Clough Global Allocation Fund Declares a Quarterly Cash Distribution of $0.26 Per Share

Today, the Clough Global Allocation Fund (NYSE Alternext US: GLV) declared a quarterly cash distribution of $0.26 per common share for April 2009. The dividend will be payable on April 30, 2009, to shareholders of record on April 17, 2009.

Clough Global Allocation Fund Cash Distribution

Ex-Date: April 15, 2009Record Date: April 17, 2009Payable Date: April 30, 2009

The Fund has approximately $231 million in total assets, the net asset value was $13.91 per share and the market price was $11.30 as of April 3, 2009. Subject to market conditions, the Fund intends to distribute subsequent regular quarterly cash distributions.

Chuck Clough, founder of Clough Capital Partners and portfolio manager for the Fund notes, �The significant weakness in global financial markets in the second half of 2008 necessitates a reduction in the distribution to a level that the fund�s Board of Trustees feels should be sustainable going forward. It continues to be our intention that the distribution should reflect the changes in the Fund�s net asset value over time. We believe the Fund�s net asset value has stabilized over the past few months after seeing its low to date in November 2008. We are confident that the fund is in position to capitalize on the investment opportunities that are becoming available in global markets.�

A portion of the distribution may be treated as paid from sources other than net income, including but not limited to short-term capital gain, long-term capital gain and return of capital. The final determination of the source of all distributions in 2009, including the percentage of qualified dividend income, will be made after year-end.

The Clough Global Allocation Fund

The Fund is a closed-end fund with an investment objective of providing a high level of total return. It intends to achieve this objective by applying a fundamental research-driven investment process, investing in equity and equity-related securities, as well as fixed income securities, including both corporate and sovereign debt in both U.S. and non-U.S. markets. More information on the Clough Global Allocation Fund, including the Fund�s dividend reinvestment plan, can be found at www.cloughglobal.com or call 877-256-8445.

Clough Capital Partners L.P.

Clough is a Boston-based investment advisory firm which manages approximately $2.0 billion in assets, as of April 3, 2009: $500 million in hedge fund and institutional accounts and $1.5 billion in three closed-end funds � Clough Global Allocation (GLV), Clough Global Equity (GLQ) and the Clough Global Opportunities Fund (GLO). The firm uses a global and theme-based approach and invests in securities on a global basis. Clough was founded in 2000 by Chuck Clough and partners James Canty and Eric Brock. These three are the portfolio managers for the Clough Global Allocation Fund.

An investor should consider investment objectives, risks, charges and expenses carefully before investing. To obtain a prospectus which contains this and other information visit www.cloughglobal.com or call 877-256-8445. Read the prospectus carefully before investing.

The Clough Global Allocation Fund is a closed-end fund and closed-end funds do not continuously issue shares for sale as open-end mutual funds do. Since the initial public offering, the Fund now trades in the secondary market. Investors wishing to buy or sell shares need to place orders through an intermediary or broker. The share price of a closed-end fund is based on the market's value.

Forward-looking statements are based on information that is available on the date hereof, and neither the fund manager nor any other person affiliated with the fund manager has any duty to update any forward-looking statements. Important factors that could affect actual results to differ from these statements include, among other factors, material, negative changes to the asset class and the actual composition of the portfolio.

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