0Distribution rates2 NAV distribution rate DR8

23 gave him more pressure, and made those proverbial big shoes impossibly huge. For being the first player to average 30/7/7 since His Airness averaged 32/8/8 in 1989, LeBron James became the most complete perimeter player since Jordan himself, and as for those shoes, came frighteningly close to filling them.The idea of a number change also shows how much LeBron has matured as a person. He was already mature to begin with, but his number choice has always had its fair share of detractors, including this writer, who once wrote that it was disrespectful to so much as invoke the number without proper fanfare.Instead, LeBron James told Sager that he will probably wear No. 6 next season, and it was perhaps the wisest postgame decision James has ever made. A number change not only speaks to his respect for those who came before him (namely Jordan), but also the beginning of a legacy entirely his own. There are few players with the opportunity to change the way a number is viewed, and the one player who does just that, who did it with the No 23, is an icon of the game. Here's a believer that the No. 6 will give LeBron James the opportunity to make his mark, even if it DOES coincide with the mark of the beast.. (the "Fund") (NYSE: SGL), a non-diversified,closed-end management investment company seeking a high level of current incomeas a primary objective and capital appreciation as a secondary objective throughinvestments in US and foreign debt securities, today announced that the FundsBoard of Directors declared a regular monthly distribution of $0.0611 per share.The distribution is payable on January 30, 2009 to shareholders of record as ofJanuary 22, 2009 The ex-dividend date is January 20, 2009. The Fund adopted a managed distribution policy in May 1998, which was revisedeffective January 2000 and in May 2005. Pursuant to the policy as currently ineffect, the Fund makes regular monthly distributions at an annualized rate equalto 8 of the Funds net asset value, as determined as of the last day on whichthe New York Stock Exchange is open for trading during the first week of thatmonth. Based on information available at this time, the Fund estimates thatportions of the current regular monthly distribution may be comprised of netinvestment income and capital gain distributions.

To the extent that the aggregate amount distributedby the Fund based on a fixed percentage of its net asset value exceeds itscurrent and accumulated earnings and profit, the amount of that excess wouldconstitute a return of capital or net realized capital gains for tax purposes.From time to time, the Fund may project that a portion of a distribution mayconsist of a return of capital based on information available at that time. Suchan estimate is subject to change based on the Funds investment experienceduring the remainder of its fiscal year. The actual sources of the Fundsregular monthly distributions may be net investment income, net realized capitalgains, return of capital or a combination of the foregoing and may be subject toretroactive recharacterization at the end of the Funds fiscal year based on taxregulations. The actual amounts attributable to each of the sources will bereported to each shareholder next January on Form 1099-DIV. The Funds Boardreceives recommendations from UBS Global Asset Management (Americas) Inc., theFunds investment advisor, periodically and no less frequently than annuallywill reassess the annualized percentage of net assets at which the Fundsmonthly distributions will be made.

The Funds Board may change or terminate themanaged distribution policy at any time; any such change or termination may havean adverse effect on the market price for the Funds shares. Portfolio statistics as of December 31, 2008(1) Asset allocationPercentage of net assets US dollar denominated investment grade debt 36.4 United States 28.4 Cayman Islands4.0Other (less than 3.0 of net assets per credit) 4.0 US dollar denominated non investment grade debt 8.3United States 3.4Argentina 3.3Other (less than 3.0 of net assets per credit) 1.6 Foreign currency denominated investment grade debt36.5 Italy 9.4Germany 7.2France5.3Spain 5.3Other (less than 3.0 of net assets per credit) 9.3 Foreign currency denominated non investment grade debt8.8Malaysia3.6Other (less than 3.0 of net assets per credit) 5.2 Swaps (e.g. total return and credit default) and other derivatives0.6Short term investments9.6Liabilities, in excess of cash and other assets (0.2 ) Total 100.0Distribution rates(2) NAV distribution rate (DR)8.00 Market distribution rate (DR) 9.50 Portfolio statistics as of December 31, 2008, continued(1)Currency exposure Percentage ofnet assetsUnited States Dollar55.4 Euro27.0 Norwegian Krone 11.3 Japanese Yen10.9 Brazilian Real3.1Canadian Dollar (3.2 ) Malaysian Ringgit (4.8 ) Swedish Krona (5.0 ) Swiss Franc (6.7 ) Other (less than 3.0 of net assets per credit) 12.0 Total 100.0 Credit quality(3) Percentage ofnet assetsAAA 42.9 AA6.2A 15.8 BBB 4.5BB4.6B 3.3CCC and Below 1.6Non-rated 21.3 Liabilities, in excess of cash and other assets (0.2 ) Total 100.0 Characteristics Net asset value per share(2)$ 9.17 Market price per share(2) $ 7.72Modified duration(4)4.42 (1) The Fund is actively managed, and its portfolio composition will vary overtime. (2) Net asset value (NAV), market price, and distribution rates as a percentageof each will fluctuate. NAV distribution rate (DR) is calculated by multiplyingthe current months distribution by 12 and dividing by the month-end net assetvalue. Market distribution rate (DR) is calculated by multiplying the currentmonths distribution by 12 and dividing by the month-end market price.