Pacholder High Yield Fund Corrects Monthly Dividend Announcement.

CINCINNATI -- Pacholder High Yield Fund, Inc. (AMEX:PHF) has corrected the ex-date previously announced for the regular monthly dividend for the month of December. The Fund's press release dated December 12, 2006, incorrectly reported that the ex-date for the December dividend was December 27, 2006, The correct ex-date is December 20, 2006. The dividend will be payable on December 29, 2006 to common shareholders of record on December 22, 2006.

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 American Stock Exchange under the symbol "PHF."