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The Board of Trustees of The Gabelli Utility Trust (NYSE:GUT) approved the continuation of
monthly cash distributions of $0.06 per share for October and November 2005.
The distribution for October 2005 will be payable on October 25, 2005 to shareholders of
record on October 17, 2005.
The distribution for November 2005 will be payable on November 23, 2005 to shareholders of
record on November 15, 2005.
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, which is currently
15% in taxable accounts for individuals. If the Trust does not generate earnings from dividends,
interest and net realized capital gains equal to or in excess of the aggregate distributions
paid by the Trust for the year, then the amount distributed in excess of the Trust's investment
income and net realized capital gains will be deemed a non-taxable return of capital. Long-term
capital gain, qualifying dividend income, ordinary income and non-taxable return of capital,
if any, will be allocated on a pro-rata basis to all distributions to common shareholders for
the year. The final determination of the source of all distributions in 2005 will be made
after year-end.
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
$271 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 Trust 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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