<SEC-DOCUMENT>0001133228-17-001879.txt : 20170403
<SEC-HEADER>0001133228-17-001879.hdr.sgml : 20170403
<ACCEPTANCE-DATETIME>20170403163937
ACCESSION NUMBER:		0001133228-17-001879
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170515
FILED AS OF DATE:		20170403
DATE AS OF CHANGE:		20170403
EFFECTIVENESS DATE:		20170403

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GAMCO 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:		17734759

	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:	GAMCO Global Gold, Natural Resources & Income Trust by Gabelli
		DATE OF NAME CHANGE:	20111222

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Gabelli Global Gold, Natural Resources & Income Trust
		DATE OF NAME CHANGE:	20050112

	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>e463118_def14a.htm
<DESCRIPTION>DEF 14A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE 14A INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Proxy Statement Pursuant to Section 14(a)
of the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Amendment No. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Filed by Registrant <FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Filed by a Party other than the Registrant <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Preliminary Proxy Statement</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Confidential, for Use of the Commission Only (as permitted
by Rule 14a-6(e)(2))</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD><TD STYLE="text-align: justify">Definitive Proxy Statement</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Definitive Additional Materials</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting Material Pursuant to Sec. 240.14a-12</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>GAMCO Global Gold, Natural Resources
&amp; Income Trust</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Name of Registrant as Specified In Its
Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Name of Person(s) Filing Proxy Statement,
if other than the Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment of Filing Fee (Check the appropriate box):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD><TD STYLE="text-align: justify">No fee required</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Fee computed on table below per Exchange Act Rules 14a-6(i)(1)
and 0-11.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">1)</TD><TD STYLE="text-align: justify">Title of each class of securities to which transaction
applies:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">2)</TD><TD STYLE="text-align: justify">Aggregate number of securities to which transaction
applies:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">3)</TD><TD STYLE="text-align: justify">Per unit price or other underlying value of transaction
computed pursuant to Exchange Act Rule 0-11(set forth the amount on which the filing fee is calculated and state how it was determined):</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">4)</TD><TD STYLE="text-align: justify">Proposed maximum aggregate value of transaction:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">5)</TD><TD STYLE="text-align: justify">Total fee paid:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Fee paid previously with preliminary materials.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 27pt; text-indent: -27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Check box if any part of the fee is offset as provided
by Exchange Act Rule 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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">1)</TD><TD STYLE="text-align: justify">Amount Previously Paid:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">2)</TD><TD STYLE="text-align: justify">Form, Schedule or Registration Statement No.:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">3)</TD><TD STYLE="text-align: justify">Filing Party:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-indent: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">4)</TD><TD STYLE="text-align: justify">Date Filed:</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: left; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GAMCO GLOBAL GOLD, NATURAL RESOURCES
&amp; INCOME TRUST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">One Corporate Center</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Rye, New York 10580-1422</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(914) 921-5070</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTICE OF ANNUAL MEETING OF SHAREHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>To Be Held on May 15, 2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To the Shareholders of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">GAMCO GLOBAL GOLD, NATURAL RESOURCES &amp;
INCOME TRUST</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Notice is hereby
given that the Annual Meeting of Shareholders of GAMCO Global Gold, Natural Resources &amp; Income Trust, a Delaware statutory
trust (the &ldquo;Fund&rdquo;), will be held on Monday, May 15, 2017, at 1:30 p.m., local time, at The Cole Auditorium, The Greenwich
Library, 101 West Putnam Avenue, Greenwich, Connecticut 06830 (the &ldquo;Meeting&rdquo;), and at any adjournments or postponements
thereof for the following purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">To elect three (3) Trustees of
                                         the Fund, two (2) Trustees to be elected by the holders of the Fund&rsquo;s common shares
                                         and holders of its 5.00% Series B Cumulative Preferred Shares (&ldquo;Preferred Shares&rdquo;),
                                         voting together as a single class, and one (1) Trustee to be elected by the holders of
                                         the Fund&rsquo;s Preferred Shares, voting as a separate class; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">To consider and vote upon such
                                         other matters, including adjournments, as may properly come before said Meeting or any
                                         adjournments thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">These items are discussed
in greater detail in the attached Proxy Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The close of business
on March 23, 2017, 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 or postponements thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><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. SHAREHOLDERS MAY AUTHORIZE THEIR PROXY BY TELEPHONE OR THE INTERNET. ALTERNATIVELY, SHAREHOLDERS MAY SUBMIT VOTING INSTRUCTIONS
BY SIGNING AND DATING THE PROXY CARD AND RETURNING IT IN THE ACCOMPANYING POSTAGE-PAID ENVELOPE.</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 50%; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By Order
    of the Board of Trustees,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">ANDREA R. MANGO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>Secretary</I></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">April 5, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INSTRUCTIONS FOR SIGNING PROXY CARDS
TO BE RETURNED BY MAIL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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 properly sign your proxy card.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify"><I>Individual Accounts: </I>Sign
                                         your name exactly as it appears in the registration on the proxy card.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify"><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></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify"><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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="margin-left: 0.5in; width: 95%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" NOWRAP STYLE="text-decoration: underline; text-align: justify"><B><U>Registration</U></B></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: justify"><B><U>Valid Signature</U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" NOWRAP STYLE="text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" NOWRAP STYLE="text-align: justify"><B>Corporate Accounts</B></TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 3%; text-align: justify">(1)</TD>
    <TD NOWRAP STYLE="width: 54%; text-align: justify">ABC Corp.</TD>
    <TD NOWRAP STYLE="width: 43%; text-align: justify">ABC Corp., John Doe, Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">(2)</TD>
    <TD NOWRAP STYLE="text-align: justify">ABC Corp.</TD>
    <TD NOWRAP STYLE="text-align: justify">John Doe, Treasurer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">(3)</TD>
    <TD NOWRAP STYLE="text-align: justify">ABC Corp.</TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"></TD>
    <TD NOWRAP STYLE="text-align: justify">c/o John Doe, Treasurer</TD>
    <TD NOWRAP STYLE="text-align: justify">John Doe</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">(4)</TD>
    <TD NOWRAP STYLE="text-align: justify">ABC Corp., Profit Sharing Plan</TD>
    <TD NOWRAP STYLE="text-align: justify">John Doe, Trustee</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" NOWRAP STYLE="text-align: justify"><B>Trust Accounts</B></TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">(1)</TD>
    <TD NOWRAP STYLE="text-align: justify">ABC Trust</TD>
    <TD NOWRAP STYLE="text-align: justify">Jane B. Doe, Trustee</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">(2)</TD>
    <TD NOWRAP STYLE="text-align: justify">Jane B. Doe, Trustee</TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: justify">u/t/d 12/28/78</TD>
    <TD NOWRAP STYLE="text-align: justify">Jane B. Doe</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" NOWRAP STYLE="text-align: justify"><B>Custodian or Estate Accounts</B></TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">(1)</TD>
    <TD NOWRAP STYLE="text-align: justify">John B. Smith, Cust.</TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: justify">f/b/o John B. Smith, Jr. UGMA</TD>
    <TD NOWRAP STYLE="text-align: justify">John B. Smith</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">(2)</TD>
    <TD NOWRAP STYLE="text-align: justify">John B. Smith, Executor</TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: justify">Estate of Jane Smith</TD>
    <TD NOWRAP STYLE="text-align: justify">John B. Smith, Executor</TD></TR>
</TABLE><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INSTRUCTIONS FOR TELEPHONE/INTERNET
VOTING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Instructions for
authorizing your proxy to vote your shares by telephone or Internet are included with the Notice of Internet Availability of Proxy
Materials and the proxy card.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GAMCO GLOBAL GOLD, NATURAL RESOURCES
&amp; INCOME TRUST</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNUAL MEETING OF SHAREHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>May 15, 2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROXY STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">This Proxy Statement
is furnished in connection with the solicitation of proxies by the Board of Trustees (the &ldquo;Board,&rdquo; the members of
which are referred to as &ldquo;Trustees&rdquo;) of GAMCO Global Gold, Natural Resources &amp; Income Trust, a Delaware statutory
trust (the &ldquo;Fund&rdquo;), for use at the Annual Meeting of Shareholders of the Fund to be held on Monday, May 15, 2017,
at 1:30 p.m., local time, at The Cole Auditorium, The Greenwich Library, 101 West Putnam Avenue, Greenwich, Connecticut 06830
(the &ldquo;Meeting&rdquo;), and at any adjournments or postponements thereof. A Notice of Internet Availability of Proxy Materials
will first be mailed to shareholders on or about April 5, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In addition to the
solicitation of proxies by mail, officers of the Fund and officers and regular employees of American Stock Transfer &amp; Trust
Company (&ldquo;AST&rdquo;), the Fund&rsquo;s transfer agent, and affiliates of AST or other representatives of the Fund may also
solicit proxies by telephone, Internet, or in person. In addition, the Fund has retained Morrow Sodali 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 Notice of Internet Availability of Proxy Materials
and/or Proxy Statement and its enclosures. If requested, the Fund will also reimburse brokerage firms and others for their expenses
in forwarding solicitation materials to the beneficial owners of its shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>The Fund&rsquo;s
most recent annual report, including audited financial statements for the fiscal year ended December 31, 2016, is available upon
request, without charge, by writing to the Secretary of the Fund, One Corporate Center, Rye, New York 10580-1422, calling the
Fund at 800-422-3554, or via the Internet at www.gabelli.com.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">If the proxy is properly
executed and returned in time to be voted at the Meeting, the shares represented thereby will be voted &ldquo;FOR&rdquo; 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">A &ldquo;quorum&rdquo;
is required in order to transact business at the Meeting. 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 chairperson 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 &ldquo;FOR&rdquo;
any proposal in favor of such adjournment and will vote those proxies required to be voted &ldquo;AGAINST&rdquo; 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. The Fund may postpone or cancel a meeting
of shareholders, and if it does the Fund will make a public announcement of such postponement or cancellation prior to the meeting.
