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Delaware Investments Global Dividend And Income Fund, Inc. And Delaware Enhanced Global Dividend And Income Fund Announce Proposed Reorganization

The Board of Directors of Delaware Investments Global Dividend and Income Fund, Inc. (NYSE: DGF) ("DGF") and the Board of Trustees of Delaware Enhanced Global Dividend and Income Fund (NYSE: DEX) ("DEX") today announced their decision to approve a proposal providing for the reorganization of DGF into DEX. Under the terms of the proposed reorganization, DEX would acquire substantially all of DGF's assets in exchange for newly issued shares of common beneficial interest of DEX. Those shares of DEX would then be distributed pro rata to DGF's shareholders, and DGF would subsequently be liquidated and dissolved. Common shares of DGF would be exchanged for common shares of DEX based on the relative net asset values of each Fund’s common shares. These transactions, which are expected to be tax-free, are subject to the approval of the Agreement and Plan of Acquisition by each Fund’s shareholders.

Each Fund’s Board plans to submit the proposals described above to each Fund’s shareholders at a special meeting, currently expected to take place on September 21, 2011. Any solicitation of proxies by each Fund in connection with this shareholder meeting will be made only pursuant to proxy materials filed under the federal securities laws. It is anticipated that these proxy materials will be distributed to each Fund’s shareholders in July 2011. There can be no assurance that the shareholders of each Fund will vote in favor of the proposals.

Each Fund is a closed-end fund managed by Delaware Management Company, a series of Delaware Management Business Trust. The investment objective of DGF is to seek high current income; capital appreciation is a secondary objective. The investment objective of DEX is to seek current income; capital appreciation is a secondary objective. Each Fund has the ability to utilize leveraging techniques in an attempt to obtain a higher return for the Fund. At present, each Fund maintains a line of credit with The Bank of New York Mellon, which is utilized by the Funds for leveraging purposes. If the merger is approved, it is anticipated that the surviving Fund will continue to utilize leverage under a line of credit following the close of the transaction. As of April 30, 2011, the total net assets of DGF and DEX were approximately $39.3 million and $178.5 million, respectively.

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