CALAMOS GLOBAL TOTAL RETURN FUND — Director's Dealing 2007

Mar 5, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CALAMOS GLOBAL TOTAL RETURN FUND (CGO)
CIK: 0001285650
Period of Report: 2007-03-01

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-03-01	Common	P	100	$16.2	Acquired	100	Indirect
2007-03-01	Common	P	100	$16.22	Acquired	200	Indirect
2007-03-01	Common	P	100	$16.32	Acquired	300	Indirect
2007-03-01	Common	P	300	$16.29	Acquired	600	Indirect
2007-03-01	Common	P	700	$16.17	Acquired	1300	Indirect
2007-03-01	Common	P	4500	$16.37	Acquired	5800	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common	70693.66	Indirect
Common	100600	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.