-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 QeyvCDBuPR/KVHHsC5TGQAZZuSYBLr1L+n5OxpVSbbjIIXhV998IlDfXW7YklIfL
 V0cZAdZexqnWRNEPQbN/Xw==

<SEC-DOCUMENT>0000950123-10-109094.txt : 20101129
<SEC-HEADER>0000950123-10-109094.hdr.sgml : 20101129
<ACCEPTANCE-DATETIME>20101129111912
ACCESSION NUMBER:		0000950123-10-109094
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		5
CONFORMED PERIOD OF REPORT:	20100930
FILED AS OF DATE:		20101129
DATE AS OF CHANGE:		20101129
EFFECTIVENESS DATE:		20101129

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GABELLI GLOBAL UTILITY & INCOME TRUST
		CENTRAL INDEX KEY:			0001282957
		IRS NUMBER:				320116828
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21529
		FILM NUMBER:		101217709

	BUSINESS ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		8149219105

	MAIL ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>g07017nvq.htm
<DESCRIPTION>FORM N-Q
<TEXT>
<HTML>
<HEAD>
<TITLE>nvq</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM N-Q</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED <br>MANAGEMENT INVESTMENT COMPANY</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Investment Company Act file number <U>811-21529</U></B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>The Gabelli Global Utility &#038; Income Trust</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV> (Exact name of registrant as specified in charter)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">One Corporate Center<BR>
Rye, New York 10580-1422<BR>
<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV> (Address of principal executive offices) (Zip code)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Bruce N. Alpert<BR>
Gabelli Funds, LLC<BR>
One Corporate Center<BR>
Rye, New York 10580-1422<BR>
<DIV style="width: 100%; border-bottom: 1px solid #000000; FONT-size: 1px">&nbsp;</DIV> (Name and address of agent for service)</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Registrant&#146;s telephone number, including area code: <U>1-800-422-3554</U></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Date of
fiscal year end: <U>December&nbsp;31</U></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">Date of
reporting period: <U>September&nbsp;30, 2010</U></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Form&nbsp;N-Q is to be used by management investment companies, other than small business investment
companies registered on Form N-5 (&#167;&#167; 239.24 and 274.5 of this chapter), to file reports with the
Commission, not later than 60&nbsp;days after the close of the first and third fiscal quarters, pursuant
to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use
the information provided on Form N-Q in its regulatory, disclosure review, inspection, and
policymaking roles.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">A registrant is required to disclose the information specified by Form N-Q, and the Commission will
make this information public. A registrant is not required to respond to the collection of
information contained in Form N-Q unless the Form displays a currently valid Office of Management
and Budget (&#147;OMB&#148;) control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the burden to the
Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has
reviewed this collection of information under the clearance requirements of 44 U.S.C. &#167; 3507.
</DIV>


<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>





<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<!--TOC-->
<!--/TOC-->




<!-- link2 "Item&nbsp;1. Schedule of Investments" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1. Schedule of Investments.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Schedule(s) of Investments is attached herewith.
</DIV>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="75%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>The Gabelli Global Utility &#038; Income Trust</B><br>
Third Quarter Report<br>
September&nbsp;30, 2010
</DIV></TD>
    <TD>&nbsp;</TD>

<TD align="right" valign="bottom"><IMG src="g07017g0701701.jpg" alt="(PHOTO OF MARIO J. GABELLI)"><BR>
Mario J. Gabelli, CFA</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>To Our Shareholders,</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Gabelli Global Utility &#038; Income Trust&#146;s (the &#147;Fund&#148;) net asset value (&#147;NAV&#148;) total return
was 13.2% during the third quarter of 2010, compared with gains of 12.4% and 12.3% for the Standard
&#038; Poor&#146;s (&#147;S&#038;P&#148;) Utilities Index and the Lipper Utility Fund Average, respectively. The total
return for the Fund&#146;s publicly traded shares was 10.2% during the third quarter of 2010.
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Enclosed is the investment portfolio as of September&nbsp;30, 2010.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Comparative Results</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U><B>Average Annual Returns through September&nbsp;30, 2010 (a) (Unaudited)</B></U>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Since</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Year to</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">Inception</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Quarter</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Date</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">1 Year</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">3 Year</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">5 Year</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">(05/28/04)</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD nowrap><DIV style="margin-left:15px; text-indent:-15px"><B>Gabelli Global Utility &#038; Income Trust</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>NAV Total Return (b)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">13.23</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">5.85</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">11.56</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(1.28</TD>
    <TD nowrap>)%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">4.67</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">7.12</TD>
    <TD nowrap>%</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>Investment Total Return (c)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10.21</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8.70</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">20.46</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.02</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">7.21</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">6.98</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">S&#038;P 500 Index</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11.30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.91</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">10.18</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(7.15</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.36</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">S&#038;P 500 Utilities Index</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12.35</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.32</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">11.90</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(3.75</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.51</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8.74</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Lipper Utility Fund Average</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">12.34</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.32</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9.33</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="right">&nbsp;</TD>
    <TD align="right">(5.90</TD>
    <TD nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2.74</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8.08</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(a)</TD>
    <TD>&nbsp;</TD>
    <TD><B><I>Returns represent past performance and do not guarantee future results. </I></B><I>Investment returns
and the principal value of an investment will fluctuate. When shares are sold, they may be
worth more or less than their original cost. Current performance may be lower or higher than
the performance data presented. Visit www.gabelli.com for performance information as of the
most recent month end. Performance returns for periods of less than one year are not
annualized. </I><B><I>Investors should carefully consider the investment objectives, risks, charges, and
expenses of the Fund before investing. </I></B><I>The S&#038;P 500 Index is an unmanaged indicator of stock
market performance. The S&#038;P 500 Utilities Index is an unmanaged indicator of electric and gas
utility stock performance. The Lipper Utility Fund Average reflects the average performance of open-end mutual funds
classified in this particular category. Dividends are considered reinvested. You cannot invest
directly in an index.</I></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(b)</TD>
    <TD>&nbsp;</TD>
    <TD><I>Total returns and average annual returns reflect changes in the NAV per share and
reinvestment of distributions at NAV on the ex-dividend date and are net of expenses. Since
inception return is based on an initial NAV of $19.06.</I></TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(c)</TD>
    <TD>&nbsp;</TD>
    <TD><I>Total returns and average annual returns reflect changes in closing market values on the NYSE
Amex and reinvestment of distributions. Since inception return is based on an initial offering
price of $20.00.</I></TD>
</TR>

</TABLE>


<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We have separated the portfolio manager&#146;s commentary from the financial statements and investment
portfolio due to corporate governance regulations stipulated by the Sarbanes-Oxley Act of 2002. We
have done this to ensure that the content of the portfolio manager&#146;s commentary is unrestricted.
The financial statements and investment portfolio are mailed separately from the commentary. Both
the commentary and the financial statements, including the portfolio of investments, will be
available on our website at www.gabelli.com.
</DIV>

