SOURCE: Ellsworth Fund Ltd.

March 20, 2008 13:10 ET

Ellsworth Fund Ltd. Announces Monthly Portfolio Data

MORRISTOWN, NJ--(Marketwire - March 20, 2008) - Ellsworth Fund Ltd. (AMEX: ECF) today reported portfolio data for the month ended February 29, 2008. Data is based on market value. Holdings may change without notice.

Ten Largest Investment Holdings by underlying common stock
                                                 % of Net Assets
Prudential Financial, Inc.                                   3.4
LSB Industries, Inc.                                         2.9
Bristol-Myers Squibb Co.                                     2.6
Freeport-McMoRan Copper & Gold Inc.                          2.6
The Walt Disney Company                                      2.5
Chesapeake Energy Corp.                                      2.3
Companhia Vale do Rio Doce                                   2.3
St. Jude Medical, Inc.                                       2.2
New York Community Bancorp, Inc.                             2.1
Wyeth                                                        1.8

Major Industry Exposure
                                                 % of Net Assets
Energy                                                      13.9
Pharmaceuticals                                             10.0
Insurance                                                    8.5
Semiconductors                                               6.2
Telecommunications                                           6.1
Minerals and Mining                                          5.8
Computer Hardware                                            5.5
Consumer Goods                                               5.4
Banking/Savings and Loan                                     4.1
Health Care                                                  3.6


Portfolio Composition
                                                 % of Net Assets
Convertible Bonds and Notes                                 54.1
Corporate Bonds and Notes                                    1.0
Convertible Preferred Stocks                                 8.4
Mandatory Convertible Securities                            24.9
Common Stocks                                                2.3
Cash and Equivalents                                         9.3
   TOTAL NET ASSETS                                        100.0

Portfolio Ratings from Moody's
From S&P when Moody's is unavailable
                                                 % of Net Assets
Aa                                                             4
A                                                             20
Baa                                                           15
Ba                                                             3
B                                                             21
Caa                                                            4
NR                                                            31
Common Stocks                                                  2

Data is unaudited and as of February 29, 2008. This selected information should be read in conjunction with the financial statements and notes included in the Fund's Annual Report to Shareholders for the twelve months ended September 30, 2007.

Detailed quarterly portfolio information, as of December 31, 2007 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 American Stock Exchange under the ticker symbol ECF.

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