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, +1-212-291-2832, or Brenda Grandell, Director, Closed-End Funds, +1-212-291-3775, both for High Income Opportunity Fund Inc.

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