GABELLI GLOBAL MULTIMEDIA TRUST
DECLARES A DISTRIBUTION OF $0.06 PER SHARE

FOR IMMEDIATE RELEASE
Rye, NY
February 21, 2001
NYSE - GGT
CUSIP 36239Q109
For information:
Brandon McCue
(914) 921-5071

The Board of Directors of The Gabelli Global Multimedia Trust Inc. (NYSE - GGT) authorized a final 2000 distribution of $0.06 per share payable on March 23, 2001 to shareholders of record on March 15, 2001.

$0.043 per share of the distribution is composed of long-term capital gains and is designated as a "capital gain" distribution. The remaining portion of the distribution is treated as ordinary income for federal income tax purposes and consists of $0.011 per share of short-term capital gains and $0.006 per share of investment income.

The Gabelli Global Multimedia Trust Inc. is a closed-end, non-diversified management investment company with $215 million in total assets whose primary investment objective is long-term growth of capital.