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, November, and December 2006.
The distribution for October 2006 will be payable on October 25, 2006 to shareholders of record
on October 17, 2006.
The distribution for November 2006 will be payable on November 24, 2006 to shareholders of record
on November 15, 2006.
The distribution for December 2006 will be payable on December 22, 2006 to shareholders of record
on December 14, 2006.
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 August 17, 2006, the date of this press release, each of the distributions paid
in 2006 would include approximately 14% from net investment income, 8% from net capital gains,
and 78% 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 2006 will be
made after year-end. All shareholders with taxable accounts will receive written notification
regarding the components and tax treatment for all 2006 distributions in early 2007 via
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
$278 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.