<SEC-DOCUMENT>0000950123-11-032177.txt : 20110404
<SEC-HEADER>0000950123-11-032177.hdr.sgml : 20110404
<ACCEPTANCE-DATETIME>20110401174721
ACCESSION NUMBER:		0000950123-11-032177
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		13
CONFORMED PERIOD OF REPORT:	20110406
FILED AS OF DATE:		20110404
DATE AS OF CHANGE:		20110401
EFFECTIVENESS DATE:		20110404

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Gabelli Global Gold, Natural Resources & Income Trust
		CENTRAL INDEX KEY:			0001313510
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-21698
		FILM NUMBER:		11732896

	BUSINESS ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580-1422
		BUSINESS PHONE:		800.422.3554

	MAIL ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580-1422

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Gabelli Gold, Natural Resources & Income Trust
		DATE OF NAME CHANGE:	20050105
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>b84379a1def14a.htm
<DESCRIPTION>GABELLI GLOBAL GOLD, NATURAL RESOURCES AND INCOME TRUST
<TEXT>
<HTML>
<HEAD>
<TITLE>def14a</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>SCHEDULE 14A INFORMATION</B>
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>Proxy Statement Pursuant to Section&nbsp;14(a) of the Securities Exchange Act of 1934<BR>
(Amendment No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;)</B></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Filed by Registrant <FONT style="font-family: Wingdings">&#254;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Filed by a Party other than the Registrant <FONT style="font-family: Wingdings">&#111;</FONT>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Preliminary Proxy Statement</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#254;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Definitive Proxy Statement</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Definitive Additional Materials</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting Material Pursuant to Sec. 240.14a-12</TD>
</TR>

</TABLE>
</DIV>
<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>The Gabelli Global Gold, Natural Resources &#038; Income Trust</B>
</DIV>

<DIV align="center" style="font-size: 10pt">(Name of Registrant as Specified In Its Charter)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Payment of Filing Fee (Check the appropriate box):
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#254;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>No fee required</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1) and 0-11.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Title of each class of securities to which transaction applies:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Aggregate number of securities to which transaction applies:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Per unit price or other underlying value of transaction computed pursuant to
Exchange Act Rule&nbsp;0-11(set forth the amount on which the filing fee is calculated and
state how it was determined):</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Proposed maximum aggregate value of transaction:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Total fee paid:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Fee paid previously with preliminary materials.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Check box if any part of the fee is offset as provided by Exchange
Act Rule&nbsp;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.</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Amount Previously Paid:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Form, Schedule or Registration Statement No.:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Filing Party:</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Date Filed:</TD>
</TR>

</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>




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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

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<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">THE
    GABELLI GLOBAL GOLD, NATURAL RESOURCES&#160;&#038; INCOME
    TRUST</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <FONT style="font-family: 'Times New Roman', Times">One
    Corporate Center<BR>
    Rye, New York 10580 - 1422<BR>
    <FONT style="white-space: nowrap">(914)&#160;921-5070</FONT>
    </FONT>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 13%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>


<!-- link1 "NOTICE OF ANNUAL MEETING OF SHAREHOLDERS To Be Held on May 16, 2011" -->


<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">NOTICE OF
    ANNUAL MEETING OF SHAREHOLDERS<BR>
    To Be Held on May&#160;16, 2011</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 13%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    To the Shareholders of
</DIV>



<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    THE GABELLI GLOBAL GOLD, NATURAL RESOURCES&#160;&#038; INCOME
    TRUST
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Notice is hereby given that the Annual Meeting of Shareholders
    of The Gabelli Global Gold, Natural Resources&#160;&#038; Income
    Trust, a Delaware statutory trust (the &#147;Fund&#148;), will
    be held on Monday, May&#160;16, 2011, at 12:00&#160;p.m., at The
    Cole Auditorium, The Greenwich Library, 101&#160;West Putnam
    Avenue, Greenwich, Connecticut 06830 and at any adjournments
    thereof (the &#147;Meeting&#148;), for the following purposes:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="4%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    1.&#160;&#160;
</TD>
    <TD align="left">
    To elect three (3)&#160;Trustees of the Fund, two (2) Trustees
    to be elected by the holders of the Fund&#146;s Common Shares
    and holders of its 6.625% Series&#160;A Cumulative Preferred
    Shares (the &#147;Preferred Shares&#148;), voting together as a
    single class, and one (1) Trustee to be elected by the holders
    of the Fund&#146;s Preferred Shares, voting as a separate class
    (<B>Proposal&#160;1</B>);&#160;and
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    2.&#160;&#160;
</TD>
    <TD align="left">
    To consider and vote upon such other matters, including
    adjournments, as may properly come before said Meeting or any
    adjournments thereof.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    These items are discussed in greater detail in the attached
    Proxy Statement.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The close of business on March&#160;21, 2011 has been fixed as
    the record date for the determination of shareholders entitled
    to notice of and to vote at the Meeting and any adjournments
    thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>YOUR VOTE IS IMPORTANT REGARDLESS OF THE SIZE OF YOUR
    HOLDINGS IN THE FUND. WHETHER OR NOT YOU PLAN TO ATTEND THE
    MEETING, WE ASK THAT YOU PLEASE VOTE PROMPTLY.
    INSTRUCTIONS&#160;FOR THE PROPER VOTING AND/OR EXECUTION OF
    PROXIES ARE SET FORTH ON THE INSIDE COVER. SHAREHOLDERS MAY
    PROVIDE THEIR VOTE BY <BR>
    TELEPHONE OR THE INTERNET BY FOLLOWING THE
    INSTRUCTIONS&#160;ACCOMPANYING THE PROXY CARD, VOTING
    INSTRUCTION FORM OR NOTICE OF INTERNET AVAILABILITY OF PROXY
    MATERIALS. ALTERNATIVELY, SHAREHOLDERS MAY SUBMIT VOTING
    INSTRUCTIONS&#160;BY SIGNING AND DATING THE PROXY CARD OR VOTING
    INSTRUCTION FORM AND RETURNING IT IN THE ACCOMPANYING
    POSTAGE-PAID ENVELOPE.</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    By Order of the Board of Trustees,
</DIV>

<DIV style="margin-top: 36pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    AGNES MULLADY
</DIV>

<DIV align="left" style="margin-left: 49%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Secretary</I>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    April&#160;6, 2011
</DIV>
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</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<!-- link1 "INSTRUCTIONS FOR SIGNING PROXY CARDS TO BE RETURNED BY MAIL" -->


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">INSTRUCTIONS&#160;FOR
    SIGNING PROXY CARDS TO BE RETURNED BY MAIL</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following general rules for signing proxy cards may be of
    assistance to you and avoid the time and expense to the Fund
    involved in validating your vote if you fail to sign your proxy
    card properly.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="4%"></TD>
    <TD width="92%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    1.&#160;&#160;
</TD>
    <TD align="left">
    <I>Individual Accounts: </I>Sign your name exactly as it appears
    in the registration on the proxy card.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    2.&#160;&#160;
</TD>
    <TD align="left">
    <I>Joint Accounts: </I>Either party may sign, but the name of
    the party signing should conform exactly to the name shown in
    the registration.
</TD>
</TR>


<TR style="line-height: 6pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    3.&#160;&#160;
</TD>
    <TD align="left">
    <I>All Other Accounts: </I>The capacity of the individuals
    signing the proxy card should be indicated unless it is
    reflected in the form of registration. For example:
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="50%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="48%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Registration</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Valid Signature</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Corporate Accounts</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    (1)&#160;ABC Corp.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    ABC Corp.
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    (2)&#160;ABC Corp.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    John Doe, Treasurer
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    (3)&#160;ABC Corp.
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    <FONT style="white-space: nowrap">c/o&#160;John</FONT>
    Doe, Treasurer
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    John Doe
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    (4)&#160;ABC Corp., Profit Sharing Plan
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    John Doe, Trustee
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Trust&#160;Accounts</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    (1)&#160;ABC Trust
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Jane B. Doe, Trustee
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    (2)&#160;Jane B. Doe, Trustee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    u/t/d 12/28/78
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Jane B. Doe
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Custodian or Estate Accounts</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    (1)&#160;John B. Smith, Cust.
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    f/b/o John B. Smith, Jr. UGMA
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    John B. Smith
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    (2)&#160;John B. Smith, Executor
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 30pt">
    Estate of Jane Smith
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    John B. Smith, Executor
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>


<!-- link1 "INSTRUCTIONS FOR TELEPHONE/INTERNET VOTING" -->


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">INSTRUCTIONS&#160;FOR
    TELEPHONE/INTERNET VOTING</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Various brokerage firms may offer the convenience of providing
    you with voting instructions via telephone or the Internet for
    shares held through such firms. Instructions for Internet and
    telephonic voting are included with each of the Notice of
    Internet Availability of Proxy Materials and the proxy card.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">THE
    GABELLI GLOBAL GOLD, NATURAL RESOURCES&#160;&#038; INCOME
    TRUST</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 13%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>


<!-- link1 "ANNUAL MEETING OF SHAREHOLDERS" -->


<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">ANNUAL
    MEETING OF SHAREHOLDERS<BR>
    </FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">May&#160;16,
    2011</FONT></B>
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<CENTER style="font-size: 1pt; width: 13%; border-bottom: 1pt solid #000000"></CENTER>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>


<!-- link1 "PROXY STATEMENT" -->


<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">PROXY
    STATEMENT</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    This Proxy Statement is furnished in connection with the
    solicitation of proxies by the Board of Trustees (the
    &#147;Board,&#148; the members of which are referred to as
    &#147;Trustees&#148;) of The Gabelli Global Gold, Natural
    Resources&#160;&#038; Income Trust, a Delaware statutory trust
    (the &#147;Fund&#148;) for use at the Annual Meeting of
    Shareholders of the Fund to be held on Monday, May&#160;16, 2011
    at 12:00 p.m., at The Cole Auditorium, The Greenwich Library,
    101&#160;West Putnam Avenue, Greenwich, Connecticut 06830, and
    at any adjournments thereof (the &#147;Meeting&#148;). A Notice
    of Internet Availability of Proxy Materials is being mailed on
    April&#160;6, 2011.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition to the solicitation of proxies by mail, officers of
    the Fund and officers and regular employees of American Stock
    Transfer&#160;&#038; Trust&#160;Company (&#147;AST&#148;), the
    Fund&#146;s transfer agent, and affiliates of AST or other
    representatives of the Fund may also solicit proxies by
    telephone, telegraph, Internet, or in person. In addition, the
    Fund has retained Morrow &#038; Co., LLC to assist in the
    solicitation of proxies for an estimated fee of $1,000 plus
    reimbursement of expenses. The Fund will pay the costs of the
    proxy solicitation and the expenses incurred in connection with
    preparing, printing, and mailing the Proxy Statement and its
    enclosures. The Fund will also reimburse brokerage firms and
    others for their expenses in forwarding solicitation materials
    to the beneficial owners of its shares.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>The Fund&#146;s most recent annual report, including audited
    financial statements for the fiscal year ended December&#160;31,
    2010, is available upon request, without charge, by writing to
    the Secretary of the Fund, One Corporate Center, Rye, New York
    10580 -1422, by calling the Fund at
    <FONT style="white-space: nowrap">800-422-3554,</FONT>
    or via the Internet at www.gabelli.com.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    If the proxy is properly executed and returned in time to be
    voted at the Meeting, the Shares (as defined below) represented
    thereby will be voted &#147;FOR&#148; the election of the
    nominees as Trustees as described in this Proxy Statement,
    unless instructions to the contrary are marked thereon, and at
    the discretion of the proxy holders as to the transaction of any
    other business that may properly come before the Meeting. Any
    shareholder who has submitted a proxy has the right to revoke it
    at any time prior to its exercise either by attending the
    Meeting and voting his or her shares in person, or by submitting
    a letter of revocation, or a later dated proxy to the Fund at
    the above address prior to the date of the Meeting.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    A quorum of shareholders is constituted by the presence in
    person or by proxy of the holders of one-third of the
    outstanding shares of the Fund entitled to vote at the Meeting.
    In the event a quorum is not present at the Meeting, or in the
    event that a quorum is present at the Meeting but sufficient
    votes to approve any of the proposed items are not received, the
    chairman of the Meeting may propose one or more adjournments of
    such Meeting to permit further solicitation of proxies. If a
    quorum is present, a shareholder vote may be taken on one or
    more of the proposals in this Proxy Statement prior to such
    adjournment if sufficient votes have been received for approval
    and it is otherwise appropriate. If a quorum is present, the
    persons named as proxies will vote those proxies which they are
    entitled to vote &#147;FOR&#148; any proposal in favor of such
    adjournment and will vote those proxies required to be voted
    &#147;AGAINST&#148; any proposal against any such adjournment.
    Absent the establishment of a subsequent record date and the
    giving of notice to the holders of record thereon, the adjourned
    Meeting must take place not more than 130 days after the record
    date. At such adjourned Meeting, any business may be transacted
    which might have been transacted at the original Meeting.
</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    1
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The close of business on March&#160;21, 2011 has been fixed as
    the record date for the determination of shareholders entitled
    to notice of and to vote at the Meeting and all adjournments
    thereof.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Fund has two classes of capital stock outstanding: common
    shares, par value $0.001 per share (the &#147;Common
    Shares&#148;), and 6.625% Series&#160;A Cumulative Preferred
    Shares, par value $0.001 per share (the &#147;Preferred
    Shares&#148; and together with the Common Shares, the
    &#147;Shares&#148;). The holders of the Common Shares and
    Preferred Shares are each entitled to one vote for each full
    share held. On the record date, there were 58,977,393 Common
    Shares and 3,955,687 Preferred Shares outstanding.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As of the record date, there were no persons known to the Fund
    to be beneficial owners of more than 5% of the Fund&#146;s
    outstanding Common Shares or Preferred Shares.
</DIV>


