The Board of Directors of The Gabelli Multimedia Trust Inc. (NYSE:GGT) declared a $0.375 per
share cash distribution payable on March 26, 2007 to Preferred Shareholders of record on March 19, 2007.
The Preferred Shares, which trade on the New York Stock Exchange under the symbol "GGT Pr B", are
rated "Aaa" by Moody's Investors Service and have an annual dividend rate of $1.50 per share. The
Preferred Shares were issued on April 1, 2003 at $25.00 per share and pay distributions quarterly.
The Preferred Shares will be callable at any time at the liquidation value of $25.00 per share plus
accrued dividends following the expiration of the five-year call protection on April 1, 2008.
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. Long-term capital gains, qualified dividend income, and ordinary income,
if any, will be allocated on a pro-rata basis to all distributions for the year. As of February 26,
2007, the date of this press release, the current distribution would include 100% 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 2007 will be made after year-end, and can vary from the quarterly
estimates. All shareholders with taxable accounts will receive written notification regarding the
components and tax treatment for all 2007 distributions in early 2008 via Form 1099-DIV.
The Gabelli Multimedia Trust Inc. is a non-diversified, closed-end management investment company
with $261 million in total assets whose primary investment objective is long-term growth of capital. The
Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL), which is a publicly
traded NYSE listed company.