High Income Opportunity Fund Inc. Announces Dividend for the Months of January, February and March 2004

High Income Opportunity Fund Inc. Announces Dividend for the Months of January,
February and March 2004 


NEW YORK, Dec. 22  /PRNewswire-FirstCall/ -- High Income Opportunity Fund Inc.,
which is listed on the New York Stock Exchange under the symbol "HIO," announced
a dividend from ordinary income of $0.0500 per share for the months of January,
February and March 2004. The dividend distribution schedule appears below:

                        Ex-date             Record                Payable
   January              01/23/04           01/27/04               01/30/04
   February             02/20/04           01/24/04               02/27/04
   March                03/19/04           03/23/04               03/26/04




High Income Opportunity Fund Inc., a diversified investment management company,
is managed by Smith Barney Fund Management LLC., an indirect wholly owned
subsidiary of Citigroup Inc.

For more information, call Investor Relations at 1-888-735-6507. 

DATASOURCE: High Income Opportunity Fund Inc.



CONTACT:  Richard Peteka, Treasurer, [phone], or Brenda Grandell,

Director, Closed-End Funds, [phone], both of High Income Opportunity

Fund Inc.

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