Under the Gabelli Global Utility & Income Trust's payout policy, the Trust pays a minimum annual distribution of 6% of the initial public offering price of $20.00 per share. Pursuant to this policy, the Trust pays $0.10 per share in the first eleven months of the year and an adjusting distribution in December which includes, if necessary, any additional income and net realized capital gains in excess of the monthly distributions for that year to satisfy the minimum distribution requirements of the Internal Revenue Code. Each quarter, the Board of Trustees reviews the amount of any potential distribution and the income, capital gains or capital available. The Trust's distribution policy is subject to modification by the Board of Trustees at any time.

The distribution for October 2005 will be payable on October 25, 2005 to shareholders of record on October 17, 2005.

The distribution for November 2005 will be payable on November 23, 2005 to shareholders of record on November 15, 2005.

A portion of the distribution may be treated as long-term capital gain and qualifying dividend income for individuals, each subject to the maximum Federal income tax rate, which is currently 15% in taxable accounts for individuals. If the Trust does not generate earnings from dividends, interest and net realized capital gains equal to or in excess of the aggregate distributions paid by the Trust for the year, then the amount distributed in excess of the Trust's investment income and net realized capital gains will be deemed a non-taxable return of capital. Long-term capital gain, qualifying dividend income, ordinary income and non-taxable return of capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. The final determination of the source of all distributions in 2005 will be made after year-end.

The Gabelli Global Utility & Income Trust is a non-diversified, closed-end management investment company with $66 million in total assets whose primary investment objective is to seek a consistent level of after-tax total return with an emphasis currently on tax-advantaged qualified dividend income. The Trust is managed by Gabelli Funds, LLC, a subsidiary of Gabelli Asset Management Inc. (NYSE:GBL), which is a publicly traded NYSE listed company.