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FOR IMMEDIATE RELEASE Rye, NY May 14, 1998 NYSE - GGT |
For information: Peter Latartara (914) 921-5071 |
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The Board of Directors of The Gabelli Global Multimedia Trust Inc. (NYSE - GGT), at a meeting held on May 13, 1998, voted to increase the authorized shares which may be repurchased to 1,000,000 shares from 750,000 shares. The share repurchase program was first announced on July 3, 1996. Since that date 596,433 shares have been repurchased.
The Trust may from time to time purchase shares of its capital stock in the open market when the shares are trading at a discount of 10% or more from the net asset value of the shares. The Gabelli Global Multimedia Trust Inc. is a closed-end, non-diversified management investment company with $160 million in total assets whose primary investment objective is long-term growth of capital.
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