investors. With approximately $3.9 billion in assets, the fund complex includes five equity funds, one balanced fund, five bond funds, one tax-exempt bond fund, two money market funds and four closed-end funds.

Click on the following links to see an overview of each fund. You may also download each fund's most recent marketing flyer, prospectus, and annual and semi-annual reports to shareholders.

Regions Morgan Keegan Select Funds
Equity Funds		Bond Funds
	RMK Select Mid Cap Growth Fund RMK Select Growth Fund RMK Select Core Equity Fund RMK Select Mid Cap Value Fund RMK Select Value Fund		RMK Select High Income Fund^* RMK Select Intermediate Bond Fund RMK Select Fixed Income Fund RMK Select Limited Maturity Fixed Income Fund RMK Select Short Term Bond Fund *Closed to new investors.
Balanced Fund		Tax-Exempt Bond Fund
	RMK Select Balanced Fund		RMK Select Intermediate Tax Exempt Bond Fund
Money Market Funds
	RMK Select Treasury Money Market Fund RMK Select Money Market Fund

Regions Morgan Keegan Closed-End Funds

RMK Advantage Income Fund, Inc. (NYSE: RMA)
RMK High Income Fund, Inc. (NYSE: RMH)
RMK Multi-Sector High Income Fund, Inc. (NYSE: RHY)
RMK Strategic Income Fund, Inc. (NYSE: RSF)

July 13, 2007 Commentary from Annual Shareholders Meeting

Additional Information

Dividend Distributions
Capital Gain Distributions
2007 Supplemental Tax Information
RMK Proxy Voting
Corporate Governance

RMK Select Fund Features

Minimum investment of $1,000
IRA account minimum is $250
Additional investments in $50 increments
Three share classes to best suit your investment needs
Exchanges between Funds within the Select Family at no charge
Systematic investment and withdrawal plans available

Funds' Investment Advisor

Morgan Asset Management, Inc. is the investment advisory arm of Regions Financial Corporation (NYSE: RF) and serves as investment advisor to Regions Morgan Keegan Trust, RMK 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, Inc. manages more than $33 billion for institutions and high net worth individuals.

Funds' Distributor

Morgan Keegan & Company, Inc. serves as distributor of the RMK Select Funds. Morgan Keegan, a wholly owned subsidiary of Regions Financial Corporation (NYSE: RF) and an affiliate of the Advisor, is registered as a broker-dealer under the Securities Exchange Act of 1934, as amended, and is a member of the National Association of Securities Dealers, Inc. Morgan Keegan provides personalized investment services to its clients through more than 400 offices in 19 states.

To purchase shares, contact your Morgan Keegan financial advisor or call the Morgan Keegan Financial Services Center toll-free at 1-800-222-8866. Fund shares may not be held in, or transferred to, an account with any firm other than Morgan Keegan, Regions Morgan Keegan Trust or an Authorized Dealer.

Shares of RMK Select Funds, like shares of all mutual funds, are not bank deposits or obligations, are not guaranteed by any bank, and are not insured or guaranteed by the U.S. government, the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other government agency. Investment in mutual funds involves investment risk, including possible loss of principal.

An investor should consider each fund's investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information about each fund can be found in the funds' prospectus. To obtain a prospectus for RMK Select Short Term Bond Fund, RMK Select Intermediate Bond Fund, or RMK Select High Income Fund, call (toll-free) 1-800-564-2188. To obtain a prospectus for all other RMK Select Funds, call (toll-free) 1-877-757-7424.

Please read the prospectus carefully before investing.