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Ellsworth Fund Announces Results of Adjournment Meeting

February 13, 2006 – Ellsworth Fund, Inc. (AMEX: ECF) (formerly, Ellsworth Convertible Growth and Income Fund, Inc.) today reported that, at the adjourned Annual Shareholder Meeting held on February 13, 2006, shareholders approved a proposal to reorganize the Fund as a Delaware statutory trust.  The reorganization is scheduled to occur as of February 17, 2006.

Ellsworth Fund, Inc. is a closed-end management investment company with more than $110 million in net assets.  The Fund invests primarily in convertible securities, which the objectives of providing income and the potential for capital appreciation -- which objectives the Fund considers to be relatively equal, over the long-term, due to the nature of the securities in which it invests.  The Fund's shares are listed on the American Stock Exchange under the symbol ECF.

AMEX - ECF            Cusip 289074106

For further information please contact:
Joshua P. Lake        Ph. (973) 631-1177         Fax (973) 631-9893