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RMK Strategic Income Fund Declares $0.15 Per Share Dividend

MEMPHIS, Tenn. (August 21, 2006) – The Board of Directors of RMK Strategic Income Fund, Inc. (NYSE: RSF) today declared three monthly dividends of $0.15 per share.

Monthly dividends will be payable on September 20, 2006, October 19, 2006 and November 21, 2006 to stockholders of record on September 14, October 12 and November 15, respectively. Ex-dividend dates are September 12, October 10 and November 13.

RMK Strategic 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.

About Morgan Asset Management
Morgan Asset Management, Inc. is the investment advisory arm of 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 $16 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.

Contact:
Morgan Keegan & Company, Inc.
Kathy Ridley, 901/529-5449
Kathy.Ridley@morgankeegan.com