MORRISTOWN, NJ -- (Marketwire) -- 07/19/12 -- The Board of Trustees of Ellsworth Fund Ltd. (NYSE MKT: ECF) today declared the Fund's one hundred and fourth quarterly dividend.

The 6.25 cents ($0.0625) per share dividend is payable from net investment income on August 30, 2012 to shareholders of record August 16, 2012.

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 LLC 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
info@ellsworthfund.com
www.ellsworthfund.com

Source: Ellsworth Fund Ltd.