MORRISTOWN, NJ--(Marketwire - Oct 17, 2011) - The Board of Trustees of Ellsworth Fund Ltd. (NYSE Amex: [ ECF ]) today declared the Fund's one hundred and first quarterly dividend.

The $0.061 per share dividend is payable from net investment income on November 23, 2011 to shareholders of record October 28, 2011.

Shareholders who are not members of the Fund's Automatic Dividend Investment Plan will be given the option to receive the distribution either in cash or in beneficial shares of the Trust. Because of this option, the dividend is taxable to all shareholders whether or not they choose to receive cash. Expiration date is November 18, 2011.

SHAREHOLDERS MEETING DATE: The trustees also set January 13, 2012 as the date of the annual shareholders meeting, with a record date of November 18, 2011.

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 Amex Exchange under the ticker symbol ECF.

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