The Board of Trustees of The Gabelli Utility Trust (NYSE:GUT) (the
"Fund”) authorized the Fund’s investment adviser to explore the benefits
to shareholders of a rights offering for the Fund. There can be no
assurance that the Fund will commence a rights offering, and, if it did,
what the terms of an offering would be. The timing of any rights
offering would be subject to regulatory filings, market conditions, and
other factors.
This announcement does not constitute an offering of any transaction in
any securities, which will be made only by means of a prospectus.
The Fund has previously conducted three rights offerings in 2002, 2003,
and 2004.
The Gabelli Utility Trust is a non-diversified, closed-end management
investment company with $205 million in total net assets whose primary
investment objective is to seek long-term growth of capital and income
by investing primarily in companies that provide products, services, or
equipment for the generation or 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.