GABELLI UTILITY TRUST DECLARES
MONTHLY DISTRIBUTIONS OF $0.06 PER SHARE

FOR IMMEDIATE RELEASE
Rye, NY
February 21, 2002
NYSE - GUT
CUSIP 36240A101
For information:
David Schachter
(914) 921-5071

The Board of Trustees of The Gabelli Utility Trust (NYSE - GUT) declared monthly distributions of $0.06 per share for April, May and June 2002 at a board meeting on February 20, 2002.

The distribution for April 2002 will be payable on April 24, 2002 to shareholders of record on April 10, 2002.

The distribution for May 2002 will be payable on May 24, 2002 to shareholders of record on May 10, 2002.

The distribution for June 2002 will be payable on June 24, 2002 to shareholders of record on June 10, 2002.

The Gabelli Utility Trust has paid a distribution to shareholders every month since October 1999.

The Utility Trust is a closed-end, non-diversified management investment company with $80 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.