SOURCE: Ellsworth Fund Ltd.

January 08, 2007 13:14 ET

Ellsworth Fund Ltd. Announces Dividend and Tax Information for the Year Ended December 31, 2006

MORRISTOWN, NJ -- (MARKET WIRE) -- January 8, 2007 -- Ellsworth Fund Ltd. (AMEX: ECF) today reported dividend and tax information for the year ended December 31, 2006.

Record  Payment             Ordinary   Qualified  Long-Term    Dividend
Date    Date    Total Paid   Income    Dividends   Capital   Reinvestment
2006    2006    Per Share  Dividends     (QDI)      Gain        Price
------- ------- ---------- ---------- ---------- ---------- ------------
Feb. 13 Feb. 27 $   0.070  $   0.070  $ 0.019282 $    —     $     8.1027
May  16 May  30     0.070      0.070    0.017848      —           7.9963
Aug. 16 Aug. 30     0.070      0.070    0.019589      —           8.1080
Oct. 27 Nov. 22     0.395      0.130    0.016910    0.265         8.2300
                ---------- ---------- ---------- ----------
                    0.605      0.340    0.073629    0.265
The portion of each ordinary income dividend qualifying for the corporate dividends-received deduction, allowable to certain corporate shareholders, was 24%.

None of the dividends paid during the year represented a return of capital.

There were no year-end reallocations or reclassifications of income or gains.

The amount of interest earned on direct obligations of the U.S. Government was negligible.

Further financial details are available on the Company's website: www.ellsworthfund.com.

Gary I. Levine
Executive Vice President and
Chief Financial Officer
AMEX - ECF Cusip 289074106

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