THE GABELLI DIVIDEND & INCOME TRUST
DECLARES $0.25 PER SHARE EXTRA DISTRIBUTION,
RAISING ITS DECEMBER DISTRIBUTION TO $0.35 PER SHARE
AND BRINGING TOTAL 2006 DISTRIBUTIONS TO $1.45 PER SHARE, A 17% INCREASE OVER 2005

FOR IMMEDIATE RELEASE
Rye, NY
November 16, 2006
NYSE - GDV
CUSIP 36242H104
For information:
Carter Austin
(914) 921-5070


The Board of Trustees of The Gabelli Dividend & Income Trust (NYSE:GDV) declared a $0.35 per share cash distribution payable on December 18, 2006 to common shareholders of record on December 13, 2006, pursuant to the Gabelli Dividend & Income Trust's 6% Distribution Policy. This distribution consists of the $0.10 per share monthly distribution plus a $0.25 per share additional distribution.

The total distributions for 2006 from the Fund equate to $1.45 per share, a 17% increase over the $1.20 per share total distributions paid in 2005.

Under the Gabelli Dividend & Income Trust's current distribution policy, the Fund pays a minimum annual distribution of 6% of the initial public offering price of $20.00 per share. Pursuant to this policy, the Fund pays $0.10 per share in the first eleven months of the year and an adjusting distribution in December which includes, if necessary, any additional income and net realized capital gains in excess of the monthly distributions for that year to satisfy the minimum distribution requirements of the Internal Revenue Code. Each quarter, the Board of Trustees reviews the amount of any potential distribution and the income, capital gains, or capital available. The Fund's distribution policy is subject to modification by the Board of Trustees at any time.

A portion of the distribution may be treated as long-term capital gain and qualified dividend income for individuals, each subject to the maximum Federal income tax rate, which is currently 15% in taxable accounts for individuals. If the Fund does not generate earnings from dividends, interest, and net realized capital gains equal to or in excess of the aggregate distributions paid by the Fund for the year, then the amount distributed in excess of the Fund's investment income and net realized capital gains will be deemed a non-taxable return of capital.

Long-term capital gains, qualified dividend income, ordinary income, and paid-in capital, if any, will be allocated on a pro-rata basis to all distributions to common shareholders for the year. As of November 16, 2006, the date of this press release, the current distribution would include approximately 41% from net investment income and 59% from net capital gains. The estimated components of each distribution are provided to shareholders of record in a notice accompanying the distribution and are available on our website (www.gabelli.com). The final determination of the sources of all distributions in 2006 will be made after year-end. All shareholders with taxable accounts will receive written notification regarding the components and tax treatment for all 2006 distributions in early 2007 via Form 1099-DIV.

The Gabelli Dividend & Income Trust is a non-diversified, closed-end management investment company with $2.5 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 Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL), which is a publicly traded NYSE listed company.