Utility Corp. Declares Monthly Dividend and Special Dividend

    TORONTO, May 7 /CNW/ - The Board of Directors of Utility Corp. (the
"Company") has today declared a regular monthly dividend distribution of $0.06
per Class C Share and a special dividend of $0.05 per Class C Share payable in
cash on May 21, 2009 to holders of record at the close of business on May 19,
    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
telecommunication 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:

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