</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THE GABELLI GLOBAL UTILITY &#038; INCOME TRUST<BR>
SCHEDULE OF INVESTMENTS<BR>
September&nbsp;30, 2010 (Unaudited)</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Market</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Value</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>COMMON STOCKS &#151; 95.7%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ENERGY AND UTILITIES &#151; 69.7%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Energy and Utilities: Alternative Energy &#151; 0.3%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">7,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ormat Technologies Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">204,190</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Energy and Utilities: Electric Transmission and
Distribution &#151; 5.7%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">8,775</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">National Grid plc, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">375,043</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3,500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Red Electrica Corporacion SA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">164,589</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">CH Energy Group Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">176,640</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Consolidated Edison Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">96,440</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">5,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Northeast Utilities</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">147,850</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">46,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">NSTAR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,810,100</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">38,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Pepco Holdings Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">706,800</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,666</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">UIL Holdings Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">46,915</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,524,377</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Energy and Utilities: Integrated &#151; 45.5%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">150,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">A2A SpA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">230,049</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">600</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Areva SA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">252,011</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">9,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chubu Electric Power Co. Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">222,413</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">152,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Datang International Power
Generation Co. Ltd., Cl. H</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">63,473</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,700</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">E.ON AG</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">79,615</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">9,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">E.ON AG, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">265,770</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">9,760</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">EDP &#151; Energias de Portugal SA, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">333,499</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Electric Power Development Co. Ltd.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">300,671</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">5,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Emera Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">143,794</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Endesa SA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">267,675</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">68,400</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Enel SpA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">364,594</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">29,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Enersis SA, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">681,790</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">140,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Hera SpA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">267,007</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Hokkaido Electric Power Co. Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">199,090</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Hokuriku Electric Power Co.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">228,318</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">14,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Huaneng Power International Inc., ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">346,640</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">77,884</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Iberdrola SA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">599,148</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">12,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Iberdrola SA, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">367,920</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">International Power plc</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">18,285</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">28,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Korea Electric Power Corp., ADR&#134;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">362,040</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Kyushu Electric Power Co. Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">228,318</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shikoku Electric Power Co. Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">286,895</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">The Chugoku Electric Power Co. Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">197,293</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">16,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">The Kansai Electric Power Co. Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">388,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">The Tokyo Electric Power Co. Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">243,891</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Tohoku Electric Power Co. Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">221,131</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4,500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Verbund AG</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">161,341</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Allegheny Energy Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">49,040</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">ALLETE Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">72,860</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">20,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Ameren Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">568,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">30,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">American Electric Power Co. Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,086,900</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Avista Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">31,320</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">8,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Black Hills Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">249,600</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cleco Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,810</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">CMS Energy Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,010</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dominion Resources Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">480,260</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">50,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">DPL Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,306,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">38,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Duke Energy Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">672,980</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">El Paso Electric Co.&#134;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">95,120</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">50,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Great Plains Energy Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">945,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">22,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Hawaiian Electric Industries Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">495,880</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">29,500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Integrys Energy Group Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,535,770</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">8,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Maine &#038; Maritimes Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">359,200</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">15,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">MGE Energy Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">593,850</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">14,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">NextEra Energy Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">761,460</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">45,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">NiSource Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">783,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">13,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">NorthWestern Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">370,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">19,500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">OGE Energy Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">777,465</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Otter Tail Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">203,900</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">PG&#038;E Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45,420</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">16,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Pinnacle West Capital Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">660,320</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4,200</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">PPL Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">114,366</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">31,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Progress Energy Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,377,020</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">32,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Public Service Enterprise Group Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,058,560</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">18,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">SCANA Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">725,760</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">45,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Southern Co.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,675,800</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">TECO Energy Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">17,320</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">30,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">The AES Corp.&#134;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">340,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">The Empire District Electric Co.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">40,300</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">15,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">UniSource Energy Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">501,450</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">17,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vectren Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">439,790</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">40,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Westar Energy Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">969,200</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">5,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Wisconsin Energy Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">289,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">40,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Xcel Energy Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">918,800</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,957,202</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Energy and Utilities: Natural Gas Integrated &#151; 5.4%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">80,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Snam Rete Gas SpA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">405,159</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">50,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">El Paso Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">619,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Energen Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">45,720</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">18,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">National Fuel Gas Co.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">932,580</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">ONEOK Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">90,080</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">24,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Southern Union Co.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">577,440</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">30,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Spectra Energy Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">676,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,346,479</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Energy and Utilities: Natural Gas Utilities &#151; 4.3%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Enagas</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">30,397</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,890</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">GDF Suez</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">67,660</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11,454</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">GDF Suez, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">411,199</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6,867</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">GDF Suez, Strips</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">See accompanying notes to schedule of investments.
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->2<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THE GABELLI GLOBAL UTILITY &#038; INCOME TRUST<BR>
SCHEDULE OF INVESTMENTS (Continued)<BR>
September&nbsp;30, 2010 (Unaudited)</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Shares/<BR>
Units</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Market<BR>
Value</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>COMMON STOCKS (Continued)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ENERGY AND UTILITIES (Continued)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Energy and Utilities: Natural
Gas Utilities
(Continued)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">14,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Atmos Energy Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">409,500</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4,050</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chesapeake Utilities Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">146,691</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">20,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Nicor Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">916,400</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">5,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Piedmont Natural Gas Co. Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">145,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Southwest Gas Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">335,900</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">5,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">The Laclede Group Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">172,100</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,634,856</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Energy and Utilities: Oil &#151; 3.0%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Dragon Oil plc&#134;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">69,159</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Niko Resources Ltd.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">98,416</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,200</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">PetroChina Co. Ltd., ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">256,124</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">11,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Petroleo Brasileiro SA, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">398,970</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">9,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Royal Dutch Shell plc, Cl. A, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">542,700</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Chevron Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">162,100</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">ConocoPhillips</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">114,860</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Devon Energy Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">129,480</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Exxon Mobil Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">61,790</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,833,599</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Energy and Utilities: Services &#151; 0.5%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">ABB Ltd., ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">211,200</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Halliburton Co.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">82,675</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">293,875</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Energy and Utilities: Water &#151; 3.5%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Consolidated Water Co. Ltd.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">14,220</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">49,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Severn Trent plc</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,009,127</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">37,090</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">United Utilities Group plc</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">333,855</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">8,666</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Aqua America Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">176,786</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,700</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">California Water Service Group</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">99,765</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Middlesex Water Co.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">67,360</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">17,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">SJW Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">418,710</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,119,823</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Diversified Industrial &#151; 0.6%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">9,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Bouygues SA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">386,298</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Environmental Services &#151; 0.5%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Suez Environnement Co. SA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">9,236</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">12,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Veolia Environnement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">316,056</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">325,292</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Independent Power Producers and Energy Traders &#151; 0.4%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">12,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">NRG Energy Inc.&#134;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">249,840</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL ENERGY AND UTILITIES</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">42,875,831</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>COMMUNICATIONS &#151; 22.1%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Cable and Satellite &#151; 5.4%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">5,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">British Sky Broadcasting Group plc</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">55,413</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cogeco Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">306,152</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Rogers Communications Inc., Cl. B</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">93,575</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">5,400</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Zon Multimedia Servicos de
Telecomunicacoes e Multimedia
SGPS SA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">21,349</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">25,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cablevision Systems Corp., Cl. A</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">654,750</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">30,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">DIRECTV, Cl. A&#134;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,248,900</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">30,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">DISH Network Corp., Cl. A</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">574,800</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">EchoStar Corp., Cl. A&#134;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">114,480</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4,580</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Liberty Global Inc., Cl. A&#134;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">141,110</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Liberty Global Inc., Cl. C&#134;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">122,240</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,332,769</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Telecommunications &#151; 13.7%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">26,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">BCE Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">845,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Belgacom SA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">155,983</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,102</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Bell Aliant Regional Communications
Income Fund (a)(b)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52,851</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">26,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">BT Group plc, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">569,920</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">38,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Deutsche Telekom AG, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">517,940</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">France Telecom SA, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">129,180</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">8,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Manitoba Telecom Services Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">219,419</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">29,651</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Orascom Telecom Holding SAE, GDR&#134;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">128,715</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">50,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Portugal Telecom SGPS SA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">667,312</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">15,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Royal KPN NV, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">234,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">1,300</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Swisscom AG</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">524,286</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">20,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Telecom Italia SpA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">27,947</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">17,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Telefonica SA, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,260,550</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">14,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Telefonos de Mexico SAB de CV,
Cl. L, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">209,020</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">17,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Telekom Austria AG</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">255,855</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">16,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">VimpelCom Ltd., ADR&#134;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">237,600</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">31,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">AT&#038;T Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">886,600</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">70,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sprint Nextel Corp.&#134;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">324,100</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Telephone &#038; Data Systems Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">328,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">25,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Verizon Communications Inc.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">814,750</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">8,389,028</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt">See accompanying notes to schedule of investments.
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->3<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THE GABELLI GLOBAL UTILITY &#038; INCOME TRUST<BR>
SCHEDULE OF INVESTMENTS (Continued)<BR>
September&nbsp;30, 2010 (Unaudited)</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Market</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Value</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>COMMON STOCKS (Continued)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>COMMUNICATIONS (Continued)</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Wireless Communications &#151; 3.0%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">America Movil SAB de CV, Cl. L, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">106,660</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">12,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Millicom International Cellular SA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,151,400</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Mobile TeleSystems OJSC, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">84,920</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">10,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Turkcell Iletisim Hizmetleri A/S, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">167,600</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vivo Participacoes SA, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">163,020</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">8,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vodafone Group plc, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">198,480</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,872,080</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL COMMUNICATIONS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">13,593,877</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>OTHER &#151; 3.9%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Aerospace &#151; 1.4%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">90,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Rolls-Royce Group plc&#134;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">853,231</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Building and Construction &#151; 0.0%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">400</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Acciona SA</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">33,787</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Business Services &#151; 0.2%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sistema JSFC, GDR (c)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">108,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Entertainment &#151; 1.3%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">30,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Vivendi</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">819,996</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Metals and Mining &#151; 0.5%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6,400</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Compania de Minas Buenaventura SA, ADR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">289,152</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Real Estate &#151; 0.3%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">6,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Brookfield Asset Management Inc., Cl. A</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">170,220</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Transportation &#151; 0.2%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">3,500</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">GATX Corp.</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">102,620</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL OTHER</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,377,006</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL COMMON STOCKS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58,846,714</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>CONVERTIBLE PREFERRED STOCKS &#151; 0.2%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>COMMUNICATIONS &#151; 0.1%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Telecommunications &#151; 0.1%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Cincinnati Bell Inc., 6.750% Cv. Pfd., Ser. B</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">78,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>OTHER &#151; 0.1%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Transportation &#151; 0.1%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">200</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">GATX Corp., $2.50 Cv. Pfd., Ser. A (a)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,300</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL CONVERTIBLE
PREFERRED STOCKS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">107,300</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>WARRANTS &#151; 0.1%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>COMMUNICATIONS &#151; 0.1%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Wireless Communications &#151; 0.1%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>Non U.S. Companies</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">4,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Bharti Airtel Ltd., expire 09/19/13&#134; (b)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">32,600</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">2,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Bharti Airtel Ltd., expire 09/29/14&#134; (b)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">16,300</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48,900</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL WARRANTS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48,900</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="2"><B>Principal</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Amount</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>U.S. GOVERNMENT OBLIGATIONS &#151; 4.0%</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">$</TD>
    <TD valign="top" align="right">2,485,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">U.S. Treasury Bills, 0.120% to 0.185%&#134;&#134;,
11/04/10 to 03/17/11</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,484,318</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD colspan="5"><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL INVESTMENTS &#151; 100.0%</B>
<br>(Cost $53,430,574)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">61,487,232</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Aggregate tax cost</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">53,492,852</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross unrealized appreciation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">10,480,944</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Gross unrealized depreciation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">(2,486,564</TD>
    <TD nowrap>)</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Net unrealized appreciation/depreciation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">7,994,380</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top" align="left">&nbsp;</TD>
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(a)</TD>
    <TD>&nbsp;</TD>
    <TD>Security fair valued under procedures established by the Board of Trustees. The procedures may
include reviewing available financial information about the company and reviewing the valuation of
comparable securities and other factors on a regular basis. At September&nbsp;30, 2010, the market value
of fair valued securities amounted to $82,151 or 0.13% of total investments.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(b)</TD>
    <TD>&nbsp;</TD>
    <TD>Security exempt from registration under Rule&nbsp;144A of the Securities Act of 1933, as amended.
These securities may be resold in transactions exempt from registration, normally to qualified
institutional buyers. At September&nbsp;30, 2010, the market value of Rule&nbsp;144A securities amounted to
$101,751 or 0.17% of total investments.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">(c)</TD>
    <TD>&nbsp;</TD>
    <TD>Security purchased pursuant to Regulation&nbsp;S under the Securities Act of 1933, which exempts
from registration securities offered and sold outside of the United States. Such a security cannot
be sold in the United States without either an effective registration statement filed pursuant to
the Securities Act of 1933, or pursuant to an exemption from registration. At September&nbsp;30, 2010,
the market value of the Regulation&nbsp;S security amounted to $108,000 or 0.18% of total investments,
which was valued under methods approved by Board of Trustees as follows:</TD>
</TR>

</TABLE>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>09/30/10</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3"><B>Acquisition</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Acquisition</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Acquisition</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Carrying Value</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Issuer</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Cost</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Per Unit</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" align="right">&nbsp;</TD>
    <TD valign="top" align="right">4,000</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="margin-left:15px; text-indent:-15px">Sistema JSFC, GDR</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">09/05/06</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">100,137</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">27.0000</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 6pt; margin-top: 0pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">&#134;</TD>
    <TD>&nbsp;</TD>
    <TD>Non-income producing security.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">&#134;&#134;</TD>
    <TD>&nbsp;</TD>
    <TD>Represents annualized yield at date of purchase.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD colspan="3">ADR American Depositary Receipt</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD colspan="3">GDR Global Depositary Receipt</TD>
</TR>

