The New America High Income Fund, Inc. Enters Into Credit Facility to Finance Redemption of Outstanding Auction Term Preferred Stock

In a filing with the Securities and Exchange Commission, The New America High Income Fund, Inc. (the "Fund")

announced its intention to redeem all outstanding shares of its auction term preferred stock ("ATP") on November 9, 2012 at the liquidation preference per share of $25,000, plus all accrued and unpaid dividends to the date of redemption, as provided under the terms of the ATP. The aggregate amount of the redemption is expected to be approximately $85.5 million. To finance the redemption of the ATP and maintain its leveraged capital structure, the Fund has entered into a credit facility with The Bank of Nova Scotia, pursuant to which the Fund may borrow up to an aggregate amount of $100 million. The facility provides for an initial term of one year and may be extended with respect to amounts outstanding at the end of the initial term for an additional year at the option of the Fund. Amounts borrowed under the credit facility