Aberdeen Asset Management
New York, December 19, 2005 -- Aberdeen Global Income Fund, Inc. (FCO), a closed-end bond fund, announced today that it will pay a special distribution of US 34 cents per share, in addition to its regular monthly distribution of US 6 cents per share, on January 13, 2006 to all shareholders of record as of December 30, 2005 (ex-dividend date of December 28, 2005). The special distribution includes a substantial amount of realized currency gains for the fiscal year ended October 31, 2005 which are unlikely to be of a recurring nature.
The Board's policy is to provide investors with a stable monthly distribution out of current income, supplemented by realized capital gains and, to the extent necessary, paid-in capital. This policy is subject to regular review at the Board's quarterly meetings. The next review is scheduled to take place in March 2006.
For the 12 months to November 30, 2005, the Fund has paid total distributions amounting to US 72 cents per share.
The Fund is subject to U.S. corporate, tax and securities laws. Under U.S. tax accounting rules, the amount of distributable income for each fiscal period depends on the actual exchange rates during the entire year between the U.S. dollar and the currencies in which Fund assets are denominated and on the aggregate gains and losses realized by the Fund during the entire year. Therefore, the exact amount of distributable income for each fiscal year can only be determined as of the end of the Fund's fiscal year, October 31. However, under the U.S. Investment Company Act of 1940, the Fund may be required to indicate the sources of certain distributions to shareholders.
The Fund estimates that distributions for the fiscal year commencing November 1, 2005 are comprised entirely of net investment income. This estimated distribution composition may vary from month to month because it may be materially impacted by future realized gains and losses on securities and fluctuations in the value of the currencies in which Fund assets are denominated.
In January 2006, a Form 1099 DIV will be sent to shareholders, which will state the amount and composition of distributions paid during 2005, and provide information with respect to their appropriate tax treatment. Qualifying U.S. taxpayers are generally entitled to a foreign withholding tax credit on distributions received. Shareholders will be informed as to the exact amount of the tax credit shortly after the end of the tax year.
The Fund is managed by Aberdeen Asset Management Asia Limited and advised by Aberdeen Asset Management Limited. The Fund's shares trade on the American Stock Exchange under the symbol "FCO."
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