THE GABELLI DIVIDEND & INCOME TRUST
IS AUTHORIZED TO REPURCHASE ITS COMMON SHARES

FOR IMMEDIATE RELEASE
Rye, NY
May 26, 2004
NYSE - GDV
CUSIP 36242H104
For information:
Carter Austin
(914) 921-5070


 
The Board of Trustees of The Gabelli Dividend & Income Trust (NYSE:GDV) recently voted to authorize the repurchase of its common shares in the open market, from time to time, when such shares are trading at a discount of 7.5% or more from the net asset value of the common shares.

The Gabelli Dividend & Income Trust is a closed-end, non-diversified management investment company with $1.6 billion in total assets whose primary 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 Gabelli Asset Management Inc. (NYSE:GBL), which is a publicly traded NYSE listed company.