</TABLE>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="76%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>% of</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Market</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2"><B>Market</B></TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Geographic Diversification</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Value</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2" style="border-bottom: 1px solid #000000"><B>Value</B></TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">North America</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">65.5</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">40,288,640</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Europe</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">25.4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">15,593,091</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Japan</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">4.1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,516,519</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Latin America</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3.0</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,862,832</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Asia/Pacific</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1.7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">1,028,277</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Africa/Middle East</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">0.3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">197,873</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap colspan="2" align="right" style="border-top: 1px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total Investments</DIV></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
    <TD align="right">100.0</TD>
    <TD nowrap>%</TD>
    <TD>&nbsp;</TD>
    <TD align="left">$</TD>
    <TD align="right">61,487,232</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD><DIV style="margin-left:15px; text-indent:-15px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
        <TD nowrap colspan="2" align="right" style="border-top: 3px double #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">See accompanying notes to schedule of investments.
</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->4<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THE GABELLI GLOBAL UTILITY &#038; INCOME TRUST (the &#147;Fund&#148;)<BR>
NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Fund&#146;s financial statements are prepared in accordance with U.S. generally accepted
accounting principles (&#147;GAAP&#148;), which may require the use of management estimates and assumptions.
Actual results could differ from those estimates. The following is a summary of significant
accounting policies followed by the Fund in the preparation of its financial statements.
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Security Valuation. </B>Portfolio securities listed or traded on a nationally recognized securities
exchange or traded in the U.S. over-the-counter market for which market quotations are readily
available are valued at the last quoted sale price or a market&#146;s official closing price as of the
close of business on the day the securities are being valued. If there were no sales that day, the
security is valued at the average of the closing bid and asked prices or, if there were no asked
prices quoted on that day, then the security is valued at the closing bid price on that day. If no
bid or asked prices are quoted on such day, the security is valued at the most recently available
price or, if the Board of Trustees (the &#147;Board&#148;) so determines, by such other method as the Board
shall determine in good faith to reflect its fair market value. Portfolio securities traded on more
than one national securities exchange or market are valued according to the broadest and most
representative market, as determined by Gabelli Funds, LLC (the &#147;Adviser&#148;).
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Portfolio securities primarily traded on a foreign market are generally valued at the
preceding closing values of such securities on the relevant market, but may be fair valued pursuant
to procedures established by the Board if market conditions change significantly after the close of
the foreign market but prior to the close of business on the day the securities are being valued.
Debt instruments with remaining maturities of sixty days or less that are not credit impaired are
valued at amortized cost, unless the Board determines such amount does not reflect the securities&#146;
fair value, in which case these securities will be fair valued as determined by the Board. Debt
instruments having a maturity greater than sixty days for which market quotations are readily
available are valued at the average of the latest bid and asked prices. If there were no asked
prices quoted on such day, the security is valued using the closing bid price. U.S. government
obligations with maturities greater than sixty days are normally valued using a model that
incorporates market observable data such as reported sales of similar securities, broker quotes,
yields, bids, offers, and reference data. Certain securities are valued principally using dealer
quotations. Futures contracts are valued at the closing settlement price of the exchange or board
of trade on which the applicable contract is traded.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Securities and assets for which market quotations are not readily available are fair valued as
determined by the Board. Fair valuation methodologies and procedures may include, but are not
limited to: analysis and review of available financial and non-financial information about the
company; comparisons with the valuation and changes in valuation of similar securities, including a
comparison of foreign securities with the equivalent U.S. dollar value ADR securities at the close
of the U.S. exchange; and evaluation of any other information that could be indicative of the value
of the security.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The inputs and valuation techniques used to measure fair value of the Fund&#146;s investments are
summarized into three levels as described in the hierarchy below:
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Level 1 &#151; quoted prices in active markets for identical securities;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Level 2 &#151; other significant observable inputs (including quoted prices for similar securities,
interest rates, prepayment speeds, credit risk, etc.); and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Level 3 &#151; significant unobservable inputs (including the Fund&#146;s determinations as to the fair
value of investments).</TD>
</TR>



</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->5<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THE GABELLI GLOBAL UTILITY &#038; INCOME TRUST<BR>
NOTES TO SCHEDULE OF INVESTMENTS (Continued) (Unaudited)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A financial instrument&#146;s level within the fair value hierarchy is based on the lowest level of
any input both individually and in aggregate that is significant to the fair value measurement. The
inputs or methodology used for valuing securities are not necessarily an indication of the risk
associated with investing in those securities. The summary of the Fund&#146;s investments in securities
and other financial instruments by inputs used to value the Fund&#146;s investments as of September&nbsp;30,
2010 is as follows:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="64%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="7" style="border-bottom: 1px solid #000000"><B>Valuation Inputs</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Level 1</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Level 2</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Total</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Quoted</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Other Significant</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Market Value</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Prices</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Observable Inputs</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>at 9/30/10</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>INVESTMENTS IN SECURITIES:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ASSETS (Market Value):</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Common Stocks:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">COMMUNICATIONS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Telecommunications</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">Non U.S. Companies</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">5,982,727</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">52,851</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">6,035,578</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">Other Industries (a)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52,811,136</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52,811,136</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total Common Stocks</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58,793,863</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">52,851</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">58,846,714</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Convertible Preferred Stocks:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px">COMMUNICATIONS</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Telecommunications</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:60px; text-indent:-15px">U.S. Companies</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">78,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">78,000</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:30px; text-indent:-15px">OTHER</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Transportation</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:60px; text-indent:-15px">U.S. Companies</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,300</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,300</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Total Convertible Preferred Stocks</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">78,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">29,300</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">107,300</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Warrants (a)</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48,900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">48,900</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">U.S. Government Obligations</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,484,318</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">2,484,318</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>TOTAL INVESTMENTS IN SECURITIES &#151; ASSETS</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">58,871,863</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">2,615,369</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">61,487,232</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>OTHER FINANCIAL INSTRUMENTS:</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:15px; text-indent:-15px"><B>ASSETS (Unrealized Appreciation): *</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:30px; text-indent:-15px"><B>EQUITY CONTRACT</B></DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR valign="bottom" style="background: #cceeff">
    <TD><DIV style="margin-left:45px; text-indent:-15px">Contract for Difference Swap Agreement</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">17,397</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">17,397</TD>
    <TD>&nbsp;</TD>
</TR>
<TR style="font-size: 1px">
    <TD colspan="13" align="left" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 6pt; margin-top: 0pt; width: 18%; border-top: 0px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left">(a)</TD>
    <TD>&nbsp;</TD>
    <TD>Please refer to the Schedule of Investments (&#147;SOI&#148;) for the industry classifications of
these portfolio holdings.</TD>
</TR>

<TR style="font-size: 3pt"><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD nowrap align="left">*</TD>
    <TD>&nbsp;</TD>
    <TD>Other financial instruments are derivatives not reflected in the SOI, such as futures, forwards,
and swaps, which are valued at the unrealized appreciation/depreciation of the instrument.</TD>
</TR>

