18 May 2011

Greenwich Loan Income Fund Limited ("GLIF" or the "Company")

Directorate Change

Greenwich Loan Income Fund Limited is pleased to announce the appointment of Mr. James Carthew to the board of the Company as a Non - executive director.

Mr. James Henry Carthew (aged 44) is a British citizen who, until recently, was a fund manager and was responsible for managing Advance UK Trust PLC, an investment trust listed on the London Stock Exchange plc, and Advance Focus Fund Limited, a Guernsey domiciled investment company.  James was also on the board of Progressive Asset Management Ltd, an asset management group, which managed a number of UK and Emerging Market funds. .  James completed the Association of Certified Chartered Accountants examinations in 1991 and the IIMR exams in 1994.

Patrick Firth, Non-executive Chairman of GLIF said: "We are delighted to be welcoming James Carthew to the Board.   His expertise in the investment company arena as well as fund management will be a great asset as we continue to seek out opportunities for investment and optimising returns from our direct and indirect investments in the loan market."

James Carthew holds, or has held the following directorships within the five years prior to the date of this announcement:

Develocity Technologies Ltd, a software Company, was placed in a members voluntary liquidation and dissolved in December 2006 when James Carthew was on the board. There were no outstanding creditors.

James Carthew currently holds 175,000 Ordinary Shares in the Company which are held through a nominee of Alliance Trust Savings Limited.

GLIF confirms that there are no other matters requiring disclosure in relation to Rule 17 and Schedule 2(g) of the AIM Rules.

Contacts:

Geoffrey Miller
Greenwich Loan Income Fund Limited
+353 1 4433 466

Patrick Conroy
Greenwich Loan Income Fund Limited
+1 203 983 5282

Philip Secrett

Nominated Adviser

Grant Thornton UK LLP

+44 (0) 20 7383 5100

James Maxwell
Singer Capital Markets Limited
+44 (0) 20 3205 7650

Ed Gascoigne Pees

Financial Dynamics
+44 (0) 20 7269 7132