X0202 4 2007-11-16 0 0000863900 MEXICO EQUITY & INCOME FUND INC MXE 0001067621 GOLDSTEIN PHILLIP 60 HERITAGE DRIVE PLEASANTVILLE NY 10570 1 0 0 0 Preferred Stock 2007-11-16 4 S 0 26425 39.15 D Common Stock 26425 54775 I See Footnotes The reported securities were tendered by Opportunity Income Plus LP, a limited partnership; Opportunity Partners L.P., a limited partnership; and Full Value Partners LP, a limited partnership, pursuant to the terms of a Tender Offer Statement filed by the Issuer on October 22, 2007. The Reporting Person is the President of Kimball & Winthrop, Inc., the investment advisor for Opportunity Partners L.P., 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. (continued in Footnote 2) On November 16, 2007 Opportunity Income Plus LP tendered 2,327 shares of the Preferred Stock of the Issuer at a price of $39.15 per share, Opportunity Partners L.P. tendered 12,049 shares of the Preferred Stock of the Issuer at a price of $39.15 per share and Full Value Partners LP tendered 12,049 shares of the Preferred Stock of the Issuer at a price of $39.15 per share. The Reporting Person disclaims beneficial ownership of the securities owned by Opportunity Income Plus LP, Opportunity Partners L.P. and Full Value Partners LP. Each share of Preferred Stock will be automatically converted into one share of Common Stock upon the occurrence of the event described in footnote 4. In the event the Put Warrant Program (as described in Form 497 as filed with the Securities and Exchange Commission (the "SEC") on November 17, 2005) is approved by the SEC and upon the anticipated issuance of put warrants by the Issuer, all issued and outstanding shares of Preferred Stock will automatically convert into Common Stock on a one-for-one basis. None. /s/ Phillip Goldstein 2007-12-26