<!-- link1 "SUMMARY OF VOTING RIGHTS ON PROXY PROPOSALS" -->


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SUMMARY
    OF VOTING RIGHTS ON PROXY PROPOSALS</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="19%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="8%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="35%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="35%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Proposal</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Common Shareholders</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Preferred Shareholders</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -18pt; margin-left: 18pt">
    1.&#160;&#160;Election of<BR>
    Trustees
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Common and Preferred Shareholders, voting together as a single
    class, vote to elect two Trustees: <BR>
    Frank J. Fahrenkopf, Jr. and <BR>
    Salvatore J. Zizza
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Common and Preferred Shareholders, voting together as a single
    class, vote to elect two Trustees: <BR>
    Frank J. Fahrenkopf, Jr. and <BR>
    Salvatore J. Zizza<BR>
    <BR>
    Preferred Shareholders, <BR>
    voting as a separate class, vote<BR>
    to elect one Trustee:<BR>
    Anthony J. Colavita
</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2.&#160;&#160;Other Business
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="3" valign="top">
    Common and Preferred Shareholders, voting together as a single
    class
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In order that your Shares may be represented at the Meeting, you
    are requested to vote on the following matters:
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    2
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->


<!-- link1 "PROPOSAL 1: TO ELECT THREE (3) TRUSTEES OF THE FUND" -->


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 3%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">PROPOSAL&#160;1:
    TO ELECT THREE (3)&#160;TRUSTEES OF THE FUND</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 3%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Nominees
    for the Board of Trustees</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Board consists of nine Trustees, eight of whom are not
    &#147;interested persons&#148; of the Fund (as defined in the
    Investment Company Act of 1940, as amended (the &#147;1940
    Act&#148;)). The Fund divides the Board into three classes, each
    class having a term of three years. Each year the term of office
    of one class will expire. Anthony J. Colavita, Frank J.
    Fahrenkopf, Jr., and Salvatore J. Zizza have each been nominated
    by the Board for election to serve for a three year term to
    expire at the Fund&#146;s 2014 Annual Meeting of Shareholders
    and until their successors are duly elected and qualified. Each
    of the Trustees of the Fund has served in that capacity since
    the February&#160;14, 2005 organizational meeting of the Fund
    with the exception of Mr.&#160;Salibello, who became a Trustee
    of the Fund on November&#160;16, 2005. All of the Trustees of
    the Fund are also directors or trustees of other investment
    companies for which Gabelli Funds, LLC (the &#147;Adviser&#148;)
    or its affiliates serve as investment adviser. The classes of
    Trustees are indicated below:
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><U>Nominees to Serve Until 2014 Annual Meeting of
    Shareholders</U></B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Anthony J. Colavita
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Frank J. Fahrenkopf, Jr.
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Salvatore J. Zizza
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><U>Trustees Serving Until 2013 Annual Meeting of
    Shareholders</U></B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Mario d&#146;Urso
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Vincent D. Enright
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Michael J. Melarkey
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B><U>Trustees Serving Until 2012 Annual Meeting of
    Shareholders</U></B>
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    James P. Conn
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Salvatore M. Salibello
</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Anthonie C. van Ekris
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Under the Fund&#146;s Declaration of Trust, Statement of
    Preferences, and the 1940 Act, holders of the Fund&#146;s
    outstanding Preferred Shares, voting as a separate class, are
    entitled to elect two Trustees, and holders of the Fund&#146;s
    outstanding Common Shares and Preferred Shares, voting together
    as a single class, are entitled to elect the remaining Trustees.
    The holders of the Fund&#146;s outstanding Preferred Shares
    would be entitled to elect the minimum number of additional
    Trustees that would represent a majority of the Trustees in the
    event that dividends on the Fund&#146;s Preferred Shares are in
    arrears for two full years. No dividend arrearages exist as of
    the date of this Proxy Statement. Messrs.&#160;Colavita and Conn
    are currently the Trustees elected solely by the holders of the
    Fund&#146;s Preferred Shares. Mr. Conn&#146;s term as Trustee is
    scheduled to expire at the Fund&#146;s 2012 Annual Meeting of
    Shareholders, and therefore he is not standing for election at
    this Meeting. A quorum of the Preferred Shareholders must be
    present in person or by proxy at the Meeting in order for the
    proposal to elect Mr. Colavita to be considered.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Unless authority is withheld, it is the intention of the persons
    named in the proxy to vote the proxy &#147;FOR&#148; the
    election of the nominees named above. Each nominee has indicated
    that he has consented to serve as a Trustee if elected at the
    Meeting. If a designated nominee declines or otherwise becomes
    unavailable for election, however, the proxy confers
    discretionary power on the persons named therein to vote in
    favor of a substitute nominee or nominees. Each nominee is
    qualified to serve as a Trustee under the Fund&#146;s By-Laws.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    3
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Information
    about Trustees and Officers</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Set forth in the table below are the existing Trustees,
    including those Trustees who are not considered to be
    &#147;interested persons,&#148; as defined in the 1940 Act (the
    &#147;Independent Trustees&#148;), three of whom are nominated
    for reelection to the Board of the Fund, and officers of the
    Fund, including information relating to their respective
    positions held with the Fund, a brief statement of their
    principal occupations and, in the case of the Trustees, their
    other directorships during the past five years (excluding other
    funds managed by the Adviser), if any.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="27%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="25%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="25%">&nbsp;</TD>	<!-- colindex=04 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="9%">&nbsp;</TD>	<!-- colindex=05 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Number of<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Term of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Portfolios in<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Office and<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Fund<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
    <B>Name, Position(s)<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Length of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Other Directorships<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Complex<SUP style="font-size: 85%; vertical-align: top">(3)<BR>

    </SUP></B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
    <B>Address<SUP style="font-size: 85%; vertical-align: top">(1)<BR>

    </SUP></B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Time<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Principal Occupation(s)<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Held by Trustee<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Overseen<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>and Age</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Served<SUP style="font-size: 85%; vertical-align: top">(2)</SUP></B>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>During Past Five Years</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>During Past Five Years</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>by Trustee</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    <B><U>INTERESTED
    TRUSTEE</U><SUP style="font-size: 85%; vertical-align: top">(4)</SUP>:</B>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Salvatore M. Salibello<BR>
    </B>Trustee<BR>
    Age: 65
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Since 2005***
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Certified Public Accountant and Managing Partner of the
    certified public accounting firm of Salibello &#038; Broder LLP
    since 1978
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Director of Kid Brands, Inc. (group of companies in infant and
    juvenile products); and until September 2007, Director of
    Brooklyn Federal Bank Corp., Inc. (independent community bank)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    3
</TD>
</TR>
<TR valign="bottom">
<TD colspan="5" valign="top">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    <U>INDEPENDENT
    TRUSTEES/NOMINEES</U><SUP style="font-size: 85%; vertical-align: top">(5)</SUP>:

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Anthony J.
    Colavita<SUP style="font-size: 85%; vertical-align: top">(6)<BR>

    </SUP></B>Trustee<BR>
    Age: 75
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Since 2005*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    President of the law firm of Anthony J. Colavita,&#160;P.C.
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    &#151;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    34
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>James P.
    Conn<SUP style="font-size: 85%; vertical-align: top">(6)<BR>

    </SUP></B>Trustee<BR>
    Age: 73
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Since 2005***
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Former Managing Director and Chief Investment Officer of
    Financial Security Assurance Holdings Ltd. (insurance holding
    company) (1992-1998)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Director of First Republic Bank (banking) through January 2008;
    Director of La Quinta Corp. (hotels) through January&#160;2006
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    18
</TD>
</TR>
<TR valign="bottom" style="line-height: 4pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Mario d&#146;Urso<BR>
    </B>Trustee<BR>
    Age: 70
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Since 2005**
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Chairman of Mittel Capital Markets S.p.A. (2001-2008); Senator
    in the Italian Parliament (1996-2001)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    &#151;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    5
</TD>
</TR>
<TR valign="bottom" style="line-height: 4pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Vincent D. Enright<BR>
    </B>Trustee<BR>
    Age: 67
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Since 2005**
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Former Senior Vice President and Chief Financial Officer of
    KeySpan Corp. (public utility) (1994-1998)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Director of Echo Therapeutics, Inc. (therapeutics and
    diagnostics); and until September 2006, Director of Aphton
    Corporation (pharmaceuticals)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    16
</TD>
</TR>
<TR valign="bottom" style="line-height: 4pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Frank J. Fahrenkopf, Jr.<BR>
    </B>Trustee<BR>
    Age: 71
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Since 2005*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    President and Chief Executive Officer of the American Gaming
    Association; Co-Chairman of the Commission on Presidential
    Debates; Former Chairman of the Republican National Committee
    <FONT style="white-space: nowrap">(1983-1989)</FONT>
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Director of First Republic Bank (banking)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    6
</TD>
</TR>
<TR valign="bottom" style="line-height: 4pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Michael J. Melarkey<BR>
    </B>Trustee<BR>
    Age: 61
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Since 2005**
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Partner in the law firm of Avansino, Melarkey, Knobel, Mulligan
    &#038; McKenzie
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Director of Southwest Gas Corporation (natural gas utility)
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    5
</TD>
</TR>
<TR valign="bottom" style="line-height: 4pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Anthonie C. van Ekris<BR>
    </B>Trustee<BR>
    Age: 76
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Since 2005***
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Chairman and Chief Executive Officer of BALMAC International,
    Inc. (commodities and futures trading)
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Director of Aurado Energy Inc. (oil and gas operations) through
    2005
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    20
</TD>
</TR>
<TR valign="bottom" style="line-height: 4pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Salvatore J. Zizza<BR>
    </B>Trustee<BR>
    Age: 65
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
    Since 2005*
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Chairman and Chief Executive of Zizza &#038; Co., Ltd.
    (financial consulting) since 1978; Chairman of Metropolitan
    Paper Recycling Inc. (recycling) since 2006; Chairman of BAM
    Inc., (manufacturing); Chairman of
    <FONT style="white-space: nowrap">E-Corp</FONT>
    English (global English instruction for corporate personnel)
    since 2009.
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Non-Executive Chairman and Director of Harbor BioSciences, Inc.
    (biotechnology);
    <FONT style="white-space: nowrap">Vice-Chairman</FONT>
    and Director of Trans-Lux Corporation (business services);
    Chairman, Chief Executive Officer, and Director of General
    Employment Enterprises, Inc. (staffing); Director of Bion
    Environmental Technologies (technology) (2005-2008); and
    Director of Earl Scheib Inc. (automotive painting) through April
    2009
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    28
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    4
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 7pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="24%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="1%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="63%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Term of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Office and<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
    <B>Name, Position(s)<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Length of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
    <B>Address<SUP style="font-size: 85%; vertical-align: top">(1)<BR>

    </SUP></B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Time<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    <B>Principal Occupation(s)<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>and Age</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Served<SUP style="font-size: 85%; vertical-align: top">(2)</SUP></B>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>During Past Five Years</B>
</DIV>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -7pt; margin-left: 7pt">
    <B><U>OFFICERS</U><SUP style="font-size: 85%; vertical-align: top">(7)</SUP>:</B>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="top">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="line-height: 4pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Bruce N. Alpert<BR>
    </B>President<BR>
    Age: 59
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Since 2005
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Executive Vice President and Chief Operating Officer of Gabelli
    Funds, LLC since 1988 and an officer of all registered
    investment companies in the Gabelli/GAMCO Funds Complex.
    Director of Teton Advisors, Inc. since 1998; Chairman of Teton
    Advisors, Inc. 2008 to 2010; President of Teton Advisors, Inc.
    1998 through 2008; Senior Vice President of GAMCO Investors,
    Inc. since 2008
</TD>
</TR>
<TR valign="bottom" style="line-height: 4pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Carter W. Austin<BR>
    </B>Vice President<BR>
    Age: 44
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Since 2005
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Vice President of the Fund since 2005; Vice President of other
    closed-end funds within the Gabelli/GAMCO Funds Complex; Vice
    President of Gabelli Funds, LLC since 1996
</TD>
</TR>
<TR valign="bottom" style="line-height: 4pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Peter D. Goldstein<BR>
    </B>Chief Compliance Officer<BR>
    Age: 58
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Since 2005
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Director of Regulatory Affairs at GAMCO Investors, Inc. since
    2004; <BR>
    Chief Compliance Officer of all of the registered investment
    companies in the Gabelli/GAMCO Funds Complex
</TD>
</TR>
<TR valign="bottom" style="line-height: 4pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Molly A.F. Marion<BR>
    </B>Vice President and Ombudsman<BR>
    Age: 57
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Since 2005
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Vice President and Ombudsman of the Fund since 2005; Vice
    President and Ombudsman of Gabelli Equity Trust since 2009;
    Assistant Vice President of GAMCO Investors, Inc. since 2006;
    Assistant Portfolio Manager of Gabelli Fixed Income LLC from
    <FONT style="white-space: nowrap">1994-2004</FONT>
</TD>
</TR>
<TR valign="bottom" style="line-height: 4pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Laurissa M. Martire<BR>
    </B>Ombudsman<BR>
    Age: 33
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Since<BR>
    February 2010
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    Ombudsman of the Fund since 2010; Vice President or Ombudsman of
    other closed-end funds within the Gabelli/GAMCO
    Funds&#160;Complex; Assistant Vice President of GAMCO Investors,
    Inc. since 2003
</TD>
</TR>
<TR valign="bottom" style="line-height: 4pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
    <B>Agnes Mullady<BR>
    </B>Treasurer and Secretary<BR>
    Age: 52
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="top">
    Since 2006
</TD>
<TD>
&nbsp;
</TD>
<TD align="left" valign="top">
    President and Chief Operating Officer of the Open-End Fund
    Division of Gabelli Funds, LLC since September&#160;2010; Senior
    Vice President of GAMCO Investors, Inc. since 2009; Vice
    President of Gabelli Funds, LLC since 2007; Officer of all of
    the registered investment companies in the Gabelli/GAMCO Funds
    Complex
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="2%"></TD>
    <TD width="1%"></TD>
    <TD width="97%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(1)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Address: One Corporate Center, Rye,
    NY
    <FONT style="white-space: nowrap">10580-1422.</FONT>
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(2)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">The Fund&#146;s Board of Trustees
    is divided into three classes, each class having a term of three
    years. Each year the term of office of one class expires and the
    successor or successors elected to such class serve for a three
    year term.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(3)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">The &#147;Fund&#160;Complex&#148;
    or the &#147;Gabelli/GAMCO Funds&#160;Complex&#148; includes all
    the registered funds that are considered part of the same fund
    complex as the Fund because they have common or affiliated
    investment advisers.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(4)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">&#147;Interested person&#148; of
    the Fund, as defined in the 1940 Act. Mr.&#160;Salibello may be
    considered to be an &#147;interested person&#148; of the Fund as
    a result of being a partner in an accounting firm that provides
    professional services to affiliates of the Adviser.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(5)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Trustees who are not considered to
    be &#147;interested persons&#148; of the Fund as defined in the
    1940 Act are considered to be &#147;Independent&#148; Trustees.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(6)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Trustee elected solely by holders
    of the Fund&#146;s Preferred Shares.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(7)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Each officer will hold office for
    an indefinite term until the date he or she resigns or retires
    or until his or her successor is elected and qualified.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">*
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Nominee to serve, if elected, until
    the Fund&#146;s 2014 Annual Meeting of Shareholders and until
    his successor is duly elected and qualified.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">**
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Term continues until the
    Fund&#146;s 2013 Annual Meeting of Shareholders and until his
    successor is duly elected and qualified.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">***
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Term continues until the
    Fund&#146;s 2012 Annual Meeting of Shareholders and until his
    successor is duly elected and qualified.
    </FONT></TD>
</TR>

