ING Clarion Global Real Estate Income Fund 'IGR' Declares Monthly Dividend for December and Announces Special Distribution

Business Wire, Dec 7, 2005

NEW YORK & PHILADELPHIA -- The Board of Directors of the ING Clarion Global Real Estate Income Fund (AMEX:IGR) (the "Trust"), which trades on the American Stock Exchange under the symbol 'IGR', today declared a normal monthly dividend of $0.115. In addition, the Board has authorized a special distribution of income and capital gains of $0.18 per common share. These dividends will be paid together as one distribution of $0.295 per share characterized as $0.125 of ordinary income and $0.17 of capital gains. The following dates apply:

Ex-Dividend Date    Record Date     Payable Date
                    ----------------    -----------     ------------
    December 2005      12-16-2005        12-20-2005      12-30-2005

The amounts identified above, like all of the distributions paid during the year, are subject to recharacterization for tax purposes. A portion of the dividends paid by REITs may be recharacterized for tax purposes following year-end as capital gain and/or return of capital. To the extent this occurs, distributions paid by the fund during the year may also be reclassified to reflect these recharacterizations. To the extent these changes do occur, they may have the effect of reducing the net investment income component of fund distributions and correspondingly increasing the return of capital component. Shareholders will receive notification in a Form 1099-DIV of the exact composition of all distributions for the year and the related tax treatment.

The Trust's primary investment objective is high current income. The Trust's secondary investment objective is capital appreciation. Under normal market conditions the Trust will invest at least 80% of its total assets in global income producing "Real Estate Securities."

ING Clarion Real Estate Securities acts as the Trust's investment advisor. ING Clarion Real Estate Securities is responsible for the Trust's portfolio assets.

ING Clarion Real Estate Securities is affiliated with ING Real Estate, one of the world's leading managers of real estate, with approximately $58 billion in assets under management around the globe.

More details on the Fund (IGR) are available at www.ingclarion.com.