</TABLE>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Fund did not have significant transfers between Level 1 and Level 2 during the period
ended September&nbsp;30, 2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There were no Level 3 investments held at September&nbsp;30, 2010 or December&nbsp;31, 2009.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In January&nbsp;2010, the Financial Accounting Standards Board (&#147;FASB&#148;) issued amended guidance to
improve disclosure about fair value measurements which requires additional disclosures about
transfers between Levels 1 and 2 and separate disclosures about purchases, sales, issuances, and
settlements in the reconciliation of fair value measurements using significant unobservable inputs
(Level 3). FASB also clarified existing disclosure requirements relating to the levels of
disaggregation of fair value measurement and inputs and valuation techniques used to measure fair
value. The amended guidance is effective for financial statements for fiscal years beginning after
December&nbsp;15, 2009 and interim periods within those fiscal years. Management has adopted the amended
guidance and determined that there was no material
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->6<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THE GABELLI GLOBAL UTILITY &#038; INCOME TRUST<BR>
NOTES TO SCHEDULE OF INVESTMENTS (Continued) (Unaudited)</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">impact to the Fund&#146;s financial statements except for additional disclosures made in the notes.
Disclosures about purchases, sales, issuances, and settlements in the rollforward of activity in
Level 3 fair value measurements are effective for fiscal years beginning after December&nbsp;15, 2010
and for interim periods within those fiscal years. Management is currently evaluating the impact of
the additional disclosure requirements on the Fund&#146;s financial statements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Foreign Currency Translations. </B>The books and records of the Fund are maintained in U.S. dollars.
Foreign currencies, investments, and other assets and liabilities are translated into U.S. dollars
at the current exchange rates. Purchases and sales of investment securities, income, and expenses
are translated at the exchange rate prevailing on the respective dates of such transactions.
Unrealized gains and losses that result from changes in foreign exchange rates and/or changes in
market prices of securities have been included in unrealized appreciation/depreciation on
investments and foreign currency translations. Net realized foreign currency gains and losses
resulting from changes in exchange rates include foreign currency gains and losses between trade
date and settlement date on investment securities transactions, foreign currency transactions, and
the difference between the amounts of interest and dividends recorded on the books of the Fund and
the amounts actually received. The portion of foreign currency gains and losses related to
fluctuation in exchange rates between the initial purchase trade date and subsequent sale trade
date is included in realized gain/loss on investments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Foreign Securities. </B>The Fund may directly purchase securities of foreign issuers. Investing in
securities of foreign issuers involves special risks not typically associated with investing in
securities of U.S. issuers. The risks include possible revaluation of currencies, the inability to
repatriate funds, less complete financial information about companies, and possible future adverse
political and economic developments. Moreover, securities of many foreign issuers and their markets
may be less liquid and their prices more volatile than those of securities of comparable U.S.
issuers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Foreign Taxes. </B>The Fund may be subject to foreign taxes on income, gains on investments, or
currency repatriation, a portion of which may be recoverable. The Fund will accrue such taxes and
recoveries as applicable, based upon its current interpretation of tax rules and regulations that
exist in the markets in which it invests.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Derivative Financial Instruments. </B>The Fund may engage in various portfolio investment strategies by
investing in a number of derivative financial instruments for the purposes of increasing the income
of the Fund, hedging against changes in the value of its portfolio securities and in the value of
securities it intends to purchase, or hedging against a specific transaction with respect to either
the currency in which the transaction is denominated or another currency. Investing in certain
derivative financial instruments, including participation in the options, futures, or swap markets,
entails certain execution, liquidity, hedging, tax, and securities, interest, credit, or currency
market risks. Losses may arise if the Adviser&#146;s prediction of movements in the direction of the
securities, foreign currency, and interest rate markets is inaccurate. Losses may also arise if the
counterparty does not perform its duties under a contract, or that, in the event of default, the
Fund may be delayed in or prevented from obtaining payments or other contractual remedies owed to
it under derivative contracts. The creditworthiness of the counterparties is closely monitored in
order to minimize these risks. Participation in derivative transactions involves investment risks,
transaction costs, and potential losses to which the Fund would not be subject absent the use of
these strategies. The consequences of these risks, transaction costs, and losses may have a
negative impact on the Fund&#146;s ability to pay distributions.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Fund&#146;s derivative contracts held at September&nbsp;30, 2010, if any, are not accounted for as
hedging instruments under GAAP.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Swap Agreements. </I>The Fund may enter into equity and contract for difference swap transactions
for the purpose of increasing the income of the Fund. The use of swaps is a highly specialized
activity that
involves investment techniques and risks different from those associated with ordinary
portfolio security transactions. In a swap, a set of future cash flows
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->7<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THE GABELLI GLOBAL UTILITY &#038; INCOME TRUST<BR>
NOTES TO SCHEDULE OF INVESTMENTS (Continued) (Unaudited)</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">is exchanged between two counterparties. One of these cash flow streams will typically be based on
a reference interest rate combined with the performance of a notional value of shares of a stock.
The other will be based on the performance of the shares of a stock. Depending on the general state
of short-term interest rates and the returns on the Fund&#146;s portfolio securities at the time a swap
transaction reaches its scheduled termination date, there is a risk that the Fund will not be able
to obtain a replacement transaction or that the terms of the replacement will not be as favorable
as on the expiring transaction.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Fund has entered into an equity swap agreement with The Goldman Sachs Group, Inc. Details
of the swap at September&nbsp;30, 2010 are as follows:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="14%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3"><B>Notional</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Equity Security</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Interest Rate/</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Termination</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Net Unrealized</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Amount</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Received</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Equity Security Paid</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Appreciation</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="center" valign="top"><DIV style="margin-left:45px; text-indent:-15px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">Market Value<BR>
Appreciation on:
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>One month LIBOR plus 90 bps plus<BR>
Market Value Depreciation on:</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" colspan="3" valign="top" nowrap>$456,459 (50,000 Shares)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>Rolls-Royce Group plc
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" nowrap>Rolls-Royce Group plc
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6/27/11
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">$17,397</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Fund&#146;s volume of activity in equity contract for difference swap agreements during
the period ended September&nbsp;30, 2010 had an average monthly notional amount of approximately
$434,991.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Futures Contracts. </I>The Fund may engage in futures contracts for the purpose of hedging against
changes in the value of its portfolio securities and in the value of securities it intends to
purchase. Upon entering into a futures contract, the Fund is required to deposit with the broker an
amount of cash or cash equivalents equal to a certain percentage of the contract amount. This is
known as the &#147;initial margin.&#148; Subsequent payments (&#147;variation margin&#148;) are made or received by the
Fund each day, depending on the daily fluctuations in the value of the contract, and are included
in unrealized appreciation/depreciation on futures contracts. The Fund recognizes a realized gain
or loss when the contract is closed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There are several risks in connection with the use of futures contracts as a hedging
instrument. The change in value of futures contracts primarily corresponds with the value of their
underlying instruments, which may not correlate with the change in value of the hedged investments.
In addition, there is the risk that the Fund may not be able to enter into a closing transaction
because of an illiquid secondary market. During the period ended September&nbsp;30, 2010, the Fund had
no investments in futures contracts.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Forward Foreign Exchange Contracts. </I>The Fund may engage in forward foreign exchange contracts
for the purpose of hedging a specific transaction with respect to either the currency in which the
transaction is denominated or another currency as deemed appropriate by the Adviser. Forward
foreign exchange contracts are valued at the forward rate and are marked-to-market daily. The
change in market value is included in unrealized appreciation/depreciation on foreign currency
translations. When the contract is closed, the Fund records a realized gain or loss equal to the
difference between the value of the contract at the time it was opened and the value at the time it
was closed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The use of forward foreign exchange contracts does not eliminate fluctuations in the
underlying prices of the Fund&#146;s portfolio securities, but it does establish a rate of exchange that
can be achieved in the future. Although forward foreign exchange contracts limit the risk of loss
due to a decline in the value of the hedged currency, they also limit any potential gain that might
result should the value of the currency increase. In addition, the Fund could be exposed to risks
if the counterparties to the contracts are unable to meet the terms of their contracts. During the
period ended September&nbsp;30, 2010, the Fund had no investments in forward foreign exchange contracts.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->8<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>THE GABELLI GLOBAL UTILITY &#038; INCOME TRUST<BR>
NOTES TO SCHEDULE OF INVESTMENTS (Continued) (Unaudited)</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table summarizes the net unrealized appreciation of derivatives held at
September&nbsp;30, 2010 by primary risk exposure:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Net Unrealized</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Appreciation at</B></TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Asset Derivatives:</B></TD>
    <TD style="border-bottom: 1px solid #000000">&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>September 30, 2010</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Equity Contract</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right">$</TD>
    <TD align="right">17,397</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Tax Information. </B>The Fund intends to continue to qualify as a regulated investment company under
Subchapter M of the Internal Revenue Code of 1986, as amended.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At December&nbsp;31, 2009, the Fund had net capital loss carryforwards for federal income tax
purposes of $375,535, which are available to reduce future required distributions of net capital
gains to shareholders through 2017.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->9<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AUTOMATIC DIVIDEND REINVESTMENT<BR>
AND VOLUNTARY CASH PURCHASE PLANS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Enrollment in the Plan</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It is the policy of The Gabelli Global Utility &#038; Income Trust (the &#147;Fund&#148;) to automatically
reinvest dividends payable to common shareholders. As a &#147;registered&#148; shareholder you automatically
become a participant in the Fund&#146;s Automatic Dividend Reinvestment Plan (the &#147;Plan&#148;). The Plan
authorizes the Fund to credit common shares to participants upon an income dividend or a capital
gains distribution regardless of whether the shares are trading at a discount or a premium to net
asset value. All distributions to shareholders whose shares are registered in their own names will
be automatically reinvested pursuant to the Plan in additional shares of the Fund. Plan
participants may send their share certificates to Computershare Trust Company, N.A.
(&#147;Computershare&#148;) to be held in their dividend reinvestment account. Registered shareholders
wishing to receive their distributions in cash must submit this request in writing to:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt">The Gabelli Global Utility &#038; Income Trust<BR>
c/o Computershare<BR>
P.O. Box 43010<BR>
Providence, RI 02940-3010
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders requesting this cash election must include the shareholder&#146;s name and address as
they appear on the share certificate. Shareholders with additional questions regarding the Plan or
requesting a copy of the terms of the Plan, may contact Computershare at (800)&nbsp;336-6983.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If your shares are held in the name of a broker, bank, or nominee, you should contact such
institution. If such institution is not participating in the Plan, your account will be credited
with a cash dividend. In order to participate in the Plan through such institution, it may be
necessary for you to have your shares taken out of &#147;street name&#148; and re-registered in your own
name. Once registered in your own name your distributions will be automatically reinvested. Certain
brokers participate in the Plan. Shareholders holding shares in &#147;street name&#148; at participating
institutions will have dividends automatically reinvested. Shareholders wishing a cash dividend at
such institution must contact their broker to make this change.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The number of common shares distributed to participants in the Plan in lieu of cash dividends
is determined in the following manner. Under the Plan, whenever the market price of the Fund&#146;s
common shares is equal to or exceeds net asset value at the time shares are valued for purposes of
determining the number of shares equivalent to the cash dividends or capital gains distribution,
participants are issued common shares valued at the greater of (i)&nbsp;the net asset value as most
recently determined or (ii)&nbsp;95% of the then current market price of the Fund&#146;s common shares. The
valuation date is the dividend or distribution payment date or, if that date is not a NYSE
Alternext US trading day, the next trading day. If the net asset value of the common shares at the
time of valuation exceeds the market price of the common shares, participants will receive common
shares from the Fund valued at market price. If the Fund should declare a dividend or capital gains
distribution payable only in cash, Computershare will buy common shares in the open market, or on
the NYSE Alternext US or elsewhere, for the participants&#146; accounts, except that Computershare will
endeavor to terminate purchases in the open market and cause the Fund to issue shares at net asset
value if, following the commencement of such purchases, the market value of the common shares
exceeds the then current net asset value.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The automatic reinvestment of dividends and capital gains distributions will not relieve
participants of any income tax which may be payable on such distributions. A participant in the
Plan will be treated for federal income tax purposes as having received, on a dividend payment
date, a dividend or distribution in an amount equal to the cash the participant could have received
instead of shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Voluntary Cash Purchase Plan</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Voluntary Cash Purchase Plan is yet another vehicle for our shareholders to increase their
investment in the Fund. In order to participate in the Voluntary Cash Purchase Plan, shareholders
must have their shares registered in their own name.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Participants in the Voluntary Cash Purchase Plan have the option of making additional cash
payments to Computershare for investments in the Fund&#146;s common shares at the then current market
price. Shareholders may send an amount from $250 to $10,000. Computershare will use these funds to
purchase shares in the open market on or about the 1st and 15th of each month. Computershare will
charge each shareholder who participates $0.75, plus a pro rata share of the brokerage commissions.
Brokerage charges for such purchases are expected to be less than the usual brokerage charge for
such transactions. It is suggested that any voluntary cash payments be sent to Computershare, P.O.
Box 43010, Providence, RI 02940&#151;3010 such that Computershare receives such payments approximately
10&nbsp;days before the 1st and 15th of the month. Funds not received at least five days before the
investment date shall be held for investment until the next purchase date. A payment may be
withdrawn without charge if notice is received by Computershare at least 48 hours before such
payment is to be invested.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Shareholders wishing to liquidate shares held at Computershare </I>must do so in writing or by
telephone. Please submit your request to the above mentioned address or telephone number. Include
in your request your name, address, and account number. The cost to liquidate shares is $2.50 per
transaction as well as the brokerage commission incurred. Brokerage charges are expected to be less
than the usual brokerage charge for such transactions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For more information regarding the Automatic Dividend Reinvestment Plan and Voluntary Cash
Purchase Plan, brochures are available by calling (914)&nbsp;921-5070 or by writing directly to the
Fund.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Fund reserves the right to amend or terminate the Plan as applied to any voluntary cash
payments made and any dividend or distribution paid subsequent to written notice of the change sent
to the members of the Plan at least 90&nbsp;days before the record date for such dividend or
distribution. The Plan also may be amended or terminated by Computershare on at least 90&nbsp;days
written notice to participants in the Plan.
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->10<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="g07017g0701702.gif" alt="(GRAPHIC)"><BR>
<B>TRUSTEES AND OFFICERS<BR>
THE GABELLI GLOBAL UTILITY &#038; INCOME TRUST<BR>
One Corporate Center, Rye, NY 10580-1422</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Trustees</I></B>

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 0pt">Anthony J. Colavita

</DIV>

<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>President,</I></DIV>



<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Anthony J. Colavita, P.C.</I></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 0pt">James P. Conn

</DIV>

<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Former Managing Director &#038;</I></DIV>



<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Chief Investment Officer,</I></DIV>



<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Financial Security Assurance Holdings Ltd.</I></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 0pt">Mario d&#146;Urso

</DIV>

<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Former Italian Senator</I></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 0pt">Vincent D. Enright

</DIV>

<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Former Senior Vice President</I></DIV>



<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>&#038; Chief Financial Officer,</I></DIV>



<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>KeySpan Corp.</I></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 0pt">Michael J. Melarkey

</DIV>

<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Attorney-at-Law,</I></DIV>



<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Avansino, Melarkey, Knobel &#038; Mulligan</I></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 0pt">Salvatore M. Salibello

</DIV>

<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Certified
Public <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accountant, Salibello &#038; Broder LLP</I></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 0pt">Salvatore J. Zizza

</DIV>

<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Chairman, Zizza &#038; Co., Ltd.</I></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Officers</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 0pt">Bruce N. Alpert

</DIV>

<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>President</I></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 0pt">Peter D. Goldstein

</DIV>

<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Chief Compliance Officer</I></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 0pt">Agnes Mullady

</DIV>

<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Treasurer &#038; Secretary</I></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 0pt">David I. Schachter

</DIV>

<DIV align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Vice President &#038; Ombudsman</I></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Investment Adviser</I></B><BR>
Gabelli Funds, LLC One<BR>
Corporate Center <BR>
Rye, New York 10580-1422

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Custodian</I></B><BR>
State Street Bank and Trust Company

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Counsel</I></B><BR>
Skadden, Arps, Slate, Meagher &#038; Flom, LLP

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B><I>Transfer Agent and Registrar</I></B><BR>
Computershare Trust Company, N.A.

