MORRISTOWN, NJ--(MARKET WIRE)--Jan 12, 2009 -- Ellsworth Fund Ltd. (AMEX:ECF - News) today reported dividend and tax information for the year ended December 31, 2008.

 
                                              Short-  Long-
Record   Payment Total    Ordinary  Qualified Term    Term     Dividend
Date     Date    Paid Per Income    Dividends Capital Capital  Reinvestment
2008     2008    Share    Dividends  (QDI)    Gain    Gain     Price
-------  ------- -------- --------- --------- ------- -------  ------------
Feb. 14  Feb. 28  $0.090   $0.090   $0.017264     $--     $--       $8.0196
May  15  May  29   0.090    0.090    0.018684      --      --        8.2209
Aug. 14  Aug. 28   0.090    0.090    0.018403      --      --        7.3257
Oct. 23  Nov. 26   0.103    0.103    0.025802      --      --        4.2600
                 -------- --------- --------- ------- -------
                   0.373    0.373    0.080153      --      --

The portion of each ordinary income dividend qualifying for the corporate dividends-received deduction, allowable to certain corporate shareholders, was 21%.

None of the dividends paid during the year represented a return of capital.

There were no year-end reallocations or reclassifications of income or gains.

There was no interest earned on direct obligations of the U.S. Government.

Further financial details are available on the Company's website: www.ellsworthfund.com.

Cusip 289074106

     For further information please contact:
     Gary I. Levine
     Exec. VP & CFO
     Ph. (973) 631-1177
     Fax (973) 631-9893
     http://www.ellsworthfund.com