The Board of Trustees of The Gabelli Global Small and Mid Cap Value Trust (NYSE: GGZ) (the “Fund”) authorized the redemption of all remaining outstanding 5.450% Series A Cumulative Preferred Shares (the “Series A Preferred Shares”). The Series A Preferred Shares will be redeemed at $25.24600694 per share (the “Redemption Price”), which consists of $25.00 per share (the “Liquidation Preference”) plus $0.24600694 per share representing accumulated but unpaid dividends and distributions through the redemption date of February 28, 2022 (the “Redemption Date”).

From and after the Redemption Date, the Series A Preferred Shares being redeemed will no longer be deemed outstanding, dividends will cease to accumulate and all the rights of the holders of the Series A Preferred Shares with respect to the Series A Preferred Shares will cease, except the right to receive the Redemption Price, without interest.

All of the Series A Preferred Shares are held in book-entry form through the Depository Trust Company ("DTC") and shares will be redeemed in accordance with the procedures of DTC. Payment to DTC for the Series A Preferred Shares will be made by Computershare Trust Company, N.A., as paying agent for this redemption.

The Series A Preferred Shares, which trade on the New York Stock Exchange under the symbol “GGZ Pr A”, are rated “A2” by Moody’s Investors Service and have an annual dividend rate of $1.3625 per share. The Series A Preferred Shares were issued on May 10, 2016 at $25.00 per share and pay distributions quarterly.

Questions relating to, and requests for additional copies of, the notice of redemption and related materials may be directed to:

Bethany Uhlein

(914) 921-5546

About The Gabelli Global Small and Mid Cap Value Trust

The Gabelli Global Small and Mid Cap Value Trust is a diversified, closed-end management investment company with $213 million in total net assets whose primary investment objective is long-term capital growth. Under normal market conditions, the Fund will invest at least 80% of its total assets in equity securities (such as common stock and preferred stock) of companies with small or medium sized market capitalizations. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE: GBL).

NYSE – GGZ Pr A

CUSIP – 36249W203

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