RSF RiverNorth Capital and Income Fund Trading

RMK Strategic Income Fund, Inc. (the "Fund") (NYSE: RSF) today announced that on October 16, 2008 the Fund received a letter from the New York Stock Exchange ("NYSE") advising it that the Fund is not in compliance with the NYSE's continued listing standard related to maintaining a consecutive thirty day average closing stock price of over $1.00 per share.

On October 16, 2008, the Fund's thirty day average closing stock price was $0.92. Under NYSE rules, the Fund has six months from the date of the NYSE notice to cure the average price deficiency, during which time the Fund's shares of common stock will continue to be listed and traded on the NYSE. If these conditions are not met during the six-month cure period, NYSE Regulation indicated that it will commence suspension and delisting procedures. On October 17, 2008, the Fund notified the NYSE within the required 10 business day period following the receipt of the notification that the Fund intends to cure the price deficiency.

Forward-Looking Information

This news release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements that are based on various assumptions (some of which are beyond our control) may be identified by reference to a future period or periods or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "anticipate," "continue," "should," "intend," or similar terms or variations on those terms or the negative of those terms. Although we believe that the expectations contained in any forward-looking statement are based on reasonable assumptions, we can give no assurance that our expectations will be attained. We do not undertake, and specifically disclaim any obligation, to publicly release any update or supplement to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

The Fund uses its web site as a channel of distribution of material company information. Financial and other material information regarding the Fund is routinely posted on and accessible at http://www.hyperionbrookfield.com/strategies/retail_funds.htm.

RMK Strategic Income Fund, Inc. is managed by Hyperion Brookfield Asset Management, Inc, a registered investment advisor located in New York City. The firm was founded in 1989 to provide relative value driven fixed income investment strategies, such as core fixed income, high yield, and specialized MBS. Hyperion Brookfield manages approximately $19 billion for a client base including pension funds, financial institutions, mutual funds, insurance companies and foundations. Hyperion Brookfield is a subsidiary of Brookfield Asset Management, Inc., a global asset manager focused on property, power and other infrastructure assets with approximately US$95 billion of assets under management. For more information, please visit our website at www.hyperionbrookfield.com.

Contacts: RMK Strategic Income Fund, Inc. Three World Financial Center 200 Vesey Street, 10th Floor New York, NY, 10281-1010 1-800 HYPERION