Each quarter, the Board of Directors reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Directors will continue to monitor the Fund's distribution level, taking into consideration the Fund's net asset value and the current financial market environment. The Fund's distribution policy is subject to modification by the Board of Directors at any time, and there can be no guarantee that the policy will continue. Shareholders should not draw any conclusions about the Fund's investment performance from the amount of the current distribution. NYSE - GGZCUSIP - 36249W104THE GABELLI GLOBAL SMALL AND MID CAP VALUE TRUSTInvestor Relations Contact:Bethany Uhlein(914) 921-5546buhlein@gabelli.com