For Immediate Release

Contact:
Ellen E. Terry, President
Telephone: 617-263-6400
www.newamerica-hyb.com

Boston, Massachusetts, March 30, 2020 -- The New America High Income Fund, Inc. (the "Fund") (NYSE: HYB) announced today that it will pay a dividend of $0.050 per share on the company's common stock on April 30, 2020 to common shareholders of record as of the close of business on April 16, 2020 (the "April 2020 Dividend"). The ex-dividend date will be April 15th. The April 2020 Dividend represents a decrease of $0.005 from the Fund's dividend of $0.055 that will be paid on March 31, 2020. In determining to reduce the dividend, the Board of Directors of the Fund considered information regarding the impact of the COVID-19 pandemic on, among other things, the Fund's current and projected investment income from its holdings.

The recent outbreak of COVID-19 has impacted issuers whose securities the Fund invests in and the market on which the Fund's common stock is traded. The spread of COVID-19 can have a significant negative impact as a result of closed borders, quarantines and disruptions to business operations, supply chains and consumer activity, as well as general concern and uncertainty. Many of the impacts of the COVID-19 pandemic on economies and issuers, globally, are yet to be seen or quantified, and such effects may persist for an extended period of time and result in a substantial economic downturn. Health crises caused by outbreaks, such as the COVID-19 pandemic, may exacerbate other pre-existing political, social and economic risks and disrupt normal market conditions and operations. These factors can affect, among other things, the nature and amount of Fund distributions, Fund performance and trading price, the cost of financing and cash levels necessary to meet coverage requirements under applicable law and the Fund's line of credit, portfolio holdings and realized and projected returns. There can be no guarantee that a change in market conditions or other factors will not result in a change in the nature of the Fund's dividend or the amount of the dividend paid in the future.

The Fund has released updated portfolio data which can be found on the Fund's website at www.newamerica-hyb.com.

The New America High Income Fund, Inc. is a diversified, closed-end management investment company with a leveraged capital structure. The Fund's investment adviser is T. Rowe Price Associates, Inc. ("T. Rowe Price"). As of December 31, 2019, T. Rowe Price and its affiliates managed approximately $1.2 trillion of assets, including approximately $20 billion of "high yield" investments. T. Rowe Price has provided investment advisory services to investment companies since 1937.

Except for any historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of the Fund, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. The Fund undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statement.

This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission.

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