NUMBER                            GLOBAL INCOME                           SHARES
G                                 FUND

COMMON STOCK                                                        COMMON STOCK

              Incorporated under the laws of the State of Maryland

                                                               CUSIP 37934Y 10 8
                                             SEE REVERSE FOR CERTAIN DEFINITIONS



This certifies that







is the owner of


  FULLY                     PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK,
                            $.01 PAR VALUE, OF Global Income Fund, Inc.
     transferable only on the books of the Corporation in person or by duly
 authorized attorney upon surrender of this Certificate properly endorsed. This
  Certificate is not valid unless countersigned and registered by the Transfer
   Agent and Registrar. Witness the facsimile seal of the Corporation and the
              facsimile signatures of its duly authorized officers.

Dated:
                            GLOBAL INCOME FUND, INC.
                                 CORPORATE SEAL
/s/ Monica Pelaez                     1996                 /s/ Thomas B. Winmill
Secretary                           MARYLAND               President


COUNTERSIGNED AND REGISTERED:
          AMERICAN STOCK TRANSFER & TRUST COMPANY
                    (New York, NY)                TRANSFER AGENT
                                                  AND REGISTRAR

BY

                                                  Authorized Signature.



                                                 BANKNOTE CORPORATION OF AMERICA


                            Global Income Fund, Inc.

     The corporation will furnish without charge to each stockholder who so
requests, a statement of the powers, designations, preferences and relative,
participating, optional, or other special rights of each class of stock or
series thereof and the qualifications, limitations or restrictions of such
preferences and/or rights.

     The following abbreviations, when used in the inscription on the face of
this certificate, shall be construed as though they were written out in full
according to applicable laws or regulations:

TEN COM -- as tenants in common

TEN ENT -- as tenants by the entireties

JT TEN - as joint tenants with right of survivorship and not as
tenants in common

UNIF GIFT MIN ACT-- ________  (Cust) Custodian ________ (Minor)
under the Uniform Gifts to Minors Act__________(State)

     Additional abbreviations may also be used though not in the above list


 For value received,__________ hereby sell, assign and transfer unto __________

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
____________________
________________________________________________________________________________
(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE, OF
ASSIGNEE)
_____________________ Shares of the Stock represented by the within Certificate,
and do hereby irrevocably constitute and appoint _______ Attorney to transfer
the said stock on the Books of the within-named Corporation with full power of
substitution in the premises.

Dated

- ----------
__________________________________
Signature

__________________________________
THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON
THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR WITHOUT ALTERATION OR
ENLARGEMENT OR ANY CHANGE WHATEVER.