Davis High Income Fund, Inc.
Supplement dated May 1, 1996
to the Prospectus
dated August 1, 1995 as revised October 1, 1995
Effective May 1, 1996 the following paragraph replaces paragraph 2
under "Adviser, Sub-Adviser and Distributor" on page 10:
"The Fund pays the Adviser a fee at the annual rate of 0.70% on the
first $250 million of average net assets, 0.60% on the next $250 million
of average net assets and 0.55% on average net assets over $500 million.
This fee schedule is somewhat higher than that of most bond funds. The
Fund also reimburses the Adviser for its costs of providing certain
accounting and financial reporting, shareholder services and compliance
with state securities laws.
