SCHEDULE 14A

INFORMATION REQUIRED IN PROXY STATEMENT.

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934

Filed by the Registrant [X]
Filed by a party other than the Registrant [ ]

Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted
by Rule 14a-6(e)(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Rule 14a-12

STRATEGIC GLOBAL INCOME FUND, INC.
..................................................................
(Name of Registrant as Specified In Its Charter)

Payment of Filing Fee (Check the appropriate box):

[X] No fee required
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1)
and 0-11

(1) Title of each class of securities to which transaction
applies:

............................................................

(2) Aggregate number of securities to which transaction
applies:

.......................................................

(3) Per unit price or other underlying value of transaction
computed pursuant to Exchange Act Rule 0-11:

.......................................................

(4) Proposed maximum aggregate value of transaction:

.......................................................

(5) Total fee paid:

.......................................................

[ ] Fee paid previously with preliminary materials.

[ ] Check box if any part of the fee is offset as provided by
Exchange Act Rule 0-11(a)(2) and identify the filing for
which the offsetting fee was paid previously. Identify the
previous filing by registration statement number, or the
Form or Schedule and the date of its filing.

(1) Amount Previously Paid:

.......................................................

(2) Form, Schedule or Registration Statement No.:

.......................................................

(3) Filing Party:

.......................................................

(4) Date Filed:

.......................................................

STRATEGIC GLOBAL INCOME FUND, INC.
----------------
NOTICE OF
ANNUAL MEETING OF SHAREHOLDERS
MARCH 18, 2004
----------------

TO THE SHAREHOLDERS:

The annual meeting of shareholders of Strategic Global Income Fund, Inc.
(the 'Fund') will be held on March 18, 2004 at 10:00 a.m., Eastern time, on the
16th Floor of the CBS Building located at 51 West 52nd Street, New York, New
York 10019-6114 for the following purposes:

(1) To elect eight (8) directors to serve until the annual meeting of
shareholders in 2005, or until their successors are elected and qualified or
until they resign or are otherwise removed; and

(2) To transact such other business as may properly come before the
meeting or any adjournment thereof.

You are entitled to vote at the meeting and any adjournments thereof if you
owned Fund shares at the close of business on January 16, 2004. If you attend
the meeting, you may vote your shares in person. IF YOU DO NOT EXPECT TO ATTEND
THE MEETING, PLEASE COMPLETE, DATE, SIGN AND RETURN THE ENCLOSED PROXY CARD IN
THE ENCLOSED POSTAGE PAID ENVELOPE.

By order of the board of directors,

AMY R. DOBERMAN
Secretary

January 30, 2004
51 West 52nd Street
New York, New York 10019-6114

- --------------------------------------------------------------------------------

YOUR VOTE IS IMPORTANT
NO MATTER HOW MANY SHARES YOU OWN.

PLEASE INDICATE YOUR VOTING INSTRUCTIONS ON THE ENCLOSED PROXY CARD, DATE
AND SIGN IT, AND RETURN IT IN THE POSTAGE PAID ENVELOPE PROVIDED. If you sign,
date and return the proxy card but give no voting instructions, your shares
will be voted 'FOR' the nominees for director named in the attached proxy
statement and, in the proxies' discretion, either 'FOR' or 'AGAINST' any other
business that may properly arise at the annual meeting. IN ORDER TO AVOID THE
ADDITIONAL EXPENSE TO THE FUND OF FURTHER SOLICITATION, WE ASK YOUR
COOPERATION IN MAILING IN YOUR PROXY CARD PROMPTLY.

- --------------------------------------------------------------------------------

INSTRUCTIONS FOR SIGNING PROXY CARDS

The following general guidelines for signing proxy cards may be of
assistance to you and avoid the time and expense to the Fund of validating your
vote if you fail to sign your proxy card properly.

1. INDIVIDUAL ACCOUNTS: Sign your name exactly as it appears in the
registration on the proxy card.

2. JOINT ACCOUNTS: Either party may sign, but the name of the party signing
should conform exactly to the name shown in the registration on the proxy card.

3. ALL OTHER ACCOUNTS: The capacity of the individual signing the proxy card
should be indicated unless it is reflected in the form of registration. For
example:

<Table>
<Caption>
REGISTRATION VALID SIGNATURE
------------ ---------------

Corporate Accounts

(1) ABC Corp....................................... ABC Corp.
John Doe, Treasurer

(2) ABC Corp....................................... John Doe, Treasurer

(3) ABC Corp. c/o John Doe, Treasurer.............. John Doe

(4) ABC Corp. Profit Sharing Plan.................. John Doe, Trustee

Partnership Accounts

(1) The XYZ Partnership............................ Jane B. Smith, Partner

(2) Smith and Jones, Limited Partnership........... Jane B. Smith, General Partner

Trust Accounts

(1) ABC Trust Account.............................. Jane B. Doe, Trustee

(2) Jane B. Doe, Trustee u/t/d 12/18/78............ Jane B. Doe

Custodial or Estate Accounts

(1) John B. Smith, Cust. f/b/o
John B. Smith, Jr. UGMA/UTMA................... John B. Smith

(2) Estate of John B. Smith........................ John B. Smith, Jr., Executor
</Table>

STRATEGIC GLOBAL INCOME FUND, INC.
51 WEST 52ND STREET
NEW YORK, NEW YORK 10019-6114

-------------------

PROXY STATEMENT

-------------------

ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON MARCH 18, 2004

This proxy statement is furnished to the shareholders of Strategic Global
Income Fund, Inc. (the 'Fund') in connection with the board of directors'
solicitation of proxies to be used at the annual meeting of shareholders of the
Fund to be held on March 18, 2004, at 10:00 a.m., Eastern time, on the 16th
Floor of the CBS Building located at 51 West 52nd Street, New York, New York
10019-6114, or any adjournment or adjournments thereof. This proxy statement and
the related proxy card will first be mailed to shareholders on or about
January 30, 2004.

A majority of the shares outstanding on January 16, 2004, represented in
person or by proxy, must be present for the transaction of business at the
meeting. In the event that a quorum is not present at the annual meeting, or if
a quorum is present at the annual meeting but sufficient votes to approve any of
the proposals are not received, the persons named as proxies may propose one or
more adjournments of the annual meeting to permit further solicitation of
proxies. Any such adjournment will require the affirmative vote of a majority of
those shares represented at the annual meeting in person or by proxy. The
persons named as proxies will vote those proxies which they are entitled to vote
FOR any such proposal in favor of such an adjournment and will vote those
proxies marked WITHHOLD on any such proposal against such adjournment. A
shareholder vote may be taken on one or more of the proposals in this proxy
statement prior to any such adjournment if sufficient votes have been received
and it is otherwise appropriate.

