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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000902561-03-000236.txt : 20030430
<SEC-HEADER>0000902561-03-000236.hdr.sgml : 20030430
<ACCEPTANCE-DATETIME>20030430132127
ACCESSION NUMBER:		0000902561-03-000236
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20030430
EFFECTIVENESS DATE:		20030430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DNP SELECT INCOME FUND INC
		CENTRAL INDEX KEY:			0000806628
		IRS NUMBER:				363480989
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-04915
		FILM NUMBER:		03671833

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 32760
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40232
		BUSINESS PHONE:		3123685510

	MAIL ADDRESS:	
		STREET 1:		PO BOX 32760
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40232

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DUFF & PHELPS SELECTED UTILITIES INC
		DATE OF NAME CHANGE:	19910429
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>form14a.txt
<TEXT>

                            SCHEDULE 14A INFORMATION


           Proxy Statement Pursuant to Section 14(a) of the Securities
                      Exchange Act of 1934 (Amendment No. )

Filed by the Registrant [X]


Filed by a Party other than the Registrant [_]


Check the appropriate box:


[_]   Preliminary Proxy Statement     [_]  CONFIDENTIAL, FOR USE OF THE
                                           COMMISSION ONLY (AS PERMITTED BY
                                           RULE 14A-6(E)(2))

[_]   Definitive Proxy Statement

[X]   Definitive Additional Materials

[_]   Soliciting Material Pursuant to Section 240.14a-11(c) or Section
      240.14a-12


                           DNP SELECT INCOME FUND INC.
- --------------------------------------------------------------------------------
                (Name of Registrant as Specified In Its Charter)



- --------------------------------------------------------------------------------
    (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)


Payment of Filing Fee (Check the appropriate box):


[X]  No fee required

[_]  Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.


     (1)  Title of each class of securities to which transaction applies:

     -------------------------------------------------------------------------



     (2)  Aggregate number of securities to which transaction applies:

     -------------------------------------------------------------------------



     (3)  Per unit price or other underlying value of transaction computed
          pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the
          filing fee is calculated and state how it was determined):

     -------------------------------------------------------------------------



     (4)  Proposed maximum aggregate value of transaction:

     -------------------------------------------------------------------------


     (5)  Total fee paid:

     -------------------------------------------------------------------------


                                      1
<PAGE>

[_]   Fee paid previously with preliminary materials.

[_]   Check box if any part of the fee is offset as provided by Exchange Act
      Rule 0-11(a)(2) and identify the filing for which the offsetting fee was
      paid previously. Identify the previous filing by registration statement
      number, or the Form or Schedule and the date of its filing.

     (1)  Amount Previously Paid:

     -------------------------------------------------------------------------



     (2)  Form, Schedule or Registration Statement No.:

     -------------------------------------------------------------------------



     (3)  Filing Party:

     -------------------------------------------------------------------------



     (4)  Date Filed:

     -------------------------------------------------------------------------




                                      2
<PAGE>


FOR IMMEDIATE RELEASE

Contact: T. Brooks Beittel, (312) 630-4692


           DNP SELECT INCOME FUND INC. RECEIVES FAVORABLE IRS RULING

         CHICAGO, April 30, 2003 - DNP Select Income Fund Inc. (NYSE: DNP)
announced today that the Internal Revenue Service has issued a favorable private
letter ruling in response to the Fund's recent request. The private letter
ruling confirms the Fund's ability to continue to designate dividends paid on
the Fund's Remarketed Preferred Shares as eligible for the "dividends received
deduction" for federal income tax purposes following a proposed amendment to the
Fund's charter.

         As described in the Fund's Proxy Statement dated March 21, 2003, the
Fund had requested the private letter ruling from the IRS regarding the tax
treatment of the Fund's Preferred Shares in light of a proposed amendment to the
provisions of the Fund's charter governing the Preferred Share remarketing
process.

         Nathan I. Partain, President and Chief Executive Officer of the Fund,
stated that: "We are pleased that the IRS has issued this ruling. This ruling,
together, with the approval of the proposed amendment to the Fund's charter,
will maintain the smooth operation of the Preferred Share remarketing process
without interfering with the existing tax treatment of dividends paid on the
Preferred Shares."

         Mr. Partain added, "For the reasons set forth in the Fund's Proxy
Statement, the Board of Directors of the Fund has unanimously recommended that
shareholders vote to approve the charter amendment. I urge all common and
preferred shareholders who have not yet voted to cast their votes in favor of
the amendment as soon as possible."

         DNP Select Income Fund Inc. is a closed-end diversified investment
management company. The Fund's primary investment objectives are current income
and long-term growth of income. The Fund seeks to achieve these objectives by
investing primarily in a diversified portfolio of equity and fixed income
securities of companies in the public utilities industry. For more information,
visit the Fund's website at www.dnpselectincome.com or call the Fund at (800)
864-0629.











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</TEXT>
</DOCUMENT>
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