Edgar Filing: GABELLI GLOBAL MULTIMEDIA TRUST INC

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange
Act of 1934 (Amendment No. ___)

Filed by Registrant [ X ]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)
(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Sec. 240.14a-11(c) or Sec. 240.14a-12

THE GABELLI GLOBAL MULTIMEDIA TRUST INC.

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):
[X] No fee required
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

1) Title of each class of securities to which transaction applies:

2) Aggregate number of securities to which transaction applies:

3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
filing fee is calculated and state how it was determined):

4) Proposed maximum aggregate value of transaction:

5) Total fee paid:

[ ] Fee paid previously with preliminary materials.

[ ] Check box if any part of the fee is offset as provided by Exchange Act
Rule 0-11(a)(2) and identify the filing for which the offsetting fee was
paid previously. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing.

1) Amount Previously Paid:

2) Form, Schedule or Registration Statement No.:

3) Filing Party:

4) Date Filed:

THE GABELLI GLOBAL MULTIMEDIA TRUST INC.

One Corporate Center
Rye, New York 10580-1422
(914) 921-5070

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NOTICE OF ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON MAY 9, 2005

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To the Shareholders of
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.

Notice is hereby given that the Annual Meeting of Shareholders (the
"Meeting") of The Gabelli Global Multimedia Trust Inc. (the "Trust") will be
held at The Round Hill Room, Hyatt Regency Greenwich, 1800 East Putnam Avenue,
Old Greenwich, Connecticut 06870, on Monday, May 9, 2005, at 10:00 a.m., for the
following purposes:

1. To elect three (3) Directors of the Trust, by the holders of the
Trust's Common Stock and holders of its 6.00% Series B Cumulative
Preferred Stock and Series C Auction Rate Cumulative Preferred Stock
("Preferred Stock"), voting together as a single class (PROPOSAL 1);
and

2. To consider and vote upon such other matters, including
adjournments, as may properly come before said Meeting or any
adjournments thereof.

These items are discussed in greater detail in the attached Proxy
Statement.

The close of business on March 1, 2005 has been fixed as the record date
for the determination of shareholders entitled to notice of and to vote at the
Meeting and any adjournments thereof.

YOUR VOTE IS IMPORTANT REGARDLESS OF THE SIZE OF YOUR HOLDINGS IN THE
TRUST. WHETHER OR NOT YOU PLAN TO ATTEND THE MEETING, WE ASK THAT YOU PLEASE
COMPLETE, SIGN AND DATE THE ENCLOSED PROXY CARD AND RETURN IT PROMPTLY IN THE
ENCLOSED ENVELOPE WHICH NEEDS NO POSTAGE IF MAILED IN THE UNITED STATES.
INSTRUCTIONS FOR THE PROPER EXECUTION OF PROXIES ARE SET FORTH ON THE INSIDE
COVER.

By Order of the Board of Directors,

JAMES E. MCKEE
SECRETARY
April 15, 2005

INSTRUCTIONS FOR SIGNING PROXY CARDS

The following general rules for signing proxy cards may be of assistance
to you and avoid the time and expense to the Trust involved in validating your
vote if you fail to sign your proxy card properly.

1. INDIVIDUAL ACCOUNTS: Sign your name exactly as it appears in the
registration on the proxy card.

2. JOINT ACCOUNTS: Either party may sign, but the name of the party
signing should conform exactly to the name shown in the registration.

3. ALL OTHER ACCOUNTS: The capacity of the individuals signing the proxy
card should be indicated unless it is reflected in the form of registration. For
example:

REGISTRATION VALID SIGNATURE
------------ ---------------

CORPORATE ACCOUNTS

(1) ABC Corp. ABC Corp.
(2) ABC Corp. John Doe, Treasurer
(3) ABC Corp.
c/o John Doe, Treasurer John Doe
(4) ABC Corp., Profit Sharing Plan John Doe, Trustee

TRUST ACCOUNTS

(1) ABC Trust Jane B. Doe, Trustee
(2) Jane B. Doe, Trustee
u/t/d 12/28/78 Jane B. Doe

CUSTODIAN OR ESTATE ACCOUNTS

(1) John B. Smith, Cust.
f/b/o John B. Smith, Jr. UGMA John B. Smith
(2) John B. Smith, Executor
Estate of Jane Smith John B. Smith, Executor

TELEPHONE/INTERNET VOTING

Various brokerage firms may offer the convenience of providing your voting
instructions via telephone or the Internet for shares held through such firms.
If available, instructions are included with this Proxy Statement and proxy
card.

THE GABELLI GLOBAL MULTIMEDIA TRUST INC.

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ANNUAL MEETING OF SHAREHOLDERS

MAY 9, 2005

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PROXY STATEMENT

This Proxy Statement is furnished in connection with the solicitation of
proxies by the Board of Directors of The Gabelli Global Multimedia Trust Inc.
(the "Trust") for use at the Annual Meeting of Shareholders of the Trust to be
held on Monday, May 9, 2005, at 10:00 a.m., at The Round Hill Room, Hyatt
Regency Greenwich, 1800 East Putnam Avenue, Old Greenwich, Connecticut 06870,
and at any adjournments thereof (the "Meeting"). A Notice of Annual Meeting of
Shareholders and proxy card accompany this Proxy Statement, all of which are
first being mailed to shareholders on or about April 15, 2005.

In addition to the solicitation of proxies by mail, officers of the Trust
and officers and regular employees of EquiServe Trust Company N.A.
("EquiServe"), the Trust's transfer agent, and affiliates of EquiServe or other
representatives of the Trust also may solicit proxies by telephone, telegraph,
Internet or in person. In addition, the Trust has retained The Altman Group,
Inc. to assist in the solicitation of proxies for a minimum fee of $2,500 plus
reimbursement of expenses. The costs of the proxy solicitation and the expenses
incurred in connection with preparing the Proxy Statement and its enclosures
will be paid by the Trust. The Trust will also reimburse brokerage firms and
others for their expenses in forwarding solicitation materials to the beneficial
owners of its shares.