Broker non-votes are shares held in street name for which the broker
indicates that instructions have not been received from the beneficial owners or
other persons entitled to vote and for which the broker does not have
discretionary voting authority. Abstentions and broker non-votes will be counted
as shares present for purposes of determining whether a quorum is present but
will not be voted for or against any adjournment or proposal. Accordingly,
abstentions and broker non-votes effectively will be a vote against adjournment
but will have no effect on Proposal 1, for which the required vote is a
plurality of the votes cast on the matter.

The individuals named as proxies on the enclosed proxy card will vote in
accordance with your direction as indicated thereon if your proxy card is
received properly executed by you or by your duly appointed agent or
attorney-in-fact. If you give no voting instructions, your shares will be voted
FOR the eight nominees for directors named herein and, in the proxies'
discretion, either FOR or AGAINST any other business that may properly arise at
the annual meeting. You may revoke any proxy card by giving another proxy or by
submitting a written notice of revocation to the Fund's Secretary at UBS Global
Asset Management (US) Inc., 51 West 52nd Street, New York, New York 10019-6114.
To be effective, your revocation must be received by the Fund prior to the
meeting and must indicate your name and account number. In addition, if you
attend the annual meeting in person you may, if you wish, vote by ballot at the
meeting, thereby cancelling any proxy previously given.

As of the record date, January 16, 2004, the Fund had 18,258,828 shares of
common stock outstanding. The solicitation of proxies, the cost of which will be
borne by the Fund, will be made primarily by mail but also may include telephone
and oral communications by regular employees of UBS Global Asset Management (US)
Inc. ('UBS Global AM') or UBS Financial Services Inc., who will not receive any

compensation therefor from the Fund. Management does not know of any person who
owns beneficially 5% or more of the shares of the Fund. Each full share of the
Fund outstanding is entitled to one vote, and each fractional share of the Fund
outstanding is entitled to a proportionate share of one vote.

UBS Global AM serves as the Fund's investment advisor and administrator. UBS
Global AM is an indirect wholly owned asset management subsidiary of UBS AG. UBS
AG is an internationally diversified organization with headquarters in Zurich,
Switzerland. UBS AG operates in many areas of the financial services industry.
The principal business offices of UBS Global AM are located at 51 West
52nd Street, New York, New York 10019-6114. The principal business address of
UBS AG is Bahnhofstrasse 45, Zurich, Switzerland.

The Fund's annual report containing financial statements for the fiscal year
ended November 30, 2003, is being mailed to shareholders concurrently with this
proxy statement.

PROPOSAL 1. ELECTION OF DIRECTORS

Proposal 1 relates to the election of directors of the Fund. Management
proposes the election of the eight nominees named in the table below. Each
nominee has indicated his or her willingness to serve if elected. If elected,
each nominee will hold office until the next annual meeting of shareholders or
until his or her successor is elected and qualified, or until he or she resigns
or is otherwise removed. Each of the nominees, except for Mr. Storms, was last
elected director at the Fund's March 2003 Annual Meeting of Shareholders. Mr.
Storms was appointed a director by the current board effective June 30, 2003,
and is being nominated for election by shareholders at the March 2004 Annual
Meeting. Mr. Storms previously served as a director of the Fund from 1999 to
2001. Unless you give contrary instructions on the enclosed proxy card, your
shares will be voted FOR the election of all eight nominees. If any of the
nominees should withdraw or otherwise become unavailable for election, your
shares will be voted FOR such other nominee or nominees as management may
recommend.

Directors, including those who are not 'interested persons' of the Fund as
that term is defined in the Investment Company Act of 1940, as amended ('1940
Act') ('Independent Directors'), shall be elected by the affirmative vote of the
holders of a plurality of the shares of the Fund cast in person or by proxy and
entitled to vote thereon, provided a quorum is present. Proxies cannot be voted
for a greater number of persons than the number of nominees named. None of the
current directors and executive officers (17 persons) beneficially owned any
shares of the Fund on December 31, 2003.

Listed in the table below, for each nominee, is a brief description of the
nominee's experience as a director of the Fund and as a director or trustee of
other funds, as well as other recent professional experience.

<Table>
<Caption>
LENGTH NUMBER OF
POSITION(S) OF PRINCIPAL PORTFOLIOS IN FUND OTHER
HELD WITH TIME OCCUPATION(S) COMPLEX OVERSEEN DIRECTORSHIPS
NAME, ADDRESS, AND AGE FUND SERVED DURING PAST 5 YEARS BY NOMINEE HELD BY NOMINEE
---------------------- ---- ------ ------------------- ---------- ---------------

INTERESTED DIRECTORS:
Margo N. Alexander*'D'; 56 Director Since Mrs. Alexander is Mrs. Alexander is a None
1996 retired. She was an director or trustee
executive vice of 17 investment
president of UBS companies (consisting
Financial Services of 37 portfolios) for
Inc. (from March 1984 which UBS Global AM
to December 2002). or one of its
She was chief affiliates serves as
executive officer investment advisor,
(from January 1995 to sub-advisor or
October 2000), a manager.
director (from
January 1995 to
September 2001) and
chairman (from March
1999 to September
2001) of UBS Global
AM (formerly known as
Mitchell Hutchins
Asset Management
Inc.).

Brian M. Storms*'D'; 49 Director Since Mr. Storms is chief Mr. Storms is a None
and 2003 executive officer of director or trustee
Chairman of UBS Global Asset of 21 investment
the Board Management -- companies (consisting
of Americas region of 80 portfolios), and
Directors (since July 2002). serves as chairman of
Mr. Storms was chief the boards of 17 of
executive officer, those investment
president and/or companies (consisting
chief operating of 37 portfolios),
officer of UBS for which UBS Global
Global AM and AM or one of its
certain affiliated affiliates serves as
asset management investment advisor,
companies from 1999 sub-advisor or
to July 2002. From manager.
1996 to 1999, he was
president of
Prudential
Investments.

INDEPENDENT DIRECTORS:
Richard Q. Armstrong; 68 Director Since Mr. Armstrong is Mr. Armstrong is a None
c/o Willkie Farr & 1996 chairman and director or trustee
Gallagher LLP principal of R.Q.A. of 17 investment
787 Seventh Avenue Enterprises companies (consisting
New York, New York (management of 37 portfolios) for
10019-6099 consulting firm) which UBS Global AM
(since April 1991 and or one of its
principal occupation affiliates serves as
since March 1995). investment advisor,
sub-advisor or
manager.
</Table>

David J. Beaubien; 69 Director Since Mr. Beaubien is Mr. Beaubien is a Mr. Beaubien is also
84 Doane Road 2001 retired. From 1991 to director or trustee a director of IEC
Ware, MA 01082 2003, he was chairman of 17 investment Electronics, Inc., a
of Yankee companies (consisting manufacturer of
Environmental of 37 portfolios) for electronic
Systems, Inc., a which UBS Global AM assemblies.
manufacturer of or one of its
meteorological affiliates serves as
measuring systems. investment advisor,
sub-advisor or
manager.

