Clough Global Allocation Fund Announces Increase in Its Quarterly Cash Distribution to $0.46 Per Share and Declares a Long-Term Capital Gain Distribution of $0.730 Per Share.DENVER -- Headline of release should read: "Clough Global Allocation Fund Announces Increase in Its Quarterly Cash Distribution to $0.46 Per Share and Declares a Long-Term Capital Gain Long-term capital gain A profit on the sale of a security or mutual fund share that has been held for more than one year. Distribution of $0.730 Per Share" (sted "...Long-Term Capital Gain Distribution of $0.80 Per Share"). Also, the first graph, second sentence, and the "Per share amount" under the table column "Long-Term Capital Gain Distribution," should read: $0.730 (sted $0.80). The corrected release reads: CLOUGH GLOBAL ALLOCATION FUND ANNOUNCES INCREASE IN ITS QUARTERLY CASH DISTRIBUTION TO $0.46 PER SHARE AND DECLARES A LONG-TERM CAPITAL GAIN DISTRIBUTION OF $0.730 PER SHARE Today, the Clough Global Allocation Fund (AMEX AMEX See: American Stock Exchange : GLV GLV Grating Light Valve GLV Golovin, AK, USA (Airport Code) GLV General License Limited Value GLV General Law Village ) announced an increase in its quarterly cash distribution to $0.46 per common share, which represents a current yield of approximately 7.7% of the Fund's net asset value and 8.8% of the Fund's market price. The Fund also declared today a long-term capital gain of $0.730 per share. The long-term capital gain is being paid in addition to the Fund's regular quarterly dividend to allow the Fund to meet its 2007 distribution requirement for federal excise tax Excise Tax 1. An indirect tax charged on the sale of a particular good. 2. A penalty tax applied to ineligible transactions in retirement accounts. This penalty is assessed by and paid to the IRS. Notes: 1. purposes. [TABLE OMITTED] The Fund has approximately $384 million in total assets, the net asset value was $23.76 per share and the market price was $20.80 as of December 19, 2007. Subject to market conditions, the Fund intends to distribute subsequent regular quarterly cash distributions. A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain Short-term capital gain A profit on the sale of a security or mutual fund share that has been held for one year or less. A short-term capital gain is taxed as ordinary income. , long-term capital gain and return of capital. The final determination of the source of all distributions in 2007 and 2008, including the percentage of qualified dividend income, will be made after year-end. The Clough Global Allocation Fund The Fund is a closed-end fund Closed-end fund An investment company that issues shares like any other corporation and usually does not redeem its shares. A publicly traded fund sold on stock exchanges or over the counter that may trade above or below its net asset value. Related: Open-end fund. with an investment objective of providing a high level of total return. It intends to achieve this objective by applying a fundamental research-driven investment process, investing in equity and equity-related securities, as well as fixed income securities, including both corporate and sovereign debt in both U.S. and non-U.S. markets. More information on the Clough Global Allocation Fund, including the Fund's dividend reinvestment plan Dividend Reinvestment Plan (DRP) Plan which provides for automatic reinvestment of shareholder dividends in more shares of a company's stock, often without commissions. Some plans provide for the purchase of additional shares at a discount to market price. , can be found at www.cloughglobal.com or call 877-256-8445. Clough Capital Partners L.P. Clough is a Boston-based investment advisory firm which manages approximately $3.3 billion in assets: Over $550 million in hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" and institutional accounts and $2.7 billion in three closed-end funds - Clough Global Allocation (GLV), Clough Global Equity (GLQ GLQ Gauss-Legendre Quadrature (numerical method) ), and the Clough Global Opportunities Fund (GLO GLO Global GLO General Land Office GLO Greek Life Office GLO General Learner Outcomes GLO GLO Lounge Orlando GLO Good Looking Organisation Ltd. (music production) GLO Get the Lead Out GLO Gospel Literature Outreach ). The firm uses a global and theme-based approach and invests in securities on a global basis. Clough was founded in 2000 by Chuck Clough and partners James Canty and Eric Brock. These three are the portfolio managers for the Clough Global Allocation Fund. An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus which contains this and other information visit www.cloughglobal.com or call 877-256-8445. Read the prospectus carefully before investing. The Clough Global Allocation Fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value. |
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