The Clough Global Allocation Fund Prices $95 Million in Taxable Auction Market Preferred Shares

Business Wire, Dec 6, 2004

DENVER -- The Clough Global Allocation Fund (AMEX: GLV), a closed-end fund that trades on the American Stock Exchange, priced a total of $95 million in auction market preferred shares (AMPS) on November 29, 2004, which settled on December 1, 2004.

Upon completion of the sale of the new shares, the Fund has approximately $306 million in total assets. The investment adviser for the fund is Boston-based Clough Capital Partners, L.P. The Fund's administrator is Denver, CO-based ALPS Mutual Funds Services, Inc.

The Fund's AMPS are rated "AAA" by Standard & Poor's Ratings Services and "AAA" by Fitch Ratings. The Bank of New York serves as the auction agent and the underwriter for the AMPS is Merrill Lynch, Pierce, Fenner & Smith Incorporated. AMPS may only be bought or sold through an auction or in a secondary market maintained by certain broker-dealers.

The Clough Global Allocation Fund

The Fund's investment objective is to provide a high level of total return. The Fund seeks to pursue this objective by applying a fundamental research-driven investment process and will invest in equity and equity-related securities, as well as fixed income securities, including both corporate and sovereign debt in both U.S. and non-U.S. markets. More information on the Clough Global Allocation Fund can be found at www.cloughglobal.com or call 877-256-8445.

An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus which contains this and other information visit www.cloughglobal.com or call 877-256-8445. Read the prospectus carefully before investing or sending money.