Richard R. Burt; 56 Director Since Mr. Burt is chairman Mr. Burt is a Mr. Burt is also a
1275 Pennsylvania Ave., 1996 of Diligence LLC director or trustee director of Hollinger
N.W. (international of 17 investment International Inc.
Washington, D.C. 20004 information and companies (consisting (publishing), HCL
security firm) and of 37 portfolios) for Technologies, Ltd.
IEP Advisors which UBS Global AM (software and
(international or one of its information
investments and affiliates serves as technologies), The
consulting firm). investment advisor, Central European
sub-advisor or Fund, Inc., The
manager. Germany Fund, Inc.,
IGT, Inc. (provides
technology to gaming
and wagering
industry) and
chairman of Weirton
Steel Corp. (makes
and finishes steel
products). He is also
a director or trustee
of funds in the
Scudder Mutual Funds
Family (consisting of
47 portfolios).

Meyer Feldberg; 61 Director Since Mr. Feldberg is Dean Dean Feldberg is a Dean Feldberg is also
Columbia University 1992 and Professor of director or trustee a director of
101 Uris Hall Management of the of 35 investment Primedia Inc.
New York, New York 10027 Graduate School of companies (consisting (publishing),
Business, Columbia of 51 portfolios) for Federated Department
University (since which UBS Global AM Stores, Inc.
1989). or one of its (operator of
affiliates serves as department stores),
investment advisor, Revlon, Inc.
sub-advisor or (cosmetics), Select
manager. Medical Inc.
(healthcare services)
and SAPPI, Ltd.
(producer of paper).
</Table>

Carl W. Schafer; 68 Director Since Mr. Schafer is Mr. Schafer is a Mr. Schafer is also a
66 Witherspoon Street 1996 president of the director or trustee director of Labor
#1100 Atlantic Foundation of 17 investment Ready, Inc.
Princeton, NJ 08542 (charitable companies (consisting (temporary
foundation) (since of 37 portfolios) for employment), Guardian
1990). which UBS Global AM Life Insurance
or one of its Company Mutual Funds
affiliates serves as (consisting of 25
investment advisor, portfolios), the
sub-advisor or Harding, Loevner
manager. Funds (consisting of
three portfolios),
E.I.I. Realty
Securities Trust
(investment company)
and Frontier Oil
Corporation.

William D. White; 70 Director Since Mr. White is retired Mr. White is a None
P.O. Box 199 2001 (since 1994). director or trustee
Upper Black Eddy, PA 18972 of 17 investment
companies (consisting
of 37 portfolios) for
which UBS Global AM
or one of its
affiliates serves as
investment advisor,
sub-advisor or
manager.
</Table>

- ---------

* This person's business address is 51 West 52nd Street, New York, New York
10019-6114.

'D' Mrs. Alexander and Mr. Storms are 'interested persons' of the Fund as
defined in the 1940 Act by virtue of their current or former positions with
UBS Global AM and/or any of its affiliates.

INFORMATION ABOUT NOMINEE OWNERSHIP OF FUND SHARES

<Table>
<Caption>
AGGREGATE DOLLAR RANGE OF EQUITY SECURITIES IN ALL
DOLLAR RANGE REGISTERED INVESTMENT COMPANIES OVERSEEN BY
OF EQUITY NOMINEE FOR WHICH UBS GLOBAL AM OR AN
SECURITIES AFFILIATE SERVES AS INVESTMENT ADVISOR,
NOMINEE IN FUND'D' SUB-ADVISOR OR MANAGER'D'
- -------------------------------------- ------------ --------------------------------------------------

INTERESTED DIRECTORS:
Margo N. Alexander.................... None Over $100,000
Brian M. Storms....................... None $1 - $10,000
INDEPENDENT DIRECTORS:
Richard Q. Armstrong.................. None Over $100,000
David J. Beaubien..................... None Over $100,000
Richard R. Burt....................... None None
Meyer Feldberg........................ None Over $100,000
Carl W. Schafer....................... None $50,001 - $100,000
William D. White...................... None $10,001 - $50,000
</Table>

- ---------

'D' Information regarding ownership of shares of the Fund is as of December 31,
2003; information regarding ownership of shares in all registered investment
companies overseen by nominee for which UBS Global AM or an affiliate serves
as investment advisor, sub-advisor or manager is as of December 31, 2003.

As of December 31, 2003, the Independent Directors did not own any
securities issued by UBS Global AM or any company controlling, controlled by or
under common control with UBS Global AM.

The board of directors of the Fund met five times during the fiscal year
ended November 30, 2003. Each director attended 75% or more of the board
meetings during the last fiscal year. The board has established an Audit and
Contract Review Committee that acts pursuant to a written charter and is
responsible for, among other things: (i) overseeing the scope of the Fund's
audit; (ii) overseeing the Fund's accounting and financial reporting policies,
practices and internal controls; (iii) approving, and recommending to the board
for ratification, the selection, appointment, retention or termination of the
Fund's independent auditors, as well as determining the compensation thereof;
and (iv) reviewing the performance by certain of the Fund's service providers of
their contracts and arrangements with the fund. A copy of the Audit and Contract
Review Committee's charter is attached as Exhibit A. In fulfilling its duties,
the Audit and Contract Review Committee has: (a) reviewed and discussed the
Fund's audited financial statements with management; (b) discussed with the
independent auditors the matters required to be discussed by Statement on
Auditing Standards No. 61; (c) received certain written disclosures and the
letter from the independent auditors required by Independence Standards Board
Standard No. 1 and discussed the independent auditors' independence with them;
and (d) based upon its review of the above, recommended to the board that the
Fund's audited financial statements be included in the Fund's annual report to
shareholders for the fiscal year ended November 30, 2003. The Audit and Contract
Review Committee currently consists of Messrs. Armstrong, Beaubien, Burt,
Feldberg, Schafer and White, none of whom have any relationship to the Fund that
may interfere with the exercise of their independence from management or the
Fund and each of whom is independent as defined under the listing standards of
the New York Stock Exchange. Each member of the Fund's Audit and Contract Review
Committee is also a member of a similar committee established by the boards of
certain other investment companies for which UBS Global AM or an affiliate
serves as investment advisor, sub-advisor or manager. The Audit and Contract
Review Committee met six times during the fiscal year ended November 30, 2003
and each member attended those meetings.

