In this paper we consider an infinitely deep dam fed by inputs which form an ergodic Markov chain and whose release M is non-unit. The extension to non-unit release follows on lines similar to the independent inputs case. We show that P(θ) – θ MΙ where P(θ) = (pijθ i) has a maximum of N = M(M + l)/2 non-zero singularities in the unit disc, so that the general solution of the equilibrium equations has N unknown constants. We also show that these constants satisfy N linear constraints, so that the solution is fully determined.