News Column

Global High Income Fund Inc. – Distribution Declaration and Updated Price & Distribution Rate Information

August 11, 2014

NEW YORK--(BUSINESS WIRE)-- Global High Income Fund Inc. (the "Fund") (NYSE: GHI), a non-diversified, closed-end management investment company seeking high current income and secondarily, capital appreciation through investments primarily in securities of emerging market debt issuers, today announced that the Fundís Board of Directors declared a regular monthly distribution of $0.0578 per share. The distribution is payable on August 29, 2014 to shareholders of record as of August 21, 2014. The ex-distribution date is August 19, 2014.

The Fund adopted a managed distribution policy (ďPolicyĒ) in December 1999. Pursuant to the Policy as currently in effect, the Fund makes regular monthly distributions at an annualized rate equal to 6% of the Fundís net asset value, determined as of the last day on which the New York Stock Exchange is open for trading during the first week of that month. (Pursuant to the Policy with respect to distributions paid from June 2012 through the monthly distribution for May 2014, the annualized rate had been 7%, which, consistent with the policy, in any given month may have been comprised of a combination of net investment income, short- and/or long-term capital gains, and/or a return of capital.) Based on information available at this time, the Fund estimates that portions of the current regular monthly distribution may be comprised of net investment income and short- and/or long-term capital gains. Further information regarding the estimated sources of the current regular monthly distribution will be provided around month-end; however, information provided will be an estimate and subject to change based on the Fundís investment experience during the remainder of its fiscal year.

The Fundís Board receives recommendations from UBS Global Asset Management (Americas) Inc., the Fundís investment advisor, periodically and no less frequently than annually will reassess the annualized percentage of net assets at which the Fundís monthly distributions will be made. The Fundís Board may change or terminate the managed distribution policy at any time without prior notice to Fund shareholders; any such change or termination may have an adverse effect on the market price for the Fundís shares.

To the extent that the Fundís taxable income in any fiscal year exceeds the aggregate amount distributed based on a fixed percentage of its net asset value, the Fund would make an additional distribution in the amount of that excess near the end of the fiscal year. To the extent that the aggregate amount distributed by the Fund based on a fixed percentage of its net asset value exceeds its current and accumulated undistributed earnings and profits, the amount of that excess would constitute a return of capital or net realized capital gains for tax purposes. A return of capital may occur, for example, when some or all of the money that shareholders invested in the Fund is deemed to be paid back to shareholders. A return of capital distribution does not necessarily reflect the Fundís investment performance and should not be confused with ďyieldĒ or ďincome.Ē

The Fund estimates the source characteristics of its monthly distributions. The amounts and sources reported are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fundís investment experience during its entire fiscal year and may be subject to retroactive changes based on tax regulations. The actual sources of the Fundís regular monthly distributions may be net investment income, net realized capital gains, return of capital or a combination of the foregoing. The Fund sends shareholders a Form 1099-DIV (or a financial intermediary should provide a shareholder with similar information) for the calendar year that will tell shareholders how to report these distributions for federal income tax purposes.

Monthly distributions based on a fixed percentage of the Fundís net asset value may require the Fund to make multiple distributions of long-term capital gains during a single fiscal year. The Fund has received exemptive relief from the Securities and Exchange Commission that enables it to do so.

Investors should not draw any conclusions about the Fundís investment performance from the amount of the monthly distribution or from the terms of the Fundís managed distribution policy.

Characteristics as of July 31, 2014*

Net Asset Value per share $11.59
Market Price per share $9.96
NAV Distribution Rate (DR) 5.98%
Market Distribution Rate (DR) 6.96%


* Net asset value (NAV), market price and distribution rates will fluctuate. NAV distribution rate (DR) is calculated by multiplying the current monthís regular monthly distribution by 12 and dividing by the month-end net asset value. Market distribution rate (DR) is calculated by multiplying the current monthís regular monthly distribution by 12 and dividing by the month-end market price.

Any performance information reflects the deduction of the Fundís fees and expenses, as indicated in its shareholder reports, such as investment advisory and administration fees, custody fees, exchange listing fees, etc. It does not reflect any transaction charges that a shareholder may incur when (s)he buys or sells shares (e.g., a shareholderís brokerage commissions).

Investing in the Fund entails specific risks, such as interest rate risk and the risks associated with investing in the securities of issuers in emerging market countries.The value of the Fund's investments in foreign securities may fall due to adverse political, social and economic developments abroad†and due to decreases in foreign currency values relative to the US dollar.Investments in emerging market issuers may decline in value because of unfavorable government actions, greater risks of political instability or the absence of accurate information about emerging market issuers.†Further†detailed information regarding the Fund, including a discussion of principal objectives, principal investment strategies and principal risks, may be found in the fund overview located at http://www.ubs.com/closedendfundsinfo. You may also request copies of the fund overview by calling the Closed-End Funds Desk at 888-793 8637.

©UBS 2014. All rights reserved.

The key symbol and UBS are among the registered and unregistered trademarks of UBS.




UBS Global Asset Management

Closed-End Funds Desk, 888-793 8637

ubs.com

Source: Global High Income Fund Inc.


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