<DOCUMENT>
<TYPE>EX-99.2E
<SEQUENCE>3
<FILENAME>drip.txt
<DESCRIPTION>DIVIDEND REINVESTMENT PLAN
<TEXT>
                             Terms and Conditions of
                        the Dividend Reinvestment Plan of
                            Global Income Fund, Inc.


     1. Each shareholder (the "Shareholder") holding shares of common stock (the
"Shares") of Global Income Fund, Inc. (the "Fund") will automatically be a
participant in the Dividend Reinvestment Plan (the "Plan"), unless the
Shareholder specifically elects to receive all dividends and capital gains in
cash paid by check mailed directly to the Shareholder by State Street Bank and
Trust Company as agent under the Plan (the "Agent"). The Agent will open an
account for each Shareholder under the Plan in the same name in which such
Shareholder's shares of Common Stock are registered.

     2. Whenever the Fund declares a capital gain distribution or an income
dividend payable in Shares or cash, participating Shareholders will take the
distribution or dividend entirely in Shares and the Agent will automatically
receive the Shares, including fractions, for the Shareholder's account in
accordance with the following:

               Whenever the Market Price (as defined in Section 3 below) per
          Share is equal to or exceeds the net asset value per Share at the time
          Shares are valued for the purpose of determining the number of Shares
          equivalent to the cash dividend or capital gain distribution (the
          "Valuation Date"), participants will be issued additional Shares equal
          to the amount of such dividend divided by the Fund's net asset value
          per Share. Whenever the Market Price per Share is less than such net
          asset value on the Valuation Date, participants will be issued
          additional Shares equal to the amount of such dividend divided by the
          Market Price. The Valuation Date is the dividend or distribution
          payment date or, if that date is not an American Stock Exchange
          trading day, the next trading day. If the Fund should declare a
          dividend or capital gain distribution payable only in cash, the Agent
          will, as purchasing agent for the participating Shareholders, buy
          Shares in the open market, on the American Stock Exchange (the
          "Exchange") or elsewhere, for such Shareholders' accounts after the
          payment date, except that the Agent will endeavor to terminate
          purchases in the open market and cause the Fund to issue the remaining
          Shares if, following the commencement of the purchases, the market
          value of the Shares exceeds the net asset value. These remaining
          Shares will be issued by the Fund at a price equal to the Market
          Price.

               In a case where the Agent has terminated open market purchases
          and caused the issuance of remaining Shares by the Fund, the number of
          Shares received by the participant in respect of the cash dividend or
          distribution will be based on the weighted average of prices paid for
          Shares purchased in the open market and the price at which the Fund
          issues remaining Shares. To the extent that the Agent is unable to
          terminate purchases in the open market before the Agent has completed
          its purchases, or remaining Shares cannot be issued by the Fund
          because the Fund declared a dividend or distribution payable only in
          cash, and the market price exceeds the net asset value of the Shares,
          the average Share purchase price paid by the Agent may exceed the net
          asset value of the Shares, resulting in the acquisition of fewer
          Shares than if the dividend or capital gain distribution had been paid
          in Shares issued by the Fund.

               The Agent will apply all cash received as a dividend or capital
          gain distribution to purchase shares of common stock on the open
          market as soon as practicable after the payment date of the dividend
          or capital gain distribution, but in no event later than 45 days after
          that date, except when necessary to comply with applicable provisions
          of the federal securities laws.

     3. For all purposes of the Plan: (a) the Market Price of the Shares on a
particular date shall be the average of the last sale prices or, if no sale
occurred then the mean between the closing bid and asked quotations, for the
Shares on the Exchange on each of the five trading days the Shares traded
ex-dividend on the Exchange immediately prior to such date, and (b) net asset
value per share on a particular date shall be as determined by or on behalf of
the Fund.

     4. The open-market purchases provided for herein may be made on any
securities exchange on which the Shares are traded, in the over-the-counter
market or in negotiated transactions, and may be on such terms as to price,
delivery and otherwise as the Agent shall determine. Funds held by the Agent
uninvested will not bear interest, and it is understood that, in any event, the
Agent shall have no liability in connection with any inability to purchase
Shares within 45 days after the initial date of such purchase as herein
provided, or with the timing of any purchases effected. The Agent shall have no
responsibility as to the value of the Shares acquired for the Shareholder's
account.