</TABLE>
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    <BR>
    5
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Board believes that each Trustee&#146;s experience,
    qualifications, attributes, or skills on an individual basis and
    in combination with those of other Trustees lead to the
    conclusion that each Trustee should serve in such capacity.
    Among the attributes or skills common to all Trustees are their
    ability to review critically and to evaluate, question and
    discuss information provided to them, to interact effectively
    with the other Trustees, the Adviser, the
    <FONT style="white-space: nowrap">sub-administrator,</FONT>
    other service providers, counsel and the Fund&#146;s independent
    registered public accounting firm, and to exercise effective and
    independent business judgment in the performance of their duties
    as Trustees. Each Trustee&#146;s ability to perform his/her
    duties effectively has been attained in large part through the
    Trustee&#146;s business, consulting, or public service positions
    and through experience from service as a member of the Board and
    one or more of the other funds in the Gabelli/GAMCO
    Fund&#160;Complex, public companies, or non-profit entities, or
    other organizations as set forth above and below. Each
    Trustee&#146;s ability to perform his/her duties effectively
    also has been enhanced by education, professional training, and
    experience.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Anthony J. Colavita,&#160;Esq. </I>Mr.&#160;Colavita is a
    practicing attorney with over forty-nine&#160;years of
    experience, including the field of business law. He is Chairman
    of the Fund&#146;s Nominating Committee and is a member of the
    Fund&#146;s Proxy Voting Committee. Mr.&#160;Colavita also
    serves on comparable or other board committees with respect to
    other funds in the Fund&#160;Complex on whose boards he sits.
    Mr.&#160;Colavita also serves as a Trustee of a charitable
    remainder unitrust. He formerly served as a Commissioner of the
    New York State Thruway Authority and as a Commissioner of the
    New York State Bridge Authority. He served for ten years as the
    elected Supervisor of the Town of Eastchester, New&#160;York,
    responsible for ten annual municipal budgets of approximately
    eight million dollars per year. Mr.&#160;Colavita formerly
    served as Special Counsel to the New York State Assembly for
    five years and as a Senior Attorney with the New York State
    Insurance Department. He is the former Chairman of the
    Westchester County Republican Party and the New York State
    Republican Party. Mr.&#160;Colavita received his Bachelor of
    Arts from Fairfield University and his Juris Doctor from Fordham
    University School of Law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>James P. Conn. </I>Mr.&#160;Conn is the lead independent
    Trustee of the Fund, a member of the Fund&#146;s Proxy Voting
    Committee and a member of the Fund&#146;s <I>ad hoc</I> Pricing
    Committee (described below under &#147;Trustees&#160;&#151;
    Leadership Structure and Oversight Responsibilities&#148;). He
    also serves on comparable or other board committees for other
    funds in the Fund&#160;Complex on whose boards he sits. He was a
    senior business executive of an insurance holding company for
    much of his career, including service as Chief Investment
    Officer. Mr.&#160;Conn has been a director of several public
    companies in banking and other industries, and was lead Director
    and/or Chair of various committees. He received his Bachelor of
    Science in Business Administration from Santa&#160;Clara
    University.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Mario d&#146;Urso.</I> Mr. d&#146;Urso was formerly a Senator
    and Undersecretary of Commerce in the Italian government. He is
    a member of the board of other funds in the Fund Complex. He is
    a former Chairman of Mittel Capital Markets, S.p.A., a boutique
    investment bank headquartered in Italy, and a former Partner and
    Managing Director of Kuhn Loeb&#160;&#038; Co. and Shearson
    Lehman Brothers Co. He previously served as President of The
    Italy Fund, a closed-end fund investing mainly in Italian listed
    and non-listed companies. Mr. d&#146;Urso received his Masters
    Degree in Comparative Law from George Washington University and
    was a practicing attorney in Italy.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Vincent D. Enright.</I> Mr.&#160;Enright was a senior
    executive and Chief Financial Officer (&#147;CFO&#148;) of an
    energy public utility for four years. In accordance with his
    experience as a CFO, he is a member of the Fund&#146;s Audit
    Committee. Mr.&#160;Enright is also Chairman of the Fund&#146;s
    Proxy Voting Committee and a member of both multi-fund <I>ad
    hoc</I> Compensation Committees and serves on comparable or
    other board committees with respect to other funds in the
    Fund&#160;Complex on whose boards he sits. Mr.&#160;Enright is
    also a Director of a therapeutics and diagnostics company and
    serves as Chairman of its compensation committee and audit
    committee. He is a former Director of a pharmaceutical company.
    Mr.&#160;Enright received his Bachelor of Science in accounting
    from Fordham University and completed the Advanced Management
    Program at Harvard University.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Frank J. Fahrenkopf,&#160;Jr.</I> Mr.&#160;Fahrenkopf is the
    President and Chief Executive Officer of the American Gaming
    Association (&#147;AGA&#148;), the trade group for the hotel
    casino industry. Additionally, he serves on certain board
    commitees with respect to other Funds in the Fund&#160;Complex
    on whose boards he sits. He presently is Co-Chairman of the
    Commission on Presidential Debates, which is responsible for the
    widely viewed Presidential debates during the quadrennial
    election cycle. Additionally, he serves as a board member of the
    International Republican Institute, which he founded in 1984. He
    served for many years as Chairman of the Pacific Democrat Union
    and Vice Chairman of the International Democrat Union, a
    worldwide association of political parties from the United
    States,
</DIV>
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    <BR>
    6
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Great Britain, France, Germany, Canada, Japan, Australia, and 20
    other nations. Prior to becoming the AGA&#146;s first chief
    executive in 1995, Mr.&#160;Fahrenkopf was a partner in the law
    firm of Hogan&#160;&#038; Hartson, where he chaired the
    International Trade Practice Group and specialized in
    regulatory, legislative, and corporate matters for
    multinational, foreign, and domestic clients. He also served as
    Chairman of the Republican National Committee for six years
    during Ronald Reagan&#146;s presidency. Mr.&#160;Fahrenkopf is
    the former Chairman of the Finance Committee of the Culinary
    Institute of America and remains a member of the board.
    Additionally, he has over twenty&#160;years of experience as a
    member of the board of directors of First Republic Bank.
    Mr.&#160;Fahrenkopf received his Bachelor of Arts from the
    University of Nevada, Reno and his Juris Doctor from UC Berkeley
    Boalt Hall School of Law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Michael J. Melarkey, Esq. </I>Mr.&#160;Melarkey is a
    practicing attorney specializing in business, estate planning,
    and gaming regulatory work with over thirty-four&#160;years of
    experience. He is a member of the Fund&#146;s Nominating
    Committee, a member of the Fund&#146;s <I>ad hoc</I> Pricing
    Committee, and a member of one of the multi-fund <I>ad hoc</I>
    Compensation Committees. He also serves in this same capacity
    with respect to some of the other funds in the Fund&#160;Complex
    on whose boards he sits. He is currently a Director of a natural
    gas utility company and chairs its Nominating and Corporate
    Governance Committee. Mr.&#160;Melarkey acts as a Trustee and
    officer for several private charitable organizations, is an
    owner of two northern Nevada casinos, and is an officer of a
    private oil and gas company. Mr.&#160;Melarkey received his
    Bachelor of Arts from the University of Nevada, Reno, his Juris
    Doctor from the University of San&#160;Francisco School of Law
    and his Masters of Law in Taxation from New York University
    School of Law.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Salvatore M. Salibello.</I> Mr.&#160;Salibello is a Certified
    Public Accountant and Managing Partner of a certified registered
    public accounting firm with forty-three&#160;years of experience
    in public accounting. He is a member of the board of other funds
    in the Gabelli Funds&#160;Complex. He is currently a director of
    Kid Brands, Inc., a NYSE listed company, and chairs its Audit
    Committee. Mr.&#160;Salibello received his Bachelor of Business
    Administration in Accounting from St.&#160;Francis College and
    his Masters in Business Administration in Finance from Long
    Island University.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Anthonie C. van Ekris.</I> Mr. van Ekris has been the
    Chairman and Chief Executive Officer of a global import/export
    company for nineteen&#160;years. Mr. van Ekris serves on the
    boards of other funds in the Fund&#160;Complex, is the Chairman
    of one such fund&#146;s Nominating Committee, and a member of
    the Proxy Voting Committee of some funds in the
    Fund&#160;Complex. He has over fifty-five&#160;years of
    experience as Chairman
    <FONT style="white-space: nowrap">and/or</FONT> Chief
    Executive Officer of public and private companies involved in
    the international trading or commodity trading, and served in
    both of these capacities for nearly twenty&#160;years for a
    large public jewelry chain. Mr. van Ekris is a former director
    of an oil and gas operations company and served on the boards of
    a number of public companies and for more than ten&#160;years on
    the Advisory Board of the Salvation Army of Greater New York.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <I>Salvatore J. Zizza.</I> Mr.&#160;Zizza is the Chairman of a
    financial consulting firm. He also serves as Chairman to other
    companies involved in manufacturing, recycling, and real estate.
    He is the Chair of the Fund&#146;s Audit Committee and is the
    Fund&#146;s designated Audit Committee Financial Expert.
    Mr.&#160;Zizza is a member of the Fund&#146;s Nominating
    Committee, a member of the Fund&#146;s <I>ad hoc</I> Pricing
    Committee, and is a member of both multi-fund <I>ad hoc</I>
    Compensation Committees. He serves on comparable or other board
    committees, including as lead independent director, with respect
    to other funds in the Fund&#160;Complex on whose boards he sits.
    Besides serving on the boards of many funds within the
    Fund&#160;Complex, he is currently a director of three other
    public companies and previously served on the boards of several
    other public companies. He previously served as the Chief
    Executive of a large NYSE listed construction company.
    Mr.&#160;Zizza received his Bachelor of Arts and his Master of
    Business Administration in Finance from St. John&#146;s
    University, which awarded him an Honorary Doctorate in
    Commercial Sciences.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Trustees&#160;&#151;
    Leadership Structure and Oversight Responsibilities</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Overall responsibility for general oversight of the Fund rests
    with the Board. The Board does not have a Chairman. The Board
    has appointed Mr.&#160;Conn as the lead independent Trustee. The
    lead independent Trustee presides over executive sessions of the
    Trustees and also serves between meetings of the Board as a
    liaison with service providers, officers, counsel, and other
    Trustees on a wide variety of matters including scheduling
    agenda items for Board meetings. Designation as such does not
    impose on the lead independent Trustee any obligations or
    standards greater than or different from other Trustees. The
    Board has established a Nominating Committee and an Audit
    Committee to assist the Board in the oversight of the management
    and affairs of the Fund. The Board also has
</DIV>
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    <BR>
    7
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    a Proxy Voting Committee that exercises beneficial ownership
    responsibilities on behalf of the Fund in selected situations.
    From time to time, the Board establishes additional committees
    or informal working groups, such as pricing committees related
    to securities offerings by the Fund to address specific matters,
    or assigns one of its members to work with Trustees or directors
    of other funds in the Gabelli/GAMCO Fund&#160;Complex on special
    committees or working groups that address complex-wide matters,
    such as the multi-fund <I>ad hoc</I> Compensation Committee
    relating to compensation of the Chief Compliance Officer for all
    the funds in the Fund&#160;Complex, and a separate
    multi-fund&#160;Compensation Committee relating to certain
    officers of the closed-end funds in the Fund&#160;Complex.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    All of the Fund&#146;s Trustees other than Mr.&#160;Salibello
    are independent Trustees, and the Board believes they are able
    to provide effective oversight of the Fund&#146;s service
    providers. In addition to providing feedback and direction
    during Board meetings, the Trustees meet regularly in executive
    session and chair all committees of the Board.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Fund&#146;s operations entail a variety of risks, including
    investment, administration, valuation, and a range of compliance
    matters. Although the Adviser, the
    <FONT style="white-space: nowrap">sub-administrator,</FONT>
    and the officers of the Fund are responsible for managing these
    risks on a
    <FONT style="white-space: nowrap">day-to-day</FONT>
    basis within the framework of their established risk management
    functions, the Board also addresses risk management of the Fund
    through its meetings and those of the committees and working
    groups. As part of its general oversight, the Board reviews with
    the Adviser at Board meetings the levels and types of risks,
    including options risk being undertaken by the Fund, and the
    Audit Committee discusses the Fund&#146;s risk management and
    controls with the independent registered public accounting firm
    engaged by the Fund. The Board reviews valuation policies and
    procedures and the valuations of specific illiquid securities.
    The Board also receives periodic reports from the Fund&#146;s
    Chief Compliance Officer regarding compliance matters relating
    to the Fund and its major service providers, including results
    of the implementation and testing of the Fund&#146;s and such
    providers&#146; compliance programs. The Board&#146;s oversight
    function is facilitated by management reporting processes
    designed to provide visibility to the Board regarding the
    identification, assessment, and management of critical risks,
    and the controls and policies and procedures used to mitigate
    those risks. The Board reviews its role in supervising the
    Fund&#146;s risk management from time to time and may make
    changes at its discretion at any time.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Board has determined that its leadership structure is
    appropriate for the Fund because it enables the Board to
    exercise informed and independent judgment over matters under
    its purview, allocates responsibility among committees in a
    manner that fosters effective oversight, and allows the Board to
    devote appropriate resources to specific issues in a flexible
    manner as they arise. The Board periodically reviews its
    leadership structure as well as its overall structure,
    composition, and functioning, and may make changes at its
    discretion at any time.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    8
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Beneficial
    Ownership of Shares&#160;Held in the Fund and the Family of
    Investment Companies for each Trustee and Nominee for Election
    as Trustee</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Set forth in the table below is the dollar range of equity
    securities in the Fund beneficially owned by each Trustee and
    nominee for election as Trustee and the aggregate dollar range
    of equity securities in the Fund&#160;Complex beneficially owned
    by each Trustee and nominee for election as Trustee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="49%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="17%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="29%">&nbsp;</TD>	<!-- colindex=03 type=maindata -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Dollar Range of Equity<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Aggregate Dollar Range of Equity<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Securities Held<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Securities Held in<BR>
    </B>
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name of Trustee/Nominee</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>in the Fund*(1)</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Family of Investment Companies*(1)(2)</B>
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><U>INTERESTED TRUSTEE</U>:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Salvatore M. Salibello
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    A
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    E
</TD>
</TR>
<TR valign="bottom" style="line-height: 9pt">
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><U>INDEPENDENT TRUSTEES/NOMINEES</U>:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Anthony J. Colavita
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    B
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    E
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    James P. Conn
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    D
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    E
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Mario d&#146;Urso
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    A
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    C
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Vincent D. Enright
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    A
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    E
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Frank J. Fahrenkopf, Jr.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    A
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    B
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Michael J. Melarkey
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    C
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    E
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Anthonie C. van Ekris**
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    C
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    E
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Salvatore J. Zizza
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    C
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    E
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD valign="top">
    <FONT style="font-size: 8pt">*
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Key to Dollar Ranges
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">A.&#160;&#160;None
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">B.&#160;&#160;$1&#160;&#151; $10,000
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">C.&#160;&#160;$10,001&#160;&#151;
    $50,000
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">D.&#160;&#160;$50,001&#160;&#151;
    $100,000
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">E.&#160;&#160;Over $100,000
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
</TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">All shares were valued as of
    December&#160;31, 2010.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <FONT style="font-size: 8pt">**
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Mr. van Ekris beneficially owns
    less than 1% of the common stock of LICT Corp., having a value
    of $63,600 as of December&#160;31, 2010. The LICT Corp. may be
    deemed to be controlled by Mario J. Gabelli
    <FONT style="white-space: nowrap">and/or</FONT>
    affiliates and in that event would be deemed to be under common
    control with the Fund&#146;s Adviser.
    </FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD valign="top">
    <FONT style="font-size: 8pt">(1)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">This information has been furnished
    by each Trustee and nominee for election as Trustee as of
    December&#160;31, 2010. &#147;Beneficial Ownership&#148; is
    determined in accordance with
    <FONT style="white-space: nowrap">Rule&#160;16a-1(a)(2)</FONT>
    of the Securities Exchange Act of 1934, as amended (the
    &#147;1934&#160;Act&#148;).
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD valign="top">
    <FONT style="font-size: 8pt">(2)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">The term &#147;Family of Investment
    Companies&#148; includes two or more registered funds that share
    the same investment adviser or principal underwriter and hold
    themselves out to investors as related companies for purposes of
    investment and investor services. Currently, the registered
    funds that comprise the &#147;Fund&#160;Complex&#148; are
    identical to those that comprise the &#147;Family of Investment
    Companies.&#148;
    </FONT></TD>
</TR>