THE TRUST'S MOST RECENT ANNUAL REPORT, INCLUDING AUDITED FINANCIAL
STATEMENTS FOR THE FISCAL YEAR ENDED DECEMBER 31, 2004, IS AVAILABLE UPON
REQUEST, WITHOUT CHARGE, BY WRITING TO THE TRUST AT ONE CORPORATE CENTER, RYE,
NEW YORK 10580-1422, BY CALLING THE TRUST AT 800-422-3554 OR VIA THE INTERNET AT
WWW.GABELLI.COM.

If the enclosed proxy is properly executed and returned in time to be
voted at the Meeting, the Shares (as defined below) represented thereby will be
voted "FOR" the election of the nominees as Directors listed in the accompanying
Notice of Annual Meeting of Shareholders, unless instructions to the contrary
are marked thereon, and in the discretion of the proxy holders as to the
transaction of any other business that may properly come before the Meeting. Any
shareholder who has given a proxy has the right to revoke it at any time prior
to its exercise either by attending the Meeting and voting his or her shares in
person or by submitting a letter of revocation or a later-dated proxy to the
Trust at the above address prior to the date of the Meeting.

A quorum of shareholders is constituted by the presence in person or by
proxy of the holders of a majority of the outstanding shares of the Trust
entitled to vote at the Meeting. In the event a quorum is not present at the
Meeting, or in the event that a quorum is present at the Meeting but sufficient
votes to approve any of the proposed items are not received, the persons named
as proxies may propose one or more adjournments of such Meeting to permit
further solicitation of proxies. A shareholder vote may be taken on one or more
of the proposals in this Proxy Statement prior to such adjournment if sufficient
votes have been received for approval and it is otherwise appropriate. Any such
adjournment will require the affirmative vote of a majority of those shares
present at the Meeting in person or by proxy. If a quorum is present, the
persons named as proxies will vote those proxies which they are entitled to vote
"FOR" any proposal in favor of such adjournment and will vote those proxies
required to be voted "AGAINST" any proposal against such adjournment. Absent the
establishment of a subsequent record date and the giving of notice to the
holders of record thereon, the adjourned Meeting must take place not more than
120 days after the record date. At such adjourned Meeting, any business may be
transacted which might have been transacted at the original Meeting. If a quorum
is present, a shareholder vote may be taken on one or more of the proposals
properly brought before the Meeting prior to any adjournment if sufficient votes
have been received and it is otherwise appropriate.

The close of business on March 1, 2005 has been fixed as the record date
for the determination of shareholders entitled to notice of and to vote at the
Meeting and all adjournments thereof.

The Trust has two classes of capital stock: common stock, par value $0.001
per share (the "Common Stock") and preferred stock consisting of (i) 6.00%
Series B Cumulative Preferred Stock ("Series B Preferred") and (ii) Series C
Auction Rate Cumulative Preferred Stock ("Series C Preferred"), each having a
par value of $0.001 per share (together, the "Preferred Stock") and (together
with the Common Stock, the "Shares"). The holders of the Common Stock and
Preferred Stock are each entitled to one vote for each full share and an
appropriate fraction of a vote for each fractional share held. On the record
date, March 1, 2005, there were 14,170,253 shares of Common Stock, 993,100
shares of Series B Preferred Stock and 1,000 shares of Series C Preferred Stock
outstanding.

As of the record date, there were no persons known to the Trust to be
beneficial owners of more than 5% of the Trust's outstanding shares of Common
Stock or Preferred Stock.

SUMMARY OF VOTING RIGHTS ON PROXY PROPOSALS

PROPOSAL COMMON STOCKHOLDERS PREFERRED STOCKHOLDERS
-------- ------------------- ----------------------

1. Election of Common and Preferred Stockholders, Common and Preferred Stockholders,
Directors voting together as a single class, voting together as a single class,
vote to elect three Directors: vote to elect three Directors:
Frank J. Fahrenkopf, Jr. Frank J. Fahrenkopf, Jr.
Werner J. Roeder, MD Werner J. Roeder, MD
Salvatore J. Zizza Salvatore J. Zizza

2. Other Business Common and Preferred Stockholders, voting together as a single class

In order that your Shares may be represented at the Meeting, you are requested
to vote on the following matters:

PROPOSAL 1: TO ELECT THREE (3) DIRECTORS OF THE TRUST

NOMINEES FOR THE BOARD OF DIRECTORS

The Board of Directors is divided into three classes, each class having a
term of three years. Each year the term of office of one class will expire.
Frank J. Fahrenkopf, Jr., Werner J. Roeder, MD, and Salvatore J. Zizza have each
been nominated by the Board of Directors for a three year term to expire at the
Trust's 2008 Annual Meeting of Shareholders or until their successors are duly
elected and qualified. Each of the Directors of the Trust has served in that
capacity since the April 6, 1994 organizational meeting of the Trust with the
exception of (i) Mr. Fahrenkopf, who became a Director of the Trust on August
18, 1999, (ii) Dr. Roeder, who became a Director of the Trust on November 17,
1999 and (iii) Mr. Colavita, who became a Director of the Trust on August 15,
2001. All of the Directors of the Trust are also directors or trustees of other
investment companies for which Gabelli Funds, LLC (the "Adviser") or its
affiliates serve as investment adviser. The classes of Directors are indicated
below:

NOMINEES TO SERVE UNTIL 2008 ANNUAL MEETING OF SHAREHOLDERS
Frank J. Fahrenkopf, Jr.
Werner J. Roeder, MD
Salvatore J. Zizza

DIRECTORS SERVING UNTIL 2007 ANNUAL MEETING OF SHAREHOLDERS
Mario J. Gabelli, CFA
Dr. Thomas E. Bratter
Anthony J. Colavita

DIRECTORS SERVING UNTIL 2006 ANNUAL MEETING OF SHAREHOLDERS
James P. Conn
Karl Otto Pohl
Anthony R. Pustorino, CPA

Under the Trust's Articles of Incorporation, Articles Supplementary and
the Investment Company Act of 1940, as amended (the "1940 Act"), holders of the
Trust's outstanding Preferred Stock, voting as a separate class, are entitled to
elect two Directors, and holders of the Trust's outstanding Common Stock and
Preferred Stock, voting as a single class, are entitled to elect the remaining
Directors, subject to the provisions of the 1940 Act and the Trust's Articles of
Incorporation, Articles Supplementary and By-Laws. The holders of the Trust's
outstanding Preferred Stock would be entitled to elect the minimum number of
additional Directors that would represent a majority of the Directors in the
event that dividends on the Trust's Preferred Stock are in arrears for two full
years. No dividend arrearages exist as of the date of this Proxy Statement.
Messrs. Colavita and Conn are currently the Directors elected solely by the
holders of the Trust's Preferred Stock and are not up for election at this
meeting.

