THE GABELLI DIVIDEND & INCOME TRUST
ANNOUNCES SHARE REPURCHASES OF 504,100 SHARES IN 2005

FOR IMMEDIATE RELEASE
Rye, NY
February 15, 2006
NYSE - GDV
CUSIP - 36242H104
For information:
Carter Austin
(914) 921-5070



  The Gabelli Dividend & Income Trust (NYSE:GDV) announced today that pursuant to its share repurchase plan, the Trust repurchased 384,100 common shares in the fourth quarter of 2005 and a total of 504,100 shares for the full year 2005.

The Board of Trustees, at a meeting held on May 12, 2004, voted to authorize the repurchase of its common shares in the open market, from time to time, when the shares are trading at a discount of 7.5% or more from net asset value. The Trust has repurchased a total of 749,800 shares since the inception of the share repurchase program at an average investment of $17.77 per share and an average discount to net asset value of 11.75%.

The Gabelli Dividend & Income Trust is a non-diversified, closed-end management investment company with $2.3 billion in total assets whose primary investment objective is to provide a high level of total return with an emphasis on dividends and income. The Trust is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL), which is a publicly traded NYSE listed company.