The Board of Trustees of The Gabelli Utility Trust (NYSE:GUT) (the "Fund") approved the continuation of its policy of paying fixed monthly cash distributions. The Board of Trustees declared cash distributions of $0.05 per share for each of July, August, and September 2020.

Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Gabelli Utility Trust and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

Gabelli Funds, LLC announces that, due to the public health impact of the COVID-19 pandemic and to support the health and well-being of its Funds’ shareholders and stockholders, employees, and trustees and directors, as well as their families and communities, it will host the originally planned in-person 2020 Annual Meetings of Shareholders and Stockholders (the "Annual Meetings") at the Westchester Country Club, as virtual meetings.

For the first time in years, valuations -- not black swans or politics or the Fed -- are a challenge.