The board has also established a Nominating Committee that acts pursuant to
a written charter. The Nominating Committee is responsible for selecting and
nominating for consideration by the full Board candidates to be considered for
election/appointment as additional Independent Directors of the Board. A copy of
the Nominating Committee's charter is attached as Exhibit B. The Nominating
Committee currently consists of Messrs. Feldberg, Schafer and White. None of the
members of the Nominating Committee is an 'interested person' of the Fund as
that term is defined in the 1940 Act. Each of the members of the Nominating
Committee is independent as defined under the listing standards of the New York
Stock Exhcange. The Nominating Committee did not meet during the fiscal year
ended November 30, 2003. The Nominating Committee will consider nominees
recommended by shareholders if a vacancy among the Independent Directors occurs.
Currently, there are no vacancies. In order to recommend a nominee, a
shareholder should send a letter to the chairperson of the Nominating Committee,
Mr. Meyer Feldberg, care of the Secretary of the Fund at UBS Global Asset
Management (US) Inc., 51 West 52nd Street, New York, New York 10019-6114, and
indicate on the envelope 'Nominating Committee.' The shareholder's letter should
state the nominee's name and should include the nominee's resume or curriculum
vitae. The Nominating Committee may consider a variety of factors in evaluating
a potential nominee, but it has not set any specific minimum qualifications that
must be met by a Nominating Committee-recommended director nominee. Other than
as described in its charter, the Nominating Committee has not adopted a formal
process for identifying and evaluating director nominees, including nominees
recommended by security holders. The Nominating Committee does not evaluate
nominees for director differently based on whether

the nominee is recommended by a security holder.

Shareholders may send other communications to the board by sending a letter
to the chairperson of the Audit and Contract Review Committee, Mr. Richard Q.
Armstrong, care of Willkie Farr & Gallagher LLP, 787 Seventh Avenue, New York,
New York 10019-6099. The chairperson of the Audit and Contract Review Committee
will evaluate which shareholder communications are relayed to the other board
members. The Fund has not adopted a formal policy with regard to board members'
attendance at annual meetings. Board members are welcome to attend annual
meetings if they choose to do so. None of the board members attended the 2003
Annual Meeting of Shareholders. The board does not have a standing compensation
committee.

Each Independent Director receives, in the aggregate from the UBS Global AM
funds, an annual retainer of $70,000, and a $13,000 fee for each regular board
meeting (and each in-person special board meeting) actually attended.
Independent Directors who participate in previously scheduled in-person meetings
by telephone to accommodate other business obligations are paid $2,000 for
such meetings. Independent Directors who participate in previously scheduled
in-person meetings by telephone because of illness or other unavoidable
circumstances are paid the full meeting fee. The chairperson of the Audit and
Contract Review Committee receives annually $25,000. The chairperson of the
Nominating Committee receives annually $10,000. The foregoing fees will be
allocated among all such funds (or each relevant fund in the case of a special
meeting) as follows: (i) one-half of the expense will be allocated pro rata
based on the funds' relative net assets at the end of the calendar quarter
preceding the date of payment and (ii) one-half of the expense will be allocated
according to the number of such funds (i.e., expense divided by number of funds
yields per fund allocation). No officer, director or employee of UBS Global AM
or one of its affiliates presently receives any compensation from the Fund for
acting as a board member or officer. All board members are reimbursed for
expenses incurred in attending meetings.

Each director who has attained the age of seventy-two (72) years will be
subject to retirement on the last day of the month in which he or she attains
such age. The table below includes certain information relating to the
compensation of the Fund's directors.

COMPENSATION TABLE'D'

<Table>
<Caption>
AGGREGATE TOTAL
COMPENSATION COMPENSATION FROM
NAME OF FROM THE FUND AND
PERSON, POSITION THE FUND* THE FUND COMPLEX**
- ----------------------------------------------------------- ------------ ------------------

Richard Q. Armstrong, Director............................. $789 $112,500
David J. Beaubien, Director................................ $710 $100,000
Richard R. Burt, Director.................................. $710 $100,000
Meyer Feldberg, Director................................... $700 $200,125
Carl W. Schafer, Director.................................. $710 $100,000
William D. White, Director................................. $710 $100,000
</Table>

- ---------

'D' Only Independent Directors are compensated by the funds for which UBS
Global AM or an affiliate serves as investment advisor, sub-advisor or
manager; directors who are 'interested persons,' as defined by the 1940
Act, do not receive compensation from the funds.
(footnotes continued on next page)

(footnotes continued from previous page)

* Represents fees paid to each director during the fiscal year ended November
30, 2003.

** Represents fees paid during the calendar year ended December 31, 2003 to each
board member by: (a) 22 investment companies in the case of Messrs.
Armstrong, Beaubien, Burt, Schafer and White; and (b) 36 investment companies
in the case of Mr. Feldberg for which UBS Global AM or one of its affiliates
served as investment advisor, sub-advisor or manager. No fund within the UBS
fund complex has a bonus, pension, profit sharing or retirement plan.

INFORMATION CONCERNING INDEPENDENT AUDITORS

The Fund's financial statements for the fiscal year ended November 30, 2003,
were audited by Ernst & Young LLP ('Ernst & Young'), independent auditors. In
addition, Ernst & Young prepares the Fund's federal and state annual income tax
returns and provides certain non-audit services. The Audit and Contract Review
Committee has considered whether the provision of those non-audit services is
compatible with maintaining Ernst & Young's independence. The Audit and Contract
Review Committee and the board of directors of the Fund are expected to consider
the selection of Ernst & Young as the independent auditors for the Fund for the
fiscal year ended November 30, 2004 at their February 2004 meetings. Ernst &
Young has been the Fund's independent auditors since the Fund's inception in
October 1992. Ernst & Young has informed the Fund that it has no material direct
or indirect financial interest in the Fund.

Representatives of Ernst & Young are not expected to be present at the
meeting but have been given the opportunity to make a statement if they so
desire and will be available should any matter arise requiring their presence.

AUDIT FEES

The aggregate fees billed by Ernst & Young for professional services
rendered for the audit of the Fund's annual financial statements for the most
recent fiscal year and the review of the financial statements included in the
Fund's reports to shareholders were approximately $37,000.

FINANCIAL INFORMATION SYSTEMS DESIGN AND IMPLEMENTATION FEES

There were no fees billed by Ernst & Young for the most recent fiscal year
for professional services rendered for financial information systems design and
implementation services provided to the Fund, UBS Global AM and entities that
control, are controlled by or are under common control with UBS Global AM that
provide services to the Fund.

