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Global High Income Fund Inc. – Reports Earnings

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 debt securities of emerging market debt issuers, today announced its performance for the first quarter and fiscal year-to-date ended January 31, 2012.

For the first quarter ended January 31, 2012, the Fund's earnings from net investment income (excluding short-term capital gains) were $4,832,623, equal to $0.22 per share. During this period, the Fund paid monthly distributions (which may be comprised of net investment income, net realized capital gains, and/or return of capital) of $5,512,396, equal to $0.26 per share. Total net realized and unrealized gains from investment activities were $1,671,885, equal to $0.08 per share, for the same period. This compares to earnings from net investment income (excluding short-term capital gains) of $4,038,150, equal to $0.19 per share; monthly distributions paid (which were comprised of net investment income and/or return of capital) of $5,993,893, equal to $0.28 per share; and total net realized and unrealized losses from investment activities of $(13,249,858) equal to $(0.61) per share, for the fiscal first quarter ended January 31, 2011.

On January 31, 2012, total net assets of the Fund were $281,790,793. The net asset value per share was $13.05, based on 21,591,836 shares outstanding, which represents a decrease of 0.61% from the net asset value per share of $13.13 ($283,565,883 attributable to 21,591,836 shares outstanding) on January 31, 2011.

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%.) An investor should not draw any conclusions about the Fund’s investment performance from the amount of the monthly distribution or from the terms of the Fund’s managed distribution policy.

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