Ellsworth Fund Ltd. Announces Earnings and Financial Update
Davis-Dinsmore Management Company


Morristown, NJ, October 25, 2007 -- Ellsworth Fund Ltd. (AMEX - ECF) today reported financial highlights and certain portfolio information for the twelve months ended September 30, 2007.

	Three Months Ended September 30		Twelve Months Ended September 30
Earnings Report	2007	2006	2007	2006
Net Income	$858,000	$1,057,000	$4,205,000	$4,129,000
Per Share	$0.07	$0.09	$0.33	$0.33
Shares Outstanding	12,659,098	12,429,083	12,659,098	12,429,083
Total Net Assets	$129,952,000	$119,264,000	$129,952,000	$119,264,000
Net Asset Value Per Share	$10.27	$9.60	$10.27	$9.60

Fund Statistics as of September 30, 2007			Top Ten Holdings by underlying common stock as of September 30, 2007
				% of Net Assets
Market price	$9.09		Freeport-McMoRan Copper & Gold Inc.	2.7
Net asset value (NAV)	$10.27		LSB Industries, Inc.	2.5
Premium/(Discount)	(11.49)%		Prudential Financial, Inc.	2.4
Total Net Assets	$129,952,000		Bristol-Myers Squibb Co.	2.3
12-Month income distribution	$0.39		LSI Corp.	2.3
Yield on market price	4.29%		The Walt Disney Company	2.3
Ratio of expenses	1.10%		Nabors Industries Ltd.	2.2
Ratio of net income	3.39%		Companhia Vale do Rio Doce	2.1
Portfolio Turnover	84.27%		MetLife, Inc.	2.1
Shares outstanding	12,659,098		New York Community Bancorp, Inc.	2.1
Major Industry Exposure as of September 30, 2007	% of Net Assets		Portfolio Ratings from Moody's as of September 30, 2007
Energy	14.5		(From S&P when Moody's is unavailable)	% of Portfolio
Insurance	9.3		Aa	8
Pharmaceuticals	9.3		A	19
Semiconductors	7.0		Baa	16
Banking/Savings and Loan	6.0		Ba	7
Minerals and Mining	5.6		B	19
Computer Hardware	5.2		Caa	1
Telecommunications	4.8		NR	30
Health Care	4.4
Aerospace and Defense	4.0
Asset Allocation as of September 30, 2007	% of Net Assets
Convertible Bonds and Notes	59.1
Corporate Bonds and Notes	1.1
Convertible Preferred Stock	8.9
Mandatory Convertible Securities	27.7
Short-term Securities	2.5
Other Assets	0.7

Data is unaudited and as of September 30, 2007. This selected information should be read in conjunction with the financial statements and notes included in the Company's Semi-Annual Report to Shareholders for the six months ended March 31, 2006.

Detailed portfolio information is available on their website (http://www.ellsworthfund.com). Contact Ellsworth Fund by e-mail at info@ellsworthfund.com or at (973) 631-1177.

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 American Stock Exchange under the ticker symbol ECF.


Click for more information on Davis-Dinsmore Management Company or other Closed-End Funds