Unless authority is withheld, it is the intention of the persons named in
the proxy to vote the proxy "FOR" the election of the nominees named above. Each
nominee has indicated that he has consented to serve as a Director if elected at
the Meeting. If a designated nominee declines or otherwise becomes unavailable
for election, however, the proxy confers discretionary power on the persons
named therein to vote in favor of a substitute nominee or nominees.

INFORMATION ABOUT DIRECTORS AND OFFICERS

Set forth in the table below are the existing Directors and Nominees for
election to the Board of the Trust and officers of the Trust, including
information relating to their respective positions held with the Trust, a brief
statement of their principal occupations during the past five years and other
directorships, if any.

TERM OF NUMBER OF
OFFICE AND PORTFOLIOS IN
NAME, POSITION(S) LENGTH OF FUND COMPLEX
ADDRESS(1) TIME PRINCIPAL OCCUPATION(S) OTHER DIRECTORSHIPS OVERSEEN
AND AGE SERVED(2) DURING PAST FIVE YEARS HELD BY DIRECTOR BY DIRECTOR
------- --------- ---------------------- ---------------- -----------

INTERESTED DIRECTORS(3):
------------------------
MARIO J. GABELLI Since 1994*** Chairman of the Board, Chief Director of Morgan Group 24
Director and Executive Officer of Gabelli Asset Holdings, Inc. (holding
Chief Investment Officer Management Inc. and Chief company)
Age: 62 Investment Officer-Value Portfolios
of Gabelli Funds, LLC and GAMCO
Investors, Inc.; Chairman and Chief
Executive Officer of Lynch Interactive
Corporation (multimedia and services)

KARL OTTO POHL Since 1994** Member of the Shareholder Director of Gabelli Asset 35
Director Committee of Sal. Oppenheim Jr. & Management Inc.; Chairman of
Age: 75 Cie (Zurich) (private investment bank); InCentive Capital AG and
Former President of the Deutsche InCentive Asset Management AG
Bundesbank and Chairman of its (Zurich); Director of Sal.
Central Bank Council (1980-1991) Oppenheim Jr. & Cie (Zurich)
(private investment bank)

NON-INTERESTED DIRECTORS/NOMINEES:
----------------------------------
DR. THOMAS E. BRATTER Since 1994*** Director, President and Founder of -- 3
Director The John Dewey Academy
Age: 65 (residential college preparatory
therapeutic high school)

ANTHONY J. COLAVITA(4) Since 2001*** Partner in the law firm of Anthony J. -- 37
Director Colavita, P.C.
Age: 69

JAMES P. CONN(4) Since 1994** Former Managing Director and Director of LaQuinta Corp. 14
Director Chief Investment Officer of (hotels) and First Republic Bank
Age: 67 Financial Security Assurance
Holdings Ltd. (insurance
holding company) (1992-1998)

FRANK J. FAHRENKOPF, JR. Since 1999* President and Chief Executive Director of First Republic Bank 5
Director Officer of the American Gaming
Age: 65 Association; Partner in the law firm
of Hogan & Hartson; Co-Chairman
of the Commission on Presidential
Debates; Former Chairman of the
Republican National Committee

ANTHONY R. PUSTORINO Since 1994** Certified Public Accountant; Director of Lynch Corporation 17
Director Professor Emeritus, Pace University (diversified manufacturing)
Age: 79

WERNER J. ROEDER, MD Since 1999* Medical Director of Lawrence -- 26
Director Hospital and practicing private
Age: 64 physician

SALVATORE J. ZIZZA Since 1994* Chairman of Hallmark Electrical Director of Hollis Eden 25
Director Supplies Corp. Pharmaceuticals and
Age: 59 Earl Scheib, Inc.
(automotive services)

TERM OF
OFFICE AND
NAME, POSITION(S) LENGTH OF
ADDRESS(1) TIME PRINCIPAL OCCUPATION(S)
AND AGE SERVED DURING PAST FIVE YEARS
------- ------ ----------------------

OFFICERS:
---------

BRUCE N. ALPERT Since 2003 Executive Vice President and Chief Operating Officer of Gabelli Funds, LLC since
President and Treasurer 1988; Director and President of Gabelli Advisers, Inc. since 1998; Officer of
Age: 53 all the registered investment companies in the Gabelli fund complex.

PETER D. GOLDSTEIN Since 2004 Director of Regulatory Affairs for Gabelli Asset Management Inc. since 2004;
Chief Compliance Officer Chief Compliance Officer of all the registered investment companies in the
Age: 51 Gabelli fund complex. Vice President of Goldman Sachs Asset Management from
2000-2004; Deputy General Counsel of Gabelli Asset Management Inc. from
1998-2000.

LAURISSA M. MARTIRE Since 2004 Vice President of The Gabelli Convertible and Income Securities Fund Inc. since
Vice President and Ombudsman 2004; Assistant Vice President of GAMCO Investors, Inc. since 2003; Sales
Age: 28 Assistant for GAMCO Investors, Inc. prior to 2003.

JAMES E. MCKEE Since 1995 Vice President, General Counsel and Secretary of Gabelli Asset Management Inc.
Secretary since 1999 and GAMCO Investors, Inc. since 1993; Secretary of all the registered
Age: 41 investment companies advised by Gabelli Advisers, Inc. and Gabelli Funds, LLC.

LOAN P. NGUYEN Since 2004 Portfolio Administrator for Gabelli Funds, LLC during 2004. Student at Boston
Vice President and Ombudsman College prior to 2004.
Age: 22

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(1) Address:One Corporate Center, Rye, NY 10580-1422, unless otherwise noted.

(2) The Trust's Board of Directors is divided into three classes, each class
having a term of three years. Each year the term of office of one class
expires and the successor or successors elected to such class serve for a
three year term.

* Nominee to serve, if elected, until the Trust's 2008 Annual Meeting
of Shareholders and until his successor is duly elected and
qualified.

** Term continues until the Trust's 2006 Annual Meeting of Shareholders
and until his successor is duly elected and qualified.

