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Ellsworth Fund Ltd. Announces Issue Price for the 2013 Year-End Dividend Payable on November 27, 2013

November 22, 2013 - Morristown, NJ

Ellsworth Fund Ltd. (NYSE MKT: 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 2013 year-end dividend will be $8.03 per share. The issue price represents the closing price of the shares on the NYSE MKT Exchange on November 20, 2013, which was below the net asset value of $9.64 per share on that date. The dividend is payable on November 27, 2013.

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 Exchange 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


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