</TABLE>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    9
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Set forth in the table below is the amount of shares
    beneficially owned by each Trustee, nominee for election as
    Trustee, and executive officer of the Fund.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="60%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="22%">&nbsp;</TD>	<!-- colindex=02 type=maindata -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="11%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    <B>Amount and Nature of<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Percent of Shares<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name of Trustee/Nominee/Officer</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Beneficial
    Ownership<SUP style="font-size: 85%; vertical-align: top">(1)</SUP></B>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Outstanding<SUP style="font-size: 85%; vertical-align: top">(2)</SUP></B>

</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><U>INTERESTED TRUSTEE</U>:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Salvatore M. Salibello
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><U>INDEPENDENT
    TRUSTEES/NOMINEES</U>:</B><SUP style="font-size: 85%; vertical-align: top">(4)</SUP>

</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Anthony J. Colavita
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    370<SUP style="font-size: 85%; vertical-align: top">(3)</SUP>

</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    James P. Conn
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    5,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Mario d&#146;Urso
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Vincent D. Enright
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Frank J. Fahrenkopf, Jr.&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Michael J. Melarkey
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    1,602
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Anthonie C. van Ekris
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    2,300
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Salvatore J. Zizza
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    1,000
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><U>OFFICERS</U>:</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom" style="background: #CCEEFF">
<TD align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Bruce N. Alpert
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD align="center" valign="bottom">
    1,200 Preferred
    Shares<SUP style="font-size: 85%; vertical-align: top">(5)</SUP>

</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 20pt">
    Agnes Mullady
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="center" valign="bottom">
    0
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    *
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(1)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">This information has been furnished
    by each Trustee, including each nominee for election as Trustee,
    and executive officer as of December&#160;31, 2010.
    &#147;Beneficial Ownership&#148; is determined in accordance
    with Rule&#160;13(d)(3) of the 1934&#160;Act. Reflects ownership
    of common shares unless otherwise noted.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(2)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">An asterisk indicates that the
    ownership amount constitutes less than 1% of the total shares
    outstanding. The Trustees, including nominees for election as
    Trustee, and executive officers ownership as a group constitutes
    less than 1% of the total Common Shares or Preferred Shares
    outstanding.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(3)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">All 370 Common Shares are owned by
    Mr.&#160;Colavita&#146;s spouse for which he disclaims
    beneficial ownership.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(4)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">None of the Independent Trustees
    nor their family members had any interest in the Adviser or any
    person directly or indirectly controlling, controlled by, or
    under common control with the Adviser as of December&#160;31,
    2010.
    </FONT></TD>
</TR>


<TR style="line-height: 3pt; font-size: 1pt"><TD>&nbsp;</TD></TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">(5)
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Includes 400 Preferred Shares owned
    by Mr.&#160;Alpert&#146;s spouse for which he disclaims
    beneficial ownership.
    </FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Fund pays each Trustee who is not affiliated with the
    Adviser or its affiliates a fee of $6,000 per year plus $1,000
    per Board meeting attended, $500 per standing Committee meeting
    attended, and $500 per telephonic meeting attended, together
    with the Trustee&#146;s actual
    <FONT style="white-space: nowrap">out-of-pocket</FONT>
    expenses relating to his attendance at such meetings. In
    addition, the lead independent Trustee receives an annual fee of
    $1,000, the Audit Committee Chairman receives an annual fee of
    $3,000, and the Nominating Committee Chairman receives an annual
    fee of $2,000. A Trustee may receive a single meeting fee,
    allocated among the participating funds, for participation in
    certain meetings on behalf of multiple funds. The aggregate
    remuneration (excluding
    <FONT style="white-space: nowrap">out-of-pocket</FONT>
    expenses) paid by the Fund to such Trustees during the fiscal
    year ended December&#160;31, 2010 amounted to $105,322. During
    the fiscal year ended December&#160;31, 2010, the Trustees of
    the Fund met six times, two of which were special meetings of
    the Board of Trustees. Each Trustee then serving in such
    capacity attended at least 75% of the meetings of Trustees and
    of any Committee of which he is a member.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">The Audit
    Committee and Audit Committee Report</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The role of the Fund&#146;s Audit Committee is to assist the
    Board of Trustees in its oversight of (i)&#160;the quality and
    integrity of the Fund&#146;s financial statement reporting
    process and the independent audit and reviews thereof;
    (ii)&#160;the Fund&#146;s accounting and financial reporting
    policies and practices, its internal controls, and, as
    appropriate, the internal controls of certain of its service
    providers; (iii)&#160;the Fund&#146;s compliance with legal and
    regulatory requirements; and (iv)&#160;the independent
    registered public accounting firm&#146;s qualifications,
    independence, and performance. The Audit Committee also is
    required to prepare an audit committee report pursuant to the
    rules of the Securities and Exchange Commission (the
    &#147;SEC&#148;) for inclusion in the Fund&#146;s annual proxy
    statement. The Audit Committee operates pursuant to the Audit
    Committee Charter (the &#147;Audit Charter&#148;) that was most
    recently
</DIV>
<!-- XBRL Paragraph Pagebreak -->
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    10
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    reviewed and approved by the Board of Trustees on
    February&#160;16, 2011. The Audit Charter is available on the
    Fund&#146;s website at
    www.gabelli.com/corporate/closed/corp_gov.html.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Pursuant to the Audit Charter, the Audit Committee is
    responsible for conferring with the Fund&#146;s independent
    registered public accounting firm, reviewing annual financial
    statements, approving the selection of the Fund&#146;s
    independent registered public accounting firm, and overseeing
    the Fund&#146;s internal controls. The Audit Charter also
    contains provisions relating to the pre-approval by the Audit
    Committee of audit and non-audit services to be provided by
    PricewaterhouseCoopers LLP (&#147;PricewaterhouseCoopers&#148;)
    to the Fund and to the Adviser and certain of its affiliates.
    The Audit Committee advises the full Board with respect to
    accounting, auditing, and financial matters affecting the Fund.
    As set forth in the Audit Charter, management is responsible for
    maintaining appropriate systems for accounting and internal
    control, and the Fund&#146;s independent registered public
    accounting firm is responsible for planning and carrying out
    proper audits and reviews. The independent registered public
    accounting firm is ultimately accountable to the Board of
    Trustees and to the Audit Committee, as representatives of
    shareholders. The independent registered public accounting firm
    for the Fund reports directly to the Audit Committee.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In performing its oversight function, at a meeting held on
    February&#160;14, 2011, the Audit Committee reviewed and
    discussed with management of the Fund and PricewaterhouseCoopers
    the audited financial statements of the Fund as of and for the
    fiscal year ended December&#160;31, 2010, and discussed the
    audit of such financial statements with the independent
    registered public accounting firm.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    In addition, the Audit Committee discussed with the independent
    registered public accounting firm the accounting principles
    applied by the Fund and such other matters brought to the
    attention of the Audit Committee by the independent registered
    public accounting firm as required by Statement of Auditing
    Standards No.&#160;61, as amended (AICPA, Professional
    Standards, Vol. 1 AU Section&#160;380), as adopted by the Public
    Company Accounting Oversight Board (United States)
    (&#147;PCAOB&#148;) in Rule&#160;3200T. The Audit Committee also
    received from the independent registered public accounting firm
    the written disclosures and statements required by the
    SEC&#146;s independence rules, delineating relationships between
    the independent registered public accounting firm and the Fund,
    and discussed the impact that any such relationships might have
    on the objectivity and independence of the independent
    registered public accounting firm.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    As set forth above, and as more fully set forth in the Audit
    Charter, the Audit Committee has significant duties and powers
    in its oversight role with respect to the Fund&#146;s financial
    reporting procedures, internal control systems, and the
    independent audit process.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The members of the Audit Committee are not, and do not represent
    themselves to be, professionally engaged in the practice of
    auditing or accounting and are not employed by the Fund for
    accounting, financial management, or internal control purposes.
    Moreover, the Audit Committee relies on and makes no independent
    verification of the facts presented to it or representations
    made by management or the Fund&#146;s independent registered
    public accounting firm. Accordingly, the Audit Committee&#146;s
    oversight does not provide an independent basis to determine
    that management has maintained appropriate accounting
    <FONT style="white-space: nowrap">and/or</FONT>
    financial reporting principles and policies, or internal
    controls and procedures, designed to assure compliance with
    accounting standards and applicable laws and regulations.
    Furthermore, the Audit Committee&#146;s considerations and
    discussions referred to above do not provide assurance that the
    audit of the Fund&#146;s financial statements has been carried
    out in accordance with the standards of the PCAOB or that the
    financial statements are presented in accordance with generally
    accepted accounting principles (United States).
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Based on its consideration of the audited financial statements
    and the discussions referred to above with management and the
    Fund&#146;s independent registered public accounting firm, and
    subject to the limitations on the responsibilities and role of
    the Audit Committee set forth in the Audit Charter and those
    discussed above, the Audit Committee recommended to the
    Fund&#146;s Board of Trustees that the Fund&#146;s audited
    financial statements be included in the Fund&#146;s Annual
    Report for the fiscal year ended December&#160;31, 2010.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>Submitted by the Audit Committee of the Fund&#146;s Board of
    Trustees</B>
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Salvatore J. Zizza, Chairman
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Vincent D. Enright
</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Frank J. Fahrenkopf, Jr.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 4%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    February&#160;16, 2011
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    11
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Audit Committee met three times during the fiscal year ended
    December&#160;31, 2010. The Audit Committee is composed of three
    of the Fund&#146;s Independent Trustees, namely
    Messrs.&#160;Enright, Fahrenkopf, and Zizza. The Fund has
    certified that each member of the Audit Committee is able to
    read and understand fundamental financial statements, including
    those of the Fund. Mr. Zizza has been designated as the
    Fund&#146;s audit committee financial expert, as defined in
    Items 407(d)(5)(ii) and (iii) of Regulation S-K.
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Nominating
    Committee</FONT></B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Board of Trustees has a Nominating Committee composed of
    three of the Fund&#146;s Independent Trustees, namely
    Messrs.&#160;Colavita (Chairman), Melarkey, and Zizza. Each
    Nominating Committee member is an Independent Trustee as
    determined under NYSE Amex LLC guidelines. The Nominating
    Committee met once during the fiscal year ended
    December&#160;31, 2010. The Nominating Committee is responsible
    for identifying and recommending qualified candidates to the
    Board in the event that a position is vacated or created. The
    Nominating Committee will consider recommendations by
    shareholders if a vacancy were to exist. In considering
    candidates submitted by shareholders, the Nominating Committee
    will take into consideration the needs of the Board, the
    qualifications of the candidate, and the interests of
    shareholders. The Nominating Committee may also take into
    consideration the number of shares held by the recommending
    shareholder and the length of time that such shares have been
    held. To recommend a candidate for consideration by the
    Nominating Committee, a shareholder must submit the
    recommendation in writing and must include the following
    information:
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
    <TD width="4%"></TD>
    <TD width="2%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The name of the shareholder and evidence of the
    shareholder&#146;s ownership of shares of the Fund, including
    the number of shares owned and the length of time of ownership;
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    The name of the candidate, the candidate&#146;s resume or a
    listing of his or her qualifications to be a Trustee of the
    Fund, and the person&#146;s consent to be named as a Trustee if
    selected by the Nominating Committee and nominated by the Board
    of Trustees;&#160;and
</TD>
</TR>


