NEW YORK, NEW YORK -- (Marketwire) -- 08/07/09 -- Helios High Income Fund, Inc. (the "Fund") (NYSE: HIH) today announced that its Board of Directors declared a monthly dividend of $0.015 per share, payable on August 27, 2009 to stockholders of record on August 19, 2009. The ex-dividend date is August 17, 2009. Based on the NYSE closing price of $1.32 on August 6, 2009, the Fund's annualized dividend yield is 13.64%.

Dividends may include net investment income, capital gains and/or return of capital. The dividend yield referenced above is calculated as the annualized amount of the most recent monthly dividend declared divided by the stated stock price.

               Portfolio of Investments as of July 31, 2009
            Sector Allocation as a Percentage of Total Assets

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High Yield Corporates                                                    88%
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Investment Grade Corporates                                               8%
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Equities                                                                  3%
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Cash                                                                      1%
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            Credit Allocation as a Percentage of Total Assets(1)
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BBB                                                                       8%
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BB                                                                       43%
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B                                                                        35%
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CCC                                                                      11%
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D                                                                         2%
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Cash                                                                      1%
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(1) Credit allocation excludes equities.

The Fund uses its web site as a channel of distribution of material company information. Financial and other material information regarding the Fund is routinely posted on and accessible at www.hyperionbrookfield.com/strategies/retail_funds.htm.

Helios High Income Fund, Inc. is managed by Hyperion Brookfield Asset Management, Inc., a registered investment advisor headquartered in New York City. The firm was founded in 1989 to provide relative value driven fixed income investment strategies, such as core fixed income, high yield, and specialized MBS. Hyperion Brookfield manages approximately $16 billion as of June 30, 2009 for a client base that includes pension funds, financial institutions, mutual funds, closed-end funds, insurance companies and foundations. Hyperion Brookfield is a subsidiary of Brookfield Asset Management Inc., a global asset manager focused on property, power and other infrastructure assets with approximately $80 billion of assets under management as of June 30, 2009.