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This announcement is not an offer to purchase or solicitation of offers to sell
Shares. The Offer is made only by the Offer to Purchase dated September 2, 2010,
and the related Letter of Transmittal. The Offer is not being made to, nor will
tenders be accepted from or on behalf of, holders of Shares in any jurisdiction
in which making or accepting the Offer would violate that jurisdiction's laws.
650 High Income Fund, Inc.
Notice of Offer to Purchase for Cash
12,413,793 of its Issued and Outstanding Shares
at Net Asset Value Per Share
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THE EXPIRATION DATE AND THE WITHDRAWAL DEADLINE FOR THE OFFER
IS 4:00 P.M., EASTERN TIME ON THURSDAY, SEPTEMBER 30, 2010, UNLESS EXTENDED.
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650 High Income Fund, Inc. (the "Fund") is offering to purchase up to
12,413,793 of its issued and outstanding shares of common stock par value $0.001
per share (the "Shares") at a price equal to their net asset value ("NAV") as of
the close of business on the New York Stock Exchange on the Expiration Date,
September 30, 2010, unless extended, upon the terms and conditions set forth in
the Offer to Purchase dated September 2, 2010 (the "Offer"). The NAV on July 31,
2010, was $0.58 per Share.
The purpose of the Offer is to provide liquidity to the Fund's
stockholders, since the Fund's shares are not sold on a secondary market. The
Offer is not conditioned upon the tender of any minimum number of Shares.
If more than 12,413,793 Shares are duly tendered prior to the expiration of
the Offer, assuming no changes in the factors originally considered by the
Fund's Board of Directors when it determined to make the Offer, the Fund will
either (1) extend its Offer period, if necessary, and increase the number of
Shares that the Fund is offering to purchase to an amount which it believes will
be sufficient to accommodate the excess Shares tendered, as well as any Shares
tendered during the extended Offer period, or (2) purchase 12,413,793 Shares (or
such larger number of Shares sought), on a pro rata basis.
Shares tendered pursuant to the Offer may be withdrawn at any time prior to
4:00 p.m., Eastern time on Thursday, September 30, 2010, unless the offer is
extended, and, if not yet accepted for payment by the Fund, Shares may also be
withdrawn after October 30, 2010.
The information required to be disclosed by paragraph (d)(1) of Rule 13e-4
under the Securities Exchange Act of 1934, as amended, is contained in the Offer
to Purchase and is incorporated herein by reference.
The Offer to Purchase and the related Letter of Transmittal for the Fund
contain important information that should be read carefully before any decision
is made with respect to the Offer.
Questions and requests for assistance or for copies of the Offer to
Purchase, the Fund's Letter of Transmittal, and any other tender offer
documents, may be directed to Josielyne Pacifico at the address below or
telephone number 1-212-558-2000. Copies will be furnished promptly at no expense
to you and also may be obtained by completing and returning the coupon below to
650 High Income Fund, Inc.
1-212-558-2000
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Mail to: 650 High Income Fund, Inc.
650 Madison Avenue, 19th Floor
New York, NY 10022
/ / Please send me 650 High Income Fund, Inc. Tender Offer materials
Name _________________________ Address __________________________________
Business Phone ______________ City ____________________________________
Home Phone __________________ State _______________________ Zip ______
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September 30, 2010 Six50 Capital Management LLC
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