Under the Gabelli Global Utility & Income Trust's distribution policy, the Trust pays a minimum annual distribution of 6% of the initial public offering price of $20.00 per share. Pursuant to this policy, the Trust pays $0.10 per share in the first eleven months of the year and an adjusting distribution in December which includes, if necessary, any additional income and net realized capital gains in excess of the monthly distributions for that year to satisfy the minimum distribution requirements of the Internal Revenue Code. Each quarter, the Board of Trustees reviews the amount of any potential distribution and the income, capital gains or capital available. The Trust's distribution policy is subject to modification by the Board of Trustees at any time.

The distribution for July 2006 will be payable on July 25, 2006 to shareholders of record on July 17, 2006.

The distribution for August 2006 will be payable on August 25, 2006 to shareholders of record on August 17, 2006.

The distribution for September 2006 will be payable on September 25, 2006 to shareholders of record on September 15, 2006.

A portion of the distribution may be treated as long-term capital gain and qualified dividend income for individuals, each subject to the maximum Federal income tax rate, which is currently 15% in taxable accounts for individuals. If the Trust does not generate earnings from dividends, interest and net realized capital gains equal to or in excess of the aggregate distributions paid by the Trust for the year, then the amount distributed in excess of the Trust's investment income and net realized capital gains will be deemed a non-taxable return of capital.

Long-term capital gains, qualified dividend income, ordinary income and paid-in capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. As of May 17, 2006, the date of this press release, the current distribution would include approximately 51% from net investment income, 22% from net capital gains and 27% from paid-in capital. The estimated components of each distribution are provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). The final determination of the sources of all distributions in 2006 will be made after year-end. All shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2006 distributions in early 2007 via Form 1099-DIV.

The Gabelli Global Utility & Income Trust is a non-diversified, closed-end management investment company with $65 million in total assets whose primary investment objective is to seek a consistent level of after-tax total return over the long-term with an emphasis currently on tax-advantaged dividend income under current tax law. The Trust is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL), which is a publicly traded NYSE listed company.