Foxby Corp. Distribution Estimate

Foxby Corp. (AMEX: FXX) anticipates paying a year end distribution. The distribution is payable December 31, 2007 to shareholders of record December 19, 2007. At this time, the per share distribution is estimated as follows:

     Ordinary income of between $0.02 and $0.03 per share
     No capital gain distribution

This is a preliminary estimate. A precise estimate of the amount of the distribution is not possible because the dollar amounts of income to be distributed will change between now and the ex-date and cannot be determined in advance.

The distribution will be reinvested or paid out in cash, according to the instructions associated with each shareholder's account.

The non-fundamental investment objective of Foxby Corp. is total return which it may seek from growth of capital and from income in any security type and in any industry sector. The Fund is managed by CEF Advisers, Inc., a subsidiary of Winmill & Co. Incorporated, which is engaged through subsidiaries in stock market and gold investing through its investment management of equity and gold mutual funds, and closed end funds. More information about the Fund may be obtained at

CUSIP 351645106

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