September 02, 2004

GLOBAL INCOME FUND DECLARES QUARTERLY DIVIDEND

NEW YORK -- A quarterly dividend distribution of $.08 per share for the quarter ending September 30, 2004 was declared today by Global Income Fund, Inc. (AMEX: GIF), payable September 30, 2004 to shareholders of record September 16, 2004.

The $.08 per share quarterly dividend distribution reflects a managed distribution policy of the Fund. The policy is intended to provide shareholders with a relatively stable cash flow and reduce or eliminate the Fund's market price discount to its net asset value per share. Under the current policy, distributions of approximately 7% of the Fund's net asset value per share on an annual basis are paid primarily from ordinary income and any net capital gains, with the balance representing return of capital. The amount of the distribution may vary depending on the net asset value per share at the time of declaration and the policy may be changed or discontinued without notice.

The primary investment objective of Global Income Fund, Inc. is to provide for its shareholders a high level of income, with capital appreciation as a secondary objective. The Fund pursues its investment objectives by investing primarily in a global portfolio of investment grade fixed income securities.  More information about the Fund may be obtained at www.globalincomefund.net.