*** Term continues until the Trust's 2007 Annual Meeting of Shareholders
and until his successor is duly elected and qualified.

(3) "Interested person" of the Trust as defined in the 1940 Act. Messrs.
Gabelli and Pohl are each considered an "interested person" of the Trust
because of their affiliation with Gabelli Funds, LLC, which acts as the
Trust's investment adviser, as officers or directors of other Gabelli
Funds or an affiliated entity (and in the case of Mr. Gabelli, as a
controlling shareholder).

(4) As a Director, elected solely by the holders of the Trust's Preferred
Stock.

BENEFICIAL OWNERSHIP OF SHARES HELD IN THE TRUST AND THE FUND COMPLEX FOR EACH
DIRECTOR AND NOMINEE FOR ELECTION AS DIRECTOR

Set forth in the table below is the dollar range of equity securities in
the Trust beneficially owned by each Director and Nominee for election as
Director and the aggregate dollar range of equity securities in the Fund complex
beneficially owned by each Director and each Nominee for election as Director.

NAME OF DIRECTOR/NOMINEE DOLLAR RANGE OF EQUITY AGGREGATE DOLLAR RANGE OF EQUITY
SECURITIES HELD SECURITIES HELD
IN THE TRUST*(1) IN FUND COMPLEX*(1) (2)

INTERESTED DIRECTORS:
---------------------

Mario J. Gabelli E E

Karl Otto Pohl A A

NON-INTERESTED DIRECTORS/NOMINEES:
----------------------------------

Dr. Thomas E. Bratter C E

Anthony J. Colavita** C E

James P. Conn E E

Frank J. Fahrenkopf, Jr. A B

Anthony R. Pustorino** D E

Werner J. Roeder, MD A E

Salvatore J. Zizza D E

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* KEY TO DOLLAR RANGES
A. None
B. $1 - $10,000
C. $10,001 - $50,000
D. $50,001 - $100,000
E. Over $100,000

All shares were valued as of December 31, 2004.

** Messrs. Colavita and Pustorino each beneficially own less than 1% of
the common stock of Lynch Corporation, each having a value of
$14,500 as of December 31, 2004. Lynch Corporation may be deemed to
be controlled by Mario J. Gabelli and in that event would be deemed
to be under common control with the Trust's Adviser.

(1) This information has been furnished by each Director and Nominee for
election as Director as of December 31, 2004. "Beneficial Ownership"
is determined in accordance with Section 16a-1(a)(2) of the
Securities Exchange Act of 1934, as amended (the "1934 Act").

(2) The "Fund Complex" includes all Funds that are considered part of
the same fund complex as the Trust because they have common or
affiliated investment advisers.

Set forth in the table below is the amount of shares beneficially owned by
each Director and Officer of the Trust.

AMOUNT AND NATURE OF PERCENT OF SHARES
NAME OF DIRECTOR/NOMINEE BENEFICIAL OWNERSHIP(1) OUTSTANDING(2)
------------------------ ----------------------- --------------

INTERESTED DIRECTORS:
---------------------

Mario J. Gabelli 495,725(3) 3.5%
Karl Otto Pohl 0 *

NON-INTERESTED DIRECTORS/NOMINEES:
----------------------------------

Dr. Thomas E. Bratter 1,521 *
Anthony J. Colavita 2,500(4) *
James P. Conn 15,986 *
1,000 Series B Preferred Stock *
Frank J. Fahrenkopf, Jr. 0 *
Anthony R. Pustorino 2,519(5) *
1,000 Series B Preferred Stock *
Werner J. Roeder, MD 0 *
Salvatore J. Zizza 7,557(6) *
3,000 Series B Preferred Stock(7) *

(1) This information has been furnished by each Director and Nominee for
election as Director as of December 31, 2004. "Beneficial Ownership" is
determined in accordance with Section 16a-1(a)(2) of the 1934 Act.
Reflects ownership of Common Stock unless otherwise noted.

(2) An asterisk indicates that the ownership amount constitutes less than 1%
of the total shares outstanding.

(3) Includes 202,605 shares owned directly by Mr. Gabelli, 8,003 shares owned
by a family partnership for which Mr. Gabelli serves as general partner,
2,000 shares held by custodial accounts for which Mr. Gabelli serves as
Trustee and 283,117 shares owned by Gabelli Asset Management Inc. or its
affiliates. Mr. Gabelli disclaims beneficial ownership of the shares held
by custodial accounts, the discretionary accounts, and by the entities
named except to the extent of his interest in such entities.

(4) Comprised of 2,500 shares owned by his spouse.

(5) Includes 554 shares owned by his spouse for which he disclaims beneficial
ownership.

(6) Includes 5,335 common shares owned by Mr. Zizza's sons.

(7) Includes 3,000 preferred shares owned by Mr. Zizza's sons.

The Trust pays each Director who is not affiliated with the Adviser or its
affiliates a fee of $6,000 per year plus $500 per meeting attended in person and
by telephone, including Committee meetings, together with the Director's actual
out-of-pocket expenses relating to their attendance at such meetings. In
addition, the Audit Committee Chairman receives an annual fee of $3,000 and the
Nominating Committee Chairman receives an annual fee of $2,000. The aggregate
remuneration (not including out-of-pocket expenses) paid by the Trust to such
Directors during the year ended December 31, 2004, amounted to $68,000. During
the year ended December 31, 2004, the Directors of the Trust met five times, one
of which was a special meeting of Directors. Each Director then serving in such
capacity attended at least 75% of the meetings of Directors and of any Committee
of which he is a member.

AUDIT COMMITTEE REPORT

The role of the Trust's Audit Committee is to assist the Board of
Directors in its oversight of (i) the quality and integrity of the Trust's
financial statement reporting process and the independent audit and reviews
therof; (ii) the Trust's accounting and financial reporting policies and
practices, its internal controls and, as appropriate, the internal controls of
certain of its service providers; (iii) the Trust's compliance with legal and
regulatory requirements; and (iv) the independent registered public accounting
firm's qualifications, independence and performance. The Audit Committee also is
required to prepare an audit committee report pursuant to the rules of the
Securities and Exchange Commission (the "SEC") for inclusion in the Trust's
annual proxy statement. The Audit Committee operates pursuant to the Audit
Committee Charter (the "Charter") that was most recently reviewed and approved
by the Board of Directors on February 16, 2005.