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B><I>Stock Exchange Listing</I></B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="88%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Common</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">NYSE Amex&#151;Symbol:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="center">GLU</TD>
</TR>
<TR valign="bottom">
    <TD><DIV style="margin-left:15px; text-indent:-15px">Shares Outstanding:</DIV></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right">3,069,629</TD>
    <TD>&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Net Asset Value per share appears in the Publicly Traded Funds column, under the heading
&#147;Specialized Equity Funds,&#148; in Monday&#146;s The Wall Street Journal. It is also listed in Barron&#146;s
Mutual Funds/Closed End Funds section under the heading &#147;Specialized Equity Funds.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Net Asset
Value per share may be obtained each day by calling (914)&nbsp;921-5070 or visiting www.gabelli.com.
</DIV>

<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">For general information about the Gabelli Funds, call <B>800-GABELLI </B>(800-422-3554), fax us at
914-921-5118, visit Gabelli Funds&#146; Internet homepage at: <B>www.gabelli.com, </B>or e-mail us at:
closedend@gabelli.com
</DIV>

</DIV>


<P>
<DIV style="width: 100%; border: 1px solid black; padding: 11px;">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Notice is hereby given in accordance with Section 23(c) of the Investment Company Act of 1940, as
amended, that the Fund may, from time to time, purchase its common shares in the open market when
the Fund&#146;s shares are trading at a discount of 10% or more from the net asset value of the shares.
</DIV>

</DIV>




<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="g07017g0701703.gif" alt="(GRAPHIC)">
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link2 "Item&nbsp;2. Controls and Procedures" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;2. Controls and Procedures.</B>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The registrant&#146;s principal executive and principal financial officers, or persons
performing similar functions, have concluded that the registrant&#146;s disclosure controls and
procedures (as defined in Rule&nbsp;30a-3(c) under the Investment Company Act of 1940, as
amended (the &#147;1940 Act&#148;) (17 CFR 270.30a-3(c))) are effective, as of a date within 90&nbsp;days
of the filing date of the report that includes the disclosure required by this paragraph,
based on their evaluation of these controls and procedures required by Rule&nbsp;30a-3(b) under
the 1940 Act (17 CFR 270.30a-3(b)) and Rules&nbsp;13a-15(b) or 15d-15(b) under the Securities
Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>There were no changes in the registrant&#146;s internal control over financial reporting (as
defined in Rule&nbsp;30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the
registrant&#146;s last fiscal quarter that have materially affected, or are reasonably likely to
materially affect, the registrant&#146;s internal control over financial reporting.</TD>
</TR>

</TABLE>
</DIV>
<!-- link2 "Item&nbsp;3. Exhibits" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Exhibits.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Certifications pursuant to Rule&nbsp;30a-2(a) under the 1940 Act and Section&nbsp;302 of the Sarbanes-Oxley
Act of 2002 are attached hereto.
</DIV>



<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<!-- link1 "SIGNATURES" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act
of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(Registrant)
The Gabelli Global Utility &#038; Income Trust
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="23%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px">By (Signature and Title)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Bruce N. Alpert
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Bruce N. Alpert, Principal Executive Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date 11/26/10
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act
of 1940, this report has been signed below by the following persons on behalf of the registrant and
in the capacities and on the dates indicated.
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="23%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px">By (Signature and Title)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Bruce N. Alpert
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Bruce N. Alpert, Principal Executive Officer
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date 11/26/10
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="23%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top" nowrap><DIV style="margin-left:0px; text-indent:-0px">By (Signature and Title)*
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" nowrap>/s/ Agnes Mullady
<DIV style="font-size: 1pt; border-top: 1px solid #000000">&nbsp;</DIV>
Agnes Mullady, Principal Financial Officer and Treasurer
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Date 11/26/10
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD width="96%"></TD>
</TR>

<TR valign="top">
    <TD nowrap align="left"><SUP style="FONT-size: 85%; vertical-align: text-top">*</SUP></TD>
    <TD colspan="2">
    Print the name and title of each signing officer under his or her signature.</TD>
</TR>

</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>g07017exv99wcert.htm
<DESCRIPTION>EX-99.CERT
<TEXT>
<HTML>
<HEAD>
<TITLE>exv99wcert</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif">






<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.CERT</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Certification Pursuant to Rule&nbsp;30a-2(a) under the 1940 Act and Section&nbsp;302 of the<BR>
Sarbanes-Oxley Act</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I, Bruce N. Alpert, certify that:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>I have reviewed this report on Form N-Q of The Gabelli Global Utility &#038; Income Trust;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Based on my knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect to the period
covered by this report;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Based on my knowledge, the schedules of investments included in this report fairly present in
all material respects the investments of the registrant as of the end of the fiscal quarter
for which the report is filed;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The registrant&#146;s other certifying officer(s) and I are responsible for establishing and
maintaining disclosure controls and procedures (as defined in Rule&nbsp;30a-3(c) under the
Investment Company Act of 1940) and internal control over financial reporting (as defined in
Rule&nbsp;30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Designed such disclosure controls and procedures, or caused such disclosure controls
and procedures to be designed under our supervision, to ensure that material information
relating to the registrant, including its consolidated subsidiaries, is made known to us by
others within those entities, particularly during the period in which this report is being
prepared;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Designed such internal control over financial reporting, or caused such internal
control over financial reporting to be designed under our supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally accepted
accounting principles;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the disclosure controls
and procedures, as of a date within 90&nbsp;days prior to the filing date of this report, based
on such evaluation; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Disclosed in this report any change in the registrant&#146;s internal control over financial
reporting that occurred during the registrant&#146;s most recent fiscal quarter that has
materially affected, or is reasonably likely to materially affect, the registrant&#146;s
internal control over financial reporting; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s
auditors and the audit committee of the registrant&#146;s board of directors (or persons performing
the equivalent functions):</TD>
</TR>



</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All significant deficiencies and material weaknesses in the design or operation of
internal control over financial reporting which are reasonably likely to adversely affect
the registrant&#146;s ability to record, process, summarize, and report financial information;
and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any fraud, whether or not material, that involves management or other employees who
have a significant role in the registrant&#146;s internal control over financial reporting.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: 11/26/10&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Bruce N. Alpert
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Bruce N. Alpert, Principal Executive Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.CERT</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt"><B>Certification Pursuant to Rule&nbsp;30a-2(a) under the 1940 Act and Section&nbsp;302 of the <BR>
Sarbanes-Oxley Act</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">I, Agnes Mullady, certify that:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">


<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">1.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>I have reviewed this report on Form N-Q of The Gabelli Global Utility &#038; Income Trust;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">2.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Based on my knowledge, this report does not contain any untrue statement of a material fact
or omit to state a material fact necessary to make the statements made, in light of the
circumstances under which such statements were made, not misleading with respect to the period
covered by this report;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">3.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Based on my knowledge, the schedules of investments included in this report fairly present in
all material respects the investments of the registrant as of the end of the fiscal quarter
for which the report is filed;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">4.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The registrant&#146;s other certifying officer(s) and I are responsible for establishing and
maintaining disclosure controls and procedures (as defined in Rule&nbsp;30a-3(c) under the
Investment Company Act of 1940) and internal control over financial reporting (as defined in
Rule&nbsp;30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Designed such disclosure controls and procedures, or caused such disclosure controls
and procedures to be designed under our supervision, to ensure that material information
relating to the registrant, including its consolidated subsidiaries, is made known to us by
others within those entities, particularly during the period in which this report is being
prepared;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Designed such internal control over financial reporting, or caused such internal
control over financial reporting to be designed under our supervision, to provide
reasonable assurance regarding the reliability of financial reporting and the preparation
of financial statements for external purposes in accordance with generally accepted
accounting principles;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(c)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Evaluated the effectiveness of the registrant&#146;s disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of the disclosure controls
and procedures, as of a date within 90&nbsp;days prior to the filing date of this report, based
on such evaluation; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Disclosed in this report any change in the registrant&#146;s internal control over financial
reporting that occurred during the registrant&#146;s most recent fiscal quarter that has
materially affected, or is reasonably likely to materially affect, the registrant&#146;s
internal control over financial reporting; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">5.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The registrant&#146;s other certifying officer(s) and I have disclosed to the registrant&#146;s
auditors and the audit committee of the registrant&#146;s board of directors (or persons performing
the equivalent functions):</TD>
</TR>



</TABLE>
</DIV>
<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">



</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All significant deficiencies and material weaknesses in the design or operation of
internal control over financial reporting which are reasonably likely to adversely affect
the registrant&#146;s ability to record, process, summarize, and report financial information;
and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(b)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Any fraud, whether or not material, that involves management or other employees who
have a significant role in the registrant&#146;s internal control over financial reporting.</TD>
</TR>

