The Pacholder High Yield Fund, Inc. (NYSE MKT:PHF) announced today that, in connection with the retirement of Fergus Reid III, Leonard Spalding and William J. Armstrong from the Board on December 31, 2012, three new directors would join the Board and William Morton, Jr. would continue to serve as director. To fill the vacant positions, Mary Martinez and Mitchell Merin will join the Board effective January 1, 2013 and Marian Pardo will join the Board effective February 1, 2013. The new Directors along with the remaining directors have been nominated to stand for election at the Fund’s 2013 shareholder meeting. The Fund is a closed-end diversified management investment company with a leveraged capital structure. Its investment objective is to provide a high level of total return through current income and capital appreciation. Under normal circumstances, the Fund invests at least 80% of the value of its assets in high yield securities. The Fund invests primarily in fixed income securities of domestic companies. The Fund’s common stock is traded on the NYSE MKT under the symbol “PHF”. The information presented here is not intended as a solicitation. New investors cannot purchase shares directly from the Fund. Shares are listed on the NYSE MKT, and interested investors should contact their financial advisor or broker-dealer for more information. The Fund was organized as a corporation under the laws of Maryland on August 17, 1988 and has registered with the SEC under the Investment Company Act of 1940, as amended. The Fund’s principal office is located at 270 Park Avenue, New York, New York 10017. For more information, visit us at www.pacholder.com, or call 1-877-217-9502. The Fund’s investment adviser is J.P. Morgan Investment Management Inc., an investment management firm registered with the SEC under the Investment Advisers Act of 1940.