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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000894189-02-001246.txt : 20020930
<SEC-HEADER>0000894189-02-001246.hdr.sgml : 20020930
<ACCEPTANCE-DATETIME>20020930171303
ACCESSION NUMBER:		0000894189-02-001246
CONFORMED SUBMISSION TYPE:	NSAR-B/A
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20020731
FILED AS OF DATE:		20020930

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MEXICO EQUITY & INCOME FUND INC
		CENTRAL INDEX KEY:			0000863900
		IRS NUMBER:				133576061
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		NSAR-B/A
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-06111
		FILM NUMBER:		02777141

	BUSINESS ADDRESS:	
		STREET 1:		U.S. BANCORP FUND SERVICES, LLC
		STREET 2:		615 EAST MICHIGAN STREET, LC-2
		CITY:			MILWAUKEE
		STATE:			W1
		ZIP:			53202
		BUSINESS PHONE:		4147655307

	MAIL ADDRESS:	
		STREET 1:		U.S. BANCORP FUND SERVICES, LLC
		STREET 2:		615 EAST MICHIGAN STREET, LC-2
		CITY:			MILWAUKEE
		STATE:			W1
		ZIP:			53202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEXICO ADVANTAGE FUND INC
		DATE OF NAME CHANGE:	19900805

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEXICO CONVERTIBLE ADVANTAGE FUND INC
		DATE OF NAME CHANGE:	19900807
</SEC-HEADER>
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<TYPE>NSAR-B/A
<SEQUENCE>1
<FILENAME>answer4.fil
<TEXT>
<PAGE>      PAGE  1
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<PAGE>      PAGE  2
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<PAGE>      PAGE  3
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<PAGE>      PAGE  9
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087 A020000 592834105
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SIGNATURE   GERALD HELLERMAN
TITLE       PRESIDENT


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B ACCT LTTR
<SEQUENCE>3
<FILENAME>taitconsent.txt
<DESCRIPTION>ACCOUNTANT'S REPORT
<TEXT>
               REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
                               ON INTERNAL CONTROL



Board of Directors
The Mexico Equity and Income Fund, Inc.
Milwaukee, Wisconsin


In planning and performing  our audit of the financial  statements of The Mexico
Equity and Income Fund,  Inc.,  for the year ended July 31, 2002,  we considered
its  internal   control   structure,   including   procedures  for  safeguarding
securities,  in order to determine  our auditing  procedures  for the purpose of
expressing  our  opinion  on the  financial  statements  and to comply  with the
requirements of Form N-SAR, not to provide assurance on the internal control.

The management of the Fund is responsible  for  establishing  and maintaining an
internal control. In fulfilling this responsibility,  estimates and judgments by
management  are  required to assess the  expected  benefits  and  related  costs
controls.  Generally,  controls  that are  relevant  to an audit  pertain to the
entity's objective of preparing financial  statements for external purposes that
are fairly presented in conformity with accounting principles generally accepted
in the United States of America.  These  controls  include the  safeguarding  of
assets against unauthorized acquisition, use, or disposition.

Because of inherent  limitations in any internal  control  structure,  errors or
fraud may occur and not be detected.  Also,  projection of any evaluation of the
structure to future periods is subject to the risk that it may become inadequate
because of changes in  conditions  or that the  effectiveness  of the design and
operation may deteriorate.

Our  consideration  of the internal  control  components  would not  necessarily
disclose all matters in internal control that might be material weaknesses under
standards established by the American Institute of Certified Public Accountants.
A material  weakness  is a  condition  in which the design or  operation  of the
specific  internal control  components  elements does not reduce to a relatively
low level the risk that  errors or fraud in amounts  that would be  material  in
relation to the financial statements being audited may occur and not be detected
within a timely  period by employees in the normal  course of  performing  their
assigned functions. However, we noted no matters involving the internal control,
including  procedures  for  safeguarding  securities,  that  we  consider  to be
material weaknesses, as defined above, as of July 31, 2002.

This report is intended solely for the information and use of management and the
Securities and Exchange Commission,  and is not intended to be and should not be
used by anyone other than these specified parties.