</TABLE>
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: 11/26/10&nbsp;</TD>
    <TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/ Agnes Mullady
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Agnes Mullady, Principal Financial Officer and&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Treasurer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>g07017g0701701.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g07017g0701701.jpg
M_]C_X``02D9)1@`!`@$!+`$L``#_[0`L4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!`!+`````$``0$L`````0`!_^X`#D%D;V)E`&3``````?_;`(0``0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0("`@("
M`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"`@(!`@(#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#_\``$0@`@`"`
M`P$1``(1`0,1`?_$`:(````&`@,!``````````````<(!@4$"0,*`@$`"P$`
M``8#`0$!````````````!@4$`P<""`$)``H+$``"`0,$`0,#`@,#`P(&"74!
M`@,$$042!B$'$R(`"#$403(C%0E10A9A)#,74G&!&&*1)4.AL?`F-'(*&<'1
M-2?A4S:"\9*B1%1S148W1V,H5597&K+"TN+R9(-TDX1EH[/#T^,I.&;S=2HY
M.DA)2EA96F=H:6IV=WAY>H6&AXB)BI25EI>8F9JDI::GJ*FJM+6VM[BYNL3%
MQL?(R<K4U=;7V-G:Y.7FY^CIZO3U]O?X^?H1``(!`P($!`,%!`0$!@8%;0$"
M`Q$$(1(%,08`(A-!40<R811Q"$*!(Y$54J%B%C,)L23!T4-R\!?A@C0EDE,8
M8T3QHK(F-1E4-D5D)PIS@Y-&=,+2XO)59756-X2%H[/#T^/S*1J4I+3$U.3T
ME:6UQ=7E]2A'5V8X=H:6IK;&UN;V9W>'EZ>WQ]?G]TA8:'B(F*BXR-CH^#E)
M66EYB9FIN<G9Z?DJ.DI::GJ*FJJZRMKJ^O_:``P#`0`"$0,1`#\`3XVUN+>3
M]S[KF[.[2Q3[;^1N]=H4&.PV]:N@P]/A:&'$9.AI4I'IJUX(5GJWC*HR0B*P
M""S$N,[AB*GCZ]-JH(KY]69]I?"C([/7K;)9SL[>=+BLOVEM;;F2H]L[F>*N
M,&?H\U1HDV3GPL<%32&K:+]MJ0J9=#&VB_O1F<]6"+7J1L'X,T.[.Z>T-GX_
MN_MK#XK#;:V)N"E7*U^(W/(R9=<W35D>/2>DQU-C?'54`+E(6\H87'I#'WBN
M.!/6O#4\>C'4G\KC9]9'HROR%^0S.`"6P^9V%B`^O@E/)L#)N%'_`"T/TO[U
MXDGKULH*UZ"QOY8_6\?<D^QZWOWY7S8K_1U1[NI7C[4V_25+Y&7<V4Q%=#*:
M38\5***.EA@,<:PK(CLWK8$*OO$?U-?SZT(UIT/.WOY.>TMQ5-'5[:[T^16+
MPM+3Y%,_D-Q=AT>?#222XV6C:BI?[O4@:>CA@J-2J/4''J'T;WB/QKC_`%?/
MKVA>EM0?RE?C1LVB,>7[[^76^*V&>JJ:ZK_TC;=Q..+RL\1@@IZC8E5)0T43
M(?"LM=<L#H+%3[\)6]>O:!3H/-Z_R_\`X6XF6+&5O=WRRHZKUSB+;/9464R2
MQI!!Y(*K[78F2HED<,'1#>1F5@@/J7WOQ&/_`!9Z]X8^WIAV]\,_AE@<9)$G
M?_R59ZJO5Q+V/NO$25\;RQ0TZT\<=9U719"EI913ZHHS"_[TI%^2P\)7&/+\
M_P#/U[PA7Y]`KW=_+.W`E;O+=?5':?=>Y]L9#^[F1V[B,-ONEARV'6DPM+19
M?&5M#!MRBA:7(9*@EGC%*BH1*/+^XZ^37BL34=>\-:=8?D=\(MG;,S6TWP_9
MO>^-@S>S>MLK44IWOAZ'Q5FX<_G<97(U-3;7HR)2(XU/H:2\9UD@`#?BN36O
M^'KVA:'HL>W_`(M8VLK.XZ";M_O=Y-I8)\SC[;^IG>%:;,;8+H2<%((;T>79
M6T,G'^%P?"1O4_MZ\(QTL]T_%?;&/ZO^-V[X>U^]!+N;M&+:6Z3'OVA!KZ:7
M=ZX(K++#MQ))"([']]JA/4?2?I[T96X5P.MZ!QST53Y,=#9/9^$V15;/[=[Z
MCKLWM/$U]33Q[^F\CUT\U#33VCQV,H)22]7_`&BSW'/^'O$;U->M:%X]`MA>
MG>RWR5#19/LOOF##G'3Y&;,5':,E)**NOV32UCT,B9&43SQX_,P:4$<&F(RR
M,S<%EWK<>9Z]H7K+EZ>MV%F^KH*;L[L#.U>6[:V9MVMBS79N1W#2U^+RM;45
M55#-C\5+!2V1J=*<B=I(I(PP9#JXNCMJ`-:5ZJR@#Y]#7UOAJZOP7R@QL<M+
M%5U/R8W7D*"FGDC$E5#(N&AF>,-R!'"]V%^!^..:/\9]*GJR5T_L_P`'5\_>
MV_\`JK=.PL0N&[&V7D<CC.R>HMRI1TVXL3)5K38KL7;%5EYEIQ5M*ZTF(:HD
MF:UDCC9CP+^VO/IP#H,^M^S=BX3Y1YK)2;ZV?!@MP])X.BFS=3N+$4^#CSF+
MW?G)HL=+D:FJ6D:M%'5AO")!(`U]-C[WY5\^O8_ET>"F[LZ<C6[=P]5P*04E
M#=@[24`A2"0/XLNE1Q:Y-A8_6WOPK^76O+Y]+3K+KRA[;[7PG;FW=X;8W#L/
M;>T<QLS/56!RU)FGRF3KZ_%;BQN/H9\4:^@D>CIE\E0KRQO'%51,@D#W7Q'K
MU[RZ-'OS<V)Q&+JJ"-8:''4U'4:X::)G!!ITBTR&*2E59%@=B`M2KL.0;DVW
M_@Z]0]%AEKJ7-X\U,V1J\4*65*>CJS%03Y+'T]4@+28_%4=:F,BIZY(]#"JJ
MIJJU^9&L&UC\^O?+RZBU-5NG;V(C;:F-&-]%1KFR$D&<RF6-,CI3KELEG\='
M3Q)5SN'D6."(Q$&.UQJ'O+KWGT&F\*;<6[MG56-WH^VE7/4$=+D,-14>-H<I
M$:QHP\!RNVIJ6OH*YYIF9!2U;O&RG2'76/?J=;Q7HJ^W'RG6>TYL'M"D-%74
MFV\A34-;/19C<;9.M1*MJ.0135E6<0B5-&(UJJ2H9PLES'&&].L?EUO_`#]!
MGN7M*M[&PT6*[63#8G<F$K\=2[=ST]?7?Q<4&TLQC]SYMJ[`_804[X)*2+[X
M>-VK:'&U1K9%:G6.&3?GCJM/7H`:C/YK:>^^WZ.M&%V\=S[<JL>'S$M=5P9[
M&UF$VG*:+!U.*Q%92ZZROPZI'4K4)"`LMI%(!.\$=;`IT&V_=P9/,=08[`4'
M85?%D<3OJ*NQ.S(MM8Z7'X/#U6X:7)9G.X[,5PR'W.2JJ(U(ACFI"T+D,'!7
M4/>?7OGTV_*JBQF^-I['Q>W,U0U=1#ALEABM'7ZJB"#%;BP@A2O3%23U5*:^
MAIGTH2%D!-KK?WX=:)QT4_&=8TN"WSM[,XW%-2PTNW\#255/#!(4J,O/LAL-
MGJV6ME>6G1<AF*B6>TTL<B`E94C<F-?8ZT.D+O\`VZ,7D^I9_L*DLW>/5:FI
MJXW3QK`N431"TM2VLWB)>RV#*`>?K=/C'V]5?AGI3[!R>7^^^6U=#DJ:E?:/
M=^5DH8#C(I_,F9R>.HJMJF3[B*9_%31(4"Z5+7+7O;WILL?MZVF!U8'1_&?M
MC=71>1[?VHVV*'$T6PZW=]/7YK.X_<B5%1C<=55-5$^UL)C-OU-`#44DR>&3
M*>6("Q=V0ZJU-<]6'1+J&OR^V5S$O<6Y]OX"HQU-F\A3Y;`[7KX*`IC*?'Q;
M?P\N*JMRYJI$FXLY-]G)4"ICC@^Z20QD1D-O_)UKSZ!H_)+;-9N6JP6-RM6^
M/@IJ:!JW);8GH:U=PS8III<!+11[CK8*6+^+QO0Q533I'-&JS%$&J-==>KUN
MF_$[9U!TO\>>M<-/1S4%94X'&9_<5,*2EQ]7-N?([>Q+Y85BXUY87EH_"E*\
MI,CR"/ER3<:^?5OEUUO3?FUZI5Q(>')5$T59704[->HR,Q5C)4U;)&Q\./5`
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M;WP[WY\@\?EJEMV;-[*P>SCB6H:)]MSX?*U.SJ>:J:$7R(R,?]Y)2CQUGB`T
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M?A-T_CMM_/WXY;)FQTL+;:[PZ@FKMN[AW%AOXO7L];@=XKGZ2IP,M;0U]/\`
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MKMJ#1.AB.CPZ]7UZ-I\>MW-OOKZDS6:QE3G_`+-,7B<F#&*:MAK9*VI-3DHZ
M>&)#0R1G(>526>/R*%5S$R2C?V<>MUJ.A4V"^V=B4'8%!11Y3$[9BZLW=138
MW(TRT=#%D*["YZ&L:*NJ)A_%ITJSD)6:)M$$2B$`EE)T?+[>M_X.@-R_9W7V
M9_ET]Z];0[JP!W[D-^;4RF%V=5Y>ACW'D8X*SJN:>HQV*-5%D*Q:;^%56MX8
MW"&%P0-)MX_+K6*=*GY8R8?,UE3GMN5M!F\5N2HWG4T&0PE?#5TE<E90UU5'
M+35D$K4<T;2RE2X8K<$_X#PX=>^SB.B19&JK=Q[QZ^S==#24)VSA=@[;CIFK
MJ19:B+:=%38:.1($F>:6IJ(Z52%51<FVF_O=!7K5?VCH&.PL931;NZ*EARV'
M,J]W==ZZ5,DDU5(O\2:35'%Z]:MHT@@J-3`6Y!]V6FH?;U5_AQTL^H,A(ORB
M[\QE+(MLWNOL#'R'U`!Q+DY)#P+,`U,%(/%S?^GO388]>3ATV;1R-%GNXNH<
M3V1O1IZ'";FP,&Q]K0X*HH%HLAF=Y8?+Y2OR&36GR2YZGR+5%E4_:B&33^XW
