ING Global Equity Dividend and Premium Opportunity Fund and ING International High Dividend Equity Income Fund Declare Monthly Distributions

    SCOTTSDALE, Ariz., July 15 /EMWNews/ -- ING Investments, LLC

announced the monthly distributions on the common shares of two of its

closed-end funds: ING Global Equity Dividend and Premium Opportunity Fund

(NYSE: IGD) and ING International High Dividend Equity Income Fund (NYSE:

IID) (each a "Fund" and collectively, the "Funds"). With respect to each

Fund, the distribution will be paid on August 15, 2008, to shareholders of

record on August 5, 2008. The ex-dividend date is August 1, 2008. The

distribution per share for each Fund is as follows:






                             Fund                         Distribution Per

                                                                Share



    ING Global Equity Dividend and Premium Opportunity

     Fund (NYSE: IGD)                                          $0.156

    ING International High Dividend Equity Income Fund

     (NYSE: IID)                                               $0.163



    Each Fund intends to make regular monthly distributions based on the

past and projected performance of the Fund. The amount of monthly

distributions may vary, depending on a number of factors. As portfolio and

market conditions change, the rate of distributions on the common shares

may change. There can be no assurance that a Fund will be able to declare a

distribution in each period.



    The tax treatment and characterization of a Fund's distributions may

vary significantly from time to time depending on the net investment income

of the Fund and whether the Fund has realized gains or losses from its

options strategy versus gain or loss realizations in the equity securities

in the portfolio. Each Fund's distributions will normally reflect past and

projected net investment income, and may include income from dividends and

interest, capital gains and/or a return of capital. The final tax

characteristics of the distributions cannot be determined with certainty

until after the end of the calendar year, and will be reported to

shareholders at that time.



    IGD estimates that each distribution for the current fiscal year, as of

June 30, 2008, will be comprised of approximately 46% ordinary income and

54% return of capital.



    IID estimates that each distribution for the current fiscal year, as of

June 30, 2008, will be comprised of approximately 37% ordinary income and

63% return of capital.



    The portion of each Fund's monthly distributions estimated to come from

the Fund's option strategy, for tax purposes, may be treated as a

combination of long-term and short-term capital gains, and/or a return of

capital. The tax character of each Fund's option strategy is largely

determined by movements in, and gain and loss realizations in the

underlying equity portfolio.



    Certain statements made on behalf of the Funds in this release are

forward- looking statements. The Funds actual future results may differ

significantly from those anticipated in any forward-looking statements due

to numerous factors, including but not limited to a decline in value in

equity markets in general or the Funds investments specifically. Neither

the Funds nor ING undertake any responsibility to update publicly or revise

any forward-looking statement.



    ING Investments, LLC, the manager of the Funds, is part of ING, a

global financial institution of Dutch origin offering banking, investments,

life insurance and retirement services to over 75 million private,

corporate and institutional clients in more than 50 countries. With a

diverse workforce of about 125,000 people, ING comprises a broad spectrum

of prominent companies



    that increasingly serve their clients under the ING brand.



    SHAREHOLDER INQUIRIES: ING Funds Shareholder Services at (800) 992-0180



    For more complete information, or to obtain a prospectus on any ING

fund, please call your Investment Professional or ING Funds Distributor,

LLC at (800) 992-0180 or log on to http://www.ingfunds.com. The prospectus should

be read carefully before investing. Consider the fund's investment

objectives, risk, and charges and expenses carefully before investing. The

prospectus contains this information and other information about the fund.

Check with your Investment Professional to determine which funds are

available for sale within their firm. Not all funds are available for sale

at all firms.