MEMPHIS, Tenn.--(BUSINESS WIRE)--February 15, 2008 The Board of Directors of RMK Advantage Income Fund, Inc. (NYSE: RMA) today declared three monthly distributions of $0.08 per share. Monthly distributions will be payable on March 17, 2008, April 17, 2008 and May 19, 2008 to stockholders of record on March 10, April 10 and May 12, respectively. Ex-dividend dates are March 6, April 8 and May 8.

RMK Advantage 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, Morgan Keegan Select Fund, Inc., 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 $30 billion for institutions and high net worth individuals. Additional information about Morgan Asset Management, Morgan Keegan and Regions--a member of the S&P 100 Index--can be found at www.morgankeegan.com and www.regions.com.

For Additional Information:

Additional information about RMK Advantage Income Fund, Inc., including the fund's annual and semi-annual reports to stockholders, prospectus and statement of additional information, may be obtained by visiting the fund's website at www.rmkfunds.com or by calling 800-564-2188.

CONTACT: Morgan Keegan Media Relations: Kathy Ridley, 901-529-5449 Kathy.ridley@morgankeegan.com or Eric Bran, 901-524-4114 Eric.bran@morgankeegan.com

Last Updated: February 15, 2008 17:09 EST