High Income Opportunity Fund Inc. Announces Dividend Schedule for the Months of July, August and September 2004.

High Income Opportunity Fund Inc. Announces Dividend Schedule for
the Months of July, August and September 2004. 


NEW YORK, June 28  /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 July, August and September 2004. The dividend distribution schedule appears
below:

                          Ex-date       Record         Payable

   July                  07/23/04      07/27/04       07/30/04

   August                08/20/04      08/24/04       08/27/04

   September             09/17/04      09/21/04       09/24/04




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:  Robert Brault, Treasurer, [phone], or Brenda Grandell,

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

Fund Inc. 

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