Global High Income Fund Inc. -- Distribution Characteristics for August 2008
UBS Global Asset Management



New York, August 29, 2008 -- Global High Income Fund Inc. (the "Fund") (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 its distribution characteristics for the month of August 2008.

On August 11, 2008, the Fund's Board of Directors declared a regular monthly distribution of $0.1063 per share. This distribution is payable on August 29, 2008 to shareholders of record as of August 21, 2008. The ex-dividend date was August 19, 2008.

The Fund adopted a managed distribution policy in December 1999, which was revised in May 2005. Pursuant to the policy as currently in effect, the Fund makes regular monthly distributions at an annualized rate equal to 9% of the Fund's net asset value, as determined as of the last day on which the New York Stock Exchange is open for trading during the first week of that month. The Fund's Board will reassess no less frequently than annually 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; 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 profits, the amount of that excess would constitute a return of capital or net realized capital gains for tax purposes.

Based on information available at this time, the Fund estimates that net investment income, excluding short-term capital gains, is the source of approximately 100% of the August distribution of $0.1063 per share. Additionally, for the Fund's current fiscal period which began on November 1, 2007 through August 31, 2008 it is currently estimated that net investment income is the source of approximately 71% of your regular monthly aggregate distributions of $1.0794 per share, and short-term capital gains is the source of approximately 29% of your regular monthly aggregate distributions. These are only estimates, however, and are subject to change.

The actual sources of the Fund's distributions may be net investment income, net realized capital gains, return of capital or a combination of the foregoing and may be subject to retroactive recharacterization at the end of the Fund's fiscal year based on tax regulations. The actual amounts attributable to each of these sources will be reported to shareholders next January on Form 1099-DIV.

As of July 31, 2008, the Fund had estimated undistributed net investment income of $28,660.



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