Global Income Fund Declares Quarterly Dividend

New York, New York, UNITED STATES

NEW YORK, June 2, 2003 (PRIMEZONE) -- A quarterly dividend distribution of $.09 per share for the quarter ending June 30, 2003 was declared today by Global Income Fund, Inc. (AMEX:GIF), payable June 30, 2003 to shareholders of record June 16, 2003.

The $.09 per share quarterly dividend distribution reflects a revised managed distribution policy for the Fund. The policy is intended to provide shareholders with a relatively stable cash flow and reduce or eliminate the Fund's market price discount to its net asset value per share. Distributions of approximately 7% of the Fund's net asset value per share on an annual basis will be paid primarily from ordinary income and any net capital gains, with the balance representing return of capital. The amount of the distribution may vary depending on the net asset value per share at the time of declaration.