SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 12, 1999
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Prospect Street High Income Portfolio Inc.
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(Exact name of registrant as specified in its charter)
Maryland 811-5557 04-302-8343
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
60 State Street, Boston, Massachusetts 02109
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Address of principal executive offices
Registrant's telephone number, including area code: (617) 742-3800
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N/A
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(Former name or former address, if changed since last report.)
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Item 5. Other Events
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On March 12, 1999 Prospect Street High Income Portfolio, Inc.
(the "Fund") held its 1999 Annual Meeting of Stockholders. At such meeting,
Richard E. Omohundro, Jr., John A. Frabotta, John S. Albanese, C. William Carey,
Joseph G. Cote, Harlan D. Platt and Christopher E. Roshier were re-elected as
directors of the Fund to serve until the next annual meeting of the Fund's
stockholders and until their successors shall have been duly elected and
qualified. The stockholders also ratified the appointment of Arthur Andersen LLP
as independent public accounts of the Fund for the fiscal year ending October
31, 1999. The stockholders voted against a proposal which would have increased
the annual advisory fee to 0.70% of the Fund's average annual net assets up to
and including $200,000,000 and 0.65% of the excess of such managed assets over
$200,000,000. Accordingly, the current 0.50% to 0.65% tiered advisory fee
structure will remain unchanged.
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SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
PROSPECT STREET HIGH INCOME
PORTFOLIO INC.
Dated: March 25, 1999 By: /S/ John A. Frabotta
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John A. Frabotta
Vice President, Treasurer,
Chief Investment Officer and
Chief Financial Officer
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