CALAMOS GLOBAL TOTAL RETURN FUND — Director's Dealing 2007

Aug 23, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CALAMOS GLOBAL TOTAL RETURN FUND (CGO)
CIK: 0001285650
Period of Report: 2007-08-16

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-08-16	Common	P	5000	$14.23	Acquired	105600	Indirect
2007-08-16	Common	P	3700	$14.35	Acquired	109300	Indirect

Footnotes

F1: 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.