The Board of Trustees of The Gabelli Utility Trust (NYSE:GUT) approved the continuation of monthly
distributions of $0.06 per share for April, May, and June 2007.
The distribution for April 2007 will be payable on April 24, 2007 to shareholders of record on
April 16, 2007.
The distribution for May 2007 will be payable on May 24, 2007 to shareholders of record on May 16, 2007.
The distribution for June 2007 will be payable on June 25, 2007 to shareholders of record on June 15, 2007.
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. If the Fund does not generate earnings from dividends, interest, and net
realized capital gains equal to or in excess of the aggregate distributions paid by the Fund for the year,
then the amount distributed in excess of the Fund's investment income and net realized capital gains will
be deemed a non-taxable return of capital.
Long-term capital gains, qualified dividend income, ordinary income, and paid-in capital, if any, will be
allocated on a pro-rata basis to all distributions to common shareholders for the year. As of February
26, 2007, the date of this press release, each of the distributions paid in 2007 would include approximately
10% from net investment income, 7% from net capital gains, and 83% from paid-in capital. 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 Utility Trust has paid a distribution to shareholders every month since October 1999.
The Gabelli Utility Trust is a non-diversified, closed-end management investment company with $303 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 generation and distribution of electricity, gas,
and water. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL),
which is a publicly traded NYSE listed company.