Contact Information: Contact: Ellen E. Terry Vice President Telephone: 617-263-6400 www.newamerica-hyb.com
The New America High Income Fund, Inc. Notified by NYSE of Non-Compliance With Continued Listing Standards
| Source: The New America High Income Fund, Inc.
BOSTON, MA--(Marketwire - November 19, 2008) - The New America High Income Fund, Inc. (the
"Fund") (NYSE : HYB ) announced today that on November 13, 2008 the Fund
received a letter from NYSE Regulation, Inc. ("NYSE") advising it that the
Fund is not in compliance with the New York Stock Exchange's (the
"Exchange") continued listing standard related to maintaining a consecutive
thirty day average closing stock price of over $1.00 per share. The thirty
day average closing stock price as of November 12, 2008 was $.99.
Under the Exchange's rules, the Fund has six months from the date of the
NYSE notice to cure the average price deficiency, during which time,
subject to compliance with the Exchange's other continued listing
standards, the Fund's shares of common stock will continue to be listed and
traded on the Exchange. If these conditions are not met during the
six-month cure period, NYSE indicated that it will commence suspension and
delisting procedures. The Fund has notified NYSE that it intends to take
steps intended to cure the price deficiency within the six-month cure
period.
The New America High Income Fund, Inc. is a diversified, closed-end
management investment company with a leveraged capital structure. The
Fund's investment advisor is T. Rowe Price Associates, Inc. ("T. Rowe
Price"). As of September 30, 2008 T. Rowe Price and its affiliates managed
approximately $345 billion of assets, including approximately $10.4 billion
of "high yield" investments. T. Rowe Price has provided investment advisory
services to investment companies since 1937.