EX-99.77C VOTES

                     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

EX-99.77Q3 CERT

                     The Mexico Equity and Income Fund, Inc.

                 Form N-SAR Report for the Period Ended 01/31/03

Item 77-Q3

(i) Based on an  evaluation  of the  Disclosure  Controls  and  Procedures,  the
Disclosure  Controls and  Procedures (as defined in rule 30a-2(c) under the Act)
are adequately and effectively  designed to ensure that information  required to
be disclosed by The Mexico Equity and Income Fund, Inc. is recorded,  processed,
summarized and reported by the Filing Date, and that information  required to be
disclosed in the report is  communicated  to The Mexico  Equity and Income Fund,
Inc.'s management, as appropriate,  to allow timely decisions regarding required
disclosure.

(ii) There were no  significant  changes in The Mexico  Equity and Income  Fund,
Inc.'s  internal  controls or in other factors that could  significantly  affect
these  controls  subsequent to the date of their  evaluation,  and there were no
corrective  actions  with  regard  to  significant   deficiencies  and  material
weaknesses.

EX-99.77Q3 CERT

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;

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in rule 30a-2(c) under the  Investment  Company Act) for the registrant and
     have:

     a)   designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities, particularly during the period in which this report is being
          prepared;

     b)   evaluated the  effectiveness of the registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this report (the "Evaluation Date"); and

     c)   presented in this report our conclusions  about the  effectiveness  of
          the disclosure  controls and procedures  based on our evaluation as of
          the Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of the registrant's board of directors (or persons performing the
     equivalent functions):

     a)   all  significant  deficiencies  in the design or operation of internal
          controls  which could  adversely  affect the  registrant's  ability to
          record,  process,  summarize,  and  report  financial  data  and  have
          identified for the  registrant's  auditors any material  weaknesses in
          internal controls; and

     b)   any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  registrant's  internal
          controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     report whether or not there were significant  changes in internal  controls
     or in other  factors  that could  significantly  affect  internal  controls
     subsequent  to the  date  of our  most  recent  evaluation,  including  any
     corrective  actions with regard to  significant  deficiencies  and material
     weaknesses.


Date: March 26, 2003

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

EX-99.77Q3 CERT

FORM N-SAR CERTIFICATION

I, Michael J. 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;

4.   The  registrant's  other  certifying  officers  and I are  responsible  for
     establishing and maintaining disclosure controls and procedures (as defined
     in rule 30a-2(c) under the  Investment  Company Act) for the registrant and
     have:

     a)   designed  such  disclosure  controls  and  procedures  to ensure  that
          material  information  relating  to  the  registrant,   including  its
          consolidated subsidiaries,  is made known to us by others within those
          entities, particularly during the period in which this report is being
          prepared;

     b)   evaluated the  effectiveness of the registrant's  disclosure  controls
          and procedures as of a date within 90 days prior to the filing date of
          this report (the "Evaluation Date"); and

     c)   presented in this report our conclusions  about the  effectiveness  of
          the disclosure  controls and procedures  based on our evaluation as of
          the Evaluation Date;

5.   The registrant's other certifying  officers and I have disclosed,  based on
     our most recent  evaluation,  to the  registrant's  auditors  and the audit
     committee of the registrant's board of directors (or persons performing the
     equivalent functions):

     a)   all  significant  deficiencies  in the design or operation of internal
          controls  which could  adversely  affect the  registrant's  ability to
          record,  process,  summarize,  and  report  financial  data  and  have
          identified for the  registrant's  auditors any material  weaknesses in
          internal controls; and

     b)   any fraud, whether or not material,  that involves management or other
          employees who have a  significant  role in the  registrant's  internal
          controls; and

6.   The  registrant's  other  certifying  officers and I have indicated in this
     report whether or not there were significant  changes in internal  controls
     or in other  factors  that could  significantly  affect  internal  controls
     subsequent  to the  date  of our  most  recent  evaluation,  including  any
     corrective  actions with regard to  significant  deficiencies  and material
     weaknesses.


Date: March 26, 2003

                           /s/ Michael J. Weckwerth
                           -------------------------------
                               Michael J. Weckwerth
                                    Treasurer