Dividend Declaration and Portfolio Statistics
UBS Global Asset Management
New York, October 09, 2006 -- Insured Municipal Income Fund Inc. (PIF), 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 $0.05 per share of common stock. The dividend is payable on October 31, 2006 to common shareholders of record as of October 19, 2006. The ex-dividend date is October 17, 2006. Under normal circumstances, the Fund invests at least 80% of its net assets in insured municipal obligations, the income from which is exempt from regular federal income tax.
Portfolio statistics as of September 30, 2006(1)
Top ten states Percentage of total portfolio assets
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California 26.4%
New York 13.4
Florida 7.4
Texas 7.0
South Carolina 6.5
Illinois 5.9
New Jersey 5.0
Georgia 4.7
Nevada 4.3
Pennsylvania 3.2
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Total 83.8%
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Yields(2)
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NAV yield 4.00%
Market yield 4.63%
Top five sectors
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Water 20.8%
Power 14.5
Airport 12.1
Hospital 9.1
Transportation 7.3
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Total 63.8%
Credit quality(3)
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AAA 73.7%
AA 8.7
A 5.6
BBB 1.5
A1 10.5
Nonrated 0.0
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Total 100.0%
Characteristics
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Net asset value(2) $15.01
Market price(2) $12.97
Weighted average maturity 15.04 years
Weighted average duration 4.86 years
Weighted average coupon 5.08%
Subject to Alternative Minimum Tax (AMT) 14.75%
Leverage(4) 40.08%
Price to date maturity/call distribution
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2006 10.5%
2007 0.3
2008 0.3
2009 0.6
2010 1.9
2011-2016 12.7
2017-2036 73.7
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Total 100.0%
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(1) The Fund is actively managed, and its portfolio composition will vary over time.
(2) 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.
(3) Credit quality ratings shown are based on those assigned by Standard & Poor's ("S&P"), a division of The McGraw-Hill Companies, Inc. S&P is an independent rating agency.
(4) As a percentage of total assets. Leverage may vary.
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