On December 5, 2008, ING Global Advantage and Premium Opportunity Fund (NYSE:
IGA) ("Fund"), a closed-end fund, issued a press release in connection with the authorization by the Fund's Board of Trustees of an open-market share repurchase program pursuant to which the Fund may purchase, over the period ending December 31, 2009, up to 10% of its stock, in open-market transactions.

(d) Exhibits

The following Exhibit is filed as part of this Report.

Exhibit No.                                Description

99.1           ING Global Advantage and Premium Opportunity Fund Press Release
               dated December 5, 2008