2011 Capital Gain Distributions

Mutual funds realize gains and losses from selling securities held in their portfolios throughout the year. Tax laws require that the funds distribute the capital gains and ordinary income to their shareholders before year-end.

The following table shows capital gain distributions that were paid out in December. Shareholders are strongly advised to consult their own tax advisors with respect to the tax consequences of their investments in the funds.

ING Funds that paid year-end capital gain distributions:

Record Date:
12/15/11

Ex-Date:
12/16/11

Payable Date:
12/19/11

International Funds

	Short-term Capital Gains ($ per share)	Long-term Capital Gains ($ per share)	Total Capital Gains ($ per share)
ING Emerging Markets Equity Fund	$0.0206	$0.0288	$0.0494
ING Global Bond	$0.1476	$0.1228	$0.2704
ING Global Value Choice Fund	$1.4720	$1.5798	$3.0518
ING International Growth Fund	$0.0374	-	$0.0374

Domestic Equity Funds

	Short-term Capital Gains ($ per share)	Long-term Capital Gains ($ per share)	Total Capital Gains ($ per share)
ING Equity Dividend Fund	$0.1525	$0.0182	$0.1707
ING Index Plus LargeCap Fund	-	$0.1833	$0.1833
ING MidCap Opportunities Fund	-	$0.5854	$0.5854
ING MidCap Value Fund	$0.2482	-	$0.2482
ING Small Company Fund	$0.1289	$0.5772	$0.7061
ING Value Choice Fund	$0.0948	$1.4740	$1.5688

Fixed Income Funds

	Short-term Capital Gains ($ per share)	Long-term Capital Gains ($ per share)	Total Capital Gains ($ per share)
ING Floating Rate Fund	$0.0589	$0.0002	$0.0591
ING SPorts Core Fixed Income Fund	$0.0580	$0.0789	$0.1369

ING Funds that are not estimated to pay year-end capital gain distributions:

ING Alternative Beta Fund
ING Capital Allocation Fund
ING Core Equity Research Fund
ING Corporate Leaders 100 Fund
ING Diversified International Fund
ING Emerging Countries Fund
ING Countries Fund
ING Global Equity Dividend Fund
ING Global Natural Resources Fund
ING Global Opportunities Fund
ING Global Real Estate Fund
ING Global Target Payment Fund
ING GNMA Income Fund
ING Greater China Fund
ING Growth Opportunities Fund
ING High Yield Bond Fund
ING Index Plus International Equity Fund
ING Index Plus MidCap Fund
ING Index Plus SmallCap Fund
ING Intermediate Bond Fund
ING International Capital Appreciation Fund
ING International Core Fund
ING International Real Estate Fund
ING International SmallCap Multi-Manager
ING International Value Choice Fund
ING International Value Fund
ING Prime Rate Trust
ING Real Estate Fund
ING Russia Fund
ING Senior Income Fund
ING SmallCap Opportunities Fund

The Principal Risk Factors for each fund can be reviewed by going to the Fund Profile page and selecting a fund from the menu.

Please Note: All shareholders will receive an annual statement summarizing their capital gains distribution.

Distributions of earnings from non-qualifying dividends, interest income, other types of ordinary income and short-term capital gains will be taxed at the ordinary income tax rate applicable to the taxpayer.