RYE, N.Y.--(BUSINESS WIRE)--

The Board of Trustees of The Gabelli Global Small and Mid Cap Value Trust (NYSE:GGZ) (the “Fund”) declared an additional $0.07 per share cash distribution payable on January 6, 2017 to common shareholders of record on December 30, 2016.

This distribution is being made to minimize any Federal excise tax on undistributed investment company taxable income. The distribution will be included in 2016 income for shareholders subject to income tax. This raises the total distribution for the year to $0.12 per share.

Based on the accounting records of the Fund currently available, each of the distributions paid to common shareholders in 2016 would include approximately 58% from net investment income and 42% from net capital gains on a book basis. These percentages do not represent information for tax reporting purposes. The estimated components of each distribution are updated and provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). In addition, certain U.S. shareholders who are individuals, estates, or trusts and whose income exceeds certain thresholds will be required to pay a 3.8% Medicare surcharge on their "net investment income," which includes dividends received from the Fund and capital gains from the sale or other disposition of shares of the Fund. The final determination of the sources of all distributions in 2016 will be made after year end and can vary from the above estimates. Shareholders should not draw any conclusions about the Fund’s investment performance from the amount of the current distribution. All shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2016 distributions in early 2017 via Form 1099-DIV.

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. More information regarding these and other information about the Fund is available by calling 800-GABELLI (800-422-3554) or visiting www.gabelli.com.

The Gabelli Global Small and Mid Cap Value Trust is a diversified, closed-end management investment company with $128 million in total net assets whose primary investment objective is to achieve long term capital growth of capital. Under normal market conditions, the Fund will invest at least 80% of its total assets in equity securities (such as common stock and preferred stock) of companies with small or medium sized market capitalizations. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).

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