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 that the Fund’s Board of Directors declared a regular monthly distribution of $0.0863 per share. The distribution is payable on November 30, 2009 to shareholders of record as of November 19, 2009. The ex-distribution date is November 17, 2009.

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 as in effect from May 2005 through July 2009, the annualized rate was 9%.) Based on information available at this time, the Fund estimates that portions of the current regular monthly distribution may be comprised of net investment income and capital gain distributions. Further information regarding the estimated sources of the current regular monthly distribution will be provided around month-end; however, information provided will be an estimate and subject to change based on the Fund’s investment experience during the remainder of its fiscal year.

The Fund’s Board receives recommendations from UBS Global Asset Management (Americas) Inc. 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.

To the extent that the Fund’s taxable income in any fiscal year exceeds the aggregate amount distributed based on a fixed percentage of its net asset value, the Fund would make an additional distribution in the amount of that excess near the end of the fiscal year. To the extent that the aggregate amount distributed by the Fund based on a fixed percentage of its net asset value exceeds its current and accumulated earnings and profit, the amount of that excess would constitute a return of capital or net realized capital gains for tax purposes. A return of capital may occur, for example, when some or all of the money that shareholders invested in the Fund is deemed to be paid back to shareholders. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with “yield” or “income.”

The Fund estimates the source characteristics of its monthly distributions. The amounts and sources reported are only estimates and are not being provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund’s investment experience during the remainder of its fiscal year and may be subject to retroactive changes based on tax regulations. The actual sources of the Fund’s regular monthly distributions may be net investment income, net realized capital gains, return of capital or a combination of the foregoing. The Fund sends shareholders a Form 1099-DIV (or a financial intermediary should provide an investor with similar information) for the calendar year that will tell shareholders how to report these distributions for federal income tax purposes.

Monthly distributions based on a fixed percentage of the Fund’s net asset value may require the Fund to make multiple distributions of long-term capital gains during a single fiscal year. The Fund has received exemptive relief from the Securities and Exchange Commission that enables it to do so.

Investors 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.

Characteristics as of October 31, 2009:*

* Net asset value (NAV), market price and distribution rates will fluctuate. NAV distribution rate (DR) is calculated by multiplying the current month’s distribution by 12 and dividing by the month-end net asset value. Market distribution rate (DR) is calculated by multiplying the current month’s distribution by 12 and dividing by the month-end market price.