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Global High Income Fund Declares $0.0797 Monthly Distribution

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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 $0.0797 per share. The distribution is payable on December 31, 2012 to shareholders of record as of December 20, 2012. The ex-distribution date is December 18, 2012.

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 7% 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 August 2009 through May 2012, the annualized rate had been 8%.) 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/or 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.

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