Insight Select Income Fund Announces Voting Results of Special Meeting of Shareholders

Insight Select Income Fund (NYSE: INSI) (the "Fund") today announced the results of the Fund's Special Meeting of Shareholders held on November 5, 2020, and adjourned until November 24, 2020.

Results of the Special Meeting of Shareholders

At the meeting, shareholders approved all of the proposals presented including (i) an amendment to the investment advisory agreement with Insight North America LLC (the "Adviser") to compensate the Adviser based on managed assets; (ii) revisions to the Fund's fundamental investment policy relating to borrowing money to permit the Fund to borrow up to the limits of the Investment Company Act of 1940; (iii) and the revision or elimination of the Fund's other fundamental policies as set forth in the proxy statement sent to shareholder of record on September 10, 2020. Accordingly, pursuant to the Fund's amended fundamental investment policies, the Fund will not:

1. Borrow money, except to the extent permitted under the 1940 Act, as such may be interpreted or modified by regulatory authorities having jurisdiction, from time to time.
2. Issue senior securities, except to the extent permitted under the 1940 Act, as such may be interpreted or modified by regulatory authorities having jurisdiction, from time to time.
3. Act as an underwriter of securities within the meaning of the Securities Act of 1933, as amended, except to the extent permitted under the 1940 Act, as such may be interpreted or modified by regulatory authorities having jurisdiction, from time to time.
4. "Concentrate" its investments in an industry, except to the extent permitted under the 1940 Act, as such may be interpreted or modified by regulatory authorities having jurisdiction, from time to time.
5. Purchase or sell real estate, except to the extent permitted under the 1940 Act, as such may be interpreted or modified by regulatory authorities having jurisdiction, from time to time.
6. Purchase or sell commodities, except to the extent permitted under the 1940 Act, as such may be interpreted or modified by regulatory authorities having jurisdiction, from time to time.
7. Make loans to other persons, except to the extent permitted under the 1940 Act, as such may be interpreted or modified by regulatory authorities having jurisdiction, from time to time.

Change in Investment Strategy with respect to Leverage

With the changes to the Fund's fundamental investment policies approved by the Fund's shareholders, the Fund may use leverage to the extent permitted by the 1940 Act. The Fund is permitted to obtain leverage using any form or combination of financial leverage instruments, including through funds borrowed from banks or other financial institutions (i.e., a credit facility), margin facilities, the issuance of preferred shares or notes and leverage generated by certain other transactions. As disclosed in the Proxy Statement, the Adviser has proposed establishing a credit facility secured by the Fund's assets from which the Fund could borrow money to be invested pursuant to the Fund's existing investment strategy. The Fund may use leverage opportunistically and may use different types, combinations or amounts of leverage over time, based on the Adviser's views concerning market conditions and investment opportunities. Since the investment advisory fee is calculated based on the Fund's managed assets (i.e., total assets of the Fund, less its liabilities other than Fund liabilities incurred for investment purposes), any leverage employed by the Fund will result in an increase in the investment advisory fee payable to the Adviser.

Leverage will magnify investment, market and certain other risks. Leverage involves risks including: the likelihood of greater volatility of net asset value and market price of the shares than a comparable portfolio without leverage; the risk that fluctuations in interest rates on borrowings and short-term debt or senior securities that the Fund may pay will reduce the return to common shares or will result in fluctuations in the dividends paid on the common shares; the effect of leverage in a declining market, which is likely to cause a greater decline in the net asset value of the common shares than if the Fund were not leveraged, which may result in a greater decline in the market price of the common shares; and when the Fund uses leverage, the investment advisory fee payable by the Fund to the Adviser will be higher than if the Fund did not use leverage. Leverage increases a fund's losses when the value of its investments declines. For example, leverage would have amplified the volatility of the Fund's returns during the market volatility caused by the recent onset of the COVID-19 pandemic.

The Fund's strategies relating to its use of leverage may not be successful, and the Fund's use of leverage will cause the Fund's NAV to be more volatile than it would otherwise be. There can be no guarantee that the Fund will leverage its assets or, to the extent the Fund does utilize leverage, what percentage of its assets such leverage will represent.

The Fund is a diversified closed-end management investment company whose investment objective is to seek a high rate of return, primarily from interest income and trading activity, from a portfolio principally consisting of debt securities. The Fund will also seek capital appreciation principally by purchasing debt securities at prices that the Adviser believes are below their intrinsic value. The Fund will also look to benefit from trading securities to optimize the risk adjusted yields in the Fund. Insight North America LLC, the Fund's investment adviser, provides fixed income asset management to a variety of institutional clients including corporations, governmental entities, employee benefit plans, private funds and registered investment companies.

An investor should consider a Fund's investment objectives, risks, charges and expenses carefully before investing.