Rye, NY
December 4, 2006
CUSIP 36240A101
For information:
David Schachter
(914) 921-5070

The Gabelli Utility Trust (NYSE:GUT) revised the dates for its monthly cash distribution of $0.06 per share for December 2006.

The December 2006 distribution of $0.06 per share will now be payable on December 18, 2006 to shareholders of record on December 13, 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 December 4, 2006, the date of this press release, each of the distributions paid in 2006 would include approximately 15% from net investment income, 13% from net capital gains, and 72% 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 ( 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 Form 1099-DIV.

The Gabelli Utility Trust is a non-diversified, closed-end management investment company with $292 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.