ALL OTHER FEES

There were approximately $109,100 in fees billed by Ernst & Young for the
most recent fiscal year for other services provided to the Fund, UBS Global AM
and entities that control, are controlled by or are under common control with
UBS Global AM that provide services to the Fund.

EXECUTIVE OFFICERS

Officers of the Fund are appointed by the directors and serve at the
pleasure of the board. None of the Fund's officers currently receives any
compensation from the Fund. The executive officers of the Fund are:

<Table>
<Caption>
PRINCIPAL OCCUPATION(S) DURING PAST 5 YEARS;
POSITION(S) HELD LENGTH OF NUMBER OF PORTFOLIOS IN FUND COMPLEX
NAME, ADDRESS, AND AGE WITH THE FUND TIME SERVED FOR WHICH PERSON SERVES AS OFFICER
- ---------------------------------- ---------------- ----------- ---------------------------------------------

W. Douglas Beck*; 36 Vice President Since 2003 Mr. Beck is an executive director and head of
mutual fund product management of UBS Global
AM (since 2002). From March 1998 to November
2002, he held various positions at Merrill
Lynch, the most recent being first vice
president and co-manager of the managed
solutions group. Mr. Beck is vice president
of 20 investment companies (consisting of 78
portfolios) for which UBS Global AM or one of
its affiliates serves as investment advisor,
sub-advisor or manager.

Thomas Disbrow*; 37 Vice President Since 2000 Mr. Disbrow is a director and a senior
and Assistant manager of the mutual fund finance
Treasurer department of UBS Global AM. Prior to
November 1999, he was a vice president of
Zweig/Glaser Advisers. Mr. Disbrow is a
vice president and assistant treasurer of
17 investment companies (consisting of 37
portfolios) for which UBS Global AM or one
of its affiliates serves as investment
advisor, sub-advisor or manager.

Amy R. Doberman*; 41 Vice President Since 2000 Ms. Doberman is a managing director and
and Secretary general counsel of UBS Global AM. From
December 1997 through July 2000, she was
general counsel of Aeltus Investment
Management, Inc. Ms. Doberman is vice
president and assistant secretary of five
investment companies (consisting of 44
portfolios) and vice president and
secretary of 17 investment companies
(consisting of 37 portfolios) for which
UBS Global AM or one of its affiliates
serves as investment advisor, sub-advisor
or manager.
</Table>

David M. Goldenberg*; 37 Vice President Since 2002 Mr. Goldenberg is an executive director and
and Assistant deputy general counsel of UBS Global AM. From
Secretary 2000 to 2002 he was director, legal affairs
at Lazard Asset Management. Mr. Goldenberg
served in various capacities, including most
recently as global director of compliance, at
SSB Citi Asset Management Group from 1996 to
2000. Mr. Goldenberg is vice president and
secretary of five investment companies
(consisting of 44 portfolios); and a vice
president and assistant secretary of 17
investment companies (consisting of 37
portfolios) for which UBS Global AM, or one
of its affiliates serves as investment
advisor, sub-advisor or manager.

Kevin J. Mahoney*; 38 Vice President Since 1999 Mr. Mahoney is a director and a senior
and Assistant manager of the mutual fund finance department
Treasurer of UBS Global AM. Prior to April 1999, he was
the manager of the mutual fund internal
control group of Salomon Smith Barney. Mr.
Mahoney is a vice president and assistant
treasurer of 17 investment companies
(consisting of 37 portfolios) for which UBS
Global AM or one of its affiliates serves as
investment advisor, sub-advisor or manager.

John Penicook**; 45 Vice President Since 2002 Mr. Penicook is a managing director and head
of fixed income of UBS Global Asset
Management (Americas) Inc. and UBS Global AM.
Mr. Penicook is a vice president of three
investment companies (consisting of three
portfolios) for which UBS Global AM or one of
its affiliates serves as investment advisor,
sub-advisor or manager.

Paul H. Schubert*; 41 Vice President Since 1994 Mr. Schubert is an executive director and
and Treasurer head of the mutual fund finance department of
UBS Global AM. Mr. Schubert is treasurer and
principal accounting officer of three
investment companies (consisting of 41
portfolios), a vice president and treasurer
of 18 investment companies (consisting of 38
portfolios), and treasurer and chief
financial officer of one investment company
(consisting of two portfolios) for which UBS
Global AM or one of its affiliates serves as
investment advisor, sub-advisor or manager.
</Table>

Joseph A.Varnas*; 36 President Since 2003 Mr. Varnas is a managing director (since
March 2003); chief technology officer (since
March 2001) and head of product, technology
and operations of UBS Global AM (since
November 2002). From 2000 to 2001, he was
manager of product development in Investment
Consulting Services at UBS Financial
Services Inc. Mr. Varnas was a senior analyst
in the Global Securities Research and
Economics Group at Merrill Lynch from 1995 to
1999. Mr. Varnas is president of 21
investment companies (consisting of 79
portfolios) for which UBS Global AM or one of
its affiliates serves as investment advisor,
sub-advisor or manager.

Keith A. Weller*; 42 Vice President Since 1995 Mr. Weller is a director and senior associate
and Assistant general counsel of UBS Global AM. Mr. Weller
Secretary is a vice president and assistant secretary
of 17 investment companies (consisting of 37
portfolios) for which UBS Global AM or one of
its affiliates serves as investment advisor,
sub-advisor or manager.
</Table>

- ---------

* This person's business address is 51 West 52nd Street, New York, New York
10019-6114.
** This person's business address is One North Wacker Drive, Chicago, Illinois
60606.

SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

An initial report under Section 16(a) of the Securities Exchange Act of 1934
was not timely filed for Mr. Varnas. This delayed report did not involve any
transactions in the Fund's common stock but rather related to his election as an
officer.

SHAREHOLDER PROPOSALS

Any shareholder who wishes to submit proposals to be considered at the
Fund's 2005 annual meeting of shareholders should send such proposals to the
Secretary of the Fund at UBS Global Asset Management (US) Inc., 51 West 52nd
Street, New York, New York 10019-6114. In order to be considered at that
meeting, shareholder proposals must be received by the Fund no later than
October 1, 2004 and must satisfy other requirements of the federal securities
laws.

OTHER BUSINESS

Management knows of no business to be presented at the meeting other than
the matters set forth in this proxy statement, but should any other matter
requiring a vote of shareholders arise, the proxies will vote thereon according
to their best judgment in the interest of the Fund.

