HAV Helios Advantage I

Helios Advantage Income Fund, Inc., Helios High Income Fund, Inc., Helios Multi-Sector High Income Fund, Inc. and Helios Strategic Income Fund, Inc. Announce Reserve for Litigation

NEW YORK, NEW YORK--(Marketwired - Apr 30, 2014) - Helios Advantage Income Fund, Inc. (NYSE:HAV), Helios High Income Fund, Inc. (NYSE:HIH), Helios Multi-Sector High Income Fund, Inc. (NYSE:HMH) and Helios Strategic Income Fund, Inc. (NYSE:HSA) (collectively, the "Funds") announced today that they have each booked a reserve for potential costs and expenses related to the class action lawsuit filed against the Funds by Lehman Brothers Special Finance, Inc. ("LBSF"), styled Lehman Brothers Special Financing, Inc. v. Bank of America National Ass'n, et al., Adv. Pro. No. 10-03537 (Bankr. S.D.N.Y.) (the "Class Litigation"). The Class Litigation is currently pending in the United States Bankruptcy Court for the Southern District of New York, with LBSF seeking to recover funds that it alleges were inappropriately distributed to counter-parties upon the termination of credit swap agreements based on the Lehman Brothers bankruptcy. The Class Litigation was originally filed on September 14, 2010, and the Funds were added as defendants in September 2012. The Class Litigation, as amended, names more than 270 defendants, including the issuers of certain asset-backed securities, the trustees for such securities, and certain of the investors in the securities, such as the Funds. The disputed payments for HAV, HIH, HMH and HSA, exclusive of any interest (including pre-judgment interest) and expenses are $2,009,959.09, $1,004,979.54, 2,009,959.09, and $1,004,979.54, respectively. Based on the current status of the litigation, HAV, HIH, HMH and HSA have each booked a reserve that has resulted in a reduction in net asset value per share of $0.17, $0.11, $0.14 and $0.09, respectively. There is no assurance that the amount of the reserve booked for a Fund will be sufficient to cover the ultimate costs of litigation for that Fund.

Brookfield Asset Management Inc. is a global alternative asset manager with approximately $187 billion in assets under management as of December 31, 2013. Brookfield has over a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. The company offers a range of public and private investment products and services, which leverage its expertise and experience and provide it with a competitive advantage in the markets where it operates. On behalf of its clients, Brookfield is also an active investor in the public securities markets, where its experience extends over 30 years. Over this time, the company has successfully developed several investment operations and built expertise in the management of institutional portfolios, retail mutual funds, and structured product investments.

Brookfield's public market activities are conducted by Brookfield Investment Management, a registered investment advisor. These activities complement Brookfield's core competencies and include global listed real estate and infrastructure equities, corporate high yield investments, opportunistic credit strategies and a dedicated insurance asset management division. Headquartered in New York, NY, Brookfield Investment Management maintains offices and investment teams in Toronto, Chicago, Boston and London and has over $10 billion of assets under management as of December 31, 2013. The Funds are managed by Brookfield Investment Management.

The Funds use their web site as a channel of distribution of material company information. Financial and other material information regarding the Funds is routinely posted on and accessible at www.brookfieldim.com.

Helios Advantage Income Fund, Inc.Helios High Income Fund, Inc.Helios Multi-Sector High Income Fund, Inc.Helios Strategic Income Fund, Inc.(855) 777-8001funds@brookfield.com