Market Overview

Voya Equity Closed End Funds Declare Distributions

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Voya Investment Management, the asset management business of Voya
Financial, Inc. (NYSE:VOYA), announced today the monthly distributions
on the common shares of two of its closed-end funds (each a "Fund" and
collectively, the "Funds").

With respect to each Fund, the distribution will be paid on September
17, 2018, to shareholders of record on September 5, 2018. The
ex-dividend date is September 4, 2018. The distribution per share for
each Fund is as follows:

     

Fund

Distribution Per Share

Voya Global Equity Dividend and Premium Opportunity Fund (NYSE:IGD) $0.061
Voya International High Dividend Equity Income Fund (NYSE:IID) $0.052
 

Each Fund intends to make regular monthly distributions based on the
past and projected performance of the Fund. The amount of monthly
distributions may vary, depending on a number of factors. As portfolio
and market conditions change, the rate of distributions on the common
shares may change. There can be no assurance that a Fund will be able to
declare a distribution in each period. Past performance is no guarantee
of future results.

The tax treatment and characterization of a Fund's distributions may
vary significantly from time to time depending on the net investment
income of the Fund and whether the Fund has realized gains or losses
from its options strategy versus gain or loss realizations in the equity
securities in the portfolio. Each Fund's distributions will normally
reflect past and projected net investment income, and may include income
from dividends and interest, capital gains and/or a return of capital.

The portion of each Fund's monthly distributions estimated to come from
the Fund's option strategy, for tax purposes, may be treated as a
combination of long-term and short-term capital gains, and/or a return
of capital. The tax character of each Fund's option strategy is largely
determined by movements in, and gain and loss realizations in the
underlying equity portfolio. Under certain conditions, federal tax
regulations may also cause some or all of the return of capital to be
taxed as ordinary income. The final tax characteristics of the
distributions cannot be determined with certainty until after the end of
the calendar year, and will be reported to shareholders at that time.

IGD estimates that for the current fiscal year as of July 31,
2018, approximately 21% of each distribution is characterized as net
investment income, 14% is characterized as short-term capital gain and
65% is characterized as return of capital.

IID estimates that for the current fiscal year as of July 31,
2018, approximately 28% of each distribution is characterized as net
investment income and 72% is characterized as return of capital.

Shares of closed-end funds often trade at a discount from their net
asset value. The market price of Fund shares may vary from net asset
value based on factors affecting the supply and demand for shares, such
as Fund distribution rates relative to similar investments, investors'
expectations for future distribution changes, the clarity of the Fund's
investment strategy and future return expectations, and investors'
confidence in the underlying markets in which the Fund invests. Fund
shares are subject to investment risk, including possible loss of
principal invested. No Fund is a complete investment program and you may
lose money investing in a Fund. An investment in a Fund may not be
appropriate for all investors. Before investing, prospective investors
should consider carefully the Fund's investment objective, risks,
charges and expenses.

Certain statements made on behalf of the Funds in this release are
forward-looking statements. The Funds' actual future results may differ
significantly from those anticipated in any forward-looking statements
due to numerous factors, including but not limited to a decline in value
in equity markets in general or the Funds' investments specifically.
Neither the Funds nor Voya Investment Management undertake any
responsibility to update publicly or revise any forward-looking
statement.

This information should not be used as a basis for legal and/or tax
advice. In any specific case, the parties involved should seek the
guidance and advice of their own legal and tax counsel.

About Voya Investment Management

A leading, active asset management firm, Voya Investment Management
manages, as of March 31, 2018, more than $207 billion for affiliated and
external institutions as well as individual investors. With more than 40
years of history in asset management, Voya Investment Management has the
experience and resources to provide clients with investment solutions
with an emphasis on equities, fixed income, and multi-asset strategies
and solutions. Voya Investment Management was named by Pensions &
Investments Magazine as a 2017 Best Place to Work in Money Management.
For more information, visit voyainvestments.com. Follow Voya Investment
Management on Twitter @VoyaInvestments.

SHAREHOLDER INQUIRIES: Shareholder Services at (800) 992-0180; voyainvestments.com

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