Greenwich Loan Income Fund Limited

NAV Update for the quarter ended 30 September 2010

Greenwich Loan Income Fund Limited ("GLIF" or "the Company") announces that as at 30 September 2010, its preliminary unaudited net asset value (NAV) per share was 77.6p.  This compares to the NAV of 81.1p per share as at 30 June 2010.

The weighted average market bid for the Company's portfolio at the quarter end was 91.8% of par and for the liabilities 79.9%. This compares to last quarter's figures of 90.4% of par and 78.6% respectively. The net positive move in the value of GLIF's assets and liabilities was offset by the US dollar weakening against the pound, resulting in a decrease in the sterling NAV per share.

As previously described to shareholders, under International Financial Reporting Standards (IFRS), the consolidated results of operations for the Company include the impact of carrying its investments and its liabilities at fair value. Shareholders should be aware that the Company's realisation of the full NAV is unlikely.  The NAV, as calculated in accordance with IFRS, reflects the theoretical fair value of the liabilities of the CLO but, because the market is rather illiquid, it may be difficult for the Company to acquire any or a significant portion of those liabilities.

The other two values customarily calculated to provide further clarity as to the dynamics within the value of the business are as follows:

- the value based upon assets at market value and liabilities at par was  41.1p per share as at 30 September 2010, compared to 40.4p per share as at 30 June 2010.

- the value based upon CLO assets as calculated for interest diversion purposes, remaining assets at market, and liabilities at par was 50.2p per share as at 30 September 2010, compared to 53.6p as at 30 June 2010.

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 Corporate Finance

+44 207 383 5100

James Maxwell

Singer Capital Markets Limited

+44 (0) 20 3205 7622

Ed Gascoigne Pees

Financial Dynamics

+44 (0) 207 269 7132