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United States : The GDL fund declares third quarter distribution of $0.16 per share

August 22, 2014

The Board of Trustees of The GDL Fund declared a $0.16 per share cash distribution payable on September 23, 2014 to common shareholders of record on September 16, 2014.

Each quarter, the Board of Trustees reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Trustees will continue to monitor the Fund s distribution level, taking into consideration the Fund s net asset value and the financial market environment. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

The Board of Trustees remains committed to delivering value through implementing positive shareholder initiatives. Since its initial public offering in January 2007, the Fund has paid cumulative cash distributions of $9.68 per share to common shareholders. In addition, the Fund can repurchase its common shares, within the applicable regulatory parameters, when the shares are trading at a discount of 7.5% or more from the net asset value. Pursuant to this share repurchase plan, through August 20, 2014, the Fund has repurchased and retired 1,066,975 common shares in the open market at an average discount of approximately 13% from its NAV.

The Fund makes annual distributions of its realized net long-term capital gains and quarterly cash distributions of all or a portion of its investment company taxable income (which includes ordinary income and net realized short-term capital gains) to common shareholders. A portion of the distribution may be a return of capital. Various factors will affect the level of the Fund s income, such as its asset mix and use of merger arbitrage strategies. To permit the Fund to maintain more stable distributions, the Fund may distribute more than the entire amount of income earned in a particular period. Because the Fund s current quarterly distributions are subject to modification by the Board of Trustees at any time and the Fund s income will fluctuate, there can be no assurance that the Fund will pay distributions at a particular rate or frequency.

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Source: TendersInfo (India)

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