TORONTO, ONTARIO--(Marketwire - Oct. 19, 2012) - (TSX:PIC.A)(TSX:PIC.PR.A) - Premium Income Corporation (the "Fund") is pleased to announce that it has filed a preliminary short form prospectus relating to an offering of rights ("Rights") to holders ("Shareholders") of its class A shares ("Class A Shares") and preferred shares ("Preferred Shares"). Each Shareholder of record on a date to be established prior to filing the final short form prospectus will receive one Right for each Class A or Preferred Share held.