The November 2004 distribution of $0.06 per share will now be payable on November 29, 2004 to shareholders of record on November 22, 2004.

The Gabelli Utility Trust is a closed-end, non-diversified management investment company with $213 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 Gabelli Asset Management Inc. (NYSE:GBL), which is a publicly traded NYSE listed company.