GABELLI GLOBAL MULTIMEDIA TRUST
DECLARES YEAR-END DISTRIBUTION OF $1.50 PER SHARE

FOR IMMEDIATE RELEASE
Rye, NY
December 5, 2000
NYSE - GGT
CUSIP 36239Q109
For information:
Peter Latartara
(914) 921-5071

The Board of Directors of The Gabelli Global Multimedia Trust Inc. (NYSE - GGT) declared a $1.50 per share cash distribution payable on December 26, 2000 to common stock shareholders of record on December 15, 2000.

The final determination of the long-term capital gains and ordinary income distributed in 2000 will be made after year-end. All shareholders will receive written notification regarding the components and tax treatment for all 2000 distributions in early 2001 via form 1099-DIV.

The Gabelli Global Multimedia Trust Inc. is a closed-end, non-diversified management investment company with $227 million in total assets whose primary investment objective is long term growth of capital.