Helios High Income Fund, Inc. Monthly Dividend Declaration

NEW YORK, NEW YORK, Jul 10 (MARKET WIRE) --
Helios High Income Fund, Inc. (the "Fund") (NYSE: HIH) today announced
that its Board of Directors declared a monthly dividend of $0.015 per
share, payable on July 30, 2009 to stockholders of record on July 22,
2009. The ex-dividend date is July 20, 2009. Based on the NYSE closing
price of $1.20 on July 9, 2009, the Fund's annualized dividend yield is
15.00%.

Dividends may include net investment income, capital gains and/or return
of capital. The dividend yield referenced above is calculated as the
annualized amount of the most recent monthly dividend declared divided by
the stated stock price.

Portfolio of Investments as of June 30, 2009
Sector Allocation as a Percentage of Total Assets

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High Yield Corporates 88%
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Investment Grade Corporates 8%
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Equities 3%
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Cash 1%
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Credit Allocation as a Percentage of Total Assets(1)

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BBB 8%
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BB 44%
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B 35%
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CCC 10%
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D 2%
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Cash 1%
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(1) Credit allocation excludes equities.

The Fund uses its web site as a channel of distribution of material
company information. Financial and other material information regarding
the Fund is routinely posted on and accessible at
www.hyperionbrookfield.com/strategies/retail_funds.htm.

Helios High Income Fund, Inc. is managed by Hyperion Brookfield Asset
Management, Inc., a registered investment advisor headquartered in New
York City. The firm was founded in 1989 to provide relative value driven
fixed income investment strategies, such as core fixed income, high
yield, and specialized MBS. Hyperion Brookfield manages approximately $16
billion for a client base that includes pension funds, financial
institutions, mutual funds, closed-end funds, insurance companies and
foundations. Hyperion Brookfield is a subsidiary of Brookfield Asset
Management Inc., a global asset manager focused on property, power and
other infrastructure assets with approximately $80 billion of assets
under management.

Contacts:
Helios High Income Fund, Inc.
Three World Financial Center
200 Vesey Street, 10th Floor
New York, NY, 10281-1010
1-800 HYPERION

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