IGR and IIA Announce Intended Redemption for Auction-Rate Preferred Securities

Philadelphia, Pennsylvania - October 7, 2008 - The Board of Trustees of ING Clarion Global Real Estate Income Fund (NYSE: IGR) and ING Clarion Real Estate Income Fund (NYSE: IIA) (the "Funds") has approved another partial redemption of auction-rate preferred securities (ARPS).  The Funds are closed-end management investment companies listed on the New York Stock Exchange.

Please download the PDF version of the press release to view important information about the intended redemption for auction-rate preferred securities.