GABELLI GLOBAL MULTIMEDIA TRUST
ANNOUNCES $0.50 PER SHARE INTERIM DISTRIBUTION

FOR IMMEDIATE RELEASE
Rye, NY
August 19, 1999
NYSE - GAB
CUSIP 36239Q109
For information:
Peter Latartara
(914) 921-5071

The Board of Directors of The Gabelli Global Multimedia Trust Inc. (NYSE - GGT), at a meeting held on August 18, 1999, authorized an interim distribution of $0.50 per share from realized capital gains payable on September 27, 1999 to shareholders of record on September 17, 1999.

It is expected that a year-end distribution will also be paid in December and will reflect all remaining income and capital gains earned during the year.

The Gabelli Global Multimedia Trust Inc. is a closed-end, non-diversified management investment company with $211 million in total assets whose primary investment objective is long-term growth of capital.