The postponed meeting may not be held more than 130 days after the initial record date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The close of business
on March 23, 2017, 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 or postponements thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Fund has two
classes of shares of beneficial interest outstanding: common shares, par value $0.001 per share (&ldquo;Common Shares&rdquo;),
and 5.00% Series B Cumulative Preferred Shares, par value $0.001 per share (&ldquo;Preferred Shares&rdquo;). 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 134,463,499
Common Shares and 3,537,778 Preferred Shares, outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Set forth below is
information as to those shareholders to the Fund&rsquo;s knowledge that beneficially own 5% or more of a class of the Fund&rsquo;s
outstanding voting securities as of the record date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 40%; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Name
    and Address of</B></FONT></TD>
    <TD NOWRAP STYLE="width: 20%; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 20%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Amount
    of Shares and</B></FONT></TD>
    <TD NOWRAP STYLE="width: 20%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-decoration: underline; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Beneficial
    Owner</U></B></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Title
    of Class</U></B></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Nature
    of Ownership</U></B></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Percent
    of Class</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">Americo Financial
        Life &amp; Annuity College Life Insurance Company of America</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">Kansas City,
        MO 64141&ndash;0288</P></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Series B Preferred</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">239,500 (beneficial)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">6.77%</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">Financial &amp;
        Investment Management Group Ltd.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">111 Cass Street</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">Traverse City,
        Michigan 49684</P></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Series B Preferred</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">182,284</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.15%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">As of the record date, there were no persons
known to the Fund to be beneficial owners of more than 5% of the Fund&rsquo;s outstanding shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SUMMARY OF VOTING RIGHTS ON PROXY PROPOSALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 16%; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Proposal</U></B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 40%; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Common
    Shareholders</U></B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 40%; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Preferred
    Shareholders</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Election of Trustees</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Common and Preferred Shareholders, voting together as a single class, vote to elect two Trustees:</FONT></P>
                                    <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"> Frank J. Fahrenkopf, Jr. and <BR>
Salvatore J. Zizza</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Common and Preferred Shareholders,
        voting together as a single class, vote to elect two Trustees:</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Frank J. Fahrenkopf, Jr. and <BR>
Salvatore
        J. Zizza</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Preferred Shareholders, voting
        as a separate class, vote to elect one Trustee: Anthony J. Colavita</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Other Business</FONT></TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Common
    and Preferred Shareholders, voting together as a single class</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red"><BR></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL: TO ELECT THREE (3) TRUSTEES
OF THE FUND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Nominees for the Board of Trustees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Board consists
of eight Trustees, all of whom are not &ldquo;interested persons&rdquo; of the Fund (as defined in the Investment Company Act
of 1940, as amended (the &ldquo;1940 Act&rdquo;)). 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&rsquo;s 2020
Annual Meeting of Shareholders or until their successors are duly elected and qualified. Each of the Trustees of the Fund has
served in that capacity since the February 14, 2005 organizational meeting of the Fund with the exception of Mr. Salibello, who
became a Trustee of the Fund on November 16, 2005. All of the Trustees of the Fund are also directors or trustees of other investment
companies for which Gabelli Funds, LLC (the &ldquo;Adviser&rdquo;) or its affiliates serve as investment adviser. The classes
of Trustees are indicated below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Nominees to Serve Until 2020 Annual
Meeting of Shareholders</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Anthony J. Colavita</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Frank J. Fahrenkopf, Jr.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Salvatore J. Zizza</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Trustees Serving Until 2019 Annual
Meeting of Shareholders</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Vincent D. Enright</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Michael J. Melarkey</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Trustees Serving Until 2018 Annual
Meeting of Shareholders</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">James P. Conn</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Salvatore M. Salibello</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Anthonie C. van Ekris</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Under the Fund&rsquo;s
Declaration of Trust, Statement of Preferences, and the 1940 Act, holders of the Fund&rsquo;s outstanding Preferred Shares, voting
as a separate class, are entitled to elect two Trustees, and holders of the Fund&rsquo;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&rsquo;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&rsquo;s Preferred Shares become in arrears for two full years and until all arrearages
are eliminated. No dividend arrearages exist as of the date of this Proxy Statement. Messrs. Colavita and Conn are currently the
Trustees elected solely by the holders of the Fund&rsquo;s Preferred Shares. Mr. Conn&rsquo;s term as a Trustee is scheduled to
expire at the Fund&rsquo;s 2018 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Unless instructions
are provided to the contrary, it is the intention of the persons named in the proxy to vote the proxy &ldquo;FOR&rdquo; 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, however, a designated nominee declines or otherwise becomes unavailable for election, 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&rsquo;s governing documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Information about Trustees and Officers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Set forth in the
table below are the existing Trustees, including those Trustees who are not considered to be &ldquo;interested persons,&rdquo;
as defined in the 1940 Act (the &ldquo;Independent Trustees&rdquo;), three of whom are nominated for re-election 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 20%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 13%; text-align: center"><B>Term of</B></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 25%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 25%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 13%; text-align: center"><B>Number of</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><B>Office and</B></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><B>Portfolios to</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: center"><B>Name, Position(s),</B></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><B>Length of</B></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><B>Other Directorships</B></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><B>Fund Complex<SUP>(3)</SUP></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: center"><B>Address<SUP>(1)</SUP></B></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><B>Time</B></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><B>Principal Occupation(s)</B></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><B>Held by Trustee</B></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><B>Overseen</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><B><U>and Age</U></B></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><B><U>Served<SUP>(2)</SUP></U></B></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><B><U>During Past Five Years</U></B></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><B><U>During Past Five Years</U></B></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><B><U>by Trustee</U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9"><B><U>INDEPENDENT TRUSTEES/NOMINEES<SUP>(4)</SUP></U>:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="9">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Anthony J. Colavita<SUP>(5)(6)</SUP></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Trustee</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 81</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><BR>
    Since 2005*</TD>
    <TD>&nbsp;</TD>
    <TD>President of the law firm of Anthony J. Colavita, P.C.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&ndash;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">35 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>James P. Conn<SUP>(6)</SUP></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; font-weight: normal; font-style: normal">Trustee</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 79</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><BR>
    Since 2005***</TD>
    <TD>&nbsp;</TD>
    <TD>Former Managing Director and Chief Investment Officer of Financial Security Assurance Holdings, Ltd. (1992-1998)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&ndash;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">27 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Vincent D. Enright</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; font-weight: normal; font-style: normal">Trustee</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 73</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                          <P STYLE="margin-top: 0; margin-bottom: 0">Since 2005**</P></TD>
    <TD>&nbsp;</TD>
    <TD>Former Senior Vice President and Chief Financial Officer of KeySpan Corp. (public utility) (1994-1998)</TD>
    <TD>&nbsp;</TD>
    <TD>Director of Echo Therapeutics, Inc. (therapeutics and diagnostics) (2008-2014); Director of The LGL Group, Inc. (diversified
    manufacturing) (2011-2014)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">17 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Frank J. Fahrenkopf, Jr.<SUP>(5)</SUP></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; font-weight: normal; font-style: normal">Trustee</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 77</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                          <P STYLE="margin-top: 0; margin-bottom: 0">Since 2005*</P></TD>
    <TD>&nbsp;</TD>
    <TD>Co-Chairman of the Commission on Presidential Debates; Former President and Chief Executive Officer of the American Gaming
    Association (1995-2013); Former Chairman of the Republican National Committee (1983-1989)</TD>
    <TD>&nbsp;</TD>
    <TD>Director of First Republic Bank (banking)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">12 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Michael J. Melarkey</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; font-weight: normal; font-style: normal">Trustee</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 67</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                          <P STYLE="margin-top: 0; margin-bottom: 0">Since 2005**</P></TD>
    <TD>&nbsp;</TD>
    <TD>Owner in Pioneer Crossing Casino Group; Of Counsel in the law firm of McDonald Carano Wilson LLP; previously partner in
    the law firm of Avansino, Melarkey, Knobel, Mulligan &amp; McKenzie (1980-2015)</TD>
    <TD>&nbsp;</TD>
    <TD>Director of Southwest Gas Corporation (natural gas utility)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">16 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Salvatore M. Salibello</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; font-weight: normal; font-style: normal">Trustee</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 71</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                          <P STYLE="margin-top: 0; margin-bottom: 0">Since 2005***</P></TD>
    <TD>&nbsp;</TD>
    <TD>Senior Partner of Bright Side Consulting (consulting); Certified Public Accountant and Managing Partner of the certified
    public accounting firm of Salibello &amp; Broder LLP (1978-2012); Partner of BDO Seidman, LLP (2012-2013)</TD>
    <TD>&nbsp;</TD>
    <TD>Director of Kids Brands, Inc. (consumer products) (2002-2014)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">6 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Anthonie C. van Ekris<SUP>(5)</SUP></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt; font-weight: normal; font-style: normal">Trustee</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 82</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                          <P STYLE="margin-top: 0; margin-bottom: 0">Since 2005***</P></TD>
    <TD>&nbsp;</TD>
    <TD>Chairman and Chief Executive Officer of BALMAC International, Inc. (global import/export company)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&ndash;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">22 &nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Salvatore J. Zizza<SUP>(5)(8)</SUP></B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-weight: normal; font-style: normal">Trustee</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 71</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                                          <P STYLE="margin-top: 0; margin-bottom: 0">Since 2005*</P></TD>
    <TD>&nbsp;</TD>
    <TD>President of Zizza &amp; Associates Corp. (private holding company); Chairman of Harbor Diversified, Inc. (pharmaceuticals);
    Chairman of BAM (semiconductor and aerospace manufacturing); Chairman of Bergen Cove Realty Inc.; Chairman of Metropolitan
    Paper Recycling Inc. (recycling) (2005-2014)</TD>
    <TD>&nbsp;</TD>
    <TD>Director and Vice Chairman of Trans-Lux Corporation (business services); Director and Chairman of Harbor Diversified Inc.