Pursuant to the Charter, the Audit Committee is responsible for conferring
with the Trust's independent registered public accounting firm, reviewing annual
financial statements, approving the selection of the Trust's independent
registered public accounting firm and overseeing the Trust's internal controls.
The Charter also contains provisions relating to the pre-approval by the Audit
Committee of certain non-audit services to be provided by PricewaterhouseCoopers
LLP ("PricewaterhouseCoopers") to the Trust and to the Adviser and certain of
its affiliates. The Audit Committee advises the full Board with respect to
accounting, auditing and financial matters affecting the Trust. As set forth in
the Charter, management is responsible for maintaining appropriate systems for
accounting and internal control, and the Trust's independent registered public
accounting firm is responsible for planning and carrying out proper audits and
reviews. The independent registered public accounting firm is ultimately
accountable to the Board of Directors and to the Audit Committee, as
representatives of shareholders. The independent registered public accounting
firm for the Trust reports directly to the Audit Committee.

In performing its oversight function, at a meeting held on February 11,
2005, the Audit Committee reviewed and discussed with management of the Trust
and PricewaterhouseCoopers the audited financial statements of the Trust as of
and for the fiscal year ended December 31, 2004, and discussed the audit of such
financial statements with the independent registered public accounting firm.

In addition, the Audit Committee discussed with the independent registered
public accounting firm the accounting principles applied by the Trust and such
other matters brought to the attention of the Audit Committee by the independent
registered public accounting firm required by Statement of Auditing Standards
No. 61, COMMUNICATIONS WITH AUDIT COMMITTEES, as currently modified or
supplemented. The Audit Committee also received from the independent registered
public accounting firm the written disclosures and statements required by the
SEC's independence rules, delineating relationships between the independent
registered public accounting firm and the Trust and discussed the impact that
any such relationships might have on the objectivity and independence of the
independent registered public accounting firm.

As set forth above, and as more fully set forth in the Charter, the Audit
Committee has significant duties and powers in its oversight role with respect
to the Trust's financial reporting procedures, internal control systems and the
independent audit process.

The members of the Audit Committee are not, and do not represent
themselves to be, professionally engaged in the practice of auditing or
accounting and are not employed by the Trust for accounting, financial
management or internal control purposes. Moreover, the Audit Committee relies on
and makes no independent verification of the facts presented to it or
representations made by management or independent verification of the facts
presented to it or representations made by management or the Trust's independent
registered public accounting firm. Accordingly, the Audit Committee's oversight
does not provide an independent basis to determine that management has
maintained appropriate accounting and/or financial reporting principles and
policies, or internal controls and procedures, designed to assure compliance
with accounting standards and applicable laws and regulations. Furthermore, the
Audit Committee's considerations and discussions referred to above do not
provide assurance that the audit of the Trust's financial statements has been
carried out in accordance with the standards of the Public Company Accounting
Oversight Board (United States) or that the financial statements are presented
in accordance with generally accepted accounting principles (United States of
America).

Based on its consideration of the audited financial statements and the
discussions referred to above with management and the Trust's independent
registered public accounting firm, and subject to the limitations on the
responsibilities and role of the Audit Committee set forth in the Charter and
those discussed above, the Audit Committee recommended to the Trust's Board of
Directors that the Trust's audited financial statements be included in the
Trust's Annual Report for the fiscal year ended December 31, 2004.

SUBMITTED BY THE AUDIT COMMITTEE OF THE TRUST'S BOARD OF DIRECTORS

Anthony R. Pustorino, Chairman
Werner J. Roeder, MD
Salvatore J. Zizza

February 16, 2005

The Audit Committee met twice during the fiscal year ended December 31,
2004. The Audit Committee is composed of three of the Trust's independent (as
such term is defined by the New York Stock Exchange, Inc.'s listing standards
(the "NYSE Listing Standards")) Directors, namely Messrs. Pustorino, Roeder and
Zizza. Each member of the Audit Committee has been determined by the Board of
Directors to be financially literate.

NOMINATING COMMITTEE

The Board of Directors has a Nominating Committee composed of three
independent (as such term is defined by the NYSE Listing Standards) Directors,
namely Messrs. Colavita, Roeder and Zizza. The Nominating Committee met once
during the fiscal year ended December 31, 2004. The Nominating Committee is
responsible for identifying and recommending to the Board of Directors
individuals believed to be qualified to become Board members in the event that a
position is vacated or created. The Nominating Committee will consider Director
candidates recommended by shareholders. In considering candidates submitted by
shareholders, the Nominating Committee will take into consideration the needs of
the Board of Directors, the qualifications of the candidate and the interests of
shareholders. The Nominating Committee may also take into consideration the
number of shares held by the recommending shareholder and the length of time
that such shares have been held. To recommend a candidate for consideration by
the Nominating Committee, a shareholder must submit the recommendation in
writing and must include the following information:

o The name of the shareholder and evidence of the shareholder's
ownership of shares of the Trust, including the number of shares
owned and the length of time of ownership;

o The name of the candidate, the candidate's resume or a listing of
his or her qualifications to be a Director of the Trust and the
person's consent to be named as a Director if selected by the
Nominating Committee and nominated by the Board of Directors; and

o If requested by the Nominating Committee, a completed and signed
director's questionnaire.

The shareholder recommendation and information described above must be
sent to James E. McKee, the Trust's Secretary, c/o Gabelli Funds, LLC, and must
be received by the Secretary no less than 120 days prior to the anniversary date
of the Trust's most recent annual meeting of shareholders or, if the meeting has
moved by more than 30 days, a reasonable amount of time before the meeting.

The Nominating Committee believes that the minimum qualifications for
serving as a Director of the Trust are that the individual demonstrate, by
significant accomplishment in his or her field, an ability to make a meaningful
contribution to the Board of Directors' oversight of the business and affairs of
the Trust and have an impeccable record and reputation for honest and ethical
conduct in both his or her professional and personal activities. In addition,
the Nominating Committee examines a candidate's specific experiences and skills,
time availability in light of other commitments, potential conflicts of interest
and independence from management and the Trust. The Nominating Committee also
seeks to have the Board of Directors represent a diversity of backgrounds and
experience.

