"PACHOLDER HIGH YIELD FUND CORRECTS NAV" from 01/22/2009.

NEW YORK -- The Pacholder High Yield Fund, Inc.'s (NYSE Alternext US:PHF) NAV for Thursday, January 22, 2009 is $4.35 per share. The Fund had incorrectly reported its NAV at $4.40 per share. The incorrect price was a result of the January common share dividend of $0.055 not being deducted from the NAV as required.

The Fund is a closed-end diversified management investment company with a leveraged capital structure. The Fund's investment objective is to provide a high level of total return through current income and capital appreciation. Under normal circumstances, the Fund invests at least 80% of the value of its assets in high yield securities. The Fund invests primarily in fixed income securities of domestic companies. The Fund's common stock is traded on the New York Stock Exchange Alternext US under the symbol "PHF".