    (pharmaceuticals); Director, Chairman, and CEO of General Employment Enterprises (staffing services) (2009-2012)</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">30 &nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>OFFICERS:</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 13%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Term
    of</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 65%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Office
    and</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Name, Position(s),</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Length
    of</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Address<SUP>(1)</SUP></B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Time</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Principal Occupation(s)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>and Age</U></B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Served<SUP>(7)</SUP></U></B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>During Past
    Five Years</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Bruce N. Alpert</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">President</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 65</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><BR>
                                         Since 2005</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Executive Vice President
    and Chief Operating Officer of Gabelli Funds, LLC since 1988; Officer of registered investment companies within the Gabelli/GAMCO
    Fund Complex; Senior Vice President of GAMCO Investors, Inc. since 2008; Director of Teton Advisors, Inc., 1998-2012</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Agnes Mullady</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Treasurer and Principal and Accounting Financial Officer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 58</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><BR>
                                         <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Since 2006</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">President and Chief
    Operating Officer of the Fund Division of Gabelli Funds, LLC since 2015; Chief Executive Officer of G. distributors, LLC since
    2010; Senior Vice President of GAMCO Investors, Inc. since 2009; Vice President of Gabelli Funds, LLC since 2007; Executive
    Vice President of Associated Capital Group, Inc. since November 2016; Officer of all of the registered investment companies
    within the Gabelli/GAMCO Fund Complex</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Andrea R. Mango</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Secretary and Vice President</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 44</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><BR>
                                         <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Since 2013</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Vice President of GAMCO
    Investors, Inc. since 2016; Counsel of Gabelli Funds, LLC since 2013; Secretary of all registered investment companies within
    the Gabelli/GAMCO Fund Complex since 2013; Vice President of all closed-end funds within the Gabelli/GAMCO Fund Complex since
    2014; Corporate Vice President within the Corporate Compliance Department of New York Life Insurance Company 2011-2013; Vice
    President and Counsel of Deutsche Bank, 2006-2011</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Richard J. Walz</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Chief Compliance Officer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 57</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><BR>
                                         Since 2013</P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Chief Compliance Officer
    of all of the registered investment companies within the Gabelli/GAMCO Fund Complex since 2013; Chief Compliance Officer of
    AEGON USA Investment Management, 2011-2013; Chief Compliance Officer of Cutwater Asset Management, 2004-2011</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Carter W. Austin</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Vice President</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 50</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><BR>
                                         <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Since 2005</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Vice President and/or
    Ombudsman of closed-end funds within the Gabelli/GAMCO Fund Complex; Senior Vice President (since 2015) and Vice President
    (1996-2015) of Gabelli Funds, LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Molly A.F. Marion</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Vice President and Ombudsman</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 63</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><BR>
                                         <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Since 2005</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Vice President and/or
    Ombudsman of closed-end funds within the Gabelli/GAMCO Fund Complex; Vice President of GAMCO Investors, Inc. since 2012</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Laurissa M. Martire</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Vice President and Ombudsman</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 40</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><BR>
                                         <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Since 2010</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Vice President and/or
    Ombudsman of closed-end funds within the Gabelli/GAMCO Fund Complex; Assistant Vice President of GAMCO Investors, Inc. since
    2003</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>David I. Schachter</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Vice President</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Age: 63</P></TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><P STYLE="margin-top: 0; margin-bottom: 0"><BR>
                                         <FONT STYLE="font: 10pt Times New Roman, Times, Serif">Since 2012</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Vice President and/or
    Ombudsman of closed-end funds within the Gabelli/GAMCO Fund Complex; Senior Vice President (since 2015) and Vice President
    (1999-2015) of G.research, LLC</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">Address: One Corporate Center, Rye,
                                         NY 10580-1422.</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">The Fund&rsquo;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.</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">The &ldquo;Fund Complex&rdquo; or
                                         the &ldquo;Gabelli/GAMCO Fund Complex&rdquo; includes all the U.S. registered investment
                                         companies that are considered part of the same fund complex as the Fund because they
                                         have common or affiliated investment advisers.</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">Trustees who are not considered to
                                         be &ldquo;interested persons&rdquo; of the Fund as defined in the 1940 Act are considered
                                         to be &ldquo;Independent&rdquo; Trustees. None of the Independent Trustees (with the
                                         possible exceptions as described in this proxy statement) 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 31, 2016.</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(5)</TD><TD STYLE="text-align: justify">Mr. Colavita&rsquo;s son, Anthony
                                         S. Colavita, and Mr. Fahrenkopf&rsquo;s daughter, Leslie F. Foley, serve as directors
                                         of other funds in the Gabelli/GAMCO Fund Complex. Mr. van Ekris is an independent director
                                         of Gabelli International Ltd., Gabelli Fund LDC, GAMA Capital Opportunities Master, Ltd.,
                                         and GAMCO International SICAV, and Mr. Zizza is an independent director of Gabelli International
                                         Ltd., all of which may be deemed to be controlled by Mario J. Gabelli and/or affiliates
                                         and in that event would be deemed to be under common control with the Fund&rsquo;s Adviser.</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(6)</TD><TD STYLE="text-align: justify">Trustees elected solely by holders
                                         of the Fund&rsquo;s Preferred Shares.</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(7)</TD><TD STYLE="text-align: justify">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 qualifies.</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(8)</TD><TD STYLE="text-align: justify">On September 9, 2015, Mr. Zizza entered
                                         into a settlement with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;)
                                         to resolve an inquiry relating to an alleged violation regarding the making of false
                                         statements or omissions to the accountants of a company concerning a related party transaction.
                                         The company in question is not an affiliate of, nor has any connection to, the Funds.
                                         Under the terms of the settlement, Mr. Zizza, without admitting or denying the SEC&rsquo;s
                                         findings and allegation, paid $150,000 and agreed to cease and desist committing or causing
                                         any future violations of Rule 13b2-2 of the Securities Exchange Act of 1934, as amended
                                         (the &ldquo;1934 Act&rdquo;).</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">*</TD><TD STYLE="text-align: justify">Nominee to serve, if elected, until
                                         the Fund&rsquo;s 2020 Annual Meeting of Shareholders or until his successor is duly elected
                                         and qualifies.</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">**</TD><TD STYLE="text-align: justify">Term continues until the Fund&rsquo;s
                                         2019 Annual Meeting of Shareholders or until his successor is duly elected and qualifies.</TD></TR>
</TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">***</TD><TD STYLE="text-align: justify">Term continues until the Fund&rsquo;s
                                         2018 Annual Meeting of Shareholders or until his successor is duly elected and qualifies.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Board believes
that each Trustee&rsquo;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 sub-administrator, other service providers, counsel, and the Fund&rsquo;s
independent registered public accounting firm, and to exercise effective and independent business judgment in the performance
of their duties as Trustees. Each Trustee&rsquo;s ability to perform his/her duties effectively has been attained in large part
through the Trustee&rsquo;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 Fund Complex, public companies, or non-profit entities, or other organizations
as set forth above and below. Each Trustee&rsquo;s ability to perform his duties effectively also has been enhanced by education,
professional training, and other experience.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Independent Directors/Nominees</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Anthony J. Colavita,
Esq. </I>Mr. Colavita is a practicing attorney with over fifty-five years of experience. He is the Chairman of the Fund&rsquo;s
Nominating Committee and a member of the Fund&rsquo;s <I>ad hoc </I>Proxy Voting Committee. Mr. Colavita serves on comparable
or other board committees with respect to other funds in the Fund Complex on whose boards he sits. He served as a Commissioner
of the New York State Thruway Authority and as a Commissioner of the New York State Bridge Authority, where his duties included
reviewing financial documents of these agencies. He served for eleven years as the elected Supervisor of the Town of Eastchester,
New York, responsible for ten annual municipal budgets. Mr. Colavita also 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 New York
State Republican Party, the Westchester County Republican Party, and the Eastchester Republican Town Committee. Mr. Colavita received
his Bachelor&rsquo;s degree from Fairfield University and his Juris Doctor from Fordham University School of Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>James P. Conn.
</I>Mr. Conn is the Lead Independent Trustee of the Fund, and a member of the Fund&rsquo;s <I>ad hoc </I>Proxy Voting and <I>ad
hoc </I>Pricing Committees. He serves on comparable or other board committees with respect to other funds in the Fund Complex
on whose boards he sits. He was a senior business executive of Transamerica Corp., an insurance holding company, for much of his
career including service as Chief Investment Officer. Mr. 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&rsquo;s degree in Business
Administration from Santa Clara University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Vincent D. Enright.
</I>Mr. Enright is Chairman of the Fund&rsquo;s Audit and <I>ad hoc </I>Proxy Voting Committees, and a member of both multi-fund
<I>ad hoc </I>Compensation Committees. He has been designated as the Fund&rsquo;s Audit Committee Financial Expert. He serves
on comparable or other board committees with respect to other funds in the Fund Complex on whose boards he sits. Mr. Enright was
a senior executive and Chief Financial Officer of KeySpan Corp., an energy public utility, for four years. Mr. Enright is a former
director of a therapeutic and diagnostic company and served as Chairman of its Compensation Committee and as a member of its Audit
Committee. He is a former director of a pharmaceutical company and a diversified manufacturing company. Mr. Enright received his
Bachelor&rsquo;s degree from Fordham University and completed the Advanced Management Program at Harvard University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Frank J. Fahrenkopf,
Jr. </I>Mr. Fahrenkopf is the 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 is a member of the Fund&rsquo;s Audit Committee and serves on comparable or other board
committees with respect to other funds in the Fund Complex on whose boards he sits. Mr. Fahrenkopf is the former President and
Chief Executive Officer of the American Gaming Association (&ldquo;AGA&rdquo;), the trade group for the hotel-casino industry.
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, Great Britain, France, Germany, Canada, Japan, Australia, and twenty
other nations. Prior to becoming the AGA's first chief executive in 1995, Mr. Fahrenkopf was a partner in the law firm of Hogan
&amp; 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's presidency. Mr. Fahrenkopf is the former Chairman of the Finance Committee of the Culinary Institute
of America and remains a member of the board. For over 30 years, </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mr. Fahrenkopf has served on the Board of First Republic Bank
and as Chairman of the Corporate Governance and Nominating Committee and as a member of the Audit Committee. Mr. Fahrenkopf received
his Bachelor's degree from the University of Nevada, Reno and his Juris Doctor from Boalt Hall School of Law, U.C. Berkeley.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Michael J. Melarkey,
Esq. </I>Mr. Melarkey, after more than forty years of experience as an attorney specializing in business, estate planning, and
gaming regulatory work, recently retired from the active practice of law, and is of counsel to the firm of McDonald Carano Wilson
in Reno, Nevada. He is a member of the Fund&rsquo;s Nominating and <I>ad hoc </I>Pricing Committees, and one of the multi-fund
<I>ad hoc </I>Compensation Committees. He serves on comparable or other board committees with respect to other funds in the Fund
Complex on whose boards he sits. He is currently Chairman of the Board of Southwest Gas Corporation and serves on its Nominating,
Corporate Governance, and Compensation Committees. Mr. Melarkey acts as a trustee and officer for several private charitable organizations
including as a trustee of The Bretzlaff Foundation and Edwin L. Wiegand Trust. He is an owner of Pioneer Crossing Casino Group
consisting of three Nevada casinos and an officer of a private oil and gas company. Mr. Melarkey received his Bachelor&rsquo;s
degree from the University of Nevada, Reno, Juris Doctor from the University of San Francisco School of Law, and Masters of Law
in Taxation from New York University School of Law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Salvatore M. Salibello,
CPA. </I>Mr. Salibello is a Senior Partner of Bright Side Consulting and the former Managing Partner of a certified independent
registered public accounting firm with over forty years of experience in public accounting. He serves on the boards of other funds
in the Gabelli/GAMCO Fund Complex. He is a former director of Kid Brands, Inc., a group of companies in infant and juvenile products,
and served as Chairman of its Audit Committee. Mr. Salibello received his Bachelor&rsquo;s degree in Accounting from St. Francis
College and M.B.A. in Finance from Long Island University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Anthonie C. van
Ekris. </I>Mr. van Ekris has been the Chairman and Chief Executive Officer BALMAC International, Inc., a global import/export
company, for over twenty years. He serves on the boards of other funds in the Gabelli/GAMCO Fund Complex and as Chairman of the
GAMCO International SICAV. Mr. van Ekris has over fifty-five years of experience as Chairman and/or Chief Executive Officer of
public and private companies involved in international trading or commodity trading, and served in both of these capacities for
nearly twenty years for a large public jewelry chain. Mr. van Ekris is a former director of an oil and gas operations company.
He served on the boards of a number of public companies and for more than ten years on the Advisory Board of the Salvation Army
of Greater New York.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><I>Salvatore J. Zizza.
</I>Mr. Zizza is the President of Zizza &amp; Associates Corp., a private holding company that invests in various industries.
