GABELLI UTILITY TRUST
DECLARES MONTHLY DISTRIBUTIONS OF $0.05 PER SHARE

FOR IMMEDIATE RELEASE
Rye, NY
January 8, 2001
NYSE - GUT
CUSIP 36240A101
For information:
David Schachter
(914) 921-5057

The Board of Trustees of The Gabelli Utility Trust (NYSE - GUT) declared monthly distributions of $0.05 per share for April, May and June 2001.

The distribution for April 2001 will be payable on April 30, 2001 to shareholders of record on April 20, 2001.

The distribution for May 2001 will be payable on May 29, 2001 to shareholders of record on May 18, 2001.

The distribution for June 2001 will be payable on June 29, 2001 to shareholders of record on June 21, 2001.

The Gabelli Utility Trust has paid a distribution of $0.05 per share every month since October 1999.

The Utility Trust is a closed-end, non-diversified management investment company with $85 million in total assets whose primary investment objective is to seek long-term growth of capital and income by investing primarily in utility companies involved in the distribution of electricity, gas and water.