Drinker Biddle & Reath LLP

May 15, 2008

Paul, Hastings, Janofsky & Walker LLP
75 East 55th Street
New York, New York 10022

         Re:  New Jersey Daily Municipal Income Fund, Inc.
                  Class A Shares, Class B Shares
                  Registration Statement dated May 30, 2008

Ladies and Gentlemen:

         We have acted as special New Jersey counsel respecting as to only New
Jersey gross income tax matters in connection with the issuance of Class A
Shares and Class B Shares (the "Shares") of the New Jersey Daily Municipal
Income Fund, Inc. (the "Fund"). We have reviewed the Prospectus and SAI dated as
of May 30, 2008 (together the "Registration Statement").

         Our advice is given and limited to matters relating to New Jersey gross
income tax law respecting receipt of certain dividends by holders of the Shares.
There follows our description of the New Jersey Gross Income Tax Act treatment
of exempt-dividend distributions by the Fund to its shareholders, which
description is intended to complete the data respecting New Jersey Taxes on page
19 of Prospectus and page 35 of the SAI that you forwarded to me. Additionally,
attached please find materials to be inserted in the Risk Factors section of the
SAI, which appears at page 10 in the draft you forwarded to me.

         We assume that within the meaning of the New Jersey Gross Income Tax
Act all obligations held by the Fund are issued by or on behalf of New Jersey or
any county, municipality, school or other district, agency, authority,
commission, instrumentality, public corporation (including one created or
existing pursuant to agreement or compact with New Jersey or any other state),
body corporate and politic or political subdivision of New Jersey, or such
obligations are statutorily free from taxation under the laws of the United
States.

         The Fund intends to be a "qualified investment fund" within the meaning
of the New Jersey Gross Income Tax Act. The primary criteria for constituting a
"qualified investment fund" are that (i) such fund is an investment company
registered with the SEC which, for the calendar year in which the distribution
is paid, has no investments other than interest bearing obligations, obligations
issued at a discount, cash and cash items, including receivables and financial
options, futures, forward contracts, or other similar financial instruments
relating to interest-bearing obligations, obligations issued at a

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Paul, Hastings, Janofsky & Walker LLP
May 15, 2008
Page 2

discount or bond indexes related thereto and (ii) at the closing of each quarter
of the taxable year, such fund has not less than 80% of the aggregate principal
amount of all of its investments, excluding financial options, futures, forward
contracts, or other similar financial instruments relating to interest-bearing
obligations, obligations issued at a discount or bond indexes related thereto to
the extent such instruments are authorized under the regulated investment
company rules under the Code, cash and cash items, which cash items shall
include receivables, in New Jersey Municipal Obligations and certain other
specified securities. Additionally, a qualified investment fund must comply with
certain continuing reporting requirements.

         In the opinion of Drinker Biddle & Reath LLP (i) assuming that the Fund
constitutes a qualified investment fund and that the Fund complies with the
reporting obligations under New Jersey law with respect to qualified investment
funds, (a) distributions paid by the Fund to a New Jersey resident individual
shareholder will not be subject to the New Jersey gross income tax to the extent
that the distributions are attributable to income received as interest on or
gain from New Jersey Municipal Obligations and (b) gain from the sale of shares
in the Fund by a New Jersey resident individual shareholder will not be subject
to the New Jersey gross income tax and (ii) distributions paid by the Fund to a
New Jersey resident individual shareholder will not be subject to the New Jersey
gross income tax to the extent that the distributions are attributable to
interest earned on federal obligations.

         Although the Fund intends to maintain a $1.00 per share net asset
value, the redemption of shares may result in the investor's receipt of more or
less than he paid for his shares and, thus, in a taxable gain or loss to the
investor. An exchange pursuant to the exchange privilege is treated for federal
income tax purposes as a sale on which a shareholder may realize a taxable gain
or loss. However, if the Fund is a New Jersey qualified investment fund, any
such gains received by a New Jersey resident individual shareholder should not
be subject to the New Jersey gross income tax.

         Interest on indebtedness incurred or continued to purchase or carry
Fund Shares is not deductible either for Federal income tax purposes or New
Jersey personal income tax purposes to the extent attributable to
exempt-interest dividends.

         Exempt-interest dividends and gains paid to a corporate shareholder
will be subject to the New Jersey corporation business (franchise) tax and, if
applicable, the New Jersey corporation income tax, and may also be subject to
state taxes in states other than New Jersey. Accordingly, investors in the Fund,
including, in particular, corporate investors which may be subject to the New
Jersey corporation business (franchise) tax and, if applicable, the New Jersey
corporation income tax, should consult their tax

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Paul, Hastings, Janofsky & Walker LLP
May 15, 2008
Page 3

advisors with respect to the application of such taxes to an investment in the
Fund, to the receipt of Fund dividends and as to their New Jersey tax situation
in general.

         We assume that you will include in your prospectus qualifications
substantially to the effect of the foregoing assumptions and, further, the
inability of counsel to the fund to predict the effect of any pending
legislative proposals. We have not made any review of any proceedings relating
to the issuance of underlying debt obligations for the basis of bond counsel's
opinions delivered in connection with such underlying obligations. To the extent
that any of the obligations held in the Fund may be "private activity bonds", we
express no opinion respecting the availability of an exemption from taxation of
interest due on such obligations and expect that the underlying opinions of bond
counsel have adequately treated, as applicable, issues relating to "substantial
user" and "capital expenditure" limitations upon such bonds under Sections 103,
144 and related sections of the Internal Revenue Code of 1986, as the same may
be amended.

         We consent to the use of our name under the caption "New Jersey Income
Taxes" in the Prospectus and in the SAI, and under the caption "Counsel and
Independent Registered Public Accounting Firm" in the SAI respecting the above
captioned shares, and we consent to the filing of this opinion as an exhibit to
any registration or qualification statement filed in connection with this
offering.



                                          Very truly yours,

                                         /s/ Drinker Biddle & Reath LLP
                                             Drinker Biddle & Reath LLP



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