He also serves as Chairman to other companies involved in manufacturing, recycling, real estate, technology, and pharmaceuticals.
He is a member of the Fund&rsquo;s Audit, Nominating, and <I>ad hoc </I>Pricing Committees, and a member of both multi-fund <I>ad
hoc </I>Compensation Committees. Mr. Zizza serves on comparable or other board committees with respect to other funds in the Fund
Complex on whose boards he sits. In addition to serving on the boards of other funds in the Fund Complex, he is currently and
has previously been a director of other public companies. He was also the President, Chief Executive Officer, and Chief Financial
Officer of a large NYSE-listed construction company. Mr. Zizza received his Bachelor&rsquo;s degree and M.B.A. in Finance from
St. John&rsquo;s University, which awarded him an Honorary Doctorate in Commercial Sciences.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Trustees &ndash; Leadership Structure
and Oversight Responsibilities</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Overall responsibility
for general oversight of the Fund rests with the Board. The Board does not have a Chairman. The Board has appointed Mr. 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 an <I>ad hoc
</I>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 an <I>ad hoc </I>Pricing Committee
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 Fund Complex on special committees or working groups that address fund complex-wide matters, such
as the multi-fund <I>ad hoc </I>Compensation Committee relating to the compensation of the Chief Compliance Officer for all the
funds in the Fund Complex, and a separate multi-fund <I>ad hoc </I>Compensation Committee relating to the compensation of certain
other officers of the closed-end funds in the Fund Complex.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: Red"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">All of the Fund&rsquo;s
Trustees are Independent Trustees, and the Board believes it is able to provide effective oversight of the Fund&rsquo;s service
providers. In addition to providing feedback and direction during Board meetings, the Independent Trustees meet regularly in executive
session and chair all committees of the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Fund&rsquo;s
operations entail a variety of risks, including investment, administration, valuation, and a range of compliance matters. Although
the Adviser, the sub-administrator, and the officers of the Fund are responsible for managing these risks on a day to day 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&rsquo;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&rsquo;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&rsquo;s and such providers&rsquo; compliance
programs. The Board&rsquo;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&rsquo;s risk management from time to time and
may make changes at its discretion at any time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Beneficial Ownership of Shares Held
in the Fund and the Family of Investment Companies for each Trustee and Nominee for Election as Trustee</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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 Complex beneficially owned by each Trustee and nominee
for election as Trustee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 40%; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 30%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Dollar
    Range of Equity</B></FONT></TD>
    <TD NOWRAP STYLE="width: 30%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Aggregate
    Dollar Range of Equity</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Securities
    Held</B></FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Securities
    Held in the</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-decoration: underline"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Name
    of Trustee/Nominee</U></B></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>in
    the Fund*<SUP>(1)</SUP></U></B></FONT></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Family
    of Investment Companies*<SUP>(1)(2)</SUP></U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>INDEPENDENT
    TRUSTEES/NOMINEES:</U></B></FONT></TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Anthony J.
    Colavita</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">B</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">E</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">James P.
    Conn</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">C</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">E</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Vincent D.
    Enright</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">E</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Frank J.
    Fahrenkopf, Jr.</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">E</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Michael J.
    Melarkey</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">C</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">E</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Salvatore
    M. Salibello</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">A</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">E</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Anthonie
    C. van Ekris</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">C</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">E</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Salvatore
    J. Zizza</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">B</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">E</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">*</TD><TD STYLE="text-align: justify">Key to Dollar Ranges</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">A. None</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">B. $1 &ndash; $10,000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">C. $10,001 &ndash; $50,000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">D. $50,001 &ndash; $100,000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">E. Over $100,000</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">All shares were valued as of
December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">This information has been furnished
                                         by each Trustee and nominee for election as Trustee as of December 31, 2016. &ldquo;Beneficial
                                         Ownership&rdquo; is determined in accordance with Rule 16a-1(a)(2) of the 1934 Act.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">The term &ldquo;Family of Investment
                                         Companies&rdquo; 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 &ldquo;Fund Complex&rdquo; are identical to those that comprise the &ldquo;Family
                                         of Investment Companies.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 40%; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 30%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Amount
    and Nature of</B></FONT></TD>
    <TD NOWRAP STYLE="width: 30%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Percent
    of Shares</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Name
    of Trustee/Nominee/Officer</U></B></FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Beneficial
    Ownership<SUP>(1)</SUP></U></B></FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Outstanding<SUP>(2)</SUP></U></B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-decoration: underline; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>INDEPENDENT
    TRUSTEES/NOMINEES:</U></B></FONT></TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Anthony J.
    Colavita</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">370<SUP>(3)</SUP></FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">James P.
    Conn</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5,000</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Vincent D.
    Enright</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Frank J.
    Fahrenkopf, Jr.</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Michael J.
    Melarkey</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3,349</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Salvatore
    M. Salibello</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Anthonie
    C. van Ekris</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2,300</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Salvatore
    J. Zizza</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1,000</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-decoration: underline; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>EXECUTIVE
    OFFICERS:</U></B></FONT></TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bruce N.
    Alpert</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">8,000 Preferred
    B<SUP>(4)</SUP></FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Andrea R.
    Mango</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Agnes Mullady</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Richard J.
    Walz</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">0</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">*</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD STYLE="text-align: justify">This information has been furnished
                                         by each Trustee, including each nominee for election as Trustee, and executive officer
                                         as of December 31, 2016. &ldquo;Beneficial Ownership&rdquo; is determined in accordance
                                         with Rule 13d-3 of the 1934 Act. Reflects ownership of Common Shares unless otherwise
                                         noted.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD STYLE="text-align: justify">An asterisk indicates that the ownership
                                         amount constitutes less than 1% of the total shares outstanding. The ownership of the
                                         Trustees, including nominees for election as Trustee, and executive officers as a group
                                         constitutes less than 1% of the total Common Shares and of the total Preferred Shares
                                         outstanding.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD STYLE="text-align: justify">All 370 Common Shares are owned by
                                         Mr. Colavita&rsquo;s spouse for which he disclaims beneficial ownership.</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD STYLE="text-align: justify">Includes 4,000 Preferred Shares owned
                                         by Mr. Alpert&rsquo;s spouse for which he disclaims beneficial ownership.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Set forth in the
table below is the amount of interests beneficially owned by each Independent Trustee, nominee for election as an Independent
Trustee or his or her family member, as applicable, in a person, other than a registered investment company, that may be deemed
to be controlled by the Fund&rsquo;s Adviser and/or affiliates (including Mario J. Gabelli) and in that event would be deemed
to be under common control with the Fund&rsquo;s Adviser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Name of Owner
    and</FONT></TD><TD NOWRAP STYLE="text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; text-decoration: none">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Name of Independent</FONT></TD><TD NOWRAP STYLE="font-weight: bold; text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Relationships
    to</FONT></TD><TD NOWRAP STYLE="text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Value
    of</FONT></TD><TD NOWRAP STYLE="font-weight: bold; text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Percent of</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; text-decoration: none">
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt"><U>Trustee/Nominee</U></FONT></TD><TD NOWRAP STYLE="font-weight: bold; text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt"><U>Trustee/Nominee</U></FONT></TD><TD NOWRAP STYLE="font-weight: bold; text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt"><U>Company</U></FONT></TD><TD NOWRAP STYLE="font-weight: bold; text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt"><U>Title of
    Class</U></FONT></TD><TD NOWRAP STYLE="font-weight: bold; text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP COLSPAN="2" STYLE="font-weight: bold; text-align: center; text-decoration: none"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Interests<SUP>(1)</SUP></U></B></FONT></TD><TD NOWRAP STYLE="font-weight: bold; text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold; text-decoration: none; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="font-weight: bold; text-align: center; text-decoration: none"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Class<SUP>(2)</SUP></U></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP COLSPAN="2" STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="width: 29%; text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Anthony J. Colavita</FONT></TD><TD NOWRAP STYLE="width: 1%; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="width: 8%; text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="width: 1%; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="width: 20%; text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">The LGL Group, Inc.</FONT></TD><TD NOWRAP STYLE="width: 1%; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="width: 20%; text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Common Stock</FONT></TD><TD NOWRAP STYLE="width: 1%; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="width: 8%; text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">6,697</FONT></TD><TD NOWRAP STYLE="width: 1%; text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="width: 1%; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="width: 8%; text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Anthony J. Colavita</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">The LGL Group, Inc.</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Warrants</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">7</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Anthony J. Colavita</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Family</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Gabelli Associates Fund</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Membership Interests</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">951,130</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Frank J. Fahrenkopf, Jr.</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Gabelli Associates Limited II E</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Membership Interests</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">1,187,704</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Michael J. Melarkey</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Gemini Global Partners, L.P.</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Limited Partner Interests</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">652,874</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">6.26%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Michael J. Melarkey</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Morgan Group Holdings, Inc.</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Common Stock</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">1,560</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Michael J. Melarkey</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">ICTC Group, Inc.</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Common Stock</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">20,280</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Michael J. Melarkey</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">The LGL Group, Inc.</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Common Stock</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">36,224</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Michael J. Melarkey</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">The LGL Group, Inc.</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Warrants</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">36</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Anthonie C. van Ekris</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">LICT Corp.</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Common Stock</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">138,000</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Anthonie C. van Ekris</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">The LGL Group, Inc.</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Common Stock</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">8,032</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Anthonie C. van Ekris</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">The LGL Group, Inc.</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Warrants</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">8</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Anthonie C. van Ekris</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">CIBL, Inc.</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Common Stock</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">32,640</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Anthonie C. van Ekris</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">ICTC Group, Inc.</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Common Stock</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">60</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Anthonie C. van Ekris</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Morgan Group Holdings, Inc.</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Common Stock</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">600</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Salvatore J. Zizza</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Gabelli Associates Fund</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Membership Interests</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">2,278,472</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White; text-decoration: none">
