Transamerica Income Shares, Inc. (the Fund) is a diversified closed-end management investment company. The Fund�s investment objective is to seek as high a level of current income. The Fund�s secondary investment objective is capital appreciation. The Fund invests primarily in debt securities. The Fund�s portfolio includes United States Government obligations, United States government agency obligation, foreign government obligations, mortgage-backed securities, asset-backed securities, municipal government obligations, preferred corporate debt securities, corporate debt securities, convertible preferred stock, preferred stocks, securities lending collateral and repurchase agreement. Transamerica Asset Management, Inc. is the Fund�s investment advisor. Transamerica Fund Services, Inc. is the Fund�s administrator. AEGON USA Investment Management is the sub-adviser of the Fund.