High Income Fund, Inc.[NYSE: AWF] (the "Fund") today released its monthly portfolio update as of September 30, 2012.

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1 News Release FOR IMMEDIATE RELEASE Contacts: Shareholder Contact: AllianceBernstein Global High Income Fund RELEASES MONTHLY PORTFOLIO UPDATE New York, NY, October 31, AllianceBernstein Global High Income Fund, Inc.[NYSE: AWF] (the "Fund") today released its monthly portfolio update as of September 30, AllianceBernstein Global High Income Fund, Inc. Top 10 Fixed Income Holdings 1) U.S. Treasury Bonds 3.125%, 11/15/41-2/15/ % 2) Republic of Brazil 12.50%, 1/05/ % 3) Russian Agricultural Bank OJSC Via RSHB Capital 0.93% SA 7.75%, 5/29/18 4) Gazprom OAO Via Gaz Capital SA 6.51%, 3/07/ % 5) Argentina Bonos 7.00%, 10/03/ % 6) Ivory Coast Government International Bond 0.72% 3.75%, 12/31/32 7) Dominican Republic International Bond 8.625%, 0.64% 4/20/27 8) Turkey Government Bond 9.00%, 1/27/ % 9) El Salvador Government International Bond 7.65%, 6/15/ % 10) South Africa Government Bond Series R %, 0.52% 1/15/20 Fixed Income Holdings by Security Type Corporates - Non-Investment Grades Consumer Non-Cyclical 7.10% Capital Goods 5.87% Energy 4.57% Communications - Media 4.20% Technology 3.72% Consumer Cyclical - Other 3.61% Basic 3.46% Communications - Telecommunications 3.17% Consumer Cyclical - Automotive 1.70% Services 1.62% Consumer Cyclical - Retailers 1.42% Other 1.32% Transportation - Services 0.86% Consumer Cyclical - Entertainment 0.68%

2 Transportation - Airlines 0.52% Consumer Cyclical - Restaurants 0.25% Transportation - Railroads 0.03% SUBTOTAL 44.10% Banking 1.70% Finance 1.09% Other Finance 0.76% Insurance 0.64% Brokerage 0.24% REITS 0.16% SUBTOTAL 4.59% Electric 1.79% Natural Gas 0.93% SUBTOTAL 2.72% SUBTOTAL 51.41% Corporates - Investment Grades Insurance 2.13% Banking 1.45% Other Finance 0.44% Finance 0.39% REITS 0.32% Brokerage 0.09% SUBTOTAL 4.82% Basic 1.37% Energy 0.43% Consumer Cyclical - Other 0.30% Other 0.24% Communications - Telecommunications 0.17% Capital Goods 0.10% Consumer Cyclical - Retailers 0.09% Transportation - Airlines 0.07% SUBTOTAL 2.77% Non Corporate Sectors Agencies - Not Government Guaranteed 1.76% SUBTOTAL 1.76% Electric 0.14% SUBTOTAL 0.14% SUBTOTAL 9.49% Governments - Treasuries Treasuries 8.87% SUBTOTAL 8.87% Emerging Markets - Sovereigns 4.82% Collateralized Mortgage Obligations Non-Agency Floating Rate 2.15% Non-Agency Fixed Rate 1.62% SUBTOTAL 3.77%

3 Emerging Markets - Corporate Bonds Basic 1.03% Consumer Cyclical - Other 0.54% Communications - Media 0.52% Consumer Non-Cyclical 0.36% Other 0.32% Technology 0.23% Communications - Telecommunications 0.21% Transportation - Services 0.13% Energy 0.09% Consumer Cyclical - Retailers 0.08% Capital Goods 0.01% SUBTOTAL 3.52% Other Finance 0.14% Banking 0.03% SUBTOTAL 0.17% Electric 0.03% SUBTOTAL 0.03% SUBTOTAL 3.72% Commercial Mortgage-Backed Securities Non-Agency Fixed Rate CMBS 2.57% Non-Agency Floating Rate CMBS 0.45% SUBTOTAL 3.02% Emerging Markets - Treasuries 2.84% Bank Loans Consumer Cyclical - Automotive 0.42% Technology 0.35% Consumer Non-Cyclical 0.26% Consumer Cyclical - Other 0.21% Basic 0.19% Other 0.19% Communications - Media 0.17% Consumer Cyclical - Entertainment 0.12% Capital Goods 0.09% Energy 0.08% Services 0.07% Consumer Cyclical - Retailers 0.06% SUBTOTAL 2.21% Finance 0.21% SUBTOTAL 0.21% Non Corporate Sectors Foreign Local Government - Municipal 0.09% SUBTOTAL 0.09% Electric 0.08% SUBTOTAL 0.08%

