Virtus Global Multi-Sector Income Fund Declares Distribution

         Virtus Global Multi-Sector Income Fund Declares Distribution

PR Newswire

HARTFORD, Conn., Dec. 17, 2012

HARTFORD, Conn., Dec. 17, 2012 /PRNewswire/ --Virtus Global Multi-Sector
Income Fund (NYSE: VGI), a diversified closed-end fund, today announced the
following monthly distribution:

Dividend Declaration Date Record Date   Payable Date
$0.117   Dec. 17, 2012    Dec. 31, 2012 Jan. 9, 2013

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The Fund intends to distribute the greater of $0.117 or all available net
investment income and net short and long term capital gains, in accordance
with requirements under the Internal Revenue Code of 1986, as amended. The
amount of any supplemental distribution over the $0.117 will be announced on
January 2, 2013.

Distributions may represent earnings from net investment income, excess gains
taxable as ordinary income or, if necessary, return of capital. In addition,
distributions may include net realized long-term capital gains as permitted by
the Investment Company Act of 1940. There is no guarantee that the funds will
realize capital gains in any given year. Distributions are subject to
re-characterization for tax purposes after the end of the fiscal year. All
shareholders with taxable accounts will receive written notification regarding
the components and tax treatment for distributions via Form 1099-DIV.
Distributions from the fund are generally subject to Federal income taxes.

The Virtus Global Multi-Sector Income Fund seeks to maximize current income
while preserving capital by giving investors an opportunity to benefit from
broadly diversified holdings across the major domestic and international
fixed-income sectors. It is managed by Newfleet Asset Management, LLC, an
affiliated manager of Virtus Investment Partners, Inc., which specializes in
multi-sector fixed income investing.

For more information on the fund, contact shareholder services at (866)
270-7788, by email at closedendfunds@virtus.com, or through the closed end
fund section on the web at www.virtus.com.

About Newfleet Asset Management

Newfleet Asset Management, an affiliated manager of Virtus Investment Partners
(NASDAQ: VRTS), provides comprehensive fixed income portfolio management in
multiple strategies. Newfleet Multi-Sector Strategies, the team that manages
the Virtus Global Multi-Sector Income Fund, leverages the knowledge and skill
of investment professionals with expertise in every sector of the bond market,
including evolving, specialized, and out-of-favor sectors. The team employs
active sector rotation and disciplined risk management to portfolio
construction, avoiding interest rate bets and remaining duration neutral to
each strategy's stated benchmark. Virtus Investment Partners (NASDAQ: VRTS)
is a distinctive partnership of boutique investment managers singularly
committed to the long-term success of individual and institutional investors.
For more information visit www.virtus.com.

SOURCE Virtus Global Multi-Sector Income Fund

Website: http://www.virtus.com
Contact: Shareholder Services, +1-866-270-7788, closedendfunds@virtus.com