The Trust's Nominating Committee adopted a charter on May 12, 2004, and
amended the charter on November 17, 2004. The charter can be found on the
Trust's website at www.gabelli.com.

OTHER BOARD-RELATED MATTERS

The Board of Directors has established the following procedures in order
to facilitate communications between the Board and the shareholders of the Trust
and other interested parties.

RECEIPT OF COMMUNICATIONS

Shareholders and other interested parties may contact the Board or any
member of the Board by mail or electronically. To communicate with the Board or
any member of the Board, correspondence should be addressed to the Board or the
Board member(s) with whom you wish to communicate by either name or title. All
such correspondence should be sent c/o the Trust at One Corporate Center, Rye,
NY, 10580-1422. To communicate with the Board electronically, shareholders may
send an e-mail to gabellifundsboard@gabelli.com.

FORWARDING THE COMMUNICATIONS

All communications received will be opened by the office of the General
Counsel of the Adviser for the sole purpose of determining whether the contents
represent a message to one or more Directors. The office of the General Counsel
will forward promptly to the addressee(s) any contents that relate to the Trust
and that are not in the nature of advertising, promotion of a product or
service, or patently offensive or otherwise objectionable material. In the case
of communications to the Board of Directors or any committee or group of members
of the Board, the General Counsel's office will make sufficient copies of the
contents to send to each Director who is a member of the group or committee to
which the envelope or e-mail is addressed.

The Trust does not expect Directors or Nominees for election as Director
to attend the Annual Meeting of Shareholders.

The following table sets forth certain information regarding the
compensation of the Trust's Directors and officers for the fiscal year ended
December 31, 2004. Ms. Nguyen is employed by the Trust and is not employed by
the Adviser (although she may receive incentive-based variable compensation from
affiliates of the Adviser). Officers of the Trust who are employed by the
Adviser receive no compensation or expense reimbursement from the Trust.

COMPENSATION TABLE
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2004

TOTAL COMPENSATION FROM
AGGREGATE COMPENSATION THE TRUST AND FUND COMPLEX
NAME OF PERSON AND POSITION FROM THE TRUST PAID TO DIRECTORS AND OFFICERS*
--------------------------- -------------- -------------------------------

INTERESTED DIRECTORS:
---------------------
MARIO J. GABELLI $0 $0 (24)
Chairman of the Board and
Chief Investment Officer

KARL OTTO POHL $0 $5,085 (34)
Director

NON-INTERESTED DIRECTORS/NOMINEES:
----------------------------------
DR. THOMAS E. BRATTER $8,500 $32,500 (3)
Director

COMPENSATION TABLE
FOR THE FISCAL YEAR ENDED DECEMBER31, 2004

NON-INTERESTEDDIRECTORS/NOMINEES:
---------------------------------
ANTHONY J. COLAVITA $11,000 $216,835 (36)
Director

JAMES P. CONN $8,500 $83,210 (13)
Director

FRANK J. FAHRENKOPF, JR. $8,500 $53,500 (4)
Director

ANTHONY R. PUSTORINO $12,500 $150,000 (17)
Director

WERNER J. ROEDER, MD $9,000 $109,750 (26)
Director

SALVATORE J. ZIZZA $10,000 $137,179 (24)
Director

OFFICERS:
---------
STEVEN D. LAROSA** $123,750 $123,750 (1)
Vice President

----------
* Represents the total compensation paid to such persons during the calendar
year ended December 31, 2004 by investment companies (including the Trust)
or portfolios thereof from which such person receives compensation that
are considered part of the same fund complex as the Trust because they
have common or affiliated investment advisers. The number in parentheses
represents the number of such investment companies and portfolios.

** Mr. LaRosa resigned as an officer and employee of the Trust effective as
of November 24, 2004.

REQUIRED VOTE

The election of each of the listed Nominees for Director of the Trust
requires the affirmative vote of the holders of a plurality of the applicable
class or classes of Shares of the Trust represented at the Meeting if a quorum
is present.

THE BOARD OF DIRECTORS, INCLUDING THE "NON-INTERESTED" DIRECTORS,
UNANIMOUSLY RECOMMENDS THAT THE COMMON AND PREFERRED SHAREHOLDERS VOTE "FOR" THE
ELECTION OF EACH NOMINEE.

ADDITIONAL INFORMATION

INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

PricewaterhouseCoopers, 300 Madison Avenue, New York, NY 10017, has been
selected to serve as the Trust's independent registered public accounting firm
for the Trust's fiscal year ending December 31, 2005. PricewaterhouseCoopers
acted as the Trust's independent registered public accounting firm for the
fiscal year ended December 31, 2004. The Trust knows of no direct financial or
material indirect financial interest of PricewaterhouseCoopers in the Trust. A
representative of PricewaterhouseCoopers will not be present at the Meeting, but
will be available by telephone and will have an opportunity to make a statement,
if asked, and will be available to respond to appropriate questions.

Set forth in the table below are audit fees and non-audit related fees
billed to the Trust by PricewaterhouseCoopers for professional services received
during and for the Trust's fiscal years ended December 31, 2003 and 2004,
respectively.

FISCAL YEAR ENDED AUDIT-RELATED ALL
DECEMBER 31 AUDIT FEES* FEES** TAX FEES*** OTHER FEES
----------- ----------- ------ ----------- ----------

2003 $60,117 $5,100 $2,450 --
2004 $38,301 $8,600 $2,550 --

----------
* Includes non-recurring fees billed by PricewaterhouseCoopers to the Trust
in connection with the initial offering of each series of Preferred Stock
of the Trust.

** "Audit-Related Fees" are those fees billed to the Trust by
PricewaterhouseCoopers in connection with the preparation of Preferred
Shares Reports to Moody's Investors Service, Inc. and Fitch Ratings.

*** "Tax Fees" are those fees billed by PricewaterhouseCoopers in connection
with tax compliance services, including primarily the review of the
Trust's income tax returns.

