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Gabelli Multimedia Trust Reaffirms Its 10% Distribution Policy And Declares Fourth Quarter Distribution Of $0.32 Per Share; The Fund Also Raises First Quarter 2014 Distribution To $0.22 Per Share From $0.20 Per Share

The Board of Directors of The Gabelli Multimedia Trust Inc. (NYSE:GGT) (the “Fund”) reaffirmed its 10% distribution policy and declared a $0.32 per share cash distribution payable on December 19, 2013 to common stock shareholders of record on December 13, 2013. With this fourth quarter distribution, the total distributions from the Fund would equate to $0.92 per share for 2013, an increase from total distributions paid in 2012 of $0.80 per share. The Fund paid distributions of $0.20 per share in each of the first, second, and third quarters of 2013.

The Fund intends to pay a quarterly distribution of an amount determined each quarter by the Board of Directors. Under the Fund’s current distribution policy, the Fund intends to pay a minimum annual distribution of 10% of the average net asset value of the Fund within a calendar year or an amount sufficient to satisfy the minimum distribution requirements of the Internal Revenue Code for regulated investment companies. The average net asset value of the Fund is based on the average net asset values as of the last day of the four preceding calendar quarters during the year. We note that 10% of the average net asset value of the Fund is $0.92 based on the ending net asset values per share as of December 31, 2012, March 31, 2013, June 30, 2013, and September 30, 2013 of $8.22, $9.15, $9.17, and $10.12, respectively. The net asset value per share fluctuates daily.

Additionally, the Board of Directors authorized an increase of the cash distribution to $0.22 per share from $0.20 per share for the first quarter of 2014.

Each quarter, the Board of Directors reviews the amount of any potential distribution from the income, realized capital gain, or capital available. The Board of Directors will continue to monitor the Fund’s distribution level, taking into consideration the Fund’s net asset value and the financial market environment. The Fund’s distribution policy is subject to modification by the Board of Directors at any time, and there can be no guarantee that the policy will continue. The distribution rate should not be considered the dividend yield or total return on an investment in the Fund.

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