Gabelli Utility Trust to Redeem Its Outstanding 5.625% Series A Cumulative Preferred Shares

RYE, N.Y.–(BUSINESS WIRE)–The Board of Trustees of The Gabelli Utility Trust (NYSE:GUT) (the “Fund”) authorized the redemption of all remaining outstanding 5.625% Series A Cumulative Preferred Shares (the “Series A Preferred Shares’). The Series A Preferred Shares will be redeemed at $25.13671875 per share (the “Redemption Price”), which consists of $25.00 per share (the “Liquidation Preference”) plus $0.13671875 per share representing accumulated but unpaid dividends and distributions to the redemption date of January 31, 2022 (the “Redemption Date”).

From and after the Redemption Date, the Series A Preferred Shares being redeemed will no longer be deemed outstanding, dividends will cease to accumulate and all the rights of the holders of the Series A Preferred Shares with respect to the Series A Preferred Shares will cease, except the right to receive the Redemption Price, without interest.

All of the Series A Preferred Shares are held in book-entry form through the Depository Trust Company (“DTC”) and shares will be redeemed in accordance with the procedures of DTC. Payment to DTC for the Series A Preferred Shares will be made by Computershare Trust Company, N.A., as paying agent for this redemption.

The Series A Preferred Shares, which trade on the New York Stock Exchange under the symbol “GUT Pr A”, are rated “A1” by Moody’s Investors Service and have an annual dividend rate of $1.40625 per share. The Series A Preferred Shares were issued on July 28, 2003 at $25.00 per share and pay distributions quarterly.

Questions relating to, and requests for additional copies of, the notice of redemption and related materials may be directed to:

David Schachter

(914) 921-5057

About The Gabelli Utility Trust

The Gabelli Utility Trust is a diversified, closed-end management investment company with $376 million in total net 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).

NYSE – GUT

CUSIP – 36240A101

NYSE – GUT Pr A

CUSIP – 36240A200

Contacts

David Schachter

(914) 921-5057