<TR style="line-height: 4pt; font-size: 1pt"><TD>&nbsp;</TD></TR>


<TR valign="top" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <TD>&nbsp;</TD>
    <TD>    &#149;&#160;
</TD>
    <TD align="left">
    If requested by the Nominating Committee, a completed and signed
    trustee&#146;s questionnaire, including a supplement to the
    candidate&#146;s satisfaction of the qualification requirements
    set forth in the Fund&#146;s By-Laws.
</TD>
</TR>

</TABLE>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The shareholder recommendation and information described above
    must be sent to the Fund&#146;s Secretary,
    <FONT style="white-space: nowrap">c/o&#160;Gabelli</FONT>
    Funds, LLC, One Corporate Center, Rye, NY
    <FONT style="white-space: nowrap">10580-1422,</FONT>
    and must be received by the Secretary no less than 120&#160;days
    prior to the first anniversary of the date of the Proxy
    statement for the preceding year&#146;s annual meeting or, if
    the meeting has moved by more than twenty-five&#160;days, no
    less than ten&#160;days following the date on which notice of
    the mailing, or public announcement of the date of such annual
    meeting is first made.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Nominating Committee believes that the minimum
    qualifications for serving as a Trustee of the Fund are that the
    individual demonstrate, by significant accomplishment in his or
    her field, an ability to make a meaningful contribution to the
    Board of Trustees&#146; oversight of the business and affairs of
    the Fund and have an impeccable record and reputation for honest
    and ethical conduct in both his or her professional and personal
    activities. In addition, the Nominating Committee examines a
    candidate&#146;s specific experiences and skills, time
    availability in light of other commitments, potential conflicts
    of interest, and independence from management and the Fund.
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Nominating Committee considers the overall composition of
    the Board, bearing in mind the benefits that may be derived from
    having members who have a variety of experiences,
    qualifications, attributes, or skills useful in overseeing a
    publicly traded, highly regulated entity such as the Fund. The
    Fund&#146;s governing documents state that a nominee for Trustee
    shall be at least twenty-one&#160;years of age and not older
    than such maximum age, if any, as the Trustees may determine and
    shall not be under legal disability. The Trustees have not
    determined a maximum age. The Nominating Committee does not have
    a formal policy regarding the consideration of diversity in
    identifying trustee candidates. For a discussion of experiences,
    qualifications, attributes, or skills supporting the
    appropriateness of each Trustee&#146;s service on the
    Fund&#146;s Board, see the biographical information of the
    Trustees above in the section entitled &#147;Information about
    Trustees and Officers.&#148;
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Board of Trustees adopted a Nominating Committee Charter on
    February&#160;14, 2005. The charter is available on the
    Fund&#146;s website at
    www.gabelli.com/corporate/closed/corp_gov.html.
</DIV>

<DIV style="margin-top: 8pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Other
    Board Related Matters</FONT></B>
</DIV>

<DIV style="margin-top: 4pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Board of Trustees has established the following procedures
    in order to facilitate communications among the Board and the
    shareholders of the Fund and other interested parties.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    12
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <U><FONT style="font-family: 'Times New Roman', Times">Receipt
    of Communications</FONT></U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Shareholders and other interested parties may contact the Board
    or any member of the Board by mail or electronically. To
    communicate with the Board or any member of the Board,
    correspondence should be addressed to the Board or the Board
    member(s) with whom you wish to communicate either by name or
    title. All such correspondence should be sent to The Gabelli
    Global Gold, Natural Resources &#038; Income Trust, Gabelli
    Funds, LLC, One Corporate Center, Rye, NY 10580&#160;-1422. To
    communicate with the Board electronically, shareholders may go
    to the corporate website at www.gabelli.com under the heading
    &#147;Our Firm/Contact Us/Email Addresses/Board of Directors
    (Gabelli Closed-End Funds).&#148;
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <U><FONT style="font-family: 'Times New Roman', Times">Forwarding
    the Communications</FONT></U>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    All communications received will be opened by the office of the
    General Counsel of the Adviser for the sole purpose of
    determining whether the contents represent a message to one or
    more Trustees. The office of the General Counsel will forward
    promptly to the addressee(s) any contents that relate to the
    Fund and that are not in the nature of advertising, promotion of
    a product or service, or patently offensive or otherwise
    objectionable material. In the case of communications to the
    Board of Trustees or any committee or group of members of the
    Board, the General Counsel&#146;s office will make sufficient
    copies of the contents to send to each Trustee who is a member
    of the group or committee to which the envelope or
    <FONT style="white-space: nowrap">e-mail</FONT> is
    addressed.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Fund does not expect Trustees or nominees for election as
    Trustee to attend the Annual Meeting of Shareholders.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The following table sets forth certain information regarding the
    compensation of the Trustees by the Fund and executive officers,
    if any, who were compensated by the Fund rather then the
    Adviser, for the fiscal year ended December&#160;31, 2010.
</DIV>


<!-- link1 "COMPENSATION TABLE FOR THE FISCAL YEAR ENDED DECEMBER 31, 2010" -->


<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">COMPENSATION
    TABLE</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>FOR THE FISCAL YEAR ENDED DECEMBER 31, 2010</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="54%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="2%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="16%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="3%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="21%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Aggregate Compensation from<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Aggregate Compensation<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>the Fund and Fund Complex<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="left" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Name of Person and Position</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>from the Fund</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Paid to Trustees*</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><U>INTERESTED TRUSTEE:</U></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Salvatore M. Salibello</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,333
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    37,000
</TD>
<TD nowrap align="left" valign="bottom">
    (3)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trustee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B><U>INDEPENDENT TRUSTEES/NOMINEES:</U></B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Anthony J. Colavita</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12,611
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    254,500
</TD>
<TD nowrap align="left" valign="bottom">
    (33)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trustee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>James P. Conn</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    12,125
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    144,500
</TD>
<TD nowrap align="left" valign="bottom">
    (17)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trustee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Mario d&#146;Urso</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,125
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    46,500
</TD>
<TD nowrap align="left" valign="bottom">
    (4)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trustee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Vincent D. Enright</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11,250
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    131,000
</TD>
<TD nowrap align="left" valign="bottom">
    (15)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trustee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Frank J. Fahrenkopf, Jr.</B>&#160;
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11,100
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    73,500
</TD>
<TD nowrap align="left" valign="bottom">
    (5)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trustee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Michael J. Melarkey</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    11,750
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    50,000
</TD>
<TD nowrap align="left" valign="bottom">
    (4)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trustee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Anthonie C. van Ekris</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    10,250
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    124,000
</TD>
<TD nowrap align="left" valign="bottom">
    (19)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trustee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    <B>Salvatore J. Zizza</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    15,778
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    212,000
</TD>
<TD nowrap align="left" valign="bottom">
    (27)
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="left" valign="top">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    Trustee
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD valign="top">
    <FONT style="font-size: 8pt">*
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">Represents the total compensation
    paid to such persons during the fiscal year ended
    December&#160;31, 2010 by investment companies (including the
    Fund) or portfolios thereof from which such person receives
    compensation that are considered part of the same fund complex
    as the Fund because they have common or affiliated investment
    advisers. The number in parentheses represents the number of
    such investment companies and portfolios.
    </FONT></TD>
</TR>

</TABLE>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    13
</DIV><!-- END PAGE WIDTH -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Required
    Vote</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The election of each of the listed nominees for Trustee of the
    Fund requires the affirmative vote of the holders of a plurality
    of the applicable class or classes of Shares of the Fund
    represented at the Meeting if a quorum is present.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>THE BOARD OF TRUSTEES, INCLUDING THE INDEPENDENT TRUSTEES,
    UNANIMOUSLY RECOMMENDS THAT THE COMMON AND PREFERRED
    SHAREHOLDERS VOTE &#147;FOR&#148; THE ELECTION OF EACH
    NOMINEE.</B>
</DIV>

<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">ADDITIONAL
    INFORMATION</FONT></B>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Independent
    Registered Public Accounting Firm</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    PricewaterhouseCoopers, 300 Madison Avenue, New York, NY 10017,
    has been selected to serve as the Fund&#146;s independent
    registered public accounting firm for the fiscal year ending
    December&#160;31, 2011. PricewaterhouseCoopers acted as the
    Fund&#146;s independent registered public accounting firm for
    the fiscal year ended December&#160;31, 2010. The Fund knows of
    no direct financial or material indirect financial interest of
    PricewaterhouseCoopers in the Fund. A representative of
    PricewaterhouseCoopers will not be present at the Meeting, but
    will be available by telephone and will have an opportunity to
    make a statement, if asked, and will be available to respond to
    appropriate questions.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Set forth in the table below are audit fees and non-audit
    related fees billed to the Fund by Pricewaterhouse Coopers for
    professional services received during and for the Fund&#146;s
    fiscal years ended December&#160;31, 2009 and 2010, respectively.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<TABLE border="0" width="100%" align="center" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
<!-- Table Width Row BEGIN -->
<TR style="font-size: 1pt" valign="bottom">
    <TD width="19%">&nbsp;</TD>	<!-- colindex=01 type=maindata -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=02 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=02 type=lead -->
    <TD width="7%" align="right">&nbsp;</TD>	<!-- colindex=02 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=02 type=hang1 -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=03 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=03 type=lead -->
    <TD width="10%" align="right">&nbsp;</TD>	<!-- colindex=03 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=03 type=hang1 -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=04 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=04 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=04 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=04 type=hang1 -->
    <TD width="10%">&nbsp;</TD>	<!-- colindex=05 type=gutter -->
    <TD width="1%" align="right">&nbsp;</TD>	<!-- colindex=05 type=lead -->
    <TD width="8%" align="right">&nbsp;</TD>	<!-- colindex=05 type=body -->
    <TD width="1%" align="left">&nbsp;</TD>	<!-- colindex=05 type=hang1 -->
</TR>
<!-- Table Width Row END -->
<!-- TableOutputHead -->
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
    <B>Fiscal Year Ended<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>Audit Related<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
    <B>All<BR>
    </B>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom" align="center">
<TD nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>December 31</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Audit Fees</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Fees*</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom" style="border-bottom: 1px solid #000000">
    <B>Tax Fees**</B>
</TD>
<TD>
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD colspan="2" nowrap align="center" valign="bottom">
<DIV style="border-bottom: 1px solid #000000; width: 1%; padding-bottom: 1px">
    <B>Other Fees</B>
</DIV>
</TD>
<TD>
&nbsp;
</TD>
</TR>
<TR style="line-height: 3pt; font-size: 1pt">
<TD>&nbsp;
</TD>
</TR>
<!-- TableOutputBody -->
<TR valign="bottom">
<TD nowrap align="center" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2009
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    58,300
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    7,467
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    6,000
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
<TR valign="bottom">
<TD nowrap align="center" valign="bottom">
<DIV style="text-indent: -10pt; margin-left: 10pt">
    2010
</DIV>
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    47,803
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    22,769
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
    $
</TD>
<TD nowrap align="right" valign="bottom">
    4,750
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD>
&nbsp;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
<TD nowrap align="right" valign="bottom">
    &#151;
</TD>
<TD nowrap align="left" valign="bottom">
&nbsp;
</TD>
</TR>
</TABLE>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV style="font-size: 1pt; margin-left: 0%; width: 13%;  align: left; border-bottom: 1pt solid #000000"></DIV>

