Market Overview

Gabelli Multimedia Trust Reaffirms Its 10% Distribution Policy and Declares Third Quarter Distribution of $0.22 Per Share

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The Board of Directors of The Gabelli Multimedia Trust Inc. (NYSE:GGT)
(the "Fund") reaffirmed its 10% distribution policy and declared a $0.22
per share cash distribution payable on September 21, 2018 to common
stock shareholders of record on September 14, 2018.

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. The net asset value per share
fluctuates daily.

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.

All or part of the distribution may be treated as long-term capital gain
or qualified dividend income (or a combination of both) for individuals,
each subject to the maximum federal income tax rate, which is currently
20% in taxable accounts for individuals (or less depending on an
individual's tax bracket). In addition, certain U.S. shareholders who
are individuals, estates or trusts and whose income exceeds certain
thresholds will be required to pay a 3.8% Medicare surcharge on their
"net investment income", which includes dividends received from the Fund
and capital gains from the sale or other disposition of shares of the
Fund.

If the Fund does not generate sufficient earnings (dividends and
interest income and realized net capital gain) equal to or in excess of
the aggregate distributions paid by the Fund in a given year, then the
amount distributed in excess of the Fund's earnings would be deemed a
return of capital. Since this would be considered a return of a portion
of a shareholder's original investment, it is generally not taxable and
is treated as a reduction in the shareholder's cost basis.

Long-term capital gains, qualified dividend income, ordinary income, and
return of capital, if any, will be allocated on a pro-rata basis to all
distributions to common shareholders for the year. Based on the
accounting records of the Fund currently available, each of the
distributions paid to common shareholders in 2018 would include
approximately 2% from net investment income, 22% from net capital gains
and 76% would be deemed a return of capital on a book basis. This does
not represent information for tax reporting purposes. The estimated
components of each distribution are updated and provided to shareholders
of record in a notice accompanying the distribution and are available on
our website (www.gabelli.com).
The final determination of the sources of all distributions in 2018 will
be made after year end and can vary from the quarterly estimates.
Shareholders should not draw any conclusions about the Fund's investment
performance from the amount of the current distribution. All
shareholders with taxable accounts will receive written notification
regarding the components and tax treatment for all 2018 distributions in
early 2019 via Form 1099-DIV.

Investors should carefully consider the investment objectives, risks,
charges, and expenses of the Fund before investing.
More
information regarding the Fund's distribution policy and other
information about the Fund is available by calling 800-GABELLI
(800-422-3554) or visiting
www.gabelli.com.

The Gabelli Multimedia Trust Inc. is a non-diversified, closed-end
management investment company with $292 million in total net assets
whose primary investment objective is long-term growth of capital. The
Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors,
Inc. (NYSE:GBL).

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