<DOCUMENT>
<TYPE>EX-99.77C
<SEQUENCE>4
<FILENAME>nsar77c.txt
<DESCRIPTION>MEXICO EQUITY
<TEXT>

                     The Mexico Equity and Income Fund, Inc.

                 Form N-SAR Report for the Period Ended 7/31/03


                                  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



</TEXT>
</DOCUMENT>