<DIV style="margin-top: 3pt; font-size: 1pt">&nbsp;</DIV>



<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

<TR>
    <TD width="1%"></TD>
    <TD width="1%"></TD>
    <TD width="98%"></TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">*&#160;
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">&#147;Audit Related Fees&#148; are
    those estimated fees billed to the Fund by
    PricewaterhouseCoopers in connection with the preparation of
    Preferred Shares&#160;Reports to Moody&#146;s Investors Service,
    Inc. and review and issuance of consent letters and comfort
    letters in connection with the filing of the Fund&#146;s
    registration statements on
    <FONT style="white-space: nowrap">Form&#160;N-2.</FONT>
    </FONT></TD>
</TR>




<TR>
    <TD align="right" valign="top">
    <FONT style="font-size: 8pt">**
    </FONT></TD>
    <TD></TD>
    <TD valign="bottom">
    <FONT style="font-size: 8pt">&#147;Tax Fees&#148; are those fees
    billed by PricewaterhouseCoopers in connection with tax
    compliance services, including primarily the review of the
    Fund&#146;s income tax returns.
    </FONT></TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Fund&#146;s Audit Charter requires that the Audit Committee
    pre-approve all audit and non-audit services to be provided by
    the independent registered public accounting firm to the Fund,
    and all non-audit services to be provided by the independent
    registered public accounting firm to the Fund&#146;s Adviser and
    service providers controlling, controlled by, or under common
    control with the Fund&#146;s Adviser (&#147;affiliates&#148;)
    that provide ongoing services to the Fund (a &#147;Covered
    Services Provider&#148;), if the engagement relates directly to
    the operations and financial reporting of the Fund. The Audit
    Committee may delegate its responsibility to pre-approve any
    such audit and permissible non-audit services to the Chairman of
    the Audit Committee, and the Chairman must report his
    decision(s) to the Audit Committee at its next regularly
    scheduled meeting after the Chairman&#146;s pre-approval of such
    services. The Audit Committee may also establish detailed
    pre-approval policies and procedures for pre-approval of such
    services in accordance with applicable laws, including the
    delegation of some or all of the Audit Committee&#146;s
    pre-approval responsibilities to other persons (other than the
    Adviser or the Fund&#146;s officers). Pre-approval by the Audit
    Committee of any permissible non-audit services is not required
    so long as: (i)&#160;the aggregate amount of all such
    permissible non-audit services provided to the Fund, the
    Adviser, and any Covered Services Provider constitutes not more
    than 5% of the total amount of revenues paid by the Fund to its
    independent registered public accounting firm during the year in
    which the permissible non-audit services are provided;
    (ii)&#160;the permissible non-audit services were not recognized
    by the Fund at the time of the engagement to be non-audit
    services; and (iii)&#160;such services are promptly brought to
    the attention of the Audit Committee and approved by the Audit
    Committee or the Chairman prior to the completion of the audit.
    All of the audit, audit related, and tax services described
    above for which PricewaterhouseCoopers billed the Fund fees for
    the fiscal years ended December&#160;31, 2009 and
    December&#160;31, 2010 were pre-approved by the Audit Committee.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    14
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For the fiscal years ended December&#160;31, 2009 and 2010,
    Pricewaterhouse Coopers has represented to the Fund that it did
    not provide any non-audit services (or bill any fees for such
    services) to the Adviser or any affiliates thereof that provide
    services to the Fund.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">The
    Investment Adviser and Administrator</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Gabelli Funds, LLC is the Fund&#146;s Adviser and Administrator
    and its business address is One Corporate Center, Rye, New York
    <FONT style="white-space: nowrap">10580-1422.</FONT>
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Section&#160;16(a)
    Beneficial Ownership Reporting Compliance</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Section&#160;16(a) of the 1934&#160;Act and Section&#160;30(h)
    of the 1940 Act, and the rules thereunder, require the
    Fund&#146;s executive officers and Trustees, executive officers
    and directors of the Adviser, certain other affiliated persons
    of the Adviser, and persons who own more than 10% of a
    registered class of the Fund&#146;s securities to file reports
    of ownership and changes in ownership with the SEC and the NYSE
    Amex LLC and to furnish the Fund with copies of all
    Section&#160;16(a) forms they file. Based solely on the
    Fund&#146;s review of the copies of such forms it received for
    the fiscal year ended December&#160;31, 2010, the Fund believes
    that during that year such persons complied with all such
    applicable filing requirements.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">Broker
    Non-Votes and Abstentions</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    For purposes of determining the presence of a quorum for
    transacting business at the Meeting, abstentions and broker
    &#147;non-votes&#148; (that is, proxies from brokers or nominees
    indicating that such persons have not received instructions from
    the beneficial owner or other persons entitled to vote shares on
    a particular matter with respect to which the brokers or
    nominees do not have discretionary power) will be treated as
    shares that are present but that have not been voted.
    Accordingly, shareholders are urged to forward their voting
    instructions promptly.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The affirmative vote of a plurality of votes cast for each
    nominee by the shareholders entitled to vote for a particular
    nominee is necessary for the election of a Trustee. Abstentions
    or broker non-votes will not be counted as votes cast and will
    have no effect on the result of the vote. Abstentions or broker
    non-votes, however, will be considered to be present at the
    Meeting for purposes of determining the existence of a quorum.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Brokers holding shares of the Fund in &#147;street name&#148;
    for the benefit of their customers and clients will request the
    instructions of such customers and clients on how to vote their
    shares on Proposal&#160;1 before the Meeting. Under the rules of
    the New York Stock Exchange, such brokers may, for certain
    &#147;routine&#148; matters, grant discretionary authority to
    the proxies designated by the Board to vote if no instructions
    have been received from their customers and clients prior to the
    date specified in the brokers&#146; request for voting
    instructions. Proposal&#160;1 is a &#147;routine&#148; matter
    and accordingly beneficial owners who do not provide proxy
    instructions or who do not return a proxy card may have their
    shares voted by broker-dealer firms in favor of Proposal&#160;1.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Shareholders of the Fund will be informed of the voting results
    of the Meeting in the Fund&#146;s Semi-Annual Report for the six
    months ended June&#160;30, 2011.
</DIV>

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">&#147;Householding&#148;</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    Please note that only one annual or semi-annual report or Proxy
    Statement or Notice of Internet Availability of Proxy Materials
    may be delivered to two or more shareholders of the Fund who
    share an address, unless the Fund has received instructions to
    the contrary. To request a separate copy of an annual report or
    semi-annual report or this Proxy Statement or Notice of Internet
    Availability of Proxy Materials, or for instructions regarding
    how to request a separate copy of these documents or regarding
    how to request a single copy if multiple copies of these
    documents are received, shareholders should contact the Fund at
    the address and phone number set forth above.
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    15
</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->


<!-- link1 "OTHER MATTERS TO COME BEFORE THE MEETING" -->


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">OTHER
    MATTERS TO COME BEFORE THE MEETING</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Trustees of the Fund do not intend to present any other
    business at the Meeting, nor are they aware that any shareholder
    intends to do so. If, however, any other matters, including
    adjournments, are properly brought before the Meeting, the
    persons named in the accompanying proxy will vote thereon in
    accordance with their judgment.
</DIV>


<!-- link1 "SHAREHOLDER PROPOSALS" -->


<DIV style="margin-top: 18pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="center" style="margin-left: 0%; margin-right: 0%; font-size: 10pt; font-family: Arial, Helvetica; color: #000000; background: transparent">

    <B><FONT style="font-family: 'Times New Roman', Times">SHAREHOLDER
    PROPOSALS</FONT></B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    All proposals by shareholders of the Fund which are intended to
    be presented at the Fund&#146;s next Annual Meeting of
    Shareholders to be held in 2012 (the &#147;2012 Annual
    Meeting&#148;) must be received by the Fund for consideration
    for inclusion in the Fund&#146;s 2012 proxy statement and 2012
    proxy relating to that meeting no later than January&#160;17,
    2012. Rule 14a-8 under the 1934 Act
    (&#147;Rule&#160;14a-8&#148;) specifies a number of procedural
    and eligibility requirements to be satisfied by a shareholder
    submitting a proposal for inclusion in the Fund&#146;s proxy
    materials pursuant to this Rule. Any shareholder contemplating
    submissions of such a proposal is referred to Rule&#160;14a-8.
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    The Fund&#146;s By-Laws require shareholders that wish to
    nominate Trustees or make proposals to be voted on at an Annual
    Meeting of the Fund&#146;s Shareholders (and which are not
    proposed to be included in the Fund&#146;s proxy materials
    pursuant to
    <FONT style="white-space: nowrap">Rule&#160;14a-8</FONT>
    under the 1934&#160;Act) to provide timely notice of the
    nomination or proposal in writing. To be considered timely for
    the 2012 Annual Meeting, any such notice must be delivered to or
    mailed and received at the principal executive offices of the
    Fund at the address set forth on the first page of this proxy
    statement no earlier than 9:00&#160;a.m.&#160;Eastern time on
    December&#160;18, 2011 and no later than 5:00&#160;p.m. Eastern
    time on January&#160;17, 2012; provided, however, that if the
    2012 Annual Meeting is to be held on a date that is earlier than
    April&#160;21, 2012 or later than June&#160;10, 2012, such
    notice must be received by the Fund no later than 5:00&#160;p.m.
    Eastern time on the tenth day following the date on which public
    announcement of the date of the 2012 Annual Meeting was first
    made. Any such notice by a shareholder shall set forth the
    information required by the Fund&#146;s By-Laws with respect to
    each nomination or matter the shareholder proposes to bring
    before the 2012 Annual Meeting.
</DIV>
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<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    16
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
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<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>IT IS IMPORTANT THAT PROXIES BE RETURNED PROMPTLY.</B>
</DIV>

<DIV style="margin-top: 6pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 4%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <B>SHAREHOLDERS MAY PROVIDE THEIR VOTE BY TELEPHONE OR THE
    INTERNET BY FOLLOWING THE INSTRUCTIONS&#160;ACCOMPANYING THE
    PROXY CARD, VOTING INSTRUCTION FORM OR SET FORTH IN THE NOTICE
    OF INTERNET AVAILABILITY OF PROXY MATERIALS.</B>
</DIV>

<DIV style="margin-top: 24pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="left" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    April&#160;6, 2011
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="center" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    <BR>
    17
</DIV><!-- END PAGE WIDTH -->
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="width: 87%; margin-left: 6%"><!-- BEGIN PAGE WIDTH -->
<!-- XBRL Pagebreak End -->

<DIV style="margin-top: 12pt; font-size: 1pt">&nbsp;</DIV>

<DIV align="right" style="margin-left: 0%; margin-right: 0%; text-indent: 0%; font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">
    GGN-PS-2011
</DIV>
<!-- XBRL Pagebreak Begin -->

<P align="left" style="font-size: 10pt; font-family: 'Times New Roman', Times; color: #000000; background: transparent">

</DIV><!-- END PAGE WIDTH -->
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: Helvetica,Arial,sans-serif">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 60%"><IMG src="b84379a1b8437901.gif" alt="(LOGO)">

</DIV>
<P><DIV style="position: relative; float: left; width: 5%">

<DIV align="left" style="font-size: 10pt; margin-top: 12pt">&nbsp;
</DIV>

</DIV>
<DIV style="position: relative; float: left; margin-left: 2%; width: 45%">
<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="45%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>PROXY TABULATOR</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>P.O. BOX 9112</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>FARMINGDALE, NY 11735</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom" style="line-height: 40pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>BROADRIDGE<br>
FINANCIAL SOLUTIONS, INC.<br>
ATTENTION:<br>
TEST PRINT<br>
51 MERCEDES WAY<br>
EDGEWOOD, NY<br>
11717</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom"><BR><BR style="font-size: 6pt"><IMG src="b84379a1b8437907.gif" alt="(LOGO)"><br><br>
<IMG src="b84379a1b8437903.gif" alt="(LOGO)">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<DIV style="position: relative; float: right; width: 45%">
<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="90%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>To vote by Internet</B><br><br>
<DIV style="margin-left:21px; text-indent:-21px">1)&nbsp;&nbsp;&nbsp;Read the Proxy Statement and have the proxy card below at hand.</DIV>
<DIV style="margin-left:21px; text-indent:-21px">2)&nbsp;&nbsp;&nbsp;Go to website <B>www.proxyvote.com</B></DIV>
<DIV style="margin-left:21px; text-indent:-21px">3)&nbsp;&nbsp;&nbsp;Follow the instructions provided on the website.</DIV><br>
<B>To vote by Telephone</B><br><br>
<DIV style="margin-left:21px; text-indent:-21px">1)&nbsp;&nbsp;&nbsp;Read the Proxy Statement and have the proxy card below at hand.</DIV>
<DIV style="margin-left:21px; text-indent:-21px">2)&nbsp;&nbsp;&nbsp;Call <B>1-800-690-6903</B></DIV>
<DIV style="margin-left:21px; text-indent:-21px">3)&nbsp;&nbsp;&nbsp;Follow the instructions.</DIV><br>
<B>To vote by Mail</B><br><br>
<DIV style="margin-left:21px; text-indent:-21px">1)&nbsp;&nbsp;&nbsp;Read the Proxy Statement.</DIV>
<DIV style="margin-left:21px; text-indent:-21px">2)&nbsp;&nbsp;&nbsp;Check the appropriate boxes on the proxy card below.</DIV>
<DIV style="margin-left:21px; text-indent:-21px">3)&nbsp;&nbsp;&nbsp;Sign and date the proxy card.</DIV>
<DIV style="margin-left:21px; text-indent:-21px">4)&nbsp;&nbsp;&nbsp;Return the proxy card in the envelope provided.</DIV>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><IMG src="b84379a1b8437902.gif" alt="(LOGO)"></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>
<BR clear="all"><BR>

