Declares Dividend, Updated Price & Yield Information
UBS Global Asset Management
New York, June 13, 2005 -- Investment Grade Municipal Income Fund Inc. (PPM), a closed-end management investment company normally investing substantially all of its assets in a diversified portfolio of tax-exempt municipal obligations, with common and preferred shares outstanding, today announced that the Fund's Board of Directors has declared a dividend from net investment income of $0.0625 per share of common stock. The distribution is payable on June 30, 2005 to common shareholders of record as of June 23, 2005. The ex-dividend date is June 21, 2005. Under normal circumstances, the Fund invests at least 80% of its net assets in investment grade municipal obligations, the income from which is exempt from regular federal income tax.
Characteristics as of May 31, 2005:*
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Net Asset Value $15.87
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Market Price $13.61
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NAV Yield 4.73%
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Market Yield 5.51%
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* Net asset value (NAV), market price and yields will fluctuate.
NAV yield is calculated by multiplying the current month's dividend by
12 and dividing by the month-end net asset value. Market yield is
calculated by multiplying the current month's dividend by 12 and
dividing by the month-end market price.
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