By order of the board of directors,

AMY R. DOBERMAN
Secretary

January 30, 2004

----------------------------------------------------------------
IT IS IMPORTANT THAT YOU EXECUTE AND RETURN YOUR PROXY PROMPTLY.
----------------------------------------------------------------

EXHIBIT A

AUDIT AND CONTRACT REVIEW COMMITTEE CHARTER
AMENDED AND RESTATED AS OF MAY 8, 2003

ESTABLISHMENT AND PURPOSE

This document serves as the Charter for the Audit and Contract Review
Committee (the 'Committee') of the Board of each fund (the 'Fund') advised by
UBS Global Asset Management (US) Inc. ('UBS Global') listed on Appendix A hereto
(each such Charter being a separate Charter). The primary purposes of the
Committee are to (a) oversee the scope of the Fund's audit, the quality and
objectivity of the Fund's financial statements, the Fund's accounting and
financial reporting policies and practices and its internal controls and, as
appropriate, the internal controls of certain service providers; (b) approve,
and recommend to the Board, for ratification, the selection, appointment,
retention or termination of the Fund's independent auditors, as well as
determining the compensation thereof; (c) pre-approve all audit and non-audit
services provided to the Fund and certain other persons by such independent
auditors; and (d) review the performance by certain service providers and
approve their contracts and arrangements with the Fund.

With respect to its contract review function, the Committee will consider
the performance of UBS Global, the Fund's adviser, administrator and
distributor(1); the Fund's sub-advisors, if any; and, as deemed necessary or
appropriate by the Committee, any other service providers. The Committee will
determine whether compensation paid by the Fund pursuant to its contracts and
arrangements is reasonable and appropriate in light of the nature and quality of
the services rendered.

DUTIES AND RESPONSIBILITIES

AUDIT OVERSIGHT

The Fund's independent auditors are accountable to the Committee.

The Committee shall:

1. Approve, and recommend to the Board for the Board's ratification, the
selection, appointment, retention or termination of the Fund's
independent auditors, or of any other public accounting firm engaged for
the purpose of performing other audit, review or attest services for the
Fund.

2. Pre-approve (a) all audit and permissible non-audit services(2) to be
provided to the Fund and (b) all permissible non-audit services to be
provided by the Fund's independent auditors to UBS Global and any Covered
Service Providers, if the engagement relates directly to the operations
and financial reporting of the Fund. In carrying out this responsibility,
the Committee shall seek periodically from UBS Global and from the
independent auditors a list of such audit and permissible non-audit
services that can be expected to be rendered to the Fund, UBS Global or
any Covered Service Providers by

- ---------
(1) Open-end Funds only.

(2) The Committee will not approve non-audit services that the Committee
believes may taint the independence of the auditors. Currently, permissible
non-audit services include any professional services (including tax
services) that are not prohibited services as described below, provided to
the Fund by the independent auditors, other than those provided to the Fund
in connection with an audit or a review of the financial statements of the
Fund. Permissible non-audit services may not include: (i) bookkeeping or
other services related to the accounting records or financial statements of
the Fund; (ii) financial information systems design and implementation;
(iii) appraisal or valuation services, fairness opinions or
contribution-in-kind reports; (iv) actuarial services; (v) internal audit
outsourcing services; (vi) management functions or human resources; (vii)
broker or dealer, investment adviser or investment banking services;

A-1

the Fund's independent auditors, and an estimate of the fees sought to be
paid in connection with such services. The Committee may delegate its
responsibility to pre-approve any such audit and permissible non-audit
services to a sub-committee consisting of the Chairperson of the Committee
and two other members of the Committee as the Chairperson, from time to
time, may determine and appoint, and such sub-committee shall report to
the Committee, at its next regularly scheduled meeting after the
sub-committee's meeting, its decision(s). From year to year, the Committee
shall report to the Board whether this system of pre-approval has been
effective and efficient or whether this Charter should be amended to allow
for pre-approval pursuant to such policies and procedures as the Committee
shall approve, including the delegation of some or all of the Committee's
pre-approval responsibilities to other persons (other than UBS Global
or the Fund's officers).

3. Discuss with the independent auditors any disclosed relationships or
services that may diminish the objectivity and independence of the
independent auditors; receive periodic reports from the independent
auditors regarding the independent auditors' independence (including
receiving the independent auditors' specific representations as to
independence consistent with current statements of the Independence
Standards Board); and discuss such reports with the independent auditors,
and, if so determined by the Committee, recommend that the Board take
appropriate action to ensure the independence of the independent
auditors.

4. Review, in consultation with the independent auditors, the scope of the
Fund's proposed audit each year, including the audit procedures to be
utilized, and certain other matters in connection with the Fund's
financial statements.

5. Inquire of UBS Global and the independent auditors as to the Fund's
qualification under Subchapter M of the Internal Revenue Code and amounts
distributed and reported to shareholders for Federal tax purposes.

6. Review with the independent auditors any problems or difficulties the
auditors may have encountered during the conduct of the audit, relating
to the conduct of the audit, including any matters required to be
discussed pursuant to Statement of Auditing Standards No. 61, or any
subsequent Statement.

7. Ensure that the independent auditors submit on a periodic basis to the
Committee a formal written statement delineating all relationships of the
auditors consistent with Independence Standards Board Standard No. 1, or
any subsequent Statement.

8. Review, in consultation, as appropriate, with the independent auditors
and Fund service providers, matters relating to internal controls and
disclosure controls and procedures at the Fund and at the Fund's service
providers.

9. Request, receive and/or review from the independent auditors such other
materials as deemed necessary or advisable by the Committee in the
exercise of its duties under this charter; such

----------
(viii) legal services and expert services unrelated to the audit; and (ix) any
other service the Public Company Accounting Oversight Board determines, by
regulation, is impermissible.

Pre-approval by the Committee of any permissible non-audit services is not
required so long as: (i) the aggregate amount of all such permissible non-audit
services provided to the Fund, UBS Global and any service providers controlling,
controlled by or under common control with UBS Global that provide ongoing
services to the Fund ('Covered Service Providers') constitutes not more than 5%
of the total amount of revenues paid to the independent auditors (during the
fiscal year in which the permissible non-audit services are provided) by (a) the
Fund, (b) its investment adviser and (c) any entity controlling, controlled by,
or under common control with the investment adviser that provides ongoing
services to the Fund during the fiscal year in which the services are provided
that would have to be approved by the Committee; (ii) the permissible non-audit
services were not recognized by the Fund at the time of the engagement to be
non-audit services; and (iii) such services are promptly brought to the
attention of the Committee and approved by the Committee (or its delegate(s))
prior to the completion of the audit.