4 SUBTOTAL 2.59% Quasi-Sovereigns Quasi-Sovereign Bonds 2.30% SUBTOTAL 2.30% Asset-Backed Securities Home Equity Loans - Fixed Rate 0.85% Home Equity Loans - Floating Rate 0.25% SUBTOTAL 1.10% Preferred Stocks 0.86% SUBTOTAL 0.86% Supranationals 0.58% Local Governments - Regional Bonds 0.57% Governments - Sovereign Agencies 0.42% Inflation-Linked Securities 0.40% Local Governments - Municipal Bonds 0.38% Governments - Sovereign Bonds 0.35% Common Stocks 0.19% Options Purchased - Puts Options on Funds and Investment Trusts 0.08% Options on Forward Contracts 0.02% SUBTOTAL 0.10% Short-Term Investments Investment Companies 2.07% Governments - Sovereign Bonds 0.15% Total Fixed Income % Country Breakdown United States 64.95% Russia 4.34% Brazil 3.64% United Kingdom 2.86% Argentina 1.80% Luxembourg 1.49% Netherlands 1.15% Dominican Republic 1.11% Germany 1.07% South Africa 0.99% Canada 0.97% Turkey 0.86% El Salvador 0.78% Indonesia 0.75% Ireland 0.75% Switzerland 0.74% Cote D'Ivoire 0.72% Mexico 0.72% Hungary 0.64% Ukraine 0.60% Supranational 0.58% Peru 0.58% Italy 0.57%

5 India 0.54% United Arab Emirates 0.50% Spain 0.47% Colombia 0.47% France 0.46% Kazakhstan 0.45% Croatia 0.44% Uruguay 0.40% Portugal 0.39% Chile 0.34% Barbados 0.31% Japan 0.29% Philippines 0.26% Hong Kong 0.24% Serbia 0.24% Ghana 0.24% Australia 0.22% Norway 0.21% Trinidad & Tobago 0.15% China 0.13% Singapore 0.12% Czech Republic 0.11% Bermuda 0.09% Austria 0.07% Denmark 0.07% Virgin Islands (BVI) 0.06% Nigeria 0.05% Euro Zone 0.02% Total Investments % Net Currency Exposure Breakdown United States Dollar % Mexican Peso 1.01% New Turkish Lira 1.00% Brazilian Real 0.82% Dominican Peso 0.52% Russian Rubles 0.48% Uruguayan Peso 0.45% Philippine Peso 0.29% Colombian Peso 0.23% Chilean Peso 0.23% Hungarian Forint 0.10% Great British Pound 0.07% Nigerian Naira 0.05% Indonesian Rupiah 0.05% Australian Dollar 0.03% South African Rand -0.01% Canadian Dollar -1.01% Japanese Yen -2.01% Euro -3.07% Total Investments %

6 Credit Quality Breakdown AAA 7.31% AA 0.44% A 6.76% BBB 16.27% BB 22.73% B 29.87% CCC 11.01% CC 0.40% C 0.03% D 0.53% Not Rated 2.42% Short Term Investments 2.23% Total Investments % Portfolio Statistics: Average Coupon: 8.62% Average Bond Price : N/A Percentage of Leverage: Bank Borrowing: 0.00% Investment Operations: 11.69%* Preferred Stock: 0.00% Tender Option Bonds: 0.00% Term Asset-Backed Loans Facility (TALF): 0.00% Total Fund Leverage: 11.69% Average Maturity: 7.98 Years Effective Duration: 4.86 Years Total Net Assets: $1, Million Net Asset Value: $15.34 Number of Holdings: 901 Portfolio Turnover: 26% * Investment Operations may include the use of certain portfolio management techniques such as credit default swaps, dollar rolls, negative cash, reverse repurchase agreements and when-issued securities. The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.- registered management investment company advised by AllianceBernstein L. P.