SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                             _______________________

                                   Schedule TO
            Tender Offer Statement under Section 14(d)(1) or 13(e)(4)
                     of the Securities Exchange Act of 1934
                                (Amendment No. )

                      The Mexico Equity & Income Fund, Inc.
                       (Name of Subject Company (issuer))

                      The Mexico Equity & Income Fund, Inc.
                 (Names of Filing Persons (offeror and issuer))

                     Common Stock, Par Value $.001 Per Share
                         (Title of Class of Securities)

                                    592834105
                      (CUSIP Number of Class of Securities)

                            Bryan McKigney, President
                     The Mexico Equity and Income Fund, Inc.
                             World Financial Center
                               200 Liberty Street
                            New York, New York 10281
                                 (212) 667-5000
      (Name, address, and telephone number of person authorized to receive
             notices and communications on behalf of filing persons)

                                 with a copy to:
                            Laurence E. Cranch, Esq.
                          Leonard B. Mackey, Jr., Esq.
                       Clifford Chance Rogers & Wells LLP
                                 200 Park Avenue
                            New York, New York 10166
                                 (212) 878-8000


                            Calculation of Filing Fee

================================================================================
   Transaction Valuation                                Amount of Filing Fee
- --------------------------------------------------------------------------------
      Not Applicable                                       Not Applicable
================================================================================

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

     Amount Previously Paid:  Not Applicable
     Form or Registration No:  Not Applicable
     Filing Party:  Not Applicable
     Date Filed:  Not Applicable

|X|  Check the box if the filing relates  solely to  preliminary  communications
     made before the commencement of a tender offer.

Check the  appropriate  boxes below to designate any  transactions  to which the
statement relates:

|_|      third-party tender offer subject to Rule 14d-1.
|X|      issuer tender offer subject to Rule 13e-4.
|_|      going-private transactions subject to Rule 13-e-3.
|_|      amendment to Schedule 13D under rule 13d-2.

Check the following box if the filing is a final amendment reporting the results
of the tender offer: |_|

================================================================================



Items 1 - 11.

Not applicable.


Items 12.  Materials to be Filed as Exhibits.

Text of Press  Release  issued  by The  Mexico  Equity & Income  Fund,  Inc.  on
November 13, 2000.


PRESS RELEASE

                     THE MEXICO EQUITY AND INCOME FUND, INC.
                   ANNOUNCES COMMENCEMENT DATE OF TENDER OFFER


     NEW YORK,  November 13, 2000 - The Mexico Equity and Income Fund, Inc. (the
"Fund") announced today that the Fund's tender offer (the "Tender Offer") for up
to 20% of the Fund's common stock will commence on or about December 4, 2000 and
terminate on or about January 5, 2001.  As announced on September 19, 2000,  the
Tender  Offer will be  conducted at a price equal to 92% of the Fund's net asset
value per share on the last day of the tender period (or as otherwise  permitted
by the rules of the Securities and Exchange Commission (the "SEC").

     The  Tender  Offer  will be made  and  stockholders  will  be  notified  in
accordance  with the  requirements  of the  Securities  Exchange Act of 1934, as
amended,  and  the  Investment  Company  Act of  1940,  as  amended,  either  by
publication  or  mailing or both.  The  offering  documents  will  contain  such
information  as is  prescribed  by such  laws  and  the  rules  and  regulations
promulgated thereunder.

     The Fund is a  closed-end  management  investment  company  that seeks high
total  return  through  capital  appreciation  and current  income by  investing
primarily in equity and convertible debt securities  issued by Mexican companies
and debt securities of Mexican issuers. The Fund is traded on the New York Stock
Exchange under the symbol "MXE". The Fund's U.S. Co-Adviser, Advantage Advisers,
Inc. is a subsidiary of CIBC World Markets Corp.  Acci  Worldwide is the Mexican
Adviser to the Fund.

     This  announcement  is not an offer to purchase or solicitation of an offer
to sell shares of the Fund. The offer is made only by the Offer for Cash and the
related  Letter  of  Transmittal.  Holders  of Fund  shares  should  read  these
documents when they are available  because they contain  important  information.
These and other filed  documents will be available to investors for free both at
the website of the  Securities  and Exchange  Commission  and from the Fund. The
offer is not being made to, nor will  tenders be accepted  from or on behalf of,
holders of shares in any  jurisdiction  in which making or  accepting  the offer
would violate that jurisdiction's laws.

     Periodically,  updated  information  on the Fund can be obtained by calling
the Fund's dedicated  telephone line.  Information  provided includes a recorded
update revealing the Fund's top issues,  net asset value,  performance and other
information. The Fund's toll-free number is (800) 421-4777.

Contact: Maureen Seaman
         Advantage Advisers, Inc.
         (212) 667-5015

Item 13. Information Required by Schedule 13E-3.

         Not applicable.