Global Income Fund Declares Quarterly Dividend

NEW YORK, NY--(Marketwire - December 1, 2009) - A quarterly dividend distribution of $0.08 per share was declared today by Global Income Fund, Inc. (OTCBB: GIFD) (PINKSHEETS: GIFD), payable December 30, 2009 to shareholders of record December 15, 2009.

The $0.08 per share quarterly dividend distribution reflects the current managed distribution policy of the Fund to pay quarterly distributions of approximately 5% of the Fund's net asset value per share on an annual basis. The policy is intended to provide shareholders with a relatively stable cash flow and reduce or eliminate the Fund's market price discount to its net asset value per share. The amount of the distribution may vary depending on the net asset value per share at the time of declaration, the distribution required for the Fund to continue to qualify as a regulated investment company under the Internal Revenue Code, or a combination of both. The policy may be changed or discontinued without notice. The distributions are paid primarily from ordinary income and any net capital gains, with the balance representing return of capital.

As of the date of this press release, the majority, and possibly all, of this current distribution of $0.08 per share will be comprised of net investment income. This is only an estimate based on information available at this time and is subject to change. Actual amounts may be re-characterized for tax purposes after the Fund's fiscal year end. In January, shareholders receive information concerning the taxable status of the dividend distributions that were paid to shareholders of record in the 12 months ended December 31.

The primary investment objective of Global Income Fund, Inc. is to provide for its shareholders a high level of income, with capital appreciation as a secondary objective. The Fund pursues its investment objectives by investing primarily in a global portfolio of investment grade fixed income securities and closed end funds that invest significantly in income producing securities. The Fund is managed by CEF Advisers, Inc., a subsidiary of Winmill & Co. Incorporated, which is engaged through subsidiaries in stock market and gold investing through its investment management of equity and gold mutual funds, and closed end funds. More information about the Fund may be obtained at www.globalincomefund.net.

Contact Information: Contact: Thomas O'Malley E-mail: 1-212-344-6310, ext. 267