    <TD NOWRAP STYLE="text-align: justify; text-decoration: none"><FONT STYLE="font-size: 10pt">Salvatore J. Zizza</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Same</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Gabelli Performance Partnership
    L.P.</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">Limited Partner Interests</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right; text-decoration: none"><FONT STYLE="font-size: 10pt">304,747</FONT></TD><TD NOWRAP STYLE="text-align: left; text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-decoration: none"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="text-align: center; text-decoration: none"><FONT STYLE="font-size: 10pt">*</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">This information
                                         has been furnished as of December 31, 2016.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: justify">An asterisk indicates
                                         that the ownership amount constitutes less than 1% of the total interests outstanding.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Fund pays each
Independent Trustee an annual retainer of $15,000 plus $2,000 for each Board meeting attended. Each Trustee is reimbursed by the
Fund for any out of pocket expenses incurred in attending meetings. All Board committee members receive $1,000 per meeting attended,
the Audit Committee Chairman receives an annual fee of $3,000, and the Nominating Committee Chairman and the Lead Independent
Trustee each receive 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 out of pocket expenses)
paid by the Fund to such Trustees during the fiscal year ended December 31, 2016 amounted to $200,750. </P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the fiscal year
ended December 31, 2016, the Trustees of the Fund met four times, all of which were regular quarterly Board meetings. 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The Audit Committee and Audit Committee
Report</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The role of the Fund&rsquo;s
Audit Committee is to assist the Board of Trustees in its oversight of (i) the quality and integrity of the Fund&rsquo;s financial
statement reporting process and the independent audit and reviews thereof; (ii) the Fund&rsquo;s accounting and financial reporting
policies and practices, its internal controls, and, as appropriate, the internal controls of certain of its service providers;
(iii) the Fund&rsquo;s compliance with legal and regulatory requirements; and (iv) the independent registered public accounting
firm&rsquo;s qualifications, independence, and performance. The Audit Committee also is required to prepare an audit committee
report pursuant to the rules of the SEC for inclusion in the Fund&rsquo;s annual proxy statement. The Audit Committee operates
pursuant to the Audit Committee Charter (the &ldquo;Audit Charter&rdquo;) that was most recently reviewed and approved by the
Board of Trustees on February 23, 2017. The Audit Charter is available in the Closed-End Funds &ndash; Corporate Governance Section
on the Fund&rsquo;s website at www.gabelli.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Pursuant to the Audit
Charter, the Audit Committee is responsible for conferring with the Fund&rsquo;s independent registered public accounting firm,
reviewing annual financial statements, approving the selection of the Fund&rsquo;s independent registered public accounting firm,
and overseeing the Fund&rsquo;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 (&ldquo;PricewaterhouseCoopers&rdquo;),
the Fund&rsquo;s independent registered public accounting firm for the fiscal year ended December 31, 2016, 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&rsquo;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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In performing its
oversight function, at a meeting held on February 21, 2017, 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 31,
2016, and the conduct of the audit of such financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In addition, the
Audit Committee discussed with PricewaterhouseCoopers the accounting principles applied by the Fund and such other matters brought
to the attention of the Audit Committee by PricewaterhouseCoopers as required by Auditing Standard No. 16, as amended (AICPAAU-C
Section 260), as adopted by the Public Company Accounting Oversight Board (United States) (&ldquo;PCAOB&rdquo;). The Audit Committee
also received from PricewaterhouseCoopers the written disclosures and statements required by the SEC&rsquo;s independence rules,
delineating relationships between PricewaterhouseCoopers and the Fund, and discussed the impact that any such relationships might
have on the objectivity and independence of PricewaterhouseCoopers as the independent registered public accounting firm.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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&rsquo;s financial reporting procedures, internal control systems, and the independent audit process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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&rsquo;s
independent registered public accounting firm. Accordingly, the Audit Committee&rsquo;s oversight does not provide an independent
basis to determine that management has maintained appropriate accounting and/or 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&rsquo;s considerations and discussions referred to above do not provide assurance that the audit
of the Fund&rsquo;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).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Based on its consideration
of the audited financial statements and the discussions referred to above with management and PricewaterhouseCoopers, 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&rsquo;s Board of Trustees that the Fund&rsquo;s audited financial statements
be included in the Fund&rsquo;s Annual Report for the fiscal year ended December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Submitted by the Audit Committee of
the Fund&rsquo;s Board of Trustees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Vincent D. Enright, Chairman</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Frank J. Fahrenkopf, Jr.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Salvatore J. Zizza</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">February 21, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Audit Committee
met two times during the fiscal year ended December 31, 2016. The Audit Committee is composed of three of the Fund&rsquo;s Independent
Trustees, Messrs. Enright (Chairman), 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. Enright has been designated as
the Fund&rsquo;s audit committee financial expert, as defined in Items 407(d)(5)(ii) and (iii) of Regulation S-K (the &ldquo;Audit
Committee Financial Expert&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Nominating Committee</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Board of Trustees
has a Nominating Committee composed of three of the Fund&rsquo;s Independent Trustees, Messrs. Colavita (Chairman), Melarkey,
and Zizza. Each Nominating Committee member is an Independent Trustee as determined under guidelines of the NYSE MKT LLC. The
Nominating Committee met once during the fiscal year ended December 31, 2016. The Nominating Committee is responsible for identifying
and recommending qualified candidates to the Board in the event that a position is vacated or created. 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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&rsquo; 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&rsquo;s specific experiences
and skills, time availability in light of other commitments, potential conflicts of interest, and independence from management
and the Fund. The Fund has adopted specific Trustee qualification requirements that can be found in the Fund&rsquo;s governing
documents and are applicable to all individuals who may be nominated, elected, appointed, qualified or seated to serve as Trustees.
The qualification requirements include: (i) age limits (at least 21 years of age and such maximum age as the Trustees may in the
future determine); (ii) prohibitions regarding any legal disability; (iii) limits on service on other boards; (iv) restrictions
on relationships with investment advisers other than the Fund&rsquo;s adviser; and (v) character and fitness requirements. Additionally,
each Independent Trustee must not be an &quot;interested person&quot; of the Fund as defined under Section 2(a)(19) of the 1940
Act and may not be or have certain relationships with a shareholder beneficially owning five percent or more of the Fund&rsquo;s
outstanding shares or specified levels of interest in registered investment companies. The Fund&rsquo;s By-Laws also provide that
a majority of the Trustees then in office may determine by resolution that a failure to satisfy a particular qualification requirement
will not present undue conflicts or impede the ability of the candidate to discharge the duties of a Trustee or the free flow
of information among Trustees or between the Fund&rsquo;s adviser and the Board. Reference is made to the Fund&rsquo;s governing
documents for more details.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Nominating Committee
also 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 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&rsquo;s service on the Fund&rsquo;s Board, see the biographical information of the Trustees above in the section entitled
&ldquo;Information about Trustees and Officers.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Board of Trustees adopted a Nominating Committee Charter on February
14, 2005. The charter is available in the Closed-End Funds &mdash; Corporate Governance Section on the Fund&rsquo;s website at
www.gabelli.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Other Board Related Matters</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Receipt of Communications</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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 GAMCO Global Gold, Natural Resources &amp; Income Trust, c/o
Gabelli Funds, LLC, One Corporate Center, Rye, NY 10580-1422. To communicate with the Board electronically, shareholders may go
to the corporate website at www.gabelli.com under the heading &ldquo;Contact Us/Email Addresses/Board of Directors (Gabelli Closed-End
Funds).&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Forwarding the Communications</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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&rsquo;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 e-mail is addressed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Fund does not
expect Trustees or nominees for election as Trustee to attend the Meeting. No Trustee or nominee for election as Trustee attended
the Fund&rsquo;s annual meeting of shareholders held on May 9, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The following table
sets forth certain information regarding the compensation of the Trustees by the Fund and officers, if any, who were compensated
by the Fund rather than the Adviser, for the fiscal year ended December 31, 2016.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>COMPENSATION TABLE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR THE FISCAL YEAR ENDED DECEMBER 31,
2016</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">Aggregate</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">Aggregate Compensation
    from</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">Compensation from</FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt">the Fund and Fund Complex</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt"><U>Name of Person and Position</U></FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt"><U>the Fund</U></FONT></TD><TD NOWRAP STYLE="font-weight: bold"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 10pt"><U>Paid to Trustees*</U></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD NOWRAP COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="9" STYLE="font-weight: bold; text-decoration: underline; text-align: justify"><FONT STYLE="font-size: 10pt">INDEPENDENT
    TRUSTEES/NOMINEES:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="width: 78%; font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt">Anthony J. Colavita</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="width: 1%; text-align: right"><FONT STYLE="font-size: 10pt">25,750</FONT></TD><TD STYLE="width: 4%; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="width: 1%; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">411,500</FONT></TD><TD STYLE="width: 4%; text-align: left; padding-left: 0.05in">(36)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Trustee</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt">James P. Conn</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">25,250</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">260,500</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in"><FONT STYLE="font-size: 10pt">(22)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Trustee</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt">Vincent D. Enright</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">28,250</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">216,109</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in">(17)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Trustee</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt">Frank J. Fahrenkopf, Jr.</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">25,250</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">144,000</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in">(11)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Trustee</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt">Michael J. Melarkey</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">23,750</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">123,234</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in">(10)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Trustee</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt">Salvatore M. Salibello</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">23,500</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">67,234</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in">(5)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Trustee</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt">Anthonie C. van Ekris</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">23,250</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">219,500</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in">(22)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Trustee</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt">Salvatore J. Zizza</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">25,750</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">322,500</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in">(30)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Trustee</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-decoration: underline; text-align: justify"><FONT STYLE="font-size: 10pt">OFFICERS:</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt">Molly A.F. Marion</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">95,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Vice President and Ombudsman</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="font-weight: bold; text-align: justify"><FONT STYLE="font-size: 10pt">David I. Schachter</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">65,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD NOWRAP STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Vice President</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-left: 0.05in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">*</TD><TD STYLE="text-align: justify">Represents the total compensation paid