The Trust's Audit Committee Charter requires that the Audit Committee
pre-approve all audit and non-audit services to be provided by the independent
registered public accounting firm to the Trust, and all non-audit services to be
provided by the independent registered public accounting firm to the Trust's
Adviser and service providers controlling, controlled by or under common control
with the Trust's Adviser ("affiliates") that provide on-going services to the
Trust (a "Covered Services Provider"), if the engagement relates directly to the
operations and financial reporting of the Trust. The Audit Committee may
delegate its responsibility to pre-approve any such audit and permissible
non-audit services to the Chairman of the Audit Committee, and the Chairman must
report his decision(s) to the Audit Committee, at its next regularly scheduled
meeting after the Chairman's pre-approval of such services. The Audit Committee
may also establish detailed pre-approval policies and procedures for
pre-approval of such services in accordance with applicable laws, including the
delegation of some or all of the Audit Committee's pre-approval responsibilities
to other persons (other than the Adviser or the Trust's officers). Pre-approval
by the Audit Committee of any permissible non-audit services is not required so
long as: (i) the aggregate amount of all such permissible non-audit services
provided to the Trust, the Adviser and any Covered Services Provider constitutes
not more than 5% of the total amount of revenues paid by the Trust to its
independent registered public accounting firm during the fiscal year in which
the permissible non-audit services are provided; (ii) the permissible non-audit
services were not recognized by the Trust at the time of the engagement to be
non-audit services; and (iii) such services are promptly brought to the
attention of the Audit Committee and approved by the Audit Committee or the
Chairman prior to the completion of the audit. All of the audit, audit-related
and tax services described above for which PricewaterhouseCoopersbilled the
Trust fees for the fiscal years ended December 31, 2003 and December 31, 2004
were pre-approved by the Audit Committee.

For the Trust's fiscal year ended December 31, 2004,
PricewaterhouseCoopershas represented to the Trust that it did not provide any
non-audit services (or bill any fees for such services) to the Adviser or any
affiliates thereof that provide services to the Trust.

THE INVESTMENT ADVISER AND ADMINISTRATOR

Gabelli Funds, LLC is the Trust's Adviser and Administrator and its
business address is One Corporate Center, Rye, New York 10580-1422.

COMPLIANCE WITH THE SECURITIES EXCHANGE ACT OF 1934

Section 16(a) of the 1934 Act and Section 30(h) of the 1940 Act, and the
rules thereunder, require the Trust's officers and Directors, officers and
directors of the Adviser, affiliated persons of the Adviser, and per-

sons who own more than 10% of a registered class of the Trust's securities to
file reports of ownership and changes in ownership with the SEC and the New York
Stock Exchange, Inc. and to furnish the Trust with copies of all Section 16(a)
forms they file. Based solely on the Trust's review of the copies of such forms
it received for the calendar year ended December 31, 2004, the Trust believes
that during that year such persons complied with all such applicable filing
requirements.

BROKER NON-VOTES AND ABSTENTIONS

For purposes of determining the presence of a quorum for transacting
business at the Meeting, abstentions and broker "non-votes" (that is, proxies
from brokers or nominees indicating that such persons have not received
instructions from the beneficial owner or other persons entitled to vote shares
on a particular matter with respect to which the brokers or nominees do not have
discretionary power) will be treated as shares that are present but that have
not been voted. Accordingly, shareholders are urged to forward their voting
instructions promptly.

The affirmative vote of a plurality of votes cast for each Nominee by the
shareholders entitled to vote for a particular Nominee is necessary for the
election of a Director. Abstentions or broker non-votes will not be counted as
votes cast and will have no effect on the result of the vote. Abstentions or
broker non-votes, however, will be considered to be present at the Meeting for
purposes of determining the existence of a quorum.

Shareholders of the Trust will be informed of the voting results of the
Meeting in the Trust's Semi-Annual Report dated June 30, 2005.

OTHER MATTERS TO COME BEFORE THE MEETING

The Directors of the Trust do not intend to present any other business at
the Meeting, nor are they aware that any shareholder intends to do so. If,
however, any other matters, including adjournments, are properly brought before
the Meeting, the persons named in the accompanying Proxy will vote thereon in
accordance with their judgment.

SHAREHOLDER PROPOSALS

All proposals by shareholders of the Trust which are intended to be
presented at the Trust's next Annual Meeting of Shareholders to be held in 2006
must be received by the Trust for consideration for inclusion in the Trust's
proxy statement and proxy relating to that meeting no later than December 16,
2005. There are additional requirements regarding proposals of shareholders, and
a shareholder contemplating submission of a proposal is referred to Rule 14a-8
under the 1934 Act.

IT IS IMPORTANT THAT PROXIES BE RETURNED PROMPTLY. SHAREHOLDERS WHO DO NOT
EXPECT TO ATTEND THE MEETING ARE THEREFORE URGED TO COMPLETE, SIGN, DATE AND
RETURN THE PROXY CARD AS SOON AS POSSIBLE IN THE ENCLOSED POSTAGE-PAID ENVELOPE.

COMMON THE GABELLI GLOBAL MULTIMEDIA TRUST INC. COMMON

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned hereby appoints Mario J. Gabelli, James E. McKee and Bruce N.
Alpert, and each of them, attorneys and proxies of the undersigned, with full
powers of substitution and revocation, to represent the undersigned and to vote
on behalf of the undersigned all shares of The Gabelli Global Multimedia Trust
Inc. (the "Trust") which the undersigned is entitled to vote at the Annual
Meeting of Shareholders of the Trust to be held at The Round Hill Room, Hyatt
Regency Greenwich, 1800 East Putnam Avenue, Old Greenwich, Connecticut 06870 on
Monday, May 9, 2005 at 10:00 a.m., and at any adjournments thereof. The
undersigned hereby acknowledges receipt of the Notice of Meeting and Proxy
Statement and hereby instructs said attorneys and proxies to vote said shares as
indicated herein. In their discretion, the proxies are authorized to vote upon
such other business as may properly come before the Meeting.

A majority of the proxies present and acting at the Meeting in person or by
substitute (or, if only one shall be so present, then that one) shall have and
may exercise all of the power and authority of said proxies hereunder. The
undersigned hereby revokes any proxy previously given.

This proxy, if properly executed, will be voted in the manner directed by the
undersigned shareholder. If no direction is made, this proxy will be voted FOR
the election of the nominees as Directors and in the discretion of the proxy
holder as to any other matter that may properly come before the Meeting. Please
refer to the Proxy Statement for a discussion of Proposal No. 1.

