TORONTO, ONTARIO--(Marketwire - March 16, 2011) - Premium Income Corporation (TSX:PIC.A)(TSX:PIC.PR.A) (the "Fund") is pleased to announce that it has filed a preliminary short form prospectus relating to an offering of warrants ("Warrants") to holders ("Shareholders") of its class A shares ("Class A Shares"). Each Shareholder of record on a date to be established prior to filing the final short form prospectus will receive one Warrant for each Class A Share held.