                                         to such persons during the fiscal year ended December 31, 2016, by investment companies
                                         (including the Fund) or portfolios from which such person receives compensation that
                                         are part of the Fund Complex. The number in parentheses represents the number of such
                                         investment companies and portfolios.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Required Vote</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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 present in person or represented by proxy at the Meeting if a quorum is present. A &ldquo;plurality&rdquo;
vote means that the nominees who receive the largest number of votes cast (even if they received less than a majority) will be
elected as trustees. Since the nominees are running unopposed, each nominee only needs one vote to be elected if there is a quorum
present at the Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>THE BOARD OF TRUSTEES,
INCLUDING THE INDEPENDENT TRUSTEES, UNANIMOUSLY RECOMMENDS THAT THE SHAREHOLDERS VOTE &ldquo;FOR&rdquo; THE ELECTION OF EACH APPLICABLE
NOMINEE.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>ADDITIONAL INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Independent Registered Public Accounting
Firm</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">PricewaterhouseCoopers,
300 Madison Avenue, New York, NY 10017, has been selected to serve as the Fund&rsquo;s independent registered public accounting
firm for the fiscal year ending December 31, 2017. PricewaterhouseCoopers acted as the Fund&rsquo;s independent registered public
accounting firm for the fiscal year ended December 31, 2016. 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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&rsquo;s fiscal years ended December 31, 2015 and 2016, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: center"><B>Fiscal Year Ended</B></TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><B>Audit</B></TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><B><U>December 31</U></B></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><B><U>Audit Fees</U></B></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><B><U>Related Fees</U></B></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><B><U>Tax Fees*</U></B></TD>
    <TD NOWRAP STYLE="text-decoration: underline; text-align: center"><B><U>All Other Fees</U></B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 26%; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 17%; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 19%">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 17%; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 21%; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: center">2015</TD>
    <TD NOWRAP STYLE="text-align: center">$58,350</TD>
    <TD NOWRAP STYLE="text-align: center">$ 7,500</TD>
    <TD NOWRAP STYLE="text-align: center">$ 55,243</TD>
    <TD NOWRAP STYLE="text-align: center">&mdash;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: center">2016</TD>
    <TD NOWRAP STYLE="text-align: center">$43,497</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&mdash;</TD>
    <TD NOWRAP STYLE="text-align: center">$ 55,374</TD>
    <TD NOWRAP STYLE="text-align: center">&mdash;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">*</TD><TD STYLE="text-align: justify">&ldquo;Tax Fees&rdquo; are those fees
                                         billed by PricewaterhouseCoopers in connection with tax compliance services, including
                                         primarily the review of the Fund&rsquo;s income tax returns.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Fund&rsquo;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&rsquo;s Adviser and service providers controlling, controlled by, or under common control with the
Fund&rsquo;s Adviser (&ldquo;affiliates&rdquo;) that provide ongoing services to the Fund (a &ldquo;Covered Services Provider&rdquo;),
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&rsquo;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&rsquo;s pre-approval
responsibilities to other persons (other than the Adviser or the Fund&rsquo;s officers). Pre-approval by the Audit Committee of
any permissible non-audit services is not required so long as: (i) 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) the permissible non-audit services were not recognized by the Fund at the time of the engagement to be non-audit
services; and (iii) 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 31, 2015 and December 31, 2016 were pre-approved
by the Audit Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">For the fiscal years
ended December 31, 2015 and 2016, PricewaterhouseCoopers 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 Covered Services Provider.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Audit Committee
was not required to consider whether the provision of non-audit services that were rendered to the Adviser or Covered Service
Providers that were not pre-approved was compatible with maintaining PricewaterhouseCoopers&rsquo; independence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>The Investment Adviser, Administrator,
and Principal Underwriter</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Gabelli Funds, LLC
is the Fund&rsquo;s Adviser and Administrator and its business address is One Corporate Center, Rye, New York 10580-1422. G. research,
LLC, is the Fund&rsquo;s Principal Underwriter and its business address is One Corporate Center, Rye, New York 10580-1422.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Section 16(a) Beneficial Ownership
Reporting Compliance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Section 16(a) of
the 1934 Act and Section 30(h) of the 1940 Act, and the rules thereunder, require the Fund&rsquo;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&rsquo;s securities to file reports of ownership and changes in ownership with the SEC and
the NYSE MKT LLC and to furnish the Fund with copies of all Section 16(a) forms they file. Based solely on the Fund&rsquo;s review
of the copies of such forms it received, if any, for the fiscal year ended December 31, 2016, the Fund believes that during that
year such persons complied with all such applicable filing requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Broker Non-Votes and Abstentions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">For purposes of determining
the presence of a quorum for transacting business at the Meeting, abstentions (or &ldquo;withheld votes&rdquo; with respect to
the election of Trustees) and broker &ldquo;non-votes&rdquo; (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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Because the Fund
requires a plurality of votes to elect each nominee for Trustee, abstentions and broker non-votes, if any, will not be counted
as votes cast, but will have no effect on the result of the vote. Abstentions and any broker non-votes, however, will be considered
to be present at the Meeting for purposes of determining the existence of a quorum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Brokers holding shares
of the Fund in &ldquo;street name&rdquo; 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 1 before the Meeting. Under the rules of the NYSE MKT LLC, such
brokers may, for certain &ldquo;routine&rdquo; 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&rsquo;
request for voting instructions. Proposal 1 is a &ldquo;routine&rdquo; 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 1.
A properly executed proxy card or other authorization by a beneficial owner of shares that does not specify how the beneficial
owner&rsquo;s shares should be voted on Proposal 1 may be deemed an instruction to vote such shares in favor of the proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Shareholders of the
Fund will be informed of the voting results of the Meeting in the Fund&rsquo;s Semiannual Report for the six months ended June
30, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&ldquo;Householding&rdquo;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Please note that
only one document (i.e., an annual or semiannual report or set of proxy soliciting 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 a document, 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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: Red">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>OTHER MATTERS
TO COME BEFORE THE MEETING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SHAREHOLDER NOMINATIONS
AND PROPOSALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">All proposals by
shareholders of the Fund that are intended to be presented pursuant to Rule 14a-8 under the 1934 Act (&ldquo;Rule 14a-8&rdquo;)
at the Fund&rsquo;s next Annual Meeting of Shareholders to be held in 2018 (the &ldquo;2018 Annual Meeting&rdquo;) must be received
by the Fund for consideration for inclusion in the Fund&rsquo;s 2018 proxy statement and 2018 proxy relating to that meeting no
later than December 6, 2017. Rule 14a-8 specifies a number of procedural and eligibility requirements to be satisfied by a shareholder
submitting a proposal for inclusion in the Fund&rsquo;s proxy materials pursuant to Rule 14a-8. Any shareholder contemplating
submissions of such a proposal is referred to Rule 14a-8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The Fund&rsquo;s
Bylaws require shareholders that wish to nominate Trustees or make proposals to be voted on at an Annual Meeting of the Fund&rsquo;s
Shareholders (and which are not proposed to be included in the Fund&rsquo;s proxy materials pursuant to Rule 14a-8) to provide
timely notice of the nomination or proposal in writing. To be considered timely for the 2018 Annual Meeting, the shareholder notice
(and information summarized below and described fully in the Fund&rsquo;s Bylaws) must be sent to the Fund's Secretary, c/o Gabelli
Funds, LLC, One Corporate Center, Rye, NY 10580-1422, and must be received by the Secretary no earlier than December 16, 2017
and no later than January 15, 2018; provided, however, that if the 2018 Annual Meeting is to be held on a date that is earlier
than April 20, 2018 or later than June 9, 2018, such notice must be so received not later than the close of business on the 10th
day following the date on which notice of the date of the annual meeting was mailed or public disclosure of the date of such annual
meeting was made, whichever occurred first. In no event shall the adjournment or postponement of an annual meeting, or the public
announcement of such an adjournment or postponement, commence a new time period (or extend any time period) for the giving of
a shareholder's notice as described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In order for a shareholder
of record to propose a nominee for Trustee, such shareholder must furnish written notice setting forth specified information about
the nominee and associates of the nominee, the shareholder(s) of record (and if different, each beneficial owner on whose behalf
the nomination is being made) and associates of the shareholder(s), as well as an executed certificate by the nominee relating
to the nominee's disclosure of any agreement, arrangement or understanding with any person or entity other than the Fund in connection
with service as a Trustee of the Fund, the nominee's consent to serve as a Trustee if elected and the nominee's satisfaction of
the Trustee qualifications set forth in the Fund's governing documents. If requested by the Nominating Committee, the proposing
shareholder will need to also submit a completed and signed trustee's questionnaire, including a supplement, relating to the nominee's
satisfaction of the qualifications requirements set forth in the governing documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The foregoing description
of the procedures for a shareholder of the Fund properly to make a nomination for election to the Board or to propose other business
for the Fund is only a summary and is not complete. Copies of the Fund's governing documents, including the provisions that concern
the requirements for shareholder nominations and proposals, are available on the EDGAR Database on the SEC's website at www.sec.gov.
The Fund will also furnish, without charge, a copy of its governing documents to a shareholder upon request, which may be requested
by writing to the Fund's Secretary, c/o Gabelli Funds, LLC, One Corporate Center, Rye, NY 10580-1422. Any shareholder of the Fund
considering making a nomination or other proposal should carefully review and comply with those provisions of the Fund's governing
documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>IT IS IMPORTANT
THAT PROXIES BE RETURNED PROMPTLY.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>SHAREHOLDERS MAY
PROVIDE THEIR VOTE BY TELEPHONE OR THE INTERNET BY FOLLOWING THE INSTRUCTIONS ACCOMPANYING THE PROXY CARD, VOTING INSTRUCTION
FORM OR SET FORTH IN THE NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIALS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">April 5, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse;'>
 <tr>
        <td width="50%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><I><B><font FACE="ARIAL" STYLE='FONT-SIZE:8PT'>PROXY TABULATOR</font></B></I><i></i></p> </td>
        <td width="50%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><I><B><font FACE="ARIAL" STYLE='FONT-SIZE:8PT'>P.O. BOX 9112</font></B></I><i></i></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><b><font face="Arial" style='font-size:8pt'>To vote by Internet</font></b></p> </td> </tr>
 <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><I><B><font FACE="ARIAL" STYLE='FONT-SIZE:8PT'>FARMINGDALE, NY 11735</font></B></I><i></i></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:.15in;margin-right:0in;text-indent:-.15in;text-align:left;margin-top:0in;margin-bottom:0in;'><font face="Arial" style='font-size:8pt'>1)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Read the Proxy Statement and have the proxy card below at hand.</font></p> </td> </tr>
 <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><font face="Arial" style='font-size:8pt'>2)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Go to website </font><b><font face="Arial" style='font-size:8pt'>www.proxyvote.com</font></b></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><font face="Arial" style='font-size:8pt'>3)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Follow the instructions provided on the website.</font></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><b><font face="Arial" style='font-size:8pt'>To vote by Telephone</font></b></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><font face="Arial" style='font-size:8pt'>1)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Read the Proxy Statement and have the proxy card below at hand.</font></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><font face="Arial" style='font-size:8pt'>2)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Call </font><b><font face="Arial" style='font-size:8pt'>1-800-690-6903</font></b></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><font face="Arial" style='font-size:8pt'>3)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Follow the instructions.</font></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><b><font face="Arial" style='font-size:8pt'>To vote by Mail</font></b></td> </tr>
		<tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p></td> </tr>
             <tr>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><font face="Arial" style='font-size:8pt'>1)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Read the Proxy Statement.</font></td> </tr>
             <tr>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:.15in;margin-right:0in;text-indent:-.15in;text-align:left;margin-top:0in;margin-bottom:0in;'><font face="Arial" style='font-size:8pt'>2)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Check the appropriate box on the proxy card below.</font></p> </td> </tr>
 <tr>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:.15in;margin-right:0in;text-indent:-.15in;text-align:left;margin-top:0in;margin-bottom:0in;'><font face="Arial" style='font-size:8pt'>3)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Sign and date the proxy card.</font></p> </td> </tr>
