Global High Income Fund Inc. Announces Portfolio Manager Change

New York - 8 July 2015

Global High Income Fund Inc. (the "Fund") (NYSE:GHI) today announced that Dr. Federico Kaune has assumed primary day-to-day portfolio management responsibilities for the Fund, becoming the Fund's lead portfolio manager. Dr. Kaune joined UBS Global Asset Management (Americas) Inc. ("UBS Global AM"), the Fund's investment advisor, earlier this week as Head of Emerging Markets Debt. He replaces the Fund's prior lead portfolio manager.

The Fund is a non-diversified, closed-end management investment company seeking high current income and secondarily, capital appreciation through investments primarily in securities of emerging markets debt issuers.

"Emerging markets debt is an exciting and rapidly developing area of the fixed income markets, with an increasing opportunity set," said John Dugenske, Global Head of Fixed Income for UBS Global AM. "Having Federico join our Emerging Markets Debt team will help ensure we are best positioned in this dynamic environment."

Working with several members of UBS Global AM's existing team of seasoned investors, Dr. Kaune is expected to bring extensive macroeconomic, investment and leadership experience to the firm.

Dr. Kaune has significant, broad financial markets experience, including more than 20 years of global macroeconomic analysis experience and more than 13 years as a fixed income investor with particular focus on emerging economies. He holds a Ph.D. and M.A. in Economics from the University of Chicago.

Dr. Kaune joins UBS Global AM from Baffin Advisors, where he was Senior Portfolio Manager. Prior to this, from 2002 to 2014, he held various roles at Morgan Stanley Investment Management (MSIM), including five years as Co-Head of Emerging Markets Debt and Senior Portfolio Manager responsible for managing both hard and local currency emerging markets debt portfolios. Before joining MSIM, Dr. Kaune was Senior Andean Economist at Goldman Sachs for five years and prior to that served as an Economist at the International Monetary Fund (IMF) in Washington D.C.

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