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Ellsworth Fund Ltd. Declares Quarterly Dividend and Announces Results of Annual Shareholders' Meeting

MORRISTOWN, NJ -- (Marketwire) -- 01/18/13 -- The Board of Trustees of Ellsworth Fund Ltd. (NYSE MKT: ECF) today declared the Fund's one hundred and sixth quarterly dividend.

The 6.3 cents ($0.063) per share dividend is payable from net investment income on February 27, 2013 to shareholders of record February 13, 2013.

The following actions were taken at the Annual Shareholders' meeting held on Friday, January 18th: (1) two trustees were elected and (2) the selection of Tait, Weller & Baker LLP as independent auditors for the 2013 fiscal year was ratified.

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 NYSE MKT Exchange under the ticker symbol ECF.

CUSIP# 289 074 106

For further information please contact:

Gary I. Levine
Chief Financial Officer
Ph. (973) 631-1177
Fax (973) 631-9893

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