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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001144204-05-038807.txt : 20051205
<SEC-HEADER>0001144204-05-038807.hdr.sgml : 20051205
<ACCEPTANCE-DATETIME>20051205180039
ACCESSION NUMBER:		0001144204-05-038807
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20051123
FILED AS OF DATE:		20051205
DATE AS OF CHANGE:		20051205

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Dakos Andrew
		CENTRAL INDEX KEY:			0001341021

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-06111
		FILM NUMBER:		051245301

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		973-331-1135

	MAIL ADDRESS:	
		STREET 1:		43 WATERFORD DRIVE
		CITY:			MONTVILLE
		STATE:			NJ
		ZIP:			07045

ISSUER:		

	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

	BUSINESS ADDRESS:	
		STREET 1:		U.S. BANCORP FUND SERVICES, LLC
		STREET 2:		615 EAST MICHIGAN STREET, LC-2
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53202
		BUSINESS PHONE:		4147654499

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEXICO CONVERTIBLE ADVANTAGE FUND INC
		DATE OF NAME CHANGE:	19900807

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEXICO ADVANTAGE FUND INC
		DATE OF NAME CHANGE:	19900805
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v030948_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-11-23</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000863900</issuerCik>
        <issuerName>MEXICO EQUITY &amp; INCOME FUND INC</issuerName>
        <issuerTradingSymbol>MXE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001341021</rptOwnerCik>
            <rptOwnerName>Dakos Andrew</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>43 WATERFORD DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MONTVILLE</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07045</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2005-11-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1900</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>21.15</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1900</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The reported securities were acquired by Opportunity Income Plus LP, a limited partnership and Full Value Partners LP, a
 limited partnership. The Reporting Person is a Managing Member of Spar Advisors LLC, the general partner for Opportunity
 Income Plus LP., which has sole voting and dispositive power.  The Reporting Person is a Managing Member of Full Value
 Advisors LLC, the general partner of Full Value Partners LP, which has sole voting and dispositive power.  On November 23,
 2005 Opportunity Income Plus LP purchased 200 shares of the Common stock of the Issuer and Full Value Partners LP purchased
 1,700 shares of the Common Stock of the Issuer. The Reporting Person disclaims beneficial ownership of the securities
 purchased by Opportunity Income Plus LP and Full Value Partners LP.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Andrew Dakos</signatureName>
        <signatureDate>2005-12-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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