Global High Income Fund Inc. — Distribution Characteristics For January 2012

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 its distribution characteristics for the month of January 2012.

The following notice was sent to shareholders today:

Global High Income Fund Inc.

c/o UBS Global Asset Management (Americas) Inc.

1285 Avenue of the Americas

New York, NY 10019

DISTRIBUTION NOTICE

January 2012

The purpose of this document is to provide you with information that is required to be sent to you as well as additional information that may be of interest to at least some investors.

On January 9, 2012, the Fund's Board of Directors declared a regular monthly distribution of $0.0839 per share. This distribution is payable on January 31, 2012 to shareholders of record as of January 19, 2012. The ex-distribution date was January 17, 2012.

The Fund adopted a managed distribution policy (“Policy”) in December 1999. Pursuant to the Policy as currently in effect, the Fund makes regular monthly distributions at an annualized rate equal to 8% of the Fund’s 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 2005 through July 2009, the annualized rate had been 9%.) The Fund’s Board receives recommendations from UBS Global Asset Management (Americas) Inc., the Fund’s investment advisor, periodically and no less frequently than annually will reassess the annualized percentage of net assets at which the Fund’s monthly distributions will be made. The Fund’s 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 Fund’s shares.

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