     5. The Agent will hold Shares acquired pursuant to the Plan in
noncertificated form in the Agent's name or that of its nominee. At no
additional cost, a Shareholder participating in the Plan may send to the Agent
for deposit into its Plan account those certificate shares of the Fund in its
possession. These Shares will be combined with those unissued full and
fractional Shares acquired under the Plan and held by the Agent. Shortly
thereafter, such Shareholder will receive a statement showing its combined
holdings. The Agent will forward to the Shareholder any proxy solicitation
material and will vote any Shares so held for the Shareholder only in accordance
with the proxy returned by him or her to the Fund. Upon the Shareholder's
written request, the Agent will deliver to him or her, without charge, a
certificate or certificates for the full Shares.

     6. The Agent will confirm to the Shareholder each acquisition for his or
her account as soon as practicable but not later than 60 days after the date
thereof. Although the Shareholder may from time to time have an individual
fractional interest (computed to three decimal places) in a Share, no
certificates for fractional Shares will be issued. However, dividends and
distributions on fractional Shares will be credited to Shareholders' accounts.
In the event of a termination of a Shareholder's account under the Plan, the
Agent will adjust for any such undivided fractional interest in cash at the
opening market value of the Shares at the time of termination.

     7. Any stock dividends or split Shares distributed by the Fund on Shares
held by the Agent for the Shareholder will be credited to the Shareholder's
account. In the event that the Fund makes available to the Shareholder the right
to purchase additional Shares or other securities, the Shares held for a
Shareholder under the Plan will be added to other Shares held by the Shareholder
in calculating the number of rights to be issued by such Shareholder.

     8. The Agent's service fee for handling capital gain distributions or
income dividends will be paid by the Fund. The Shareholder will be charged a pro
rata share of brokerage commissions on all open market purchases.

     9. The Shareholder may terminate his or her account under the Plan by
notifying the Agent in writing. A termination will be effective immediately if
notice is received by the Agent at any time prior to any dividend or
distribution record date; otherwise such termination will be effective, with
respect to any subsequent dividend or distribution, on the first trading day
after a dividend paid for the record date has been credited to the Shareholder's
account. Upon any termination the Agent will cause a certificate or certificates
for the full Shares held for the Shareholder under the Plan and cash adjustment
for any fraction to be delivered to him or her.

     10. These terms and conditions may be amended or supplemented by the Agent
or the Fund at any time or times but, except when necessary or appropriate to
comply with applicable law or the rules or policies of the Securities and
Exchange Commission or any other regulatory authority, only by mailing to the
Shareholder appropriate written notice at least 30 days prior to the effective
date thereof. The amendment or supplement shall be deemed to be accepted by the
Shareholder unless, prior to the effective date thereof, the Agent receives
written notice of the termination of such Shareholder's account under the Plan.
Any such amendment may include an appointment by the Fund of a successor agent
in its place and stead under these terms and conditions, with full power and
authority to perform all or any of the acts to be performed by the Agent. Upon
any such appointment of an Agent for the purpose of receiving dividends and
distributions, the Fund will be authorized to pay to such successor Agent all
dividends and distributions payable on Shares held in the Shareholder's name or
under the Plan for retention or application by such successor Agent as provided
in these terms and conditions.

     11. In the case of Shareholders, such as banks, brokers or nominees, which
hold Shares for others who are the beneficial owners, the Agent will administer
the Plan on the basis of the number of Shares certified from time to time by the
Shareholders as representing the total amount registered in the Shareholder's
name and held for the account of beneficial owners who are to participate in the
Plan.

     12. The Agent shall at all times act in good faith and agree to use its
best efforts within reasonable limits to insure the accuracy of all services
performed under this agreement and to comply with applicable law, but assumes no
responsibility and shall not be liable for loss or damage due to errors unless
the errors are caused by its negligence, bad faith or willful misconduct or that
of its employees.

</TEXT>
</DOCUMENT>
