GUT-PRA

The Gabelli Utility Trust (the Fund) is a diversified, closed-end management investment company. The Fund's primary objective is long term growth of capital and income. The Fund will invest 80% of its assets in common stocks and other securities of foreign and domestic companies involved in providing products, services, or equipment for the generation or distribution of electricity, gas and water, and telecommunications services or infrastructure operations (the 80% Policy). The 80% Policy may be changed without shareholder approval. Its portfolio of sectors includes electric integrated, natural gas utilities, cable and satellite, telecommunications, water, natural gas integrated, global utilities, wireless communications, electric transmission and distribution, entertainment, merchant energy, natural resources, aerospace, environmental services, independent power producers and energy traders, and equipment and supplies. Gabelli Funds, LLC serves as the investment advisor of the Fund.