Dividend Declaration and Updated Price & Yield Information
UBS Global Asset Management
New York, December 11, 2006 -- 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 $0.0525 per share of common stock. The dividend is payable on December 29, 2006 to common shareholders of record as of December 21, 2006. The ex-dividend date is December 19, 2006. 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.
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Characteristics as of November 30, 2006:*
Net Asset
Value $15.66
Market Price $13.79
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NAV Yield 4.02%
Market Yield 4.57%
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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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