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EXHIBIT 3
PROSPECT STREET HIGH INCOME PORTFOLIO INC.
ANNUAL MEETING OF STOCKHOLDERS
OCTOBER 27, 2000
PROXY BALLOT
(1) ELECTION OF DIRECTORS
The undersigned hereby vote(s) the number of shares of common stock
("Shares") of Prospect Street High Income Portfolio Inc. (the "Fund") as
follows:
Nominees Votes For Authority Withheld
-------- --------- ------------------
James D. Dondero 22,991,519.0220 489,504.3876
John William Honis 22,857,356.8457 623,666.5639
Timothy K. Hui 22,854,611.1226 626,412.2870
Scott F. Kavanaugh 22,994,163.0220 486,860.3876
James F. Leary 22,848,207.8522 632,815.5574
(2) RATIFICATION OF THE SELECTION OF ERNST & YOUNG LLP
The undersigned hereby vote(s) 23,149,400.1322 Shares in favor of, and
181,386.6525 Shares against, the ratification of the selection of Ernst & Young
LLP as independent public accountants of the Fund for the current fiscal year
ending October 31, 2000, with 161,109.7276 Shares having abstained from voting.
IN TESTIMONY WHEREOF, we have hereunto set our hands this 27th day of
October, 2000.
231,491,867
Shares represented by the
undersigned as Proxies
/s/ R. Joseph Dougherty Proxy
----------------------------
R. Joseph Dougherty
/s/ Mark K. Okada Proxy
----------------------------
Mark K. Okada
