MORRISTOWN, NJ--(Marketwire - Nov 17, 2011) - Ellsworth Fund Ltd. (NYSE Amex: [ ECF ]) announced today that the price at which its beneficial shares will be issued to shareholders who elected to receive additional shares in payment of the 2011 year-end dividend will be $6.56 per share. The issue price represents the closing price of the shares on the NYSE Amex Exchange on November 16, 2011, which was below the net asset value of $7.79 per share on that date. The dividend is payable on November 23, 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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