Global High Income Dollar Fund Inc. ("Fund") (NYSE: GHI), a non-diversified, closed-end management investment company seeking high current income and secondarily, capital appreciation through investments primarily in securities of emerging market debt issuers, today announced its dividend characteristics for the month of November 2004.

On November 8, 2004 the Fund's Board of Directors declared a monthly distribution of $0.1517 per share. This distribution was payable November 30, 2004 to shareholders of record as of November 18, 2004. The ex-dividend date was November 16, 2004.

The Fund adopted a managed distribution policy in December 1999, under which the Fund makes regular monthly distributions at an annualized rate equal to 11% of the Fund's net asset value, as determined as of the last day on which the New York Stock Exchange is open for trading during the first week of that month. The Fund's Board may terminate the managed distribution policy at any time; any such termination may have an adverse effect on the market price for the Fund's shares.

To the extent that the Fund's taxable income in any fiscal year exceeds the aggregate amount distributed based on a fixed percentage of its net asset value, the Fund would make an additional distribution in the amount of that excess near the end of the fiscal year. To the extent that the aggregate amount distributed by the Fund based on a fixed percentage of its net asset value exceeds its current and accumulated earnings and profits, the amount of that excess would constitute a return of capital or net realized capital gains for tax purposes.

Based on information available at this time, the Fund estimates that net investment income (including short-term capital gains) is the source of approximately 61% of the November (and fiscal year to date) distribution of $0.1517 per share and 39% represents long-term capital gain distribution. These are only estimates, however, and are subject to change.

The actual sources of the Fund's distributions may be net investment income, net realized capital gains, return of capital or a combination of the foregoing and may be subject to retroactive recharacterization at the end of the Fund's fiscal year based on tax regulations. The actual amounts attributable to each of these sources will be reported to shareholders in January 2005 on Form 1099-DIV.