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 fourth quarter and fiscal year-to-date ended October 31, 2012.

For the fourth quarter ended October 31, 2012, the Fund's earnings from net investment income (excluding short-term capital gains) were $5,456,648, equal to $0.25 per share. During this period, the Fund paid monthly distributions (which may be comprised of net investment income and/or net realized capital gains) of $5,074,081, equal to $0.23 per share. Total net realized and unrealized gains from investment activities were $5,739,952, equal to $0.27 per share, for the same period. This compares to earnings from net investment income (excluding short-term capital gains) of $2,880,948, equal to $0.13 per share; monthly distributions paid (which were comprised of net investment income and/or net realized capital gains) of $5,734,791, equal to $0.27 per share; and total net realized and unrealized losses from investment activities of $(14,634,325), equal to $(0.68) per share, for the fiscal year ended October 31, 2011.

For the twelve months ended October 31, 2012, the Fund’s earnings from net investment income (excluding short-term capital gains) were $17,115,420, equal to $0.79 per share. During this period, the Fund paid monthly distributions (comprised of net investment income of $15,338,633, equal to $0.71 per share, and net realized long-term capital gains of $6,013,534, equal to $0.28 per share) of $21,352,167, equal to $0.99 per share. Total net realized and unrealized gains from investment activities were $13,805,138, equal to $0.65 per share, for the same period. This compares to earnings from net investment income (excluding short-term capital gains) of $13,503,075, equal to $0.63 per share; monthly distributions paid (which were comprised of net investment income and return of capital) of $23,388,276, equal to $1.08 per share; a year-end distribution of ordinary income of $6,911,547, equal to $0.32 per share; and total net realized and unrealized losses from investment activities were $(8,087,602), equal to $(0.39) per share, for the twelve months ended October 31, 2011.

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