X0202 4 2007-08-31 0 0000863900 MEXICO EQUITY & INCOME FUND INC MXE 0001067621 GOLDSTEIN PHILLIP 60 HERITAGE DRIVE PLEASANTVILLE NY 10570 1 0 0 0 Common Stock 1 D Common stock 2007-08-31 4 J 0 57872 36.24 A 62872 I See Footnote The reported securities were purchased by the Reporting Person pursuant to a rights offering in which the Reporting Person exercised its right to purchase shares of common stock of the Issuer. The reported securities were acquired by Mercury Partners LP, a limited partnership; Steady Gain Partners LP, a limited partnership, Opportunity Income Plus LP, a limited partnership; Opportunity Partners L.P., a limited partnership; Full Value Partners LP, a limited partnership; and Calapasas Investment Partnership LP, a limited partnership. The Reporting Person is a portfolio manager for Mercury Partners LP, who has shared voting and dispositive power. The Reporting Person is the President of Kimball & Winthrop, Inc., the general partner of Opportunity Partners LP and the portfolio manager for Calapasas Investment Partnership LP, which has sole voting and dispositive power. The Reporting Person is a Managing Member of Spar Advisors LLC, the general partner of 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 August 31, 2007 Mercury Partners LP purchased 4,621 shares of the common stock of the Issuer, Steady Gain Partners LP purchased 4,621 shares of the common stock of the Issuer, Opportunity Income Plus LP purchased 3,675 shares of the common stock of the Issuer, Opportunity Partners L.P. purchased 19,362 shares of the common stock of the Issuer, Full Value Partners LP purchased 19,362 shares of the common stock of the Issuer and Calapasas Investment Partnership LP purchased 6,231 shares of the common stock of the Issuer. The Reporting Person disclaims beneficial ownership of the securities purchased by Mercury Partners LP, Steady Gain Partners LP, Opportunity Income Plus LP, Opportunity Partners L.P., Full Value Partners LP and Calapasas Investment Partnership LP. /s/ Phillip Goldstein 2007-09-05