Utility Corp. Declares Monthly Dividend



    TORONTO, June 12 /CNW/ - The Board of Directors of Utility Corp. (the
"Company") has today declared a regular monthly dividend of $0.06 per Class C
Share payable on June 30, 2008 to holders of record at the close of business
on June 25, 2008. This represents the initial distribution in line with the
Company's recently approved extension under which the portfolio was
re-balanced to include 14 selected issuers in the electrical, power and
pipeline utilities and telecommunications sectors of the Toronto Stock
Exchange with each held on an initial approximately equal weight basis. In
addition, the dividend reflects the subdivision of the Class C Shares on a
three-for-one basis.
    Shareholders are entitled to receive dividends as declared by the Board
of Directors of Utility Corp. It is the Company's policy to declare and pay
equal monthly dividends on the outstanding Class C Shares based on revenue
received less expenses.

    Utility Corp. is a mutual fund corporation whose investment portfolio
consists of publicly listed securities of selected Canadian utility and
telecom issuers. The Class C Shares of Utility Corp. are listed for trading on
the Toronto Stock Exchange under the symbol UTC.C.

    %SEDAR: 00002724E




For further information:

For further information: Investor Relations: Utility Corp., (416)
863-7893, E-mail: mc_utility@scotiacapital.com, Web site:
www.scotiamanagedcompanies.com


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