M@>(U/5JUZ.9\GML?Q[H_J;'Y%FBCGZUKH,E+XXZMH)#U_0ZI9(:B2))'CG]?
MK>,!A8L!R??;PZUYXZ)_\#XMO]0?/+XN0Y_,[VJ<IN[N'K_9U%GZK;^(G^[B
MR.4VW''@H*K(U&=K*#%/#DZ.+(/1)"!12ZHI8XI0[ZZV*_EUNB]F04L'[#U%
M5$_FS-9FJVKD=EIC-]K(S*L2M-)#3N-,45V9RME`L??O*G6_/HI_978VTL!1
M"C_CT53-E8GGBJZB:2H>2D6DB^X>5%BBJZ&%GJH[O*H&F4&^CW[RZW05SQZ*
MOF=^X^HV[2R/6:8:C,U4SSU=2XC$=)X&0(CQO!#)%)61Q@J7&MR02#9?#.#U
MKNTT^?06=P[YZ]V<E)/N*MHFK6EJ2IJ?48S4T?W%4]2CQ:]!?Q,A`NQ'Z>/5
M[KWYXZKD[=[`Z7KY)Y,AF)**DJ*5"9J82ZDAK)G,50:>%:>OJ)9I7LSHD9NW
MJ('O=:=>-*]%USV,Q4&+H\AC\K'787-4LM-2U<E$$J)HO&*IY+K+"[Q")#(8
MWC@"1H0?)J#I[CUHYZ/K\4=SXFBVK+'AZC&9*J2IV]+E9)X98I(ZMH*B.GQ^
M96T$]?&]54SB:Q=G2.&Q5D)7?6\=&"[[V^,YT!VADA556+Q]3M^E-%EZ.L_A
MT3TS9*LH_N9Y/%7UM'%3Y3+U&J+6BO`\:%FTLPKY];\NJ5]MKL3<)S-5%F\7
M"<O2;CPF'@@QF5,M3E//DZ2&JH:EL3$E++C9I-#<QZC_`)MBI!.\=5Z-]AJZ
MBK?B;U7D(LXV7Q-#2;QQPW"*&MAEJ*.6CSE--5/05\4.1,E'#($*,$9VC`'X
M]['6^&3T7_!P[)CW-M.LIMQ5%144V6PTD4<&UXX9)R]<9HI:NHJ,XY3U5/J<
M1$A$``Y)]ZZ]T#.Z<E05G8'1AC7+5#'N;K95:HK:*"*G:'*4\6EZ)'K22'<L
M`K#TDV/J%K)EQ]O5'P.A7Z<E@7Y:[]F6$1BI[@[IHFY9@[XFBJ)9I`96:SS'
M+C]&DWX%_P`>;+GUJ>O)C[*?Y.GS?&Z,7B>IL;'N'9^,RN7V?VOAJ_K??]/N
MB.AW%UZST"U^ZDK=N(!4939]>VUHY3+4(4AJ6(A*LTY-#3]O5J^O5BO=,F*W
M+U=LC,T8CJ,:N4K]M0I%<&II:BKK=NA0BI(BK-'1!%9PP'!Y^AV/EQZWBOS_
M`-5>J5=T]N=HY'N+9N:ER%L]MG=N#W+ALO@ZNLQT;9BFR^VJK&%:+%S0P86B
MQ]?@TG$E*(T01E01XH537V]:R>MQOY<;RH<]UGMC-97>6'VYM;+X%Y]_YC'Y
MB)<+CZ_'UU!0RT--D)GIIO'#N>26D'DDIIHY8BC(&\@7W6Z4'6H]WE\POC]L
MSLZIVOUQF>VFWKN6IVT^.G;8S4^`W&V?I+;>2EAR>9I\CE,=DJMBL5=XA!$?
M&)&C#0E]UZ]2N>C_`/QWJLY\D_CEOK>50V3VZ-C5&WL-'D,A2R2461J<C44]
M5-4XK)4<T0JJ[53QQ21*'2!E#+(1)[]7]O6\TZI+^4G=F\>P^X<UM"JKJ^/%
MX(VK,U!BTDIF\E/01"=2/X92T4E5#4-;R31HJI([FR^_'TZUQZ2NX,GT1UAG
M]F;-[`V[V+2;DW-@'RV*K:)L7G&RE&F.IZB&O_A-158NOPN,K*6N0T]15?:4
M[`2L'80L1JM1UHUX]&#Z+[+IH*B7;=&V2W%LG*4L<>W<M14E1)2X^NK*H#3-
M!-3134-;1U#S>:-V1@&5OHR7V.M4]>K)?CGBJBCJ-QYBC:GIY8*NC&N:KJS0
MRM48W*4T9KD#-`/MJ995(TW(.I0/%I][ZN/EU([S^:/6F\>JMY?'S;^15=PU
MM)BWQVXZ*GI*RER^1P==BMP_P0T5/DC_``"KK2\<#U,DGEB9)8?MY$#RBG6B
M1^WHE,>S,E19/9$E!BJIX\9OK/S5<B4E0T-)!+GJ-Q/-Z&^WCFN55B;/R%U<
MCW;S'6O\'1K.L**K;X.;1Q\E'+2UE'N;=V.6F,<L,\<F1K,VT=/]O)"9`9HY
M@H0*I:XTC3^GPZ\*T^?1=<1M_.ID<94?P3*Z8,E$9'7&5R*J1/1%)/*].601
MW>UBW(OQ86\/GU[[>/0<;FVQEZ/L_I:MJ,5EJ:->YNM(_+-BZF.A=4SSR3'[
MZ<QA9DCC!5`AUH&-UTJ&LG]H/2HZJ_#Y=+O9M;)@_E-FJAC#>I^1_=-&=)#*
M(LO!M>.-9+7`E95DL&5@#>XN1[\_QFGJ>O*<`_+I*?(S%X27<K4M7OK![4J(
MJ[,44F-R\5?/'DZ1,G6F;3]G!.DRP4]0H=&_+K^!;W4]6ZLTV765>>^&V'K)
MZB+(3[9W;05*Y%/+XZFDK-Y4VY8:R-*H*ZP56'W+"Z*RJR1LH9=5Q[T.M^=?
M7JGG*S=/9#<KU.([4R%5DJ<?;3RT_7^>HC3U=`\C2)%4RY.EBFAIV=68LTBJ
M=)/I_5ZE.JD=;A/3>#HNU_BQM"JSNTJ;M6;=.,I^TUV9N1X#ALQ0=CU=!OC"
M4,U)F7K<=#A<=#/`T,$LCI'X0""QT/KJ^*5/GU7%VI\('[6["I)*SH/IO:,F
M%5*7;67AH-G;NR.SL92)2/!3X!I,)B\EB8\,83)`E%40+'.&,:\:FMU[-/ET
M/VY>IL'\<_C+5]6;2Q-+35>[:R/(Y.#'T5)B/N:G%T&.>7/2QTL+4RRY`P-J
M65WU1QP@Z_UOH5Z]P\^M?A^M8(NT*BM_@-!6UCU-%.M=6T.-G^U/B)E^SIJQ
M)915P*J'5&RZH6<6"M);?'JM,]&(R'3W96:^QKTVQL?)_P`+HZ:DI<A4T1I*
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M<;)7UE57%QXP!Y6`4:N-U/7NK,^@:S)YKXK4]+E:J>IK<;V5-!+6S3RR5,+B
M;)4PG61R=+0FE]+'21SS<>_=>_P]%:KMP[DB;&0U&>R\3F<._P#N2R#F:GGI
M\140LR+(Z5(GCD]`=ULSFXN2#[KWGCH)MUU&=J_D/U\E1D:U\92=\[$\5%)6
M9"6FA*9RA$<<$4@^SCNI>X4@B_&KU'W9/C'VCJK'!ZR2YIA\B>WYH8S!'M#Y
M*9JN9G;5Y3E'W&DK@_H`6JQ"'D,0"!_KZ;+'[>MC@//IO^>>(-)VEMJOBEIH
M1%7[CCDD9ECGB&;Q6TZX2PM+!)#(R2$^AG"L3>S:=)T?(=6ZM@Z>@-3\+]U3
MTC&:BKL%T_5XF:,AHY9L9T#T%C\P(3$);G^].-KM0!:TNI38@J-`YIUHUZH0
M[8VT^SNS\UCZ>HDH@NZMUT<$0IIIX8H)<PSTL=,:YYJ54RUR6(\;A9%TDQW'
MO>1UOK>6^,F[8=E?#[XW3Y"*F:IR?QLZ'DC6.>%DJJ*'KG"I3U,M(/VZ1JJG
MD\K1+KC`;T,4M?1Z]3'0(/O+=G8G8.-Q.VZ5JC$83,8_/;@:$L$S>(I)J>?(
M8:CG2..%:S++!-#!>0QZB?4%4,/8IGJW^#HBWSQ^<&/VM0Y'!9O9VZ-H/48_
M&U0HMPTKX&JR)7(*K34AJ?#(T.+GIF21D=T"D7)70[;ZKP[>J5<1\QZ#M-Z[
M%;7ZRW\=ZU5;BZ>EW>^&KAM^981,E+4RU(B>E6@I*==<S7$SE;(DA`;WZI_/
MKWV]6&[1[[@H,7B,1FHHA6O3J5>AR4#TM0]-3I'(*B&HU5-/423M?QZB8V<V
M7^S[V.O5QU[,]Z[<S=+38;)4*5,\.1BFBA4Q--!-XY$=E^W>CGJ1`TC>@DAP
M_J'C)T^ZT34=(S>*I#%42[2\,DTM+/E*."L-8M(*^KI8:NFBGDH*+(Y-<?+4
M-$9'CII73D*K%/?NO8\NB.[ZZ]J]D['DV[CZ1Z/$[GSFW)1F<DNC'253T.4J
M*=:0)KA%#1Y"@F2KED=9D=D#(2S6K]O6OMZS9[:V:K>I-X;=HZ$97)X]J8DT
M$)FCT8O;NS(*AJ8+'>2&6E$C1+;]S0@Y!)][\NMBHZL)^,WFJ.E]TP@7B_TI
M399%;T+`M3N[L"F:(%G8:$_AUU+$'U6M:Q;?7O/HMN3VI63M&T<)JIZ"%/%3
M(9'=()JB9@8X)A$\IIZN"4DZV*>5`IT@6UU[/2$["VY+1]\=9Y2+&52QU?=^
MQS49`T!^U5VW)%60P#(A@Q>6FGXC*GB!N5"@-9!^H/M'5'X=)#<.)R.*[*^3
M^:JQ$N/K>]'_`(:&EBDD%1%N.K@K)?'%,\T8$.?@L65"3]"Q!"^<=S5]3U84
M*XXXZ%3YF=>_WYW-2U;Y7&8N.EJ<7E9JG+5L%'3RTL^"H*>>FAJY`^F64T-U
M.CTA>?2+&IZW6AZLF^*=72Y3X>4>Q9*C%93([4V/D*K*5&(KURU+*LV\]\R8
M5?NA%&KRK@]O4\;``E-&GA5%M<#3K=,#JH3Y#;'V?GNQ\M697LC%;9%-_OY*
MK''"YG+5+FMQ^,J!4KXS`BFF>HB,?CD>0A[$`DA/=:KZ]7]?$[Y$;2^2'QOV
MKL;9^9E.7^/W7?774F:RE%'/#397&X#`T^+P&9$%;3Q/25^9QVWYXWA+SO`T
M1]5BGOQ]>MCAUSV-\G.J_CYEM_[DW[B=],U#@,5D,U7X[;.\-Q;:VW01/4K#
MC<?#@=MY2CPKRF4/6SSRZ):A6=W6,A4]GKQ'KT7/YN9W!=PUF`[)W;TCO^?;
M^V:=8\/]MM]ZN/,)NJJA2$SPM1U532/&QCT%3<7.H(PTMORZ\>/RZIMW9W_U
MYUC35\C;`W)M+'T45?-5$;6RT%)CJ:FIX:J:<U,>+1E>@AKT=W6-`$(",2"$
M]6G6J$])?J'NF+ON3(Y':6W=P-01YB&CH,^N/SM-0U=1"[QRQ0T.0QM+%4)4
M:0H>-8P$EN6X`&JUZ\13]O0Z]AP)@-TP8F6>2/)XRMFJF*2ZDC4)/5RPWBBI
MS%&:J103;U>/C5:_O9P>O&O2YVWE\QN7_<7CLY38O-04];4T.1R)RLF/@EQ=
M*<Y]I7OCZ2JR<%-HH1`LL$$GV^HN(V">-_5_;UX9Z3/<W;%!O/(XS;>X)^LZ
M>HVCO/%[=.-BQNZ,AAL5-F*?(U3+3I68"D$E0\Z2F&T:QK&T@;26"^_5Z\<]
M*?:.<>MH\F:+(;/FJL;G*W"SBA8X_$@8R#&!(JL5$@:&MDH5/B%K1I''QZ2O
