ING Clarion Global Real Estate Income Fund 'IGR' Declares Monthly Distribution for August

Business Wire, August 15, 2008

PHILADELPHIA -- The Board of Directors of the ING Clarion Global Real Estate Income Fund (NYSE:IGR) (the 'Fund'), which trades on the New York Stock Exchange under the symbol 'IGR', today declared a monthly distribution of $0.115 per share for the month of August 2008. The following dates apply:

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The Fund has paid total distributions of $0.92 per share to date in fiscal year 2008 (January 1, 2008 to August 31, 2008). The source of the distribution paid during the month and current fiscal year is estimated as follows:

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On August 5, 2008, ING Clarion Global Real Estate Income Fund ('the Fund'), acting in accordance with an exemptive order received from the Securities and Exchange Commission ('SEC') and with approval of its Board of Trustees, has adopted a managed distribution policy under which the Fund intends to make regular monthly cash distributions to common shareholders, stated in terms of a fixed amount per common share. With this new policy the Fund can now include long-term capital gains in its distribution as frequently as twelve times a year. In practice, the Board of Trustees views their approval of this policy as a potential means of further supporting the market price of the Fund through the payment of a steady and predictable level of cash distributions to shareholders. Shareholders should note that the Fund's total regular distribution amount is subject to change as a result of market conditions or other factors.

Shareholders should not draw any conclusions about the Fund's investment performance from the amount of this distribution or from the terms of the Fund's managed distribution policy. Please note that all performance figures below are based on the Fund's net asset value ('NAV') and not the market price of the Fund's shares. Performance figures are not meant to represent individual shareholder performance.

The Fund's cumulative year-to-date total return for fiscal year 2008 (January 1, 2008 through July 31, 2008) is set forth below. Shareholders should take note of the relationship between the Year-to-date Cumulative Total Return and the Year-to-date change in the Fund's NAV (during the same period) and compare those figures with the Fund's Cumulative Distribution Rate for 2008. Moreover, the Fund's Average Annual Total Return from its inception (February 24, 2004) through July 31, 2008 is set forth below. Shareholders should take note of the relationship between the Average Annual Total Return, the annualized change in the Fund's NAV per share (during the same period) and compare those figures with the Fund's current annualized distribution rate for 2008 and it's Average Annual Distribution Rate. In addition, the performance and distribution rate information disclosed in the table below is based on the Fund's NAV. The Fund's NAV is calculated as the total market value of all the securities and other assets held by the Fund minus the total liabilities, divided by the total number of common shares outstanding. While NAV performance may be indicative of the Fund's investment performance, it does not measure the value of a shareholders individual investment in the Fund. The value of a shareholder's investment in the Fund is determined by the Fund's market price, which is based on the supply and demand for the Fund's shares in the open-market. Shareholders holding Fund shares indirectly with a broker dealer should contact their financial advisor regarding the market price performance of their investment in the Fund.

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Please refer to the chart below for information about the Fund's historical NAVs, change in NAVs, total returns, and distributions paid.

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Shareholders should be aware that the sources of Fund distributions described above are estimates. The source of all distributions paid by the Fund, including net investment income, is subject to change. This is because the Fund invests primarily in real estate investment trusts (REITs) and similar companies. When these companies make distributions to the Fund during the year, they provide the Fund with an estimate as to the source of those distributions (i.e., net investment income, net realized capital gains and/or return of capital). The Fund uses the estimates provided by the companies to provide you with estimated sources of distributions paid to you. Until the Fund receives a final determination from these companies as to the source of distributions - generally around January 31 of the following year - the Fund cannot provide you with a final determination of the source of distributions paid.

As noted above, the amounts and sources of distributions reported are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for accounting and tax reporting purposes will depend upon the Fund's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations.

SHAREHOLDERS SHOULD NOT USE THE INFORMATION PROVIDED IN PREPARING THEIR TAX RETURNS. SHAREHOLDERS WILL RECEIVE A FORM 1099-DIV FOR THE CALENDAR YEAR INDICATING HOW TO REPORT FUND DISTRIBUTIONS FOR FEDERAL INCOME TAX PURPOSES.