The GDL Fund Announces Evaluation Of Potential Strategic Alternatives

The Board of Trustees of The GDL Fund (NYSE:GDL) (the “Fund”) announces that it will evaluate potential strategic alternatives for the Fund including a common share rights offering, common share repurchases or changes to the distribution policy. The results of the evaluation will be announced promptly after completion, which is expected over the next several weeks. The purpose would be to evaluate ways to enhance participation in what the Board believes to be an attractive environment to invest in merger arbitrage.