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”) have announced today the issuance of a notice of redemption
with respect to the Funds outstanding auction-rate preferred securities
(ARPS). The Funds are closed-end management investment companies listed
on the New York Stock Exchange.
“Following the completion of these planned redemptions, 100% of the ARPS
securities for the Funds will have been redeemed,” said Ritson Ferguson,
Chief Investment Officer of ING Clarion Real Estate Securities. “The
Funds have existing cash positions and available credit lines sufficient
to fund the planned redemptions which are consistent with our ongoing
effort to manage the costs and effects of leverage for the benefit of
our shareholders in these uncertain and volatile markets.”
The chart below shows the total ARPS outstanding per series, the date
and number of shares each fund will redeem.
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IGR
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CUSIP
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Shares
Redeemed
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Shares
Outstanding
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Redemption
Percent
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Redemption
Amount
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Redemption
Date
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Series A (28 Day)
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44982G203
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1,624
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1,624
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100%
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$40,600,000
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3/4/2009
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Series B (28 Day)
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44982G302
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1,624
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1,624
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100%
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$40,600,000
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3/12/2009
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Series C (28 Day)
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44982G401
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1,624
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1,624
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100%
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$40,600,000
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2/18/2009
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Series D (28 Day)
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44982G500
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1,624
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1,624
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100%
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$40,600,000
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2/26/2009
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Series T (7 Day)
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44982G609
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2,528
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2,528
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100%
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$63,200,000
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2/18/2009
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Series W (7 Day)
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44982G708
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2,528
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2,528
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100%
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$63,200,000
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2/19/2009
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Series TH (7 Day)
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44982G807
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1,624
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1,624
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100%
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$40,600,000
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2/20/209
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Series F (7 Day)
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44982G880
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1,624
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1,624
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100%
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$40,600,000
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2/23/2009
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Total
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14,800
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14,800
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$370,000,000
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IIA
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CUSIP
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Shares
Redeemed
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Shares
Outstanding
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Redemption
Percent
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Redemption
Amount
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Redemption
Date
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Series M (7 Day)
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449788306
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250
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250
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100%
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$6,250,000
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2/17/2009
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Series W (28 Day)
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449788207
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1,750
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1,750
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100%
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$43,750,000
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3/5/2009
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Total
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2,000
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2,000
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$50,000,000
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About ING Clarion Real Estate Securities
ING Clarion Real Estate Securities is a registered investment
management firm specializing in the management of equity real estate
securities. Headquartered near Philadelphia, Pennsylvania the
firm has approximately $11 billion in assets under management as of
December 31, 2008 and over 70 employees located throughout the United
States, the United Kingdom, Hong Kong, and Japan.
ING Clarion Real Estate Securities is the real estate equity
management arm of ING Real Estate, a global real estate company active
in investment management, development and finance. With a total business
portfolio of approximately $178 billion and offices in 21 countries in
Europe, America, Asia and Australia, ING Real Estate ranks among the
world’s strongest real estate companies. ING Real Estate is part of ING
Group.
For more information on our closed-end funds, please visit our
website www.ingclarionres.com
or call 888-711-4272.
Analyst and Press Inquiries:
ING Clarion Real Estate
Securities
David Leggette, Vice President
610-995-2500
