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The Board of Trustees of The Gabelli Dividend & Income Trust (NYSE:GDV) authorized management to
file a registration statement with the Securities and Exchange Commission with a view to issuing
preferred stock or debt to raise incremental assets and leverage the Fund's common shares.
The actual amount of capital to be raised, the terms, manner and timing of any offering have not
been determined and will be announced at a later date. Any proceeds raised will be used for
investment purposes. This announcement does not constitute an offering of any securities, which
will be made to the public only by means of a prospectus.
Raising incremental assets through the use of leverage provides an opportunity for the Fund to
take advantage of the current, low interest rate environment. The Board of Trustees shares the
Investment Adviser's view that the use of leverage can create additional value for the Fund's
common shareholders so long as the Fund generates a total return in excess of the cost of
maintaining or servicing of such securities.
The Gabelli Dividend & Income Trust is a closed-end, non-diversified management investment company
that began investment operations on November 28, 2003 with $1.4 billion in total assets and 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 Gabelli Asset
Management Inc. (GBL:NYSE), which is a publicly traded NYSE listed company.
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