A-2

materials may include, without limitation, any other material written
communications bearing on the Fund's financial statements, or internal or
disclosure controls, between the independent auditors and the Fund, UBS
Global, the Fund's sub-adviser(s), if any, or other Fund service
providers, such as any management letter or schedule of unadjusted
differences, and any comment or 'deficiency' letter received from a
regulatory or self-regulatory organization addressed to the Fund, UBS
Global or the Fund's sub-adviser(s), if any, that relates to services
rendered to the Fund.

10. [Closed-end Funds only] Establish procedures for the receipt, retention
and treatment of complaints that the Fund may receive regarding Fund
accounting, internal accounting controls or auditing matters, including
procedures for the confidential, anonymous submission by Fund officers
or employees or Fund service providers of concerns regarding
questionable accounting or auditing matters related to the Fund.

11. Request that the independent auditors report to the Committee on any
unusual items or matters discovered during the course of any semi-annual
or other reviews.

12. [Closed-end Funds only] Consider and, if appropriate, recommend the
publication of the Fund's annual audited financial statements in the
Fund's annual report in advance of the printing and publication of the
annual report, based on its review and discussions of such annual report
with the independent auditors, the Fund's officers and UBS Global.

13. Review and reassess the adequacy of this Charter annually and recommend
any proposed changes to the Board for approval.

CONTRACT REVIEW

1. Request such information as is deemed relevant by the Committee regarding
the performance of each of the contracts and arrangements required to be
reviewed and approved by the Board.

2. Review all information and data provided by the service providers in
connection with their performance of these contracts and arrangements.

3. Meet with such representatives of the service providers as the Committee
deems necessary.

4. Make recommendations to the Board concerning the initial approval and/or
continuation of each of the proposed contracts and arrangements and the
reasonableness and appropriateness of the proposed fees.

5. Consider such other matters as the Committee may deem appropriate in
carrying out the above responsibilities and any other matters that may be
assigned to it by the Board.

In performing its duties, the Committee shall be provided by UBS Global, the
Fund's sub-advisor(s), if any, or the Fund, as applicable, with such
information, data and services as the Committee shall request to discharge its
duties and responsibilities, shall consult as it deems appropriate with the
members of the Board, officers and employees of the Fund, UBS Global, the Fund's
sub-advisor(s), if any, the Fund's counsel and the Fund's other service
providers and, as it determines necessary to carry out its duties and at the
Fund's expense, may engage outside advisors and consultants. The Fund shall
provide appropriate funding for the Committee to carry out its duties and
responsibilities.

A-3

COMPOSITION

The Committee shall be composed of each Board member who has been determined
not to be an 'interested person,' as that term is defined in Section 2(a)(19) of
the Investment Company Act of 1940, as amended ('1940 Act'), of the Fund (the
'Independent Board Members'). Each member of the Committee must also meet the
independence and experience requirements as set forth in
Section 303.01(b)(2)(a) of the New York Stock Exchange's Listed Company Manual.
The Committee shall elect a chairperson, who shall preside over Committee
meetings (the 'Chairperson'). The Chairperson shall serve for a term of three
years, which term may be renewed from time to time.(3)

In addition, the Board shall use its best efforts to ensure that at least
one member of the Committee is an 'audit committee financial expert,' as
determined under the rules of the Securities and Exchange Commission.
Appendix B sets forth the audit committee financial expert requirements as of
the date of this amended and restated Charter. In the event that the Committee
does not have at least one such audit committee financial expert, the nominating
committee of the Board shall endeavor to identify and recommend to the Board a
candidate that meets such requirements or, in the event the Board does not, at
such time, have a nominating committee, the Board shall designate the
Independent Board Members as a committee to identify and recommend to the Board
a candidate that meets such requirements.

MEETINGS

The Committee shall meet on a regular basis, but not less frequently than
twice a year. Special meetings may also be held upon reasonable notice to the
members of the Committee. An agenda shall be established for each meeting.
Additional meetings shall be called as circumstances require. The Committee may
request any officer or employee of the Fund, the Fund's counsel, UBS Global, the
Fund's sub-adviser(s), if any, the Fund's independent auditors or other
interested persons to attend a meeting of the Committee or to meet with any
members of, or consultants to, the Committee. The Committee will meet with the
Fund's independent auditors at least once a year outside the presence of the
Fund's officers and other parties. The Committee may, in its discretion, also
meet outside the presence of the Fund's officers and other parties at other
times. Meetings of the Committee may be held in person, by telephone or by other
appropriate means.

One-third of the Committee's members shall constitute a quorum. At any
meeting of the Committee, the decision of a majority of the members present and
voting shall be determinative as to any matter submitted to a vote.

REPORTING

The Chairperson shall report to the Board on the result of its deliberations
and make such recommendations as deemed appropriate.

LIMITS ON ROLE OF COMMITTEE

While the Committee has the duties and responsibilities set forth in this
Charter, the Committee is not responsible for planning or conducting the Fund's
audit or for determining whether the Fund's financial statements are complete
and accurate and are in accordance with generally accepted accounting
principles. In fulfilling their responsibilities hereunder, it is recognized
that the members of the Committee are not

- ---------
(3) In the case of a newly-organized UBS fund, the Chairperson's term will be
coterminous with those of the other UBS funds listed on Schedule A, even if
such term is shorter than three years.

A-4

full-time employees of the Fund, it is not the duty or the responsibility of the
Committee or its members to conduct 'field work' or other types of auditing or
accounting reviews or procedures or to set auditor independence standards, and
each member of the Committee shall be entitled to rely on (a) the integrity of
those persons within and outside the Fund from which it receives information;
(b) the accuracy of the financial and other information provided to the
Committee absent actual knowledge to the contrary (which shall be promptly
reported to the Board); and (c) statements made by the officers and employees of
the Fund, UBS Global or other third parties as to any information technology,
internal audit and other non-audit services provided by the independent auditors
to the Fund. The review of the Fund's financial statements by the Committee is
not of the same quality as the audit performed by the independent auditors.

In carrying out its responsibilities, the Committee's policies and
procedures shall be adapted, as appropriate, in order to best react to a
changing environment.

AMENDMENTS

This Charter may be amended by a vote of a majority of the Board members.

A-5

APPENDIX A

UBS Managed Investments Trust

UBS Managed Municipal Trust

UBS Series Trust

Liquid Institutional Reserves

UBS Investment Trust

UBS Index Trust

UBS Municipal Money Market Series

UBS Money Series

UBS Securities Trust

UBS PACE Select Advisors Trust

UBS Cashfund Inc.

UBS RMA Money Fund Inc.