<DIV align="right" style="font-size: 10pt; margin-top: 40pt"><IMG src="b84379a1b8437904.gif" alt="(LOGO)">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</DIV>

<P><DIV style="position: relative; float: left; width: 7%">

<DIV align="right" style="font-size: 10pt; margin-top: 230pt"><IMG src="b84379a1b8437906.gif" alt="(LOGO)"></DIV>

</DIV>
<DIV style="position: relative; float: right; width: 93%">
<DIV align="left" style="font-size: 7pt; margin-top: 6pt">TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-family: Wingdings">&#120;</FONT>
</DIV>

<DIV align="center">
<TABLE style="font-size: 6pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="16%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">M33646-P12103&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>KEEP THIS PORTION FOR YOUR RECORDS</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px dashed #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 3pt"><TD colspan="5">&nbsp;</TD></TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="font-size: 8pt" nowrap><B>THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>DETACH AND RETURN THIS PORTION ONLY</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV style="width: 100%; border: 2px solid black; padding: 6px; padding-bottom: 0px; margin-top: 3pt">


<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 1pt">
    <TD width="8%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="34%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="26%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" rowspan="3"><IMG src="b84379a1b8437905.gif" alt="(LOGO)"></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left" style="font-size: 6pt"><BR style="font-size: 6pt"><B>THE GABELLI GLOBAL GOLD, NATURAL RESOURCES &#038;<br>
INCOME TRUST COMMON SHAREHOLDER</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="7" valign="top" align="left" style="font-size: 10pt"><BR style="font-size: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>02&nbsp;&nbsp;&nbsp;000000000110</B></TD>
    <TD style="border-top: 2px solid #000000; border-right: 2px solid #000000">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD style="border-top: 0px solid #000000; border-right: 2px solid #000000">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD valign="top"><FONT style="BACKGROUND: #000000; WIDTH: 2%"><font style="font-size: 11pt"><FONT color=#ffffff>&nbsp;<B>A</B>&nbsp;</FONT></FONT></FONT>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><div align="Justify"><FONT style="font-size: 7pt">
<B>Election of Trustees&#151;The Board of
Trustees recommends a vote <U>FOR</U> each
of the nominees listed.</B></FONT></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>For<BR>
All</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Withhold<BR>
All</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>For All<BR>
Except</B></TD>
    <TD>&nbsp;</TD>
    <TD align="justify" valign="top" style="font-size: 6pt">To withhold
authority to vote
for any individual
nominee(s), mark
&#147;For All Except&#148;
and write the
name(s) of the
nominee(s) on the
line below.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="font-size: 7pt">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>1.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">To elect two (2)&nbsp;Trustees of the Fund:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Nominees:</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" valign="top" style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD align="left" valign="top">01)&nbsp;&nbsp;&nbsp;Frank J. Fahrenkopf, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD align="left" valign="top">02)&nbsp;&nbsp;&nbsp;Salvatore J. Zizza</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="line-height: 120pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>

<TD vAlign=top align=left><FONT style="BACKGROUND: #000000; WIDTH: 2%"><font style="font-size: 11pt"><FONT color=#ffffff>&nbsp;<B>B</B>&nbsp;</FONT></FONT></FONT></TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD colspan="9" valign="top" align="left"><FONT style="font-size: 7pt"><b>Authorized Signatures&#151;This section must be completed for your vote to be
counted.&#151;Sign and Date Below</b></FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="line-height: 6pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="11" valign="top" align="left"><div align="Justify">Please sign this proxy exactly as your name(s) appear(s) in the records of the Fund. If joint
owners, either may sign. Trustees and other fiduciaries should indicate the capacity in which they
sign, and where more than one name appears, a majority must sign. If a corporation, this signature
should be that of an authorized officer who should state his or her title.</div></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 6pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>

    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="border: 1px solid #000000">&nbsp;<br><br><br></DIV>
</DIV></TD>
    <TD align="left" valign="bottom"><DIV style="border: 1px solid #000000">&nbsp;<br><br><br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="bottom" style="font-size: 8pt"><B>P12103-01S</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom"><DIV style="border: 1px solid #000000">&nbsp;<br><br><br></DIV></TD>
    <TD align="left" valign="bottom"><DIV style="border: 1px solid #000000">&nbsp;<br><br><br></DIV></TD>
    <TD>&nbsp;</TD>

<TD nowrap rowspan="2" align="right" valign="top" style="font-size: 8pt"><B><FONT face="Symbol">&#042;&#042;&#042;</FONT><br>GS2 36244N109<br>1<br><FONT face="Symbol">&#042;&#042;&#042;&#042;&#042;</FONT>ACCOUNT</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px">Signature &#091;PLEASE SIGN WITHIN BOX&#093;
</DIV></TD>
    <TD align="left" valign="top">Date</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Signature (Joint Owners)</TD>
    <TD align="left" valign="top">Date</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>


</DIV>
<BR clear="all"><BR>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif">

<DIV align="center" style="font-size: 10pt; margin-top: 200pt"><B>Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting:</B><BR>
The Notice and Proxy Statement is available at www.proxyvote.com.
</DIV>


<DIV align="Center" style="font-size: 8pt; margin-top: 100pt"><FONT style="font-family: Webdings">&#054;</FONT> <B>PLEASE FOLD ALONG THE PERFORATION, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. </B><FONT style="font-family: Webdings">&#054;</FONT>
</DIV>

<DIV align="right" style="font-size: 7pt; margin-top: 0pt"><DIV style="width: 100%; border-bottom: 1px dashed #000000; FONT-size: 1px">&nbsp;</DIV>
M33647-P12103&nbsp;&nbsp;&nbsp;&nbsp;
</DIV>
<BR style="font-size: 3pt">
<DIV style="width: 100%; border: 2px solid black; padding: 24px;">

<DIV align="left" style="font-size: 10pt; margin-top: 50pt"><B>THE GABELLI GLOBAL GOLD, NATURAL RESOURCES &#038; INCOME TRUST</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><B>This proxy is solicited on behalf of the Board of Trustees</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><div align="justify">The undersigned hereby appoints Mario J. Gabelli, Agnes Mullady and Bruce N. Alpert, and each
of them, attorneys and proxies of the undersigned, with full powers of substitution and revocation,
to represent the undersigned and to vote on behalf of the undersigned all shares of The Gabelli
Global Gold, Natural Resources &#038; Income Trust (the
&#147;Fund&#148;) which the undersigned is entitled to vote
at the Annual Meeting of shareholders of the Fund to be held at The Cole Auditorium, The Greenwich
Library, 101 West Putnam Avenue, Greenwich, Connecticut 06830 on Monday, May&nbsp;16, 2011, at 12:00
p.m., and at any adjournments thereof. The undersigned hereby acknowledges receipt of the Notice of
Meeting and Proxy Statement and hereby instructs said attorneys and proxies to vote said shares as
indicated herein. In their discretion, the proxies are authorized to vote upon such other business
as may properly come before the Meeting.</div>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><div align="justify">A Majority of the proxies present and acting at the Meeting in person or by substitute (or, if only
one shall be so present, then that one, shall have and may exercise all of the power and authority
of said proxies hereunder. The undersigned hereby revokes any proxy previously given.</div>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><div align="justify">This proxy, if properly executed, will be voted in the manner directed by the undersigned
shareholder. If no direction is made, this proxy will be voted <B>FOR </B>the election of the nominees as
Trustees and in the discretion of the proxy holder as to any other matter that may properly come
before the Meeting. Please refer to the Proxy Statement for a discussion of Proposal No.&nbsp;1.</div>
</DIV>

<DIV align="center">
<TABLE style="font-size: 9pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="border: 1px solid #000000"><br style="font-size: 3pt"><B>PLEASE VOTE, SIGN AND DATE ON THE REVERSE SIDE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE.</B><br><br style="font-size: 3pt"></DIV></DIV></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="FONT-FAMILY: Helvetica,Arial,sans-serif">

<DIV style="position: relative; float: LEFT; width: 5%">
<DIV align="RIGHT" style="font-size: 10pt; margin-top: 590pt; margin-left: 0%"><IMG src="b84379a1b8437912.gif" alt="(LOGO)"></div></div>

<P><DIV style="position: relative; float: left; width: 93%">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 50%"><IMG src="b84379a1b8437908.gif" alt="(LOGO)"></div>
<DIV style="position: relative; float: left; width: 43%">
<DIV align="RIGHT">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="90%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 20pt">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="18%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>PROXY TABULATOR</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>P.O. BOX 9112</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B><I>FARMINGDALE, NY 11735</I></B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom" style="line-height: 50pt"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px"><B>BROADRIDGE<br>
FINANCIAL SOLUTIONS, INC.<br>
ATTENTION:<br>
TEST PRINT<br>
51 MERCEDES WAY<br>
EDGEWOOD, NY<br>
11717</B></div></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<IMG src="b84379a1b8437910.gif" alt="(LOGO)"><br><br>
<IMG src="b84379a1b8437903.gif" alt="(LOGO)"></TD>
</TR>
<!-- End Table Body -->
</TABLE></div></div>
<DIV style="position: relative; float: left; margin-left: 2%; width: 44%">
<DIV align="center">
<TABLE style="font-size: 8pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom" style="font-size: 20pt">
    <TD width="90%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" ><DIV style="margin-left:0px; text-indent:-0px"><B>To vote by Internet</B><br><br>
<DIV style="margin-left:21px; text-indent:-21px">1)&nbsp;&nbsp;&nbsp;&nbsp;Read the Proxy Statement and have the proxy card below at hand.</DIV>
<DIV style="margin-left:21px; text-indent:-21px">2)&nbsp;&nbsp;&nbsp;&nbsp;Go to website <B>www.proxyvote.com</B></DIV>
<DIV style="margin-left:21px; text-indent:-21px">3)&nbsp;&nbsp;&nbsp;&nbsp;Follow the instructions provided on the website.</DIV><br>
<B>To vote by Telephone</B><br><br>
<DIV style="margin-left:21px; text-indent:-21px">1)&nbsp;&nbsp;&nbsp;&nbsp;Read the Proxy Statement and have the proxy card below at hand.</DIV>
<DIV style="margin-left:21px; text-indent:-21px">2)&nbsp;&nbsp;&nbsp;&nbsp;Call <B>1-800-690-6903</B></DIV>
<DIV style="margin-left:21px; text-indent:-21px">3)&nbsp;&nbsp;&nbsp;&nbsp;Follow the instructions.</DIV><br>
<B>To vote by Mail</B><br><br>
<DIV style="margin-left:21px; text-indent:-21px">1)&nbsp;&nbsp;&nbsp;&nbsp;Read the Proxy Statement.</DIV>
<DIV style="margin-left:21px; text-indent:-21px">2)&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate boxes on the proxy card below.</DIV>
<DIV style="margin-left:21px; text-indent:-21px">3)&nbsp;&nbsp;&nbsp;&nbsp;Sign and date the proxy card.</DIV>
<DIV style="margin-left:21px; text-indent:-21px">4)&nbsp;&nbsp;&nbsp;&nbsp;Return the proxy card in the envelope provided.</DIV></DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE></div>

<DIV align="right" style="font-size: 10pt; margin-top: 50pt"><IMG src="b84379a1b8437911.gif" alt="(LOGO)"></div></div>
<DIV style="position: relative; float: right; width: 8%">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><IMG src="b84379a1b8437909.gif" alt="(LOGO)"></div> </div>
<BR clear="all"><BR>

<DIV style="MARGIN-TOP: 12pt" align=center>
<TABLE style="FONT-SIZE: 6pt" cellSpacing=0 cellPadding=0 width="100%" border=0><!-- Begin Table Head -->

  <TR vAlign=bottom>
    <TD width="45%">TO VOTE, MARK BLOCKS BELOW
      IN BLUE OR BLACK INK AS FOLLOWS:
      &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT style="font-family: Wingdings">&#120;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD></TR><!-- End Table Head --><!-- Begin Table Body -->
</TABLE>
</DIV>


<DIV align="center">
<TABLE style="font-size: 6pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="16%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="25%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">M33648-P12103&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>KEEP THIS PORTION FOR YOUR RECORDS</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="5" valign="top" align="left" style="border-top: 1px dashed #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 3pt"><TD colspan="5">&nbsp;</TD></TR>
<TR valign="bottom">
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="font-size: 8pt" nowrap><B>THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>DETACH AND RETURN THIS PORTION ONLY</TD>
</TR>
<!-- End Table Body -->
</TABLE></DIV>


<DIV align="CENTER" style="font-size: 1pt; margin-top: 1pt">&nbsp;</div>
<DIV style="BORDER-RIGHT: black 2px solid; PADDING-RIGHT: 4px; BORDER-TOP: black 2px solid; PADDING-LEFT: 4px; PADDING-BOTTOM: -2px; BORDER-LEFT: black 2px solid; WIDTH: 100%; PADDING-TOP: 4px; BORDER-BOTTOM: black 2px solid">

<DIV align=center>
<TABLE style="FONT-SIZE: 7pt" cellSpacing=0 cellPadding=0 width="98%" border=0><!-- Begin Table Head -->

    <TR style="FONT-SIZE: 5pt" vAlign=bottom>
    <TD width="7%" rowspan="4" valign="top" NOWRAP><IMG src="b84379a1b8437905.gif" alt="(LOGO)">&nbsp;&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD></TR>
<!-- End Table Head --><!-- Begin Table Body -->
  <TR vAlign=bottom>

<TD vAlign=top align=left colSpan=3><div align="justify"><font style="font-size: 6pt"><B>THE GABELLI GLOBAL GOLD, NATURAL RESOURCES &#038; INCOME TRUST SERIES A PREFERRED SHAREHOLDER</B></font></div></TD>
    <TD>&nbsp;</TD>

