RHY Rmk MS HI Income Fd

The Board of Directors of RMK Multi-Sector High Income Fund, Inc. (NYSE: RHY) declared three monthly dividends of $0.12 per share. Monthly dividends will be payable on March 22, 2006, April 21, 2006 and May 22, 2006 to shareholders of record on March 16, April 17 and May 16, respectively. Ex-dividend dates are March 14, April 12 and May 12. RMK Multi-Sector High 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 $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.