                                                  /s/TAIT, WELLER & BAKER


Philadelphia, Pennsylvania
September 5, 2002

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77K CHNG ACCNT
<SEQUENCE>4
<FILENAME>auditorsconsent.txt
<TEXT>
PRICEWATERHOUSECOOPERS                               PricewaterhouseCoopers LLP
                                                     1177 Avenue of the Americas
                                                     New York, NY 10036
                                                     Telephone (646)471-4000
                                                     Facsimile (646) 471-4100



September 24, 2002

Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C.  20549


Commissioners:

We have read the statements made by The Mexico Equity and Income Fund, Inc. (the
"Fund"), which we understand will be filed with the Commission, pursuant to Item
77K of Form N-SAR,  as part of the Fund's N-SAR report dated September 26, 2003.
We agree with the statements concerning our Firm in such Form N-SAR.

Very truly yours,

/s/ PricewaterhouseCoopers LLP


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77K CHNG ACCNT
<SEQUENCE>5
<FILENAME>changeofaccountant.txt
<DESCRIPTION>CHANGE OF ACCOUNTANT
<TEXT>
SUB-ITEM 77K: Changes in Registrant's Certifying Accountant.



PricewaterhouseCoopers  LLP were previously the independent  accountants for The
Mexico  Equity and Income Fund,  Inc..  The  decision to change the  independent
accountants  was  resolved by the board of  directors in the meeting on June 20,
2002 and  Tait,  Weller  & Baker  were  appointed  as  independent  accountants.
PricewaterhouseCoopers LLP had served as independent accountants for each of the
two  years  in  the  period   ended  July  31,   2001.   The  audit   report  of
PricewaterhouseCoopers  LLP on the financial statements of The Mexico Equity and
Income  Fund,  Inc.  for each of the two years in the period ended July 31, 2001
did not contain  any adverse  opinion or  disclaimer  of opinion,  nor were they
qualified or modified as to uncertainty,  audit scope, or accounting principles.
In connection  with the audits of each of the two years in the period ended July
31, 2001 and the subsequent  interim period through June 20, 2002, there were no
disagreements  with  PricewaterhouseCoopers  LLP on  any  matter  of  accounting
principles or practices,  financial statement  disclosure,  or auditing scope or
procedures, which disagreements if not resolved to their satisfaction would have
caused them to make  reference in connection  with their report on the financial
statements for such years.

The Registrant represents that it had not consulted with Tait, Weller & Baker at
any time prior to their engagement with respect to the application of accounting
principles to a specified transaction, either completed or proposed: or the type
of  audit  opinion  that  might  be  rendered  on  the  Registrant's   financial
statements.



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>6
<FILENAME>certificationhellerman.txt
<DESCRIPTION>.77Q3 CERT
<TEXT>
FORM N-SAR CERTIFICATION

I, Gerald Hellerman, certify that:

1.   I have  reviewed  this report on Form N-SAR of The Mexico Equity and Income
     Fund, Inc.;

2.   Based on my knowledge, this report does not contain any untrue statement of
     a material  fact or omit to state a  material  fact  necessary  to make the
     statements made, in light of the circumstances  under which such statements
     were made,  not  misleading  with  respect  to the  period  covered by this
     report;

3.   Based on my knowledge,  the financial  information included in this report,
     and the financial  statements on which the financial  information is based,
     fairly present in all material respects the financial condition, results of
     operations,  changes  in net  assets,  and  cash  flows  (if the  financial
     statements  are  required  to  include a  statement  of cash  flows) of the
     registrant as of, and for, the periods presented in this report.


Date: 9/24/2002

                                    /s/ Gerald Hellerman
                                    -----------------------
                                       Gerald Hellerman
                                       President



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>7
<FILENAME>certificationweckwerth.txt
<DESCRIPTION>.77Q3 CERT
<TEXT>
FORM N-SAR CERTIFICATION

I, Michael Weckwerth, certify that:

1.   I have  reviewed  this report on Form N-SAR of The Mexico Equity and Income
     Fund, Inc.;

2.   Based on my knowledge, this report does not contain any untrue statement of
     a material  fact or omit to state a  material  fact  necessary  to make the
     statements made, in light of the circumstances  under which such statements
     were made,  not  misleading  with  respect  to the  period  covered by this
     report;

3.   Based on my knowledge,  the financial  information included in this report,
     and the financial  statements on which the financial  information is based,
     fairly present in all material respects the financial condition, results of
     operations,  changes  in net  assets,  and  cash  flows  (if the  financial
     statements  are  required  to  include a  statement  of cash  flows) of the
     registrant as of, and for, the periods presented in this report.


Date: 9/25/2002

                              /s/ Michael Weckwerth
                              ----------------------
                                Michael Weckwerth
                           Vice-President & Treasurer


</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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