    <TD colspan="7" valign="middle"><font style="font-size: 10pt"><b>02&nbsp;&nbsp; 000000000220</b></font></TD>
    <TD style="BORDER-RIGHT: black 2pt solid; BORDER-TOP: black 2pt solid" vAlign=top align=right>&nbsp;</TD>
</TR>
  <TR style="FONT-SIZE: 7pt">

    <TD vAlign=top align=left colSpan=3>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD vAlign=top align=left>&nbsp;</TD>
    <TD style="BORDER-RIGHT: black 2pt solid; BORDER-TOP: black 0pt solid" vAlign=top align=right>&nbsp;</TD></TR>
  <TR vAlign=bottom style="font-size: 8pt">
    <TD valign="top"><FONT style="BACKGROUND: #000000; WIDTH: 2%"><font style="font-size: 11pt"><FONT color=#ffffff>&nbsp;<B>A</B>&nbsp;</FONT></FONT></FONT>&nbsp;</TD>
    <TD vAlign=top align=left colSpan=2><div align="justify">
<FONT style="font-size: 7pt"><b>Election of Trustees&#151;The Board of Trustees recommends a vote <U>FOR</U> each of the
nominees listed.</b></FONT></div></TD>
    <TD>&nbsp;</TD>
<TD vAlign=top align=center><B>For<BR>All</B> </TD>
    <TD>&nbsp;</TD>
    <TD vAlign=top align=center><B>Withhold<BR>All</B> </TD>
    <TD>&nbsp;</TD>
    <TD vAlign=top noWrap align=center><B>For All<BR>Except</B> </TD>
    <TD>&nbsp;</TD>
    <TD valign=top align=left rowSpan=2><DIV align=justify>
<FONT style="font-size: 6pt">
To withhold authority to vote for any individual nominee(s), mark &#147;For All Except&#148; and write the
name(s) of the nominee(s) on the line below.</FONT></div></TD>
    <TD style="BORDER-RIGHT: black 0pt solid; BORDER-TOP: black 0pt solid" vAlign=top align=right>&nbsp;</TD>

</TR>

  <TR style="FONT-SIZE: 5pt" vAlign=bottom><!-- Blank Space -->
    <TD>&nbsp;</TD>
    <TD vAlign=top align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD vAlign=top align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD vAlign=top align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD style="BORDER-RIGHT: black 0pt solid; BORDER-TOP: black 0pt solid"      vAlign=top align=right>&nbsp;</TD></TR>

  <TR vAlign=top>
    <TD>&nbsp;</TD>
    <TD vAlign=top noWrap align=left>1. </TD>

    <TD vAlign=top align=left colspan="2">To elect three (3) Trustees of the Fund:</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD vAlign=top noWrap align=center><B>&nbsp; </B></TD>
    <TD>&nbsp;</TD>
    <TD vAlign=top align=left>&nbsp;</TD>
    <TD vAlign=middle align=left colSpan=2>
      <DIV style="FONT-SIZE: 1pt; BORDER-BOTTOM: #000000 0px solid">&nbsp;</DIV></TD></TR>

  <TR style="FONT-SIZE: 2pt" vAlign=bottom><!-- Blank Space -->

    <TD>&nbsp;</TD>
    <TD vAlign=top noWrap align=left>&nbsp; </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
<TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD vAlign=top noWrap align=center><B>&nbsp; </B></TD>
    <TD>&nbsp;</TD>
    <TD vAlign=top align=left>&nbsp;</TD>
    <TD vAlign=middle align=left colSpan=2>
      <DIV style="FONT-SIZE: 1pt; BORDER-BOTTOM: #000000 0px solid">&nbsp;</DIV></TD></TR>

  <TR vAlign=top>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD vAlign=middle align=left colspan="2" rowspan="2"><b>Nominees:</b></TD>
    <TD vAlign=top noWrap align=left>&nbsp; </TD>

    <TD vAlign=middle align=center rowspan="2"><font style="FONT-SIZE: 11pt"><FONT face=wingdings>o</FONT></FONT></TD>
    <TD>&nbsp;</TD>
    <TD vAlign=middle align=center rowspan="2"><font style="FONT-SIZE: 11pt"><FONT face=wingdings>o</FONT></FONT></TD>

    <TD vAlign=top noWrap align=center><B>&nbsp; </B></TD>
    <TD vAlign=middle align=center rowspan="2"><font style="FONT-SIZE: 11pt"><FONT face=wingdings>o</FONT></FONT></TD>

    <TD vAlign=top align=left>&nbsp;</TD>
    <TD vAlign=middle align=left colSpan=2>
      <DIV style="FONT-SIZE: 1pt; BORDER-BOTTOM: #000000 0px solid">&nbsp;</DIV></TD></TR>

  <TR style="FONT-SIZE: 2pt" vAlign=bottom><!-- Blank Space -->

    <TD vAlign=top align=left>&nbsp;</TD>

    <TD vAlign=top align=left>&nbsp;</TD>

    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

    <TD vAlign=bottom align=left colSpan=2>
      <DIV style="FONT-SIZE: 1pt; BORDER-BOTTOM: #000000 1px solid">&nbsp;</DIV></TD>

</TR>

 <TR style="FONT-SIZE: 3pt" vAlign=bottom><!-- Blank Space -->
    <TD>&nbsp;</TD>
    <TD vAlign=top align=left>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD vAlign=top align=left>&nbsp;</TD>

    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD vAlign=bottom align=left>
      <DIV style="FONT-SIZE: 1pt; BORDER-BOTTOM: #000000 0px solid">&nbsp;</DIV></TD></TR>

 <TR style="FONT-SIZE: 7pt" vAlign=bottom><!-- Blank Space -->
    <TD>&nbsp;</TD>
    <TD vAlign=top align=left>&nbsp;</TD>

    <TD vAlign=top align=left colspan="2">01)&nbsp;&nbsp;&nbsp;Anthony J. Colavita<br>
02)&nbsp;&nbsp;&nbsp;Frank J. Fahrenkopf, Jr.
<br>03)&nbsp;&nbsp;&nbsp;Salvatore J. Zizza
</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD vAlign=bottom align=left>
      <DIV style="FONT-SIZE: 1pt; BORDER-BOTTOM: #000000 0px solid">&nbsp;</DIV></TD></TR>

 <TR style="FONT-SIZE: 50pt" vAlign=bottom><!-- Blank Space -->
    <TD>&nbsp;</TD>
    <TD vAlign=top align=left>&nbsp;</TD>

    <TD vAlign=top align=left colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD vAlign=bottom align=left><DIV style="FONT-SIZE: 1pt; BORDER-BOTTOM: #000000 0px solid">&nbsp;</DIV></TD></TR>

 <TR style="FONT-SIZE: 57pt" vAlign=bottom><!-- Blank Space -->
    <TD>&nbsp;</TD>
    <TD vAlign=top align=left>&nbsp;</TD>

    <TD vAlign=top align=left colspan="2">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD vAlign=bottom align=left><DIV style="FONT-SIZE: 1pt; BORDER-BOTTOM: #000000 0px solid">&nbsp;</DIV></TD></TR>

 <TR style="FONT-SIZE: 7pt" vAlign=bottom><!-- Blank Space -->
    <TD>&nbsp;</TD>
    <TD vAlign=top align=left><FONT style="BACKGROUND: #000000; WIDTH: 2%"><font style="font-size: 11pt"><FONT color=#ffffff>&nbsp;<B>B</B>&nbsp;</FONT></FONT></FONT></TD>

    <TD vAlign=middle align=left colspan="10"><b>Authorized Signatures&#151;This section must be completed for <B>your </B>vote to be
counted.&#151;Sign and Date Below</b></TD>

</TR>

 <TR style="FONT-SIZE: 7pt" vAlign=bottom><!-- Blank Space -->
    <TD>&nbsp;</TD>
    <TD vAlign=top align=left>&nbsp;</TD>

    <TD vAlign=top align=left colspan="2">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD vAlign=bottom align=left><DIV style="FONT-SIZE: 1pt; BORDER-BOTTOM: #000000 0px solid">&nbsp;</DIV></TD></TR>

<tr style="FONT-SIZE: 7pt" vAlign=bottom><!-- Blank Space -->
    <TD>&nbsp;</TD>

    <TD vAlign=middle align=left colspan="11">
Please sign this proxy exactly as your name(s) appear(s) in the records of the
Fund. If joint owners, either may sign. Trustees and other fiduciaries should
indicate the capacity in which they sign, and where more than one name appears,
a majority must sign. If a corporation, this signature should be that of an
authorized officer who should state his or her title.</TD>

</TR>

<!-- End Table Body --></TABLE></DIV>

<DIV align="center">
<TABLE style="font-size: 6pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="20%">&nbsp;</TD>

    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="bottom"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="border: 1px solid #000000">&nbsp;<br><br><br></DIV></div></TD>
    <TD align="left" valign="bottom"><DIV style="border: 1px solid #000000">&nbsp;<br><br><br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" valign="bottom" style="font-size: 8pt"><B>P12103-01S</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom"><DIV style="border: 1px solid #000000">&nbsp;<br><br><br></DIV></TD>
    <TD align="left" valign="bottom"><DIV style="border: 1px solid #000000">&nbsp;<br><br><br></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap rowspan="2" align="right" valign="top" style="font-size: 8pt"><B><FONT face="Symbol">&#042;&#042;&#042;</FONT><br>GS2
36244N208<br>2<br><FONT face="Symbol">&#042;&#042;&#042;&#042;&#042;</FONT>ACCOUNT</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px">Signature &#091;PLEASE SIGN WITHIN BOX&#093;</DIV></TD>
    <TD align="left" valign="top">Date</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>Signature (Joint Owners)</TD>
    <TD align="left" valign="top">Date</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE></div></div></div>
<BR clear="all"><BR>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio --></div>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>


<DIV style="FONT-FAMILY: Helvetica,Arial,sans-serif">



<DIV align="center" style="font-size: 9pt; margin-top: 200pt"><B>Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting: </B><br>The
Notice and Proxy Statement is available at www.proxyvote.com.
</DIV>


<DIV align="center" style="font-size: 8pt; margin-top: 100pt">&#9660;&nbsp;&nbsp;<B>PLEASE FOLD ALONG THE PERFORATION, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE.</B>&nbsp;&#9660;</DIV>
<DIV style="MARGIN-TOP: 0pt; FONT-SIZE: 1pt" align=center>
<DIV style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px dashed"></DIV></DIV>


<DIV align="right" style="font-size: 7pt; margin-top: 1pt">M33649-P12103&nbsp;&nbsp;&nbsp;&nbsp;</div>

<DIV align="right" style="font-size: 3pt; margin-top: 1pt">&nbsp;</div>


<DIV style="BORDER-RIGHT: black 2px solid; PADDING-RIGHT: 11px; BORDER-TOP: black 2px solid; PADDING-LEFT: 11px; PADDING-BOTTOM: 0px; BORDER-LEFT: black 2px solid; WIDTH: 100%; PADDING-TOP: 1px; BORDER-BOTTOM: black 2px solid">


<DIV align="left" style="font-size: 10pt; margin-top: 40pt; margin-right: 2%; margin-left: 2%"><B>THE GABELLI GLOBAL GOLD, NATURAL RESOURCES &#038; INCOME TRUST</b></div>
<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-right: 4%; margin-left: 2%"><B>This proxy is solicited on behalf of the Board of Trustees</b></div>



<DIV align="justify" style="font-size: 10pt; margin-top: 12pt; margin-right: 2%; margin-left: 2%">
The undersigned hereby appoints Mario J. Gabelli, Agnes Mullady and Bruce N. Alpert, and each of
them, attorneys and proxies of the undersigned, with full powers of substitution and revocation,
to represent the undersigned and to vote on behalf of the undersigned all shares of The Gabelli
Global Gold, Natural Resources &#038; Income Trust (the &#147;Fund&#148;) which the undersigned is entitled to
vote at the Annual Meeting of Shareholders of the Fund to be held at The Cole Auditorium, The
Greenwich Library, 101 West Putnam Avenue, Greenwich, Connecticut 06830 on Monday, May&nbsp;16, 2011, at
12:00&nbsp;p.m., and at any adjournments thereof. The undersigned hereby acknowledges receipt of the
Notice of Meeting and Proxy Statement and hereby instructs said attorneys and proxies to vote said
shares as indicated herein. In their discretion, the proxies are authorized to vote upon such
other business as may properly come before the Meeting.
</DIV>



<DIV align="justify" style="font-size: 10pt; margin-top: 12pt; margin-right: 2%; margin-left: 2%">

A majority of the proxies present and acting at the Meeting in person or by substitute (or, if
only one shall be so present, then that one) shall have and may exercise all of the power and
authority of said proxies hereunder. The undersigned hereby revokes any proxy previously given.
</DIV>



<DIV align="justify" style="font-size: 10pt; margin-top: 12pt; margin-right: 2%; margin-left: 2%">
This proxy, if properly executed, will be voted in the manner directed by the undersigned
shareholder. If no direction is made, this proxy will be voted <B>FOR</B> the election of the nominees as
Trustees and in the discretion of the proxy holder as to any other matter that may properly come
before the Meeting. Please refer to the Proxy Statement for a discussion of Proposal No.&nbsp;1.
</div>


<DIV align="center">
<TABLE style="font-size: 9pt" cellspacing="0" border="0" cellpadding="0" width="96%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" align="center"><DIV style="margin-left:0px; text-indent:-0px"><DIV style="border: 1px solid #000000"><br style="font-size: 3pt"><B>PLEASE VOTE, SIGN AND DATE ON THE REVERSE SIDE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE.</B><br><br style="font-size: 3pt"></DIV></DIV></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>




<DIV align="right" style="font-size: 1pt; margin-top: 14pt">&nbsp;
</DIV>

</div>
<P style="FONT-SIZE: 10pt" align=center><!-- Folio -->&nbsp;<!-- /Folio -->
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