RHY Rmk MS HI Income Fd

Morgan Keegan & Company, Inc. announced that it raised $405,000,000 in the initial public offering of common shares of the RMK Multi-Sector High Income Fund, Inc. (NYSE: RHY), a newly organized, diversified, closed-end management investment company. The common shares of the Fund have an initial public offering price of $15.00 and began trading on The New York Stock Exchange on January 19, 2006. The offering closed on January 24, 2006. The underwriters have an option to purchase up to 4,050,000 additional common shares from the Company to cover over-allotments, if any. Morgan Keegan & Company, Inc. managed the offering, with the following co-managers: Oppenheimer & Co.; RBC Capital Markets; Stifel, Nicolaus & Company, Incorporated; SunTrust Robinson Humphrey; BB&T Capital Markets, A Division of Scott & Stringfellow, Inc.; Stephens Inc., and Wedbush Morgan Securities. A copy of the final prospectus relating to these securities may be obtained from the offices of Morgan Keegan & Company, Inc., Fifty N. Front Street, Memphis, TN 38103; (800) 564-2113. About Morgan Asset Management Morgan Asset Management, Inc. is the investment advisory arm of the new 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 $17 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.