 <tr>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:.15in;margin-right:0in;text-indent:-.15in;text-align:left;margin-top:0in;margin-bottom:0in;'><font face="Arial" style='font-size:8pt'>4)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Return the proxy card in the envelope provided.</font></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' margin-left:0pt;border-collapse:collapse;'>

 <tr style='height:12.6pt;'>
        <td colspan="2" style=' height:12.6pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font FACE="ARIAL" STYLE='FONT-SIZE:7PT'>TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:</font></p> </td>
        <td style='height:12.6pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td> </tr>

 <tr style='height:12.6pt;'>
        <td colspan="2" style='border-bottom:dashed black 1.5pt; height:12.6pt;'>
                      <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'> <font FACE="ARIAL" STYLE='FONT-SIZE:7PT'>E22323-P89947</font></p> </td>
        <td style='border-bottom:dashed black 1.5pt; height:12.6pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'> <font FACE="ARIAL" STYLE='FONT-SIZE:7PT'>KEEP THIS PORTION FOR YOUR RECORDS</font></p> </td> </tr>
 <tr>
        <td width="24%" valign=bottom >
                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="40%" valign=bottom >
                        <p style=' margin-left:0in;margin-right:1.45pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="34%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font FACE="ARIAL" STYLE='FONT-SIZE:7PT'>DETACH AND RETURN THIS PORTION ONLY</font></p> </td> </tr>
 <tr>
        <td ></td>
                    <td ></td>
        <td ></td> </tr> </table>
            </div>
<p style=' margin-bottom:0pt; margin-top:2pt;text-align:center;'><B><font FACE="ARIAL" STYLE='FONT-SIZE:9PT'>THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.</font></B></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:3pt'>&nbsp;</font></p>
<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse; '>
 <tr>
        <td colspan="2" valign=bottom style='border-top:solid black 2.25pt; border-left:solid black 2.25pt;border-bottom:none;border-right:none; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-top:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom style=' border-top:solid black 2.25pt;'><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p></td>
        <td colspan="2" valign=bottom style=' border-top:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-top:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style=' border-top:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; border-left:none;border-bottom:none;border-right:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="15" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><B><font FACE="ARIAL" STYLE='FONT-SIZE:9PT'>GAMCO
                        GLOBAL GOLD, NATURAL RESOURCES &amp; INCOME TRUST</font></B></p></td>
        <td colspan="5" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="13" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><B><font FACE="ARIAL" STYLE='FONT-SIZE:9PT'>COMMON SHAREHOLDER</font></B></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; border-left:none;border-bottom:none;border-right:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p></td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=middle rowspan=2 style='background:black; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font COLOR="#FFFFFF"><B><font FACE="ARIAL" STYLE='FONT-SIZE:15PT'>A</font></B></font></p> </td>
        <td colspan="8" rowspan=2 valign=bottom >
                      <p style=' margin-left:3pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt;'><b><font face="Arial" style='font-size:7pt'>Election of Trustees &#151; The Board of Trustees recommends a vote <u>FOR</u> each of the nominees listed.</font></b></p> </td>
        <td rowspan=2 valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" rowspan=2 valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><b><font face="Arial" style='font-size:7pt'>For</font></b><br> <b><font face="Arial" style='font-size:7pt'>All</font></b></p> </td>
        <td rowspan=2 valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><b><font face="Arial" style='font-size:7pt'>Withhold</font></b><br> <b><font face="Arial" style='font-size:7pt'>All</font></b></p> </td>
        <td rowspan=2 valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><b><font face="Arial" style='font-size:7pt'>For All</font></b><br> <b><font face="Arial" style='font-size:7pt'>Except</font></b></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="3" rowspan=4 valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:7pt'>To withhold authority to vote for any individual&nbsp;nominee(s), mark &#147;For All Except&#148; and write the&nbsp;name(s)&nbsp;of the nominee(s) on the line below.</font></p> </td>
        <td rowspan=4 valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p>
                        </td>
        <td colspan="4" valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p></td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>1.</font></p> </td>
        <td colspan="7" valign=bottom >
                      <p style=' margin-left:3pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>To elect two (2) Trustees of the Fund:</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="7" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="2" rowspan=2 valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font face=Wingdings>o</font></p> </td>
        <td rowspan=2 valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font face=Wingdings>o</font></p> </td>
        <td rowspan=2 valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font face=Wingdings>o</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="7" valign=bottom >
                        <p style=' margin-left:3pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><b><font face="Arial" style='font-size:8pt'>Nominees:</font></b></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom style=' border-bottom:solid black 1.5pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-bottom: solid black 1.5pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="7" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:3pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>01)</font></p> </td>
        <td colspan="6" valign=bottom >
                      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>Frank J. Fahrenkopf, Jr.</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:3pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>02)</font></p> </td>
        <td colspan="6" valign=bottom >
                      <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>Salvatore J. Zizza</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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 <tr>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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 <tr>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:3pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><b><font face="Arial" style='font-size:8pt'>Authorized Signatures &#151; This section must be completed for your vote to be counted. &#151; Sign and Date Below</font></b></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>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.</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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        <td valign=bottom style='border-left:solid black 2.25pt; '>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:6pt'>Signature [PLEASE SIGN WITHIN BOX]</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:6pt'>Date</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:6pt'>Signature (Joint Owners)</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:6pt'>Date</font></p> </td>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font face="Arial" style='font-size:10pt'>Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting:</font></b></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" style='font-size:10pt'>The Notice and Proxy Statement is available at www.proxyvote.com.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font style='font-size:10pt'>&#9660;&nbsp;&nbsp;&nbsp;</font><B><font FACE="ARIAL" STYLE='FONT-SIZE:8PT'>PLEASE FOLD ALONG THE PERFORATION, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE.</font></B><font style='font-size:10pt'>&nbsp;&nbsp;&nbsp;&#9660;</font></p>
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        <td width="62%" valign=bottom style='border-top: dashed black 1.5pt;'>
                        <p style=' margin-left:0pt;margin-right:1.45pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'> </p> </td>
        <td width="37%" valign=bottom style='border-top: dashed black 1.5pt;'>
    <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'> <font FACE="ARIAL" STYLE='FONT-SIZE:7PT'>E22324-P89947</font></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
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        <td valign=bottom style='border-top:solid black 2.25pt; border-left:solid black 2.25pt;border-bottom:none;border-right:none; '>
                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-top:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; border-left:none;border-bottom:none;border-right:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
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        <td width="2%" valign=bottom style='border-left:solid black 2.25pt; '>
                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td width="47%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td width="47%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
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                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
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                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
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        <td valign=bottom style='border-left:solid black 2.25pt; '>
                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
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        <td valign=bottom style='border-left:solid black 2.25pt; '>
                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black .5pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt;'><B><font FACE="ARIAL" STYLE='FONT-SIZE:10PT'>GAMCO
                        GLOBAL GOLD, NATURAL RESOURCES &amp; INCOME TRUST</font></B></p>
            <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:8pt;margin-bottom:0pt;'><b><font face="Arial" style='font-size:10pt'>This proxy is solicited on behalf of the Board of Trustees</font></b></p>
<p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:8pt;margin-bottom:0pt;'><font face="Arial" style='font-size:10pt'>The
undersigned hereby appoints Mario J. Gabelli, Andrea R. Mango and Agnes Mullady, 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 GAMCO Global Gold, Natural Resources &amp; 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, 15, 2017, at 1:30 p.m., and at any
adjournments thereof (the &#147;Meeting&#148;). 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. </font></p>

            <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:8pt;margin-bottom:0pt;'><font face="Arial" style='font-size:10pt'>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.
</font></p>
            <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:8pt;margin-bottom:0pt;'><font face="Arial" style='font-size:10pt'>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 <strong>FOR</strong> 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. 1.</font></p>
            <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
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        <td valign=bottom style='border-top:none;border-left: solid black 2.25pt;border-bottom:none;border-right:solid black .5pt; '>
                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:5pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-right:solid black .5pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font style='font-size:5pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:5pt'>&nbsp;</font></p> </td> </tr>
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        <td valign=bottom style='border-top:none;border-left: solid black 2.25pt;border-bottom:none;border-right:solid black .5pt; '>
                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-right:solid black .5pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><B><font FACE="ARIAL" STYLE='FONT-SIZE:9PT'>PLEASE VOTE, SIGN AND DATE ON THE REVERSE SIDE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE.</font></B></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
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        <td valign=bottom style='border-top:none;border-left: solid black 2.25pt;border-bottom:none;border-right:solid black .5pt; '>
                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:5pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font style='font-size:5pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:5pt'>&nbsp;</font></p> </td> </tr>
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        <td valign=bottom style='border-top:none;border-left: solid black 2.25pt;border-bottom:solid black 2.25pt;border-right: none;'>
                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:5pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:none;border-left: none;border-bottom:solid black 2.25pt;border-right:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
 </table>
</div>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>

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        <td width="50%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><I><B><font FACE="ARIAL" STYLE='FONT-SIZE:8PT'>PROXY TABULATOR</font></B></I><i></i></p> </td>
        <td width="50%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
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        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><I><B><font FACE="ARIAL" STYLE='FONT-SIZE:8PT'>P.O. BOX 9112</font></B></I><i></i></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><b><font face="Arial" style='font-size:8pt'>To vote by Internet</font></b></p> </td> </tr>
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        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><I><B><font FACE="ARIAL" STYLE='FONT-SIZE:8PT'>FARMINGDALE, NY 11735</font></B></I><i></i></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
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        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:.15in;margin-right:0in;text-indent:-.15in;text-align:left;margin-top:0in;margin-bottom:0in;'><font face="Arial" style='font-size:8pt'>1)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Read the Proxy Statement and have the proxy card below at hand.</font></p> </td> </tr>
 <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><font face="Arial" style='font-size:8pt'>2)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Go to website </font><b><font face="Arial" style='font-size:8pt'>www.proxyvote.com</font></b></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><font face="Arial" style='font-size:8pt'>3)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Follow the instructions provided on the website.</font></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><b><font face="Arial" style='font-size:8pt'>To vote by Telephone</font></b></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><font face="Arial" style='font-size:8pt'>1)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Read the Proxy Statement and have the proxy card below at hand.</font></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><font face="Arial" style='font-size:8pt'>2)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Call </font><b><font face="Arial" style='font-size:8pt'>1-800-690-6903</font></b></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><font face="Arial" style='font-size:8pt'>3)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Follow the instructions.</font></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p></td> </tr>
             <tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><b><font face="Arial" style='font-size:8pt'>To vote by Mail</font></b></td> </tr>
		<tr>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p></td> </tr>
             <tr>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><font face="Arial" style='font-size:8pt'>1)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Read the Proxy Statement.</font></td> </tr>
             <tr>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:.15in;margin-right:0in;text-indent:-.15in;text-align:left;margin-top:0in;margin-bottom:0in;'><font face="Arial" style='font-size:8pt'>2)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Check the appropriate box on the proxy card below.</font></p> </td> </tr>
