SOURCE: Ellsworth Fund Ltd.

March 20, 2006 11:25 ET

Ellsworth Fund Ltd. Announces Monthly Portfolio Data

MORRISTOWN, NJ -- (MARKET WIRE) -- March 20, 2006 -- Ellsworth Fund Ltd. (AMEX: ECF) (successor to Ellsworth Convertible Growth and Income Fund, Inc.) today reported monthly portfolio data for the month ended February 28, 2006. Data is based on market value. Holdings may change without notice.

Top Ten Holdings by underlying common stock
                                         % of Net Assets
The Walt Disney Company                              3.5
Teva Pharmaceutical Industries Ltd.                  2.8
Nuveen Investments, Inc.                             2.7
The St. Paul Travelers Companies, Inc.               2.2
Celanese Corp.                                       2.1
Genworth Financial, Inc.                             2.1
The TJX Companies, Inc.                              2.1
Chesapeake Energy Corp.                              2.0
Freeport-McMoRan Copper and Gold, Inc.               2.0
MetLife, Inc.                                        1.9

Major Industry Exposure
                                         % of Net Assets
Financial and Insurance                             17.9
Technology                                          11.3
Pharmaceuticals                                     11.2
Energy                                               8.8
Banking/Savings and Loan                             6.6
Aerospace and Defense                                6.0
Telecommunications                                   4.9
Entertainment                                        4.7
Health Care                                          4.5
Retail                                               4.1

Portfolio Composition
                                         % of Net Assets
Convertible Bonds and Notes                         53.5
Convertible Preferred Stocks                        22.9
Mandatory Convertible Securities                    17.1
Common Stocks                                        3.2
Cash and Equivalents                                 3.3
      TOTAL NET ASSETS                             100.0

Data is unaudited and as of February 28, 2006. This selected information should be read in conjunction with the financial statements and notes included in the Company's Annual Report to Stockholders for the twelve months ended September 30, 2005.

Detailed quarterly portfolio information, as of December 31, 2005 is available on our website (http://www.ellsworthfund.com). Visit us there or contact us by email at info@ellsworthfund.com or call us at (973) 631-1177.

Ellsworth is a diversified closed-end management investment company. Ellsworth's investment objective is to seek a high level of total return on its assets through a combination of current income and capital appreciation. It seeks to achieve this objective by investing primarily in convertible securities.

AMEX - ECF          Cusip 289074106

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