<DOCUMENT>
<TYPE>EX-99.77C VOTES
<SEQUENCE>3
<FILENAME>exhibit77c.txt
<DESCRIPTION>VOTES
<TEXT>
                     The Mexico Equity and Income Fund, Inc.

                 Form N-SAR Report for the Period Ended 1/31/03


Item 77-C (1)

Results of Annual Stockholders Meeting

The Fund's  Annual  Stockholders  meeting was held on February 14, 2003,  at 405
Park Avenue, New York, New York 10022. As of December 30, 2002, the record date,
outstanding  shares  of common  stock  ("shares")  of the Fund  were  2,473,504.
Holders of 2,136,673  shares of the Fund were  present at the meeting  either in
person or by  proxy.  These  holders,  as being  holders  of a  majority  of the
outstanding shares of the Fund,  constituted a quorum. The stockholders voted on
four proposals.

The stockholders  elected three Directors to the Board of Directors,  approved a
new Investment  Advisory agreement between Clemente Capital,  Inc. and the Fund,
and approved the creation and  registration of put warrants,  which are designed
to afford  stockholders  an  opportunity  to realize  net asset  value for their
shares.  The stockholders also ratified the selection of Tait, Weller & Baker as
the Fund's independent auditor for the fiscal year ending July 31, 2003.

The following table provides information  concerning the matters voted on at the
meeting:

I.   Election of Directors

        Nominee                        For                 Withheld

        Glenn Goodstein                2,015,470           121,203

        Phillip Goldstein              2,016,023           120,650

        Leopoldo M. Clemente, Jr.      2,019,996           116,677


II.  Approval of the new Investment Advisory Agreement between Clemente Capital,
     Inc. and the Fund

          Votes For       Votes Against   Votes Abstained    Broker Non-Votes

          1,993,353           96,489          46,831                     2


III. Adoption of a proposal to approve the creation,  issuance and  registration
     of put warrants,  which are designed to afford stockholders the opportunity
     to realize net asset value for their shares

          Votes For       Votes Against   Votes Abstained    Broker Non-Votes

            724,401         169,275           79,677             1,163,322

IV.  Ratification  of the  selection  of  Tait,  Weller  & Baker  as the  Fund's
     independent auditor

          Votes For       Votes Against   Votes Abstained    Broker Non-Votes

          2,033,955          59,381           43,339                     0


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