THE GABELLI DIVIDEND & INCOME TRUST
ANNOUNCES REPURCHASE OF 365,700 COMMON SHARES

FOR IMMEDIATE RELEASE
Rye, NY
November 21, 2005
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 has repurchased 120,000 shares during 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 365,700 shares since the inception of the share repurchase program at an average investment of $17.71 per share and an average discount to net asset value of 9.42%.

The Gabelli Dividend & Income Trust is a non-diversified, closed-end management investment company with $2.2 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.