ING Global Equity Dividend and Premium Opportunity Fund

ING Global Equity Dividend and Premium Opportunity Fund (the "Fund") (NYSE: IGD), a closed-end management investment company, today announced that ING Investment Management Advisors B.V. ("IIMA"), the Fund's sub-adviser notified the Fund that three portfolio managers from its global high dividend team -- Jorik van den Bos, Joost de Graaf and Joris Franssen -- will be leaving ING to pursue opportunities elsewhere.

IIMA announced that, effective January 19, 2006, Nicolas Simar, currently responsible for European and Euro portfolios will replace Mr. van den Bos and joined by Moudy el Khodr, will take responsibility for the equity portfolio construction of the Fund. The global equity team will continue to benefit from the extensive research capabilities of the 26 member equity sector analyst team and the 7 member quantitative research team.

Nicolas Simar. Mr. Simar has been appointed Head of the High Dividend/ Value team. He is responsible for the Euro and Europe High Dividend strategies. Mr. Simar started his career at the Banque Bruxelles Lambert in 1996 (now part of ING) as Investment Manager Fixed Income and moved three years later to the equity team to manage the Euro High Dividend strategy. He holds a degree in civil engineering from the Université Catholique de Louvain (1994) and a degree in business administration from the Institut Francais du Petrole (Paris, 1995).

Moudy El Khodr. Mr. El Khodr is responsible for the management of the global and U.S. high dividend strategies. He has been in charge of the globally investing EUR 2.4 billion Star fund since he joined ING IM. Prior to joining ING IM he was an equity fund manager at Banque Generale du Luxembourg. He started his career at the Belgian stock exchange (now Euronext Brussels) in the study and statistical department. Mr. El Khodr holds a degree in economics and is a European Certified Financial Analyst.

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SOURCE: ING US Financial Services

CONTACT: ING Funds Shareholder Services, +1-800-992-0180

Web site: http://www.ing.com/us