Clough Global Equity Fund Announces Increase in Its Quarterly Cash Distribution to $0.45 Per Share and Declares a Total Capital Gain Distribution of $0.814 Per Share.

DENVER -- Headline of release should read: Clough Global Equity Fund Announces Increase in Its Quarterly Cash Distribution to $0.45 Per Share and Declares a Total Capital Gain Distribution of $0.814 Per Share. Also, first graph, second sentence should read: "The Fund also declared today a short-term capital gain of $0.147 per share and a long-term capital gain of $0.667 per share" (sted $0.14 and $0.76, respectively). The "Per share amount" under the "Short-Term and Long-Term Capital Gains Distributions" should read: STCG $0.147 and LTCG $0.667 (sted STCG $0.14 and LTCG $0.76).

The corrected release reads:

CLOUGH GLOBAL EQUITY FUND ANNOUNCES INCREASE IN ITS QUARTERLY CASH DISTRIBUTION TO $0.45 PER SHARE AND DECLARES A TOTAL CAPITAL GAIN DISTRIBUTION OF $0.814 PER SHARE

Today, the Clough Global Equity Fund (AMEX: GLQ) announced an increase in its quarterly cash distribution to $0.45 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 short-term capital gain of $0.147 per share and a long-term capital gain of $0.667 per share. The short-term and long-term capital gains are 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 purposes.

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The Fund has approximately $662 million in total assets, the net asset value was $23.32 per share and the market price was $20.44 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, 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 Equity Fund

The Fund is a closed-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, in both U.S. and non-U.S. markets. More information on the Clough Global Equity Fund, including the Fund's dividend reinvestment plan, 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 and institutional accounts and $2.7 billion in three closed-end funds - Clough Global Allocation (GLV), Clough Global Equity (GLQ), and the Clough Global Opportunities Fund (GLO). 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 Equity 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 Equity 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.