Company Website: http://www.cloughglobal.com
DENVER -- (Business Wire)

Today, the Clough Global Allocation Fund (NYSE Amex: GLV) declared a quarterly cash distribution of $0.30 per common share for October 2011. The dividend will be payable on October 31, 2011 to shareholders of record on October 21, 2011.

Clough Global Allocation Fund Cash Distribution

Ex-Date: October 19, 2011
Record Date: October 21, 2011
Payable Date: October 31, 2011

The Fund has approximately $264 million in total assets, the net asset value was $13.94 per share and the market price was $11.91 as of October 4, 2011. Subject to market conditions, the Fund intends to distribute subsequent regular quarterly cash distributions.

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 2011, 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 searching globally for the most opportunistic investments in the capital markets, with an investment objective of providing a high level of total return. With Analysts in Boston and Hong Kong, the Clough Global Allocation Fund seeks to pursue this objective by applying a fundamental research-driven investment process and will invest 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 $3.8 billion in assets: $1.6 billion in hedge fund and institutional accounts; $88 million in open-end mutual funds; and $2.0 billion in three closed-end funds (as of August 31, 2011) – 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, annual report or semi-annual report which contains this and other information visit www.cloughglobal.com or call 877-256-8445. Read them 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.

Contacts:

Clough Global Closed-End Funds
Edmund Burke, 303-623-2577
or
Fund Services Group, 877-256-8445

Source: Clough Global Allocation Fund