CALAMOS GLOBAL TOTAL RETURN FUND — Director's Dealing 2007

Dec 12, 2007

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: CALAMOS GLOBAL TOTAL RETURN FUND (CGO)
CIK: 0001285650
Period of Report: 2007-10-31

Reporting Person: CALAMOS JOHN P SR (Director, president and chairman)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common	75839.112	Indirect
Common	109300	Indirect

Footnotes

F1: Includes 5,145.452 shares acquired between November 2006 and October 2007 under the Calamos Global Total Return Fund dividend reinvestment plan.

F2: The reporting person is managing member of the limited liability company that owns the reported securities. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.