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Ellsworth Fund Ltd. Declares Year-End Distribution of Investment Income

MORRISTOWN, NEW JERSEY, October 13, 2008 – The Board of Trustees of Ellsworth Fund Ltd. (AMEX: ECF) declared its eighty-ninth quarterly dividend today. 

The $0.103 per share dividend is payable from net investment income on November 26, 2008 to shareholders of record October 23, 2008.

Shareholders Meeting Date: The trustees also set January 16, 2009 as the date of the annual shareholders meeting, with a record date of November 19, 2008. 

Ellsworth Fund Ltd. operates as a closed-end, diversified management investment company and invests primarily in convertible securities, with 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.  Its shares are traded on the American Stock Exchange under the ticker symbol ECF.


For further information please contact:
Gary I. Levine, CFO         Ph. (973) 631-1177