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RMK Advantage Income Fund Announces Annual Meeting of Stockholders

April 4, 2006

MEMPHIS, Tenn. (April 4, 2006) – The Board of Directors of RMK Advantage Income Fund, Inc. (NYSE: RMA) voted to hold the fund’s annual stockholders’ meeting Friday, July 14, 2006 at 11:00 a.m. CT.

The meeting will be held at Fifty North Front Street, 21st Floor, Memphis, Tennessee 38103. Stockholders of record on April 28, 2006 will receive proxy materials to vote on the election of three Class III Directors of the Fund.

RMK Advantage Income Fund, Inc. is a diversified, closed-end investment company seeking a high level of current income with capital appreciation as a secondary investment objective.

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Joan Owen
Morgan Keegan & Co., Inc.
901/529-5383