UBS RMA Tax-Free Fund Inc.

UBS Master Series, Inc.

UBS Financial Sector Fund Inc.

Strategic Global Income Fund, Inc. *

Global High Income Dollar Fund Inc. *

Investment Grade Municipal Income Fund Inc. *

Insured Municipal Income Fund Inc. *

Managed High Yield Plus Fund Inc. *

- ---------

* Closed-end Funds. The duties and responsibilities of paragraphs 10 and 12 and
any other provision applicable exclusively to closed-end funds apply to these
funds only.

A-6

APPENDIX B

AUDIT COMMITTEE FINANCIAL EXPERT REQUIREMENTS

An 'audit committee financial expert' is a person who has the following
attributes:

an understanding of generally accepted accounting principles and
financial statements;

the ability to assess the general application of such principles in
connection with the accounting for estimates, accruals and reserves;

experience preparing, auditing, analyzing or evaluating financial
statements that present a breadth and level of complexity of
accounting issues that are generally comparable to the breadth and
complexity of issues that can reasonably be expected to be raised by
the registrant's financial statements, or experience actively
supervising one or more persons engaged in such activities;

an understanding of internal controls and procedures for financial
reporting; and

an understanding of audit committee functions.

A person must have acquired such attributes through one or more of the
following:

education and experience as a principal financial officer, principal
accounting officer, controller, public accountant or auditor or
experience in one or more positions that involve the performance of
similar functions;

experience actively supervising a principal financial officer,
principal accounting officer, controller, public accountant, auditor
or person performing similar functions;

experience overseeing or assessing the performance of companies or
public accountants with respect to the preparation, auditing or
evaluation of financial statements; or

other relevant experience.

A-7

EXHIBIT B

NOMINATING COMMITTEE CHARTER

ESTABLISHMENT AND PURPOSE

The Nominating Committee (the 'Committee') of the Boards of Trustees and
Boards of Directors (collectively, the 'Boards') of the funds for which Brinson
Advisors, Inc. ('Brinson Advisors')* serves as investment adviser or investment
manager (each, a 'Fund' and collectively, the 'Funds') is hereby established on
this the 20th day of September, 2001. The purpose of the Committee is to select
and nominate for consideration by the full Boards individuals to be considered
for election as independent Trustees or independent Directors, as applicable, of
the Funds.

In performing its duties, the Committee shall have unrestricted access to
the Funds' officers, Trustees and Directors and the senior management of Brinson
Advisors.

COMPOSITION

The Committee shall be composed of four** of the independent
Trustees/Directors of the Funds selected by the Boards. The Boards shall elect a
chairperson, who shall preside over Committee meetings (the 'Chairperson'). The
Chairperson shall serve for an initial interim term of one year and, thereafter,
for successive terms of three years. Each other committee member appointed at
the time of the establishment of the Committee shall also serve for an initial
interim term of one year. Thereafter, committee members shall serve for
successive terms of three years.

MEETINGS

The Committee shall meet as it deems necessary and appropriate to fulfill
its purpose and as circumstances require. An agenda shall be established for
each meeting. The Chairperson may invite the Funds' officers and other
interested parties to participate in meetings. The Committee may, in its
discretion, meet in executive session outside the presence of the Funds'
officers and other parties.

A majority of the Committee's members shall constitute a quorum. At any
meeting of the Committee, the decision of a majority of the members present and
voting shall be determinative as to any matter submitted to a vote.

REPORTING

The Chairperson shall report to the Boards on the result of its
deliberations and make such recommendations as deemed appropriate.

AMENDMENTS

This charter may be amended by a vote of a majority of the Committee
members.

- ---------
* Brinson Advisors, Inc. is now known as UBS Global Asset Management (US) Inc.

** The Nominating Committee is comprised of three directors as of the date of
this proxy statement.

B-1

- -------------------
STRATEGIC GLOBAL
INCOME FUND, INC.
- -------------------

--------------------------
PROXY STRATEGIC GLOBAL
STATEMENT INCOME FUND, INC.
--------------------------

--------------------------
NOTICE OF
ANNUAL MEETING
TO BE HELD ON
MARCH 18, 2004
AND
PROXY STATEMENT
--------------------------

COMMON STOCK
PROXY

STRATEGIC GLOBAL INCOME FUND, INC.

Annual Meeting of Shareholders - March 18, 2004

The undersigned hereby appoints as proxies Keith A. Weller and Marissa
Duran-Cruz and each of them (with power of substitution) to vote for the
undersigned all shares of common stock of the undersigned at the aforesaid
meeting and any adjournment thereof with all the power the undersigned would
have if personally present. The shares represented by this proxy will be voted
as instructed. Unless indicated to the contrary, this proxy shall be deemed to
grant authority to vote "FOR" all proposals. This proxy is solicited on behalf
of the Board of Directors of Strategic Global Income Fund, Inc.

YOUR VOTE IS IMPORTANT

Please date and sign this proxy on the reverse side and return it in the
enclosed envelope to PFPC Inc., P.O. Box 8586, Edison, NJ 08818-9452. PFPC Inc.
has been engaged to forward the enclosed proxy material and to tabulate proxies
returned by mail.

- ----------- -----------
SEE REVERSE CONTINUED AND TO BE SIGNED ON REVERSE SIDE SEE REVERSE
SIDE SIDE
- ----------- -----------

Please mark
[x] vote as in
this example.

The Board of Directors recommends a vote "FOR"

1. To elect as directors:

Nominees: (01) Margo N. Alexander, (02) Richard Q. Armstrong,
(03) David J. Beaubien, (04) Richard R. Burt,
(05) Meyer Feldberg, (06) Carl W. Schafer,
(07) Brian M. Storms and (08) William D. White.

FOR WITHHOLD
ALL [ ] [ ] FROM ALL
NOMINEES NOMINEES

----------------------------------------
[ ] For all nominees except as written above

MARK HERE FOR ADDRESS CHANGE AND NOTE AT LEFT [ ]

This proxy will not be voted unless it is dated and signed exactly as
instructed below:

If shares are held by an individual, sign your name exactly as it
appears on this card. If shares are held jointly, either party may sign,
but the name of the party signing should conform exactly to the name
shown on this proxy card. If shares are held by a corporation,
partnership or similar account, the name and the capacity of the
individual signing the proxy card should be indicated unless it is
reflected in the form of registration. For example: "ABC Corp., John
Doe, Treasurer."

Sign exactly as name appears hereon.

Signature (if held jointly): _________________ Date: __________ Signature:____________________ Date: _________

STATEMENT OF DIFFERENCES
------------------------

The dagger symbol shall be expressed as................................ 'D'