"GLBP performs a similar, but not identical, function for the user as the HSRP and the VRRP. HSRP and VRRP protocols allow multiple routers to participate in a virtual router group configured with a virtual IP address. One member is elected to be the active router to forward packets sent to the virtual IP address for the group. The other routers in the group are redundant until the active router fails. These standby routers have unused bandwidth that the protocol is not using. Although multiple virtual router groups can be configured for the same set of routers, the hosts must be configured for different default gateways, which results in an extra administrative burden. GLBP provides load balancing over multiple routers (gateways) using a single virtual IP address and multiple virtual MAC addresses. Each host is configured with the same virtual IP address, and all routers in the virtual router group participate in forwarding packets."
Check out the link below:
http://www.cisco.com/en/US/products/sw/iosswrel/ps1839/products_feature_guide09186a00801541c8.html
HTH.
