Board of Global High Income Dollar Fund Inc. Authorizes Change in Fund Name and Investment Policy Effective November 2006.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Global High Income Dollar Fund Inc. ("Fund") (NYSE NYSE See: New York Stock Exchange : GHI GHI Group Health Incorporated (HMO) GHI German Historical Institute (Washington, DC) GHI Ghost Hunters International GHI Geohazards International GHI Gustav Heinemann-Initiative ) announced today that its Board of Directors ("Board") has approved a change to the Fund's name as well as a change in the Fund's investment policy, both of which are scheduled to take effect on or around November 1, 2006. The Fund currently has a policy that requires at least 80% of its assets to be invested in US dollar-denominated debt securities. The Fund's investment adviser, UBS Global Asset Management UBS Global Asset Management was the multinational investment unit of UBS AG, a very large multinational financial firm formed in 1998 from the merger of Union Bank of Switzerland and the Swiss Bank Corporation. (Americas) Inc. ("UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System Global AM"), has proposed, and the Fund's Board has approved, a change in the Fund's policy to permit it to invest in excess of 20% of its assets in non-dollar denominated securities. UBS Global AM believes that this change in policy will better enable the Fund to take advantage of local market opportunities and can offer shareholders a more efficient portfolio. Rule 35d-1 ("Rule") under the Investment Company Act of 1940, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. ("Investment Company Act") generally requires a registered investment company to invest at least 80% of its assets in the type of investment suggested by its name. Therefore, the Board has also approved a change in the Fund's name from "Global High Income Dollar Fund Inc." to "Global High Income Fund Inc." The Rule requires at least 60 days' advance notice to shareholders of investment policy changes related to a Fund's name. The Fund will mail such a notice to its shareholders within the coming weeks. The Fund expects that the name change and the change in the Fund's investment policy will become effective on or about November 1, 2006. The Fund's investment adviser is UBS Global Asset Management (Americas) Inc. Fund shares are traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "GHI." The Fund's primary investment objective is to achieve a high level of current income. As a secondary objective, the Fund seeks capital appreciation, to the extent consistent with its primary objective. There can be no assurance that these objectives will be met. |
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