Fitch Rates ING Clarion Global Real Estate Income Fund Pfd Shares 'AAA'

NEW YORK--(BUSINESS WIRE)--Fitch Rates ING Clarion Global Real Estate Income Fund's (AMEX:IGR) 4,000 auction market preferred shares (AMPS) Series TH and 4,000 AMPS Series F 'AAA'. The ratings are based on asset coverage and preferred share basic maintenance amount tests, as well as the quality and experience of the asset manager.

Fitch also affirms the first AMPS issuance of 4,000 shares Series A, 4,000 shares Series B, 4,000 shares Series C, 4,000 shares Series D, 6,200 shares Series T, and 6,200 shares Series W, which closed on May 20, 2004, at 'AAA'. The additional issuance of series TH and Series F results in total AMPS of $910,000,000, increasing the funds leverage to approximately 28.3% from 23.6%.

ING Clarion Global Real Estate Income Fund is a closed-end management investment company that invests primarily in a portfolio of income-producing real estate securities, including real estate investment trusts (REITs). The fund is registered under the Investment Company Act of 1940, which permits closed-end funds to borrow up to 50% of the fund's value through the issuance of preferred shares.

ING Clarion Real Estate Securities (RES) is the fund's investment advisor. ING Clarion RES had approximately $16.4 billion in assets under management as of Sept. 30, 2006. An affiliate, ING Clarion Partners, manages over $19.4 billion of private market real estate with nearly 600 employees operating from 28 offices nationwide. Another affiliate, ING Clarion Capital LLC is a real estate fixed income manager with approximately $2.7 billion in assets under management. All three entities share a common real estate research platform and manage collectively over $38.5 billion in diverse real estate securities and real estate assets. ING Clarion is the U.S. investment management arm of ING Group's Real Estate Division (ING Real Estate). ING Real Estate is the largest global real estate manager and investor with $97 billion in real estate assets under management.

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