Set forth below is the allocation of net investment income, short-term capital gains and long-term capital gains for the 1998 annual distributions of The Gabelli Global Multimedia Trust Inc.

If there are any questions, please contact Peter Latartara or Marc Diagonale at (914) 921-5070.

$ PER SHARE   1st Qtr 2nd Qtr 3rd Qtr 4th Qtr TOTAL Record Date ---- 06/19/98 09/21/98 12/18/98   Payment Date ---- 06/26/98 09/28/98 12/28/98   SOURCE Net Investment Income (a) $0.0000 $0.0000 $0.0000 $0.0000 $0.0000 Short-Term Capital Gains (a) $0.0000 $0.2468 $0.1234 $0.1234 $0.4936 Long-Term Capital Gains (b) $0.0000 $0.7432 $0.3716 $0.3716 $1.4864 TOTAL $0.0000 $0.9900 $0.4950 $0.4950 $1.9800   PERCENTAGES SOURCE 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr TOTAL Net Investment Income (a) ---- 0.00% 0.00% 0.00% 0.00% Short-Term Capital Gains (a) ---- 24.93% 24.93% 24.93% 24.93% Long-Term Capital Gains (b) ---- 75.07% 75.07% 75.07% 75.07% TOTAL ---- 100.00% 100.00% 100.00% 100.00%

100% of the long-term capital gains paid by the Gabelli Equity Trust in 1998 was classified as "20% Rate Gains" subject to a maximum tax rate of 20% (or 10% depending on an individual's tax bracket). Capital gain distributions are reported in box 2a of Form 1099-DIV.

U.S. GOVERNMENT INCOME:

The percentage of the ordinary income paid by the Gabelli Global Multimedia Trust in 1998 that was derived from U.S. Government Securities was 21.97%. The percentage of U.S. Government Securities held as of December 31, 1998 was 1.70%.(c)

(a)Distributions from net investment income and short-term capital gains are taxable as ordinary income and will appear on your Form 1099-DIV under Ordinary Income Distributions.
(b)Taxable as long-term capital gains reportable in column (f), line 13 on Form 1040, Schedule D. Since there were no retained capital gains in 1998, Form 2439 will not be necessary.
(c)Certain states require that 50% of the Fund's portfolio be invested in U.S. Government Securities at the end of each calendar quarter to allow "pass-through" treatment of income derived from U.S. Government Securities. The Fund did not meet this strict requirement in 1998.