<PAGE> PAGE 1
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001 A000000 THE GLOBAL GOVERNMENT PLUS FUND, INC.
001 B000000 811-5123
001 C000000 2122141250
002 A000000 199 WATER STREET
002 B000000 NEW YORK
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002 D010000 10292
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<PAGE> PAGE 2
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011 C030003 55402
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011 B000004 8-00000000
011 C010004 SAN FRANCISCO
<PAGE> PAGE 3
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011 C030004 94111
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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SIGNATURE SUSAN C. COTE'
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000813339
<NAME> THE GLOBAL GOVERNMENT PLUS FUND, INC.
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 341,502,511
<INVESTMENTS-AT-VALUE> 359,000,977
<RECEIVABLES> 8,777,160
<ASSETS-OTHER> 460,348
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 368,238,485
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,899,576
<TOTAL-LIABILITIES> 17,899,576
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 343,847,518
<SHARES-COMMON-STOCK> 45,642,508
<SHARES-COMMON-PRIOR> 45,642,508
<ACCUMULATED-NII-CURRENT> 2,754,368
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (13,047,385)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 16,784,408
<NET-ASSETS> 350,338,909
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 25,453,162
<OTHER-INCOME> 0
<EXPENSES-NET> 3,612,506
<NET-INVESTMENT-INCOME> 21,840,656
<REALIZED-GAINS-CURRENT> 28,051,264
<APPREC-INCREASE-CURRENT> 23,236,542
<NET-CHANGE-FROM-OPS> 73,128,462
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (21,840,656)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (9,652,194)
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 41,635,612
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (28,692,087)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,570,602
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,612,506
<AVERAGE-NET-ASSETS> 342,741,000
<PER-SHARE-NAV-BEGIN> 6.76
<PER-SHARE-NII> 1.61
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<PER-SHARE-DIVIDEND> (0.48)
<PER-SHARE-DISTRIBUTIONS> (0.21)
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</TABLE>
For the fiscal year ended (a)12/31/95
File number (c) 811-5123
SUB-ITEM 77C
Submission of Matters to a Vote of Security
Holders
A special Meeting of Shareholders was called
for December 6, 1995. At such meeting the
shareholders approved the following proposals:
a) The conversion of the Fund from a closed-
end investment company to an open-end investment
company:
Affirmative
Negative
Votes Cast Votes
Cast
30,618,539
833,457
b) The changes in the fundamental
investment policies and
restrictions of the Fund relating to (i)
borrowing, (ii) restricted and illiquid securities
and (iii) loan policies:
Affirmative
Negative Votes Cast
Votes Cast
(i) To increase the Fund's
borrowing capabilities 24,071,153
7,112,842
(ii) To amend the Fund's
restrictions regarding
restricted securities 23,727,491
7,359,516
(iii)To clarify the Fund's
loan policies 24,465,991
6,681,834
c) The Management Agreement between the
Fund and Prudential Mutual Fund Management, Inc.
and the Subadvisory Agreement between Prudential
Mutual Fund Management, Inc. and The Prudential
Investment Corporation:
Affirmative
Negative
Votes Cast Votes
Cast
30,141,036
1,075,371
d) The election of Edward D. Beach, Harry A.
Jacobs, Jr.,
Donald D. Lennox, Douglas H. McCorkindale, Thomas
T. Mooney, Richard A. Redeker and Louis A. Weil,
III as directors, each to
hold office for an indefinite period, until the
earlier to occur of (i) the next meeting of
shareholders at which Directors are elected and
their successors are elected and qualify or (ii)
the expiration of their terms in accordance with
the Fund's retirement policy:
Affirmative
Votes Cast Votes Withheld
Edward D. Beach 29,234,021 3,186,928
Harry A. Jacobs, Jr. 29,203,609 3,217,340
Donald D. Lennox 29,282,664 3,138,285
Douglas H. McCorkindale 29,232,657 3,188,292
Thomas T. Mooney 29,314,333 3,106,616
Richard A. Redeker 29,261,311 3,159,638
Louis A. Weil, III 29,255,763 3,165,186
e) An amended Plan of Distribution pursuant
to Rule 12b-1 under the Investment Company Act of
1940:
Affirmative Negative
Votes Cast Votes
Cast
28,203,555
2,860,840
f) An amendment to the Fund's Articles of
Incorporation to, among other things, permit the
issuance of multiple classes of shares:
Affirmative Negative
Votes Cast Votes
Cast
30,052,174
971,192
g) In their discretion on any other
business which may properly come before the
meeting or any adjournment thereof.
Reclassification of Capital Accounts: The Fund
accounts for and reports distributions to
shareholders in accordance with the American
Institute of Certified Public Accountants'
Statement of Position 93-2: Determination,
Disclosure, and Financial Statement Presentation
of Income, Capital Gain, and Return of Capital
Distributions by Investment Companies. The effect
of applying this statement was to increase
undistributed net investment income by $12,406,562
and increase accumulated net realized losses on
investments by $12,406,562 for foreign currency
gains realized or recognized during the year ended
December 31, 1995. Net investment income, net
realized gains and net assets were not affected by
this change.
February 286, 1996
To the Board of Directors of The
Global Government Plus Fund, Inc.
In planning and performing our audit of the
financial statements of The Global Government plus
Plus Fund, Inc. (the "Fund") for the year ended
December 31, 1995, we considered its internal
control structure, including procedures for
safeguarding securities, in order to determine our
auditing procedures for the purposes of expressing
our opinion on the financial statements and to
comply with the requirements of Form N-SAR, and
not to provide assurance on the internal control
structure.
The management of the Fund is responsible for
establishing and maintaining an internal control
structure. In fulfilling this responsibility,
estimates and judgments by management are required
to assess the expected benefits and related costs
of internal control structure policies and
procedures. Two of the objectives of an internal
control structure are to provide management with
reasonable, but not absolute, assurance that
assets are appropriately safeguarded against loss
from unauthorized use or disposition and that
transactions are executed in accordance with
management's authorization and recorded properly
to permit preparation of financial statements in
conformity with generally accepted accounting
principles.
Because of inherent limitations in any internal
control structure, errors or irregularities may
occur and may not be detected. Also, projection
of any evaluation of the structure to future
periods is subject to the risk that it may become
inadequate because of changes in conditions or
that the effectiveness of the design and operation
may deteriorate.
Our consideration of the internal control
structure would not necessarily disclose all
matters in the internal control structure that
might be material weaknesses under standards
established by the American Institute of Certified
Public Accountants. A material weakness is a
condition in which the design or operation of the
specific internal control structure elements does
not reduce to a relatively low level the risk that
errors or irregularities in amounts that would be
material in relation to the financial statements
being audited may occur and not be detected within
a timely period by employees in the normal course
of performing their assigned functions. However,
we noted no matters involving the internal control
structure, including procedures for safeguarding
securities, that we consider to be material
weaknesses as defined above as of December 31,
1995.
This report is intended solely for the information
and use of management and the Securities and
Exchange Commission.
PRICE WATERHOUSE LLP
