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The Board of Trustees of The Gabelli Utility Trust (NYSE:GUT) approved the continuation of monthly
distributions of $0.06 per share for July, August and September 2004.
The distribution for July 2004 will be payable on July 26, 2004 to shareholders of record on
July 12, 2004.
The distribution for August 2004 will be payable on August 25, 2004 to shareholders of record on
August 11, 2004.
The distribution for September 2004 will be payable on September 24, 2004 to shareholders of record
on September 10, 2004.
A portion of the distribution may be treated as long-term capital gain and qualifying dividend income
for individuals, each subject to the maximum Federal income tax rate of 15% in taxable accounts for
individuals. Long-term capital gain, qualifying dividend income, ordinary income and non-taxable
return of capital, if any, that is allocable to the common shares will be allocated on a pro-rata
basis to all distributions for the year. The final determination of the source of all distributions
in 2004 will be made after the 2004 year-end.
The Gabelli Utility Trust has paid a distribution to shareholders every month since October 1999.
The Gabelli Utility Trust is a closed-end, non-diversified management investment company with
$202 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. The Fund is managed by Gabelli Funds, LLC, a subsidiary of Gabelli
Asset Management Inc. (NYSE:GBL), which is a publicly traded NYSE listed company.
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