To: Findit who wrote (13449 ) 8/18/2003 3:36:16 PM From: Bucky Katt Read Replies (2) | Respond to of 48461 Jim, GUT is trading ex-rights>> RYE, N.Y.--(BUSINESS WIRE)--Aug. 12, 2003--The Gabelli Utility Trust (the "Trust") announced initial terms of its Rights Offering that was originally announced on May 23, 2003. The Trust has filed a registration statement with the Securities and Exchange Commission. The record date for the Rights Offering will be August 20, 2003. Pursuant to the Offer, the Trust will distribute to shareholders of record one transferable Right for each share of its common stock held on the record date. Three Rights will enable a shareholder to purchase one additional share of stock at $7.00 per share (the "Subscription Price"), without brokerage commissions. Rights may be exercised at any time during the subscription period. The Rights will be transferable, with the subscription period commencing on August 20, 2003 (the record date) and terminating 34 days later on September 23, 2003 (the expiration date), unless extended up to ten business days thereafter. Shareholders of record who exercise their primary subscription Rights will be eligible for an over-subscription privilege entitling these shareholders to subscribe, subject to certain limitations and a pro-rata allotment, for any additional shares not purchased pursuant to the primary subscription. In addition, under certain circumstances, the Trust may issue additional shares of common stock to satisfy over-subscription requests by shareholders of record in excess of the shares available for the over-subscription privilege. It is expected that the Rights will trade regular way on the New York Stock Exchange beginning August 22, 2003 at which time shareholders may sell their Rights at the then current market value. It is expected that the Utility Trust common shares will trade "Ex-Rights" on August 18, 2003. _____________ Hec looks like it could pop into .50+