Home | Contact Us | NAV & Market Price | Monthly Portfolio Summary

Ellsworth Fund Ltd. Announces Earnings and Financial Update

MORRISTOWN, NJ--(Marketwire - November 16, 2011) - Ellsworth Fund Ltd. (NYSE Amex: ECF) today reported earnings, financial highlights and certain portfolio information for the twelve months ended September 30, 2011:

EARNINGS REPORT		Twelve Months Ended
		September 30

		2011		2010

Net Income		$2,982,000		$3,981,000
	Per Share	$0.22		$0.30
Shares Outstanding		13,409,101		13,360,463
Total Net Assets		$100,008,000		$106,256,000
Net Asset Value Per Share		$7.46		$7.95

FUND STATISTICS

Market price		$6.43
Net asset value (NAV)		$7.46
Premium/(Discount)		(13.81	)%
Total Net Assets		$100,008,000
12-Month income distribution		$0.254
Yield on market price		3.95	%
Ratio of expenses (annualized)		1.06	%
Ratio of net income (annualized)		3.07	%
Portfolio turnover		47.30	%
Shares outstanding		13,409,101

TOP TEN HOLDINGS
	by underlying common stock	% of Net
		Assets

EMC		2.7	%
Intel		2.7	%
Nuance Communications		2.5	%
Chesapeake Energy		2.2	%
Equinix		2.2	%
Verizon Communications		2.2	%
Wells Fargo		2.1	%
AT&T		2.0	%
SBA Communications		1.7	%
Vale S.A.		1.7	%

MAJOR INDUSTRY		% of Net
	EXPOSURE	Assets

Telecommunications		12.7	%
Energy		11.6	%
Pharmaceuticals		10.5	%
Financial Services		8.5	%
Computer Software		7.2	%
Semiconductors		6.9	%
Banking/Savings and Loan		5.9	%
Healthcare		5.5	%
Metals and Mining		5.2	%
Computer Hardware		3.0	%

QUALITY ALLOCATION *
(From Moody's or S&P when Moody's is unavailable)
		% of Portfolio
AAA		1
AA		4
A		20
BBB		19
BB		21
B		12
CCC & below		3
Not Rated		20

* Excludes equity securities and cash

ASSET ALLOCATION		% of Net
		Assets

Convertible Bonds & Notes		61.5
Corporate Bonds & Notes		0.2
Convertible Preferred Stocks		14.2
Mandatory Convertible Securities		11.1
Common Stocks		8.4
Cash & Equivalents		4.6

Data is unaudited and as of September 30, 2011. This selected information should be read in conjunction with the financial statements and notes included in the Company's Semi-Annual Report to Shareholders for the six months ended March 31, 2011.

Detailed portfolio information is available on our website (www.ellsworthfund.com). Contact us by email at info@ellsworthfund.com or call us at (973) 631-1177.

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 NYSE Amex under the ticker symbol ECF.

Cusip 289074106