 <tr>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:.15in;margin-right:0in;text-indent:-.15in;text-align:left;margin-top:0in;margin-bottom:0in;'><font face="Arial" style='font-size:8pt'>3)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Sign and date the proxy card.</font></p> </td> </tr>
 <tr>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:.15in;margin-right:0in;text-indent:-.15in;text-align:left;margin-top:0in;margin-bottom:0in;'><font face="Arial" style='font-size:8pt'>4)</font><font face="Arial" style='font-size:8pt'>&nbsp;&nbsp;</font><font face="Arial" style='font-size:8pt'>Return the proxy card in the envelope provided.</font></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' margin-left:0pt;border-collapse:collapse;'>

 <tr style='height:12.6pt;'>
        <td colspan="2" style=' height:12.6pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font FACE="ARIAL" STYLE='FONT-SIZE:7PT'>TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK AS FOLLOWS:</font></p> </td>
        <td style='height:12.6pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:10pt'>&nbsp;</font></p> </td> </tr>

 <tr style='height:12.6pt;'>
        <td colspan="2" style='border-bottom:dashed black 1.5pt; height:12.6pt;'>
                      <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'> <font FACE="ARIAL" STYLE='FONT-SIZE:7PT'>E22325-P89947</font></p> </td>
        <td style='border-bottom:dashed black 1.5pt; height:12.6pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'> <font FACE="ARIAL" STYLE='FONT-SIZE:7PT'>KEEP THIS PORTION FOR YOUR RECORDS</font></p> </td> </tr>
 <tr>
        <td width="24%" valign=bottom >
                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="40%" valign=bottom >
                        <p style=' margin-left:0in;margin-right:1.45pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom: 0in;'><font style='font-size:10pt'>&nbsp;</font></p> </td>
        <td width="34%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font FACE="ARIAL" STYLE='FONT-SIZE:7PT'>DETACH AND RETURN THIS PORTION ONLY</font></p> </td> </tr>
 <tr>
        <td ></td>
                    <td ></td>
        <td ></td> </tr> </table>
            </div>
<p style=' margin-bottom:0pt; margin-top:2pt;text-align:center;'><B><font FACE="ARIAL" STYLE='FONT-SIZE:9PT'>THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED.</font></B></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:3pt'>&nbsp;</font></p>
<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse; '>
 <tr>
        <td colspan="2" valign=bottom style='border-top:solid black 2.25pt; border-left:solid black 2.25pt;border-bottom:none;border-right:none; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-top:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom style=' border-top:solid black 2.25pt;'><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p></td>
        <td colspan="2" valign=bottom style=' border-top:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-top:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="5" valign=bottom style=' border-top:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; border-left:none;border-bottom:none;border-right:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="15" valign=bottom >
                <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><B><font FACE="ARIAL" STYLE='FONT-SIZE:9PT'>GAMCO
                GLOBAL GOLD, NATURAL RESOURCES &amp; INCOME TRUST</font></B></p></td>
        <td colspan="5" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="13" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><B><font FACE="ARIAL" STYLE='FONT-SIZE:9PT'>SERIES B PREFERRED SHAREHOLDER</font></B></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; border-left:none;border-bottom:none;border-right:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p></td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=middle rowspan=2 style='background:black; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font COLOR="#FFFFFF"><B><font FACE="ARIAL" STYLE='FONT-SIZE:15PT'>A</font></B></font></p> </td>
        <td colspan="8" rowspan=2 valign=bottom >
                      <p style=' margin-left:3pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt;'><b><font face="Arial" style='font-size:7pt'>Election of Trustees &#151; The Board of Trustees recommends a vote <u>FOR</u> each of the nominees listed.</font></b></p> </td>
        <td rowspan=2 valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" rowspan=2 valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><b><font face="Arial" style='font-size:7pt'>For</font></b><br> <b><font face="Arial" style='font-size:7pt'>All</font></b></p> </td>
        <td rowspan=2 valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><b><font face="Arial" style='font-size:7pt'>Withhold</font></b><br> <b><font face="Arial" style='font-size:7pt'>All</font></b></p> </td>
        <td rowspan=2 valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><b><font face="Arial" style='font-size:7pt'>For All</font></b><br> <b><font face="Arial" style='font-size:7pt'>Except</font></b></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="3" rowspan=4 valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:7pt'>To withhold authority to vote for any individual&nbsp;nominee(s), mark &#147;For All Except&#148; and write the&nbsp;name(s)&nbsp;of the nominee(s) on the line below.</font></p> </td>
        <td rowspan=4 valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p>
                        </td>
        <td colspan="4" valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p></td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=top >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>1.</font></p> </td>
        <td colspan="9" valign=bottom >
                      <p style=' margin-left:3pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>To elect three (3) Trustees of the Fund:</font><font style='font-size:7pt'>&nbsp;</font></p></td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="7" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="2" rowspan=2 valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font face=Wingdings>o</font></p> </td>
        <td rowspan=2 valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font face=Wingdings>o</font></p> </td>
        <td rowspan=2 valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font face=Wingdings>o</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="7" valign=bottom >
                        <p style=' margin-left:3pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><b><font face="Arial" style='font-size:8pt'>Nominees:</font></b></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom style=' border-bottom:solid black 1.5pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-bottom: solid black 1.5pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="7" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:4pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:3pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>01)</font></p> </td>
        <td colspan="6" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>Frank J. Fahrenkopf, Jr.</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:3pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>02)</font></p> </td>
        <td colspan="6" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>Salvatore J. Zizza</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom ><p style=' margin-left:3pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>03)</font></p></td>
        <td colspan="6" valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>Anthony J. Colavita</font></p></td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p></td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p></td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom ><p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p></td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="4" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td colspan="2" valign=bottom style=' border-left:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom >
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font COLOR="#FFFFFF"><B><font FACE="ARIAL" STYLE='FONT-SIZE:15PT'>B</font></B></font></p> </td>
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                        <p style=' margin-left:3pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><b><font face="Arial" style='font-size:8pt'>Authorized Signatures &#151; This section must be completed for your vote to be counted. &#151; Sign and Date Below</font></b></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:8pt'>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.</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:none;border-left: none;border-bottom:solid black 1.5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:6pt'>Signature [PLEASE SIGN WITHIN BOX]</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:6pt'>Date</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:6pt'>Signature (Joint Owners)</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:0in;margin-bottom:0pt;'><font face="Arial" style='font-size:6pt'>Date</font></p> </td>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
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                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="10" valign=bottom style=' border-bottom:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td colspan="3" valign=bottom style=' border-bottom:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:none;border-left: none;border-bottom:solid black 2.25pt;border-right:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:7pt'>&nbsp;</font></p> </td> </tr>
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<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:12pt'>&nbsp;</font></p>

<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><b><font face="Arial" style='font-size:10pt'>Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting:</font></b></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font face="Arial" style='font-size:10pt'>The Notice and Proxy Statement is available at www.proxyvote.com.</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font face="Arial" style='font-size:10pt'>&nbsp;</font></p>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:center;'><font style='font-size:10pt'>&#9660;&nbsp;&nbsp;&nbsp;</font><B><font FACE="ARIAL" STYLE='FONT-SIZE:8PT'>PLEASE FOLD ALONG THE PERFORATION, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE.</font></B><font style='font-size:10pt'>&nbsp;&nbsp;&nbsp;&#9660;</font></p>
<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' margin-left:0pt;border-collapse:collapse;'>
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        <td width="62%" valign=bottom style='border-top: dashed black 1.5pt;'>
                        <p style=' margin-left:0pt;margin-right:1.45pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'> </p> </td>
        <td width="37%" valign=bottom style='border-top: dashed black 1.5pt;'>
    <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'> <font FACE="ARIAL" STYLE='FONT-SIZE:7PT'>E22326-P89947</font></p> </td> </tr></table>
</div>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
<div align=left>
<table border="0" cellspacing=0 cellpadding=0 width="100%" style=' border-collapse:collapse; '>
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        <td valign=bottom style='border-top:solid black 2.25pt; border-left:solid black 2.25pt;border-bottom:none;border-right:none; '>
                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-top:solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:solid black 2.25pt; border-left:none;border-bottom:none;border-right:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
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        <td width="2%" valign=bottom style='border-left:solid black 2.25pt; '>
                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td width="47%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td width="47%" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td width="3%" valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
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        <td valign=bottom style='border-left:solid black 2.25pt; '>
                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td valign=bottom style='border-left:solid black 2.25pt; '>
                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td valign=bottom style='border-left:solid black 2.25pt; '>
                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom >
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td valign=bottom style='border-left:solid black 2.25pt; '>
                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black .5pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt;'><B><font FACE="ARIAL" STYLE='FONT-SIZE:10PT'>GAMCO
                        GLOBAL GOLD, NATURAL RESOURCES &amp; INCOME TRUST</font></B></p>
            <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:8pt;margin-bottom:0pt;'><b><font face="Arial" style='font-size:10pt'>This proxy is solicited on behalf of the Board of Trustees</font></b></p>
<p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:8pt;margin-bottom:0pt;'><font face="Arial" style='font-size:10pt'>The
undersigned hereby appoints Mario J. Gabelli, Andrea R. Mango and Agnes Mullady, 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 GAMCO Global Gold, Natural Resources &amp; 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 15, 2017, at&nbsp;1:30&nbsp;p.m., and
at any adjournments thereof (the &#147;Meeting&#148;). 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.</font></p>

            <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:8pt;margin-bottom:0pt;'><font face="Arial" style='font-size:10pt'>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.
</font></p>
            <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:8pt;margin-bottom:0pt;'><font face="Arial" style='font-size:10pt'>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 <strong>FOR</strong> 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. 1.</font></p>
            <p style=' margin-left:0pt;text-indent:0pt;text-align:justify;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td valign=bottom style='border-top:none;border-left: solid black 2.25pt;border-bottom:none;border-right:solid black .5pt; '>
                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:5pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-right:solid black .5pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font style='font-size:5pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:5pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td valign=bottom style='border-top:none;border-left: solid black 2.25pt;border-bottom:none;border-right:solid black .5pt; '>
                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-right:solid black .5pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><B><font FACE="ARIAL" STYLE='FONT-SIZE:9PT'>PLEASE VOTE, SIGN AND DATE ON THE REVERSE SIDE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE.</font></B></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td valign=bottom style='border-top:none;border-left: solid black 2.25pt;border-bottom:none;border-right:solid black .5pt; '>
                        <p style=' margin-left:8.65pt;margin-right:0in;text-indent:-8.65pt;text-align:left;margin-top:0in;margin-bottom: 0in;'><font style='font-size:5pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style='border-top:none; border-left:none;border-bottom:solid black .5pt;border-right:solid black .5pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:center;margin-top:0in;margin-bottom:0pt;'><font style='font-size:5pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-right: solid black 2.25pt;'>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:0in;margin-bottom:0pt;'><font style='font-size:5pt'>&nbsp;</font></p> </td> </tr>
 <tr>
        <td valign=bottom style='border-top:none;border-left: solid black 2.25pt;border-bottom:solid black 2.25pt;border-right: none;'>
                        <p style=' margin-left:8.65pt;text-indent:-8.65pt;text-align:left;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:5pt'>&nbsp;</font></p> </td>
        <td colspan="2" valign=bottom style=' border-bottom:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td>
        <td valign=bottom style='border-top:none;border-left: none;border-bottom:solid black 2.25pt;border-right:solid black 2.25pt; '>
                        <p style=' margin-left:0pt;text-indent:0pt;text-align:right;margin-top:2pt;margin-bottom:0pt;'><font style='font-size:8pt'>&nbsp;</font></p> </td> </tr>
 </table>
</div>
<p style=' margin-bottom:0pt; margin-top:0pt;text-align:left;'><font style='font-size:10pt'>&nbsp;</font></p>
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