High Income Opportunity Fund Inc. Announces Dividend Schedule for the Months of April, May and June 2004 NEW YORK, March 16 /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 April, May and June 2004. The dividend distribution schedule appears below: Ex-date Record Payable April 04/23/04 04/27/04 04/30/04 May 05/21/04 05/25/04 05/28/04 June 06/18/04 06/22/04 06/25/04 High Income Opportunity Fund Inc., a diversified investment management company, is managed by Smith Barney FundManagement 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, +1-212-291-2802, or Brenda Grandell, Director, Closed-End Funds, +1-212-291-3775, both for High Income Opportunity Fund Inc.

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