/C O R R E C T I O N -- ING/

In the news release, "ING Global Equity Dividend (NYSE: IGD) and Premium
Opportunity Fund Declares Monthly Distribution and Announces Special
Distribution," issued earlier today by ING over PR Newswire, we are advised by
a representative of the company that the headline should read, "ING Global
Equity Dividend and Premium Opportunity Fund Declares Monthly Distribution"
rather than "ING Global Equity Dividend and Premium Opportunity Fund Declares
Monthly Distribution and Announces Special Distribution." The second
paragraph, first sentence should read, "The Fund intends to make regular
monthly distributions based on the past and projected performance of the Fund.
The amount of monthly distributions will vary, depending on a number of
factors" rather than "The Fund intends to make regular quarterly distributions
based on the past and projected performance of the Fund. The amount of
quarterly distributions will vary, depending on a number of factors," as
originally issued inadvertently.

------
ING Global Equity Dividend and Premium Opportunity Fund Declares Monthly
Distribution and Announces Special Distribution
SCOTTSDALE, Ariz., Jan. 15 /PRNewswire/ -- ING Global Equity Dividend and
Premium Opportunity Fund (NYSE: IGD), a closed-end management investment
company, today declared a distribution of $0.156 per share. The distribution
will be paid on February 15, 2008, to shareholders of record on February 5,
2008. The ex-dividend date is February 1, 2008.
The Fund intends to make regular quarterly distributions based on the past
and projected performance of the Fund. The amount of quarterly distributions
will vary, depending on a number of factors. As portfolio and market
conditions change, the rate of distributions on the common shares will change.
There can be no assurance that the Fund will be able to declare a distribution
in each period.
The tax treatment and characterization of the Fund's distributions may
vary significantly from time to time depending on whether the Fund has gains
or losses on the call options written on its portfolio versus gains or losses
on the equity securities in the portfolio. The Fund's distributions will
normally reflect past and projected net investment income, and may include
income from dividends and interest, capital gains and/or a return of capital.
The final tax characteristics of the distributions cannot be determined with
certainty until after the end of the year, and will be reported to
shareholders at that time.
The Fund estimates that distributions for the tax year commencing on
January 1, 2007, will be comprised of approximately 31% net investment income.
The remaining portion of the Fund's monthly distributions is estimated to come
from the Fund's covered-call option strategy, which for tax purposes, may be
treated as a combination of long-term and short-term capital gains, and/or a
return of capital. The tax character of the Fund's covered-call option
strategy is largely determined by movements in the underlying equity
portfolio. Based on the current realized appreciation in the Fund's underlying
equity portfolio, the Fund estimates that approximately 59% of the
distributions would be considered short-term capital gain and the remaining
approximately 10% would be considered long-term capital gain.
Certain statements made on behalf of the Fund in this release are forward-
looking statements. The Fund's actual future results may differ significantly
from those anticipated in any forward-looking statements due to numerous
factors, including but not limited to a decline in value in equity markets in
general or the Fund's investments specifically. Neither the Fund nor ING
undertakes any responsibility to update publicly or revise any forward-looking
statement.
ING Investments LLC, the manager of the Fund, is part of ING, a global
financial institution of Dutch origin offering banking, insurance and asset
management to over 60 million private, corporate and institutional clients in
more than 50 countries. With a diverse workforce of over 120,000 people, ING
comprises a broad spectrum of prominent companies that increasingly serve
their clients under the ING brand.
For more complete information, or to obtain a prospectus on any ING fund,
please call your Investment Professional or ING Funds Distributor, LLC at
(800) 992-0180 or log on to www.ingfunds.com. The prospectus should be read
carefully before investing. Consider the fund's investment objectives, risk,
and charges and expenses carefully before investing. The prospectus contains
this information and other information about the fund. Check with your
Investment Professional to determine which funds are available for sale within
their firm. Not all funds are available for sale at all firms.
SOURCE ING

SHAREHOLDER INQUIRIES, ING Funds Shareholder Services, +1-800-992-0180