--------------------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN ON REVERSE AND RETURN PROMPTLY IN THE ENCLOSED
ENVELOPE.
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Please sign this proxy exactly as your name(s) appear(s) on the books of the
Trust. If joint owners, either may sign. Trustees and other fiduciaries should
indicate the capacity in which they sign, and where more than one name appears,
a majority must sign. If a corporation, this signature should be that of an
authorized officer who should state his or her title.
--------------------------------------------------------------------------------

HAS YOUR ADDRESS CHANGED?

----------------------------------------
----------------------------------------
----------------------------------------

DO YOU HAVE ANY COMMENTS?

----------------------------------------
----------------------------------------
----------------------------------------

COMMON THE GABELLI GLOBAL MULTIMEDIA TRUST INC. COMMON
THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

HAS YOUR ADDRESS CHANGED?

----------------------------------------
----------------------------------------
----------------------------------------

DO YOU HAVE ANY COMMENTS?

----------------------------------------
----------------------------------------
----------------------------------------

3554

X PLEASE MARK
VOTES AS IN
THIS EXAMPLE.

1. To elect three (3) Directors of the Trust:
(01) FRANK J. FAHRENKOPF, JR.
(02) WERNER J. ROEDER, M.D.
(03) SALVATORE J. ZIZZA

For All
Nominees

Withhold

For All
Except
(INSTRUCTION: To withhold authority to vote for any individual nominee, write
that nominee's name in the space provided above.)

---------------------------------------------
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
---------------------------------------------
COMMON SHAREHOLDER

Mark box at right if an address change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this proxy.

Signature: Date: Co-owner: Date:
----------- --------------- --------------- -------------

3554

X PLEASE MARK
VOTES AS IN
THIS EXAMPLE.

1. To elect three (3) Directors of the Trust:
(01) FRANK J. FAHRENKOPF, JR.
(02) WERNER J. ROEDER, M.D.
(03) SALVATORE J. ZIZZA

For All
Nominees

Withhold

For All
Except
(INSTRUCTION: To withhold authority to vote for any individual nominee, write
that nominee's name in the space provided above.)

---------------------------------------------
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
---------------------------------------------
COMMON SHAREHOLDER

Mark box at right if an address change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this proxy.

Signature: Date: Co-owner: Date:
----------- --------------- --------------- -------------

SERIES B THE GABELLI GLOBAL MULTIMEDIA TRUST INC. SERIES B
PREFERRED PREFERRED

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

HAS YOUR ADDRESS CHANGED?

-------------------------------------
-------------------------------------
-------------------------------------

DO YOU HAVE ANY COMMENTS?

-------------------------------------
-------------------------------------
-------------------------------------

SERIES B THE GABELLI GLOBAL MULTIMEDIA TRUST INC. SERIES B
PREFERRED PREFERRED

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

HAS YOUR ADDRESS CHANGED?

-------------------------------------
-------------------------------------
-------------------------------------

DO YOU HAVE ANY COMMENTS?

-------------------------------------
-------------------------------------
-------------------------------------

X PLEASE MARK
VOTES AS IN
THIS EXAMPLE.

1. To elect three (3) Directors of the Trust:
(01) FRANK J. FAHRENKOPF, JR.
(02) WERNER J. ROEDER, M.D.
(03) SALVATORE J. ZIZZA

For All
Nominees

Withhold

For All
Except

(INSTRUCTION: To withhold authority to vote for any individual nominee, write
that nominee's name in the space provided above.)

-----------------------------------------------
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
-----------------------------------------------
SERIES B PREFERRED SHAREHOLDER

Mark box at right if an address change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this proxy.

Signature:--------------- Date:----------- Co-owner:---------- Date:------------

3472
X PLEASE MARK
VOTES AS IN
THIS EXAMPLE.

1. To elect three (3) Directors of the Trust:
(01) FRANK J. FAHRENKOPF, JR.
(02) WERNER J. ROEDER, M.D.
(03) SALVATORE J. ZIZZA

For All
Nominees

Withhold

For All
Except

(INSTRUCTION: To withhold authority to vote for any individual nominee, write
that nominee's name in the space provided above.)

-----------------------------------------------
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
-----------------------------------------------
SERIES B PREFERRED SHAREHOLDER

Mark box at right if an address change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this proxy.

Signature:--------------- Date:----------- Co-owner:---------- Date:------------

SERIES C THE GABELLI GLOBAL MULTIMEDIA TRUST INC. SERIES C
PREFERRED PREFERRED

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

HAS YOUR ADDRESS CHANGED?

--------------------------------------
--------------------------------------
--------------------------------------

DO YOU HAVE ANY COMMENTS?

--------------------------------------
--------------------------------------
--------------------------------------

SERIES C THE GABELLI GLOBAL MULTIMEDIA TRUST INC. SERIES C
PREFERRED PREFERRED

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

HAS YOUR ADDRESS CHANGED?

--------------------------------------
--------------------------------------
--------------------------------------

DO YOU HAVE ANY COMMENTS?

--------------------------------------
--------------------------------------
--------------------------------------

3472
X PLEASE MARK
VOTES AS IN
THIS EXAMPLE.

1. To elect three (3) Directors of the Trust:
(01) FRANK J. FAHRENKOPF, JR.
(02) WERNER J. ROEDER, M.D.
(03) SALVATORE J. ZIZZA

For All
Nominees

Withhold

For All
Except
(INSTRUCTION: To withhold authority to vote for any individual nominee, write
that nominee's name in the space provided above.)

-------------------------------------------------
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
-------------------------------------------------
SERIES C PREFERRED SHAREHOLDER

Mark box at right if an address change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this proxy.

Signature:--------------- Date: -----------Co-owner:------------ Date:----------

3472
X PLEASE MARK
VOTES AS IN
THIS EXAMPLE.

1. To elect three (3) Directors of the Trust:
(01) FRANK J. FAHRENKOPF, JR.
(02) WERNER J. ROEDER, M.D.
(03) SALVATORE J. ZIZZA

For All
Nominees

Withhold

For All
Except
(INSTRUCTION: To withhold authority to vote for any individual nominee, write
that nominee's name in the space provided above.)

-------------------------------------------------
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.
-------------------------------------------------
SERIES C PREFERRED SHAREHOLDER

Mark box at right if an address change or comment has been noted on the reverse
side of this card.

Please be sure to sign and date this proxy.

Signature:--------------- Date: -----------Co-owner:------------ Date:----------