SOURCE: Ellsworth Fund Ltd.

July 15, 2008 14:08 ET

Ellsworth Fund Ltd. Declares Third Quarter Dividend

MORRISTOWN, NJ--(Marketwire - July 15, 2008) - The Board of Trustees of Ellsworth Fund Ltd. (the "Fund") (AMEX: ECF) declared its eighty-eighth quarterly dividend today.

The nine cents ($0.09) per share dividend is payable from net investment income on August 28, 2008 to shareholders of record August 14, 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. Fund shares are traded on the American Stock Exchange under the ticker symbol ECF.

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