Utility Corp. Declares Quarterly Dividends and Considers Reorganization Proposal



    TORONTO, Dec. 12 /CNW/ - The Board of Directors of Utility Corp. (the
"Company") has today declared a regular monthly dividend distribution of
$0.175 per Class C Share payable on December 31, 2007 to holders of record at
the close of business on December 24, 2007.
    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.
    The Company is scheduled to terminate on May 21, 2008. The Board of
Directors is currently reviewing alternatives to termination, including a
possible extension of the term of the Company, but there can be no assurance
that any alternative will materialize.

    Utility Corp. is a mutual fund corporation whose investment portfolio
consists of publicly listed securities of selected Canadian utility 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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