NEW YORK--(BUSINESS WIRE)-- Stone Harbor Emerging Markets Income Fund (the Fund), which is traded on the New York Stock Exchange under the symbol EDF, announced the declaration of monthly distributions of $0.18 per common share, payable on the dates noted below. Based of the Funds current share price of $22.76 and net asset value per share of $22.28 (as of close on January 17, 2012), the distributions represent an annualized distribution rate of 9.49% and 9.69% respectively.

The following dates apply to the distributions declared:

Ex-Distribution Date: February 9, 2012

Record Date: February 13, 2012

Payable Date: February 23, 2012

Ex-Distribution Date: March 15, 2012

Record Date: March 19, 2012

Payable Date: March 29, 2012

Ex-Distribution Date: April 12, 2012

Record Date: April 16, 2012

Payable Date: April 26, 2012

This press release is not for tax reporting purposes but is being provided to announce the amount of the Funds distributions that have been declared by the Board of Directors. In early 2013, after definitive information is available, the Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholders tax return (e.g., ordinary income, long-term capital gain or return of capital).

The Fund is a non-diversified, closed-end management investment company that is managed by Stone Harbor Investment Partners LP (Stone Harbor). The Funds primary investment objective is to maximize total return, which consists of income on its investments and capital appreciation. There is no assurance that the Fund will achieve its investment objective.

The Fund seeks to achieve its investment objective by investing at least 80% of its net assets (plus borrowings for investment purposes) in emerging markets securities (the 80% policy), which include fixed income securities and other instruments, including derivatives, that are economically tied to emerging market countries, that are denominated in the predominant currency of the local market of an emerging market country or whose performance is linked to those countries markets, currencies, economies or ability to repay loans. A security or instrument is economically tied to an emerging market country if it is principally traded on the countrys securities markets or if the issuer is organized or principally operates in the country, derives a majority of its income from its operations within the country or has a majority of its assets within the country.

Stone Harbor Investment Partners LP is a global institutional fixed-income investment manager specializing in credit and asset allocation strategies. The firm manages institutional clients assets in a range of investment products: emerging markets debt, high yield, bank loans, as well as multi-strategy products, such as global high yield and core plus. The firms investment strategies are based on fundamental insights, derived from a combination of proprietary research and the in-depth knowledge and specialized experience of the firms team. Founded in 2006 and based in New York, Stone Harbor employs over 100 people across its headquarters and offices in London and Singapore. Stone Harbor Investment Partners LP is an employee-owned partnership with $39.6 billion in assets under management as of December 31, 2011. For more information, please visit Stone Harbors website at www.shiplp.com.

For more complete information, please call 877.206.0791 (toll-free) or visit the Funds website - www.shiplpcef.com.

The Stone Harbor Emerging Markets Income Fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Since its initial public offering, the Fund has traded on the New York Stock Exchange under the symbol EDF. Investors wishing to buy or sell shares need to place orders through an intermediary or broker.

Stone Harbor Emerging Markets Income Fund
John Dispigno, 1-877-206-0791

Source: Stone Harbor Emerging Markets Income Fund

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