MO?ECCUX=&9^*U37Y/I?LW(9.;;TU70;EP43Q[?GHZJ&G>FR.X6J%JCCJZOI_
MXE*]=)(RHY_6-7JUWT.O`^O2&ER>0@R.2%9F=MTD5+G\EC4_RW$S-/34^0G2
MCB:&&NA%-51JWC\8M)&5.I==P-G(^?7O/H.^R*Q)=X=04\F=,SIWKUFT.+CJ
MZ"18XV02>21(Y'K5:228DJ]ETR*5N"#[VGQ@?/JK\.BG[_SN-I.Y?E1A*6BJ
MI,S4]AY3/U^9,/DQ\=)@MZ44F.Q%-(T^BGJX%BKI9[*AG\L0)_9N-/\`&0/7
MK8KI^71C_F#M_-[YZUZVK]O&G6MS<.W*B8O4I$K008+<U)4D22:8Y*A:JLBO
M'P0`1<$#WKJW#HT'\K;9NXL7LCOC"YTQ^&HIMHXK&`2F6(1RT_84]:OE1W#L
M]3DM975Z1(H`"A+ZZ]\_+HC7:/1&Y-Y;ZS6:_C&!HZ*KPNW<73>1,C]V'H-O
MX[&9+SQQ1M!9*^D98V1M3JGJ(U67?$5'6NCM_P`M3;E7T#V)N/:>3W-#D,/V
MIBL7CV00R4D./W%M-<ID=N9+SU>4)<3PUM70QPI$7GFJH@VHH![T0>`ZLIIU
M=WT9DLU79WLG'5L!"XI,/-0U-92LI?[NFR,JRRM]LE+4*XH`3&K2`C6A'H"M
MX\!3KPH?MZ)9\LMA4-955N=K^BMA9GPO+3X_+1[&PM74UM51UD"R335#[>1/
M+K)8,LI9%`4DG]6\5Z\<=4Z[_H,C3-5TF'ZQH,)+5SOX\A_=6DP]"*BHIH[R
M02+C9*B:2&65?(#%&UP-)&M0??EU0U'310[XK^GH\+55\<M/24;)45U5#%K-
M2]13)3NVN4I^Y6#PQK`H:.)?58%VT[../7N'#HJ>[M_Y/.[IRF],\D-,:^L_
M8IC)9D@@$/DED7Q0&*HE`U*[`@J24+`-:O7CGHP?QKS%%F:K>&1F1ZNEQFV,
M[5QP1/*$K57"UM?D(C+3EI(C4T"2K)(OZ#/J7]-GW3TZV/GT'WR`@CSU5G*W
MKG'PKE]V]D;:BIL>N6_B&/CIJZ@RRXZ&A&4HJ>:&EIC/&ADE/DE7]PLI)'OV
M#U[!Z4^-HZW9VW=ZXK)Q2KG\7EMOR9;'I$P\=0VR-OU&3EB<(T;+!4U4LE_'
MH(BN%T\'7EU[@.CG_#VFB@V'\Q,1#$&CI.Q'S5+^T\9--6Y//)8NU/3EQ$*$
M'6))/5^L@63WO->O=$&[.[<R&V-_]@42[<2II*?>V]-#)N&(S5X@W)DWAEI:
M='BD;[HHA,3OI&LW#Z2/>LCK?V=8O])=1N#OOJ+$?PB."-NQ^D*UJVGR$M5`
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MW0%?)SY2[2Q^Y<9M]:BFCBCFEI#101LTB/\`Q33++`YC"TLD:2%W!4I(%4<@
M.!NG6_MZJ[^2/=.U,)F9/%18\+]QJBJJ@&LD+K2X_P`$HD2*3[5E,X'ZP(Q#
M;]5R/<.M'/5<V]NW*+==?3C)2KD*.DDJ))+B>(22FHI6IXBCTJ21LAIQ*X'J
M-[*5%B-9\NJ\>BH]C5.5W3D$CC,!DR%3]OX=`LE`4C228/-(&98PBZ-)+1FX
M#7M[]GJPQQZ-)U_O7;WQTZ,K]\[NCK$P#9G&;+KY\?C*VKI*>JWS&,`9)JC[
M"HI*&*KHHV=1,R+4-!)'&Q9B@]4#CUX5)QU&RF;P&$EPL&/P;S205VVZBB2G
MRN8SE533IMN2HIJNGHZ>"EHJF:EC+(/&[-(W(358#QZUQZ&WM;<&(V5OG=F1
MSVO(4%#0[1S>Y,A_#*?^+U#;FRF;V35O54%-3R15`QE#B$(A$3N4#)RS(1LB
MO7J5QT<GXF5"UV-^2F/B7$+&]'D74X^E2"2H7'RU-9#D:^2"8PUE36P9-9%E
M144R*S*`#Q[B:];Q3HEFX,15YO<V\:BGV!LS*RKO3<,8KJC&XU*ZI$66J)A+
M4?=TE1-45,D3ZFDUJ;L6(%[>_9IUK/$<.DM3X+(4?9?4HEVQA,4F-[AZAIVD
MQ]'B(*BF69XI$I6FIA%+)3)#26C5`418U46M8V2NL?:.JMPIU$S6>@H/D[VC
MB*E\X)LMW-V33T$!BQ,>,JEG,U%62)]UDH,G6+2TU2&=:>!RJ%6U#FVF_M#]
MO6U`H/LZ'Z.IK*SXG;1W'BJ.HR3;.I]U33XZACEDK,C*U>^>:E@\.HQR58Q;
M)K8,RZP;$7'O7E4];I4?+H</Y<G85;N??^*RDV$S&WJ?-;>SF/>AR>-S-%X<
MAFZ6BSL<,5=DL714>66.DV#4.DM(\BF-T+*I+HNO/KU.E+WP:#`;]FQ!DC6<
M9;<>-I(O,J/,:7*+4*B+(0TKH<H@*ZF8AP3]?=NO$>O2%Q^V]XY2HABQFS-U
M5BRD!:P86JIL<%DA(U?Q"O2DHI%.@799#<'@D\'77J'\^CL_'[`[C;;V_=GE
M/LJ[;6X=OY&FJX/*RID-W;=E\>*DF4!4\\.UE.KUL=5U&E7U>^WKQQT3CY*]
M+[J%94Y:O&8IO%4.YT)52I%-'D#/"/N)A3&!!/,UKJP+*2Q-M1]ULCJJ;MB+
M-4V0E;+U57--2R!Y8ZND6BE+>*&*`5$3+,!*]@=:E!'IN`![UGK0X]`_28S)
M53?<0I-'!5:GBJ2D\@6&1R`=<H`F>9'N647'ZC_J3[KWGT,?7W5&8S>Z,9A<
M=CJK*[@R4<3-3)2Y.HI<!CH:NGAK-S;F:EI:J;"[8QOW*_=U;121PZT7QO*Z
M0M[RZ]QX=+W^:-MO;7QW_EQ8+8>]LM$>UN_>T]F[QQ&%I"42#`['CCK,5E*>
MBJ9**LJ(<70YC*JL\U-&T\&;I9V"K4011:^76Q@=5,]1_)2DW#UO/L;?F0CH
MOMC!6X/-U2QM/$]-5Y.9Z$X^F@IVECK5J5UL9I715\BJ79D;?EUL^O5HM1-L
M#<6S*_"[,WKB=S-F>K^NZJ*&'-4N1RDE9'O+<^=JZ=:)'&4U4L8:Z:'D2*[%
MSR?>^/6L@5ZL8^"]/(F^?DHM;%)3BLZ5V7,SCRGR5`VVTE9`6J+.7HZFK<$D
MW+MZ@/5[]PQUJ@Z*=V'%#0;DWN_W60HZR'+O7PRT4[Q>/[^&CK(9!$E91A79
M*K06`9O4>/Z>\_SZUPZ1.(K<T-\?':2?*9&>/+=N;(DJS4O(DU:]!O)L93??
M:B?-+24J/&O+#QOQ;D>[)\0^WKQR.CLY##]>X\=Z[KI(Z?-=CTW>^\:/'X3-
MPR0X9J?,M@*#,UJ9#'KB<E!E,)CZJJJZ/_<@E/)4T\:3Q5,+202[?#$#UZTG
M"OG_`,5TF^A%H<GT9N':V60U&+Q&^JS'Y2G$\U-%48N3&;CH:ZG6964PQS)`
MXUJ;(1<6Y]T\OGU;[>%>K%/CSB>BH,Y@L'T_)2K5;1W+A\ID**GGRM9-2[?I
MNN^UMLT\:U.4EF8T45=N&%`(RH#*-0.D:='B.K8S3I.=H]H]5=1=H=J+V96M
M1293*8K)[:F7&I7U;B3;6(JLNM,"R&E5IS#^7\A%V!/(V#^WK0/V=`[#\_\`
MIFEDJZ?`T464IZ,U$LM369'-8YQ%`KO)>D@V9F:8H!#95$VO6?&I9B"?'Y\>
MO$^8X=&?_E(=SU/S<W!_,:I*;;5-M;'=>Y'XI_W,1YUFICN:;:_?M-50;BRP
MIXI*''RS_8T\E33TZBB:ICJ3%.E)+'+HYZ]\_7HPG<U(N0Q.X-O;BVZU+N3`
M5YP>[L#D322U>&W)C?$U7C:ZICTT5;!%)ZTJZ6H>CJHF$T#RQO&YV,<.O>?Y
M=4"_(/8-#5[@F_W'04\,E0[3SR/!/3^1X((O(D5/%/8P6]!9%CN.&U#WX\:C
MJIZ#K8_5.Y^Q-WX#K3J+;)W7NW*RP4"(RQT]!B3HJ&:KFD?[)(PL-&[:4E#Q
M`%I7CC5I1K[>O`5ZM7Z-^.76/59J</LAZ_M3-Y7.XG&9/L*MQS0S]M[UGJJ*
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M)G28+,LD$12GY761<DW8'2=UZU3%1T8#;?S_`.RJ"N$V?HZ#="2Q)%6G<0DR
MDU;HIXX-$\M8)7O$L0,;`JPX`-KD[KY]:TUZ.WT/\Q,9W;V7TCLR39F`P^1Q
MG:_7=7!+BJ&JIHZ*G_O=34E13H9YJJ,K5U>86H70RFZ$L`39;*>\?;UIACIV
M^3_7^Z-P=N]ZY7#4-/(*7N[<K05,TYI75HMQB6?QU"TM2RD452S`V`C/-FOQ
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MG&I5UE?79K(KAX4`A,K&615YOJN=UH.M>?RZWG/Y37PAPWP5^&^+ZTES&)WM
MW5GLYN3</=>Y<'#FL?1;GWA+N;?F)IJ*@QC5-8V9Q>)IJ*KPE#(*?%?Q2AJ*
M8O#3U-1>/6:5\^M]&#^3?1>SNR]A9+=>\-S4/5F;V9@<B^U>S=QU46,VY@>O
MMO4C[KR&"W37YBNQN.R&R<;C)*B;%9'(M#4D_>)**1E#1[J?+K?RZT5?D_VQ
MO:A[;V[E*O9^:HNNJC>,^<QFS\U7;0VQNOLW:6V*R@&[L/BX\]F*2KVMDLA1
M11P">*+)24D4J5"0RIH!\:\.M"G6PO\`&W>71'<WQ;Q'9O3^=V]MKK[<.V=M
M47:V0V?+1;ES>SJSPX,P_%K8]3ELD9]P[HV/E*20Y_,&LCGRD1>NJ):NG42Y
M'P.*=6->IWR)[3_V63I#N+LZDHL+M?=FSNH=W5>`VA5U)IL9TSM>3$9JHH=H
MG(YUII9NU>P\A/%2Q`(*Z*2LD>0_<U!^S]_@ZUGKYO/8.X<_OG>^\M\Y^I:L
MS&[]S[EW;F)"$C6OR>Y,_693)2>"E,,4:392H=G$0*IP/3;CU:GK1Z9Z'*5`
M41ES)'$BA(RPO&L?B*NC,\NEHG/I9@QLM@P`]Z/\^MU/2B7R5-/)15#)3BI$
MQB575'UJ\KH9U+^A&K+.HC0.%C*FXY]^IZ=;ZB1Y>IJ(R`CJ#&8$$!BD05<B
MHS.KA-4HFD9B5+-R1SJ(/O5/V]>KT]1B1I/&NM3!$%$(0QJ&6(*L3U`1/$S>
M4W5'<+<$-IX]Z^?GUOH[G\OZ4O\`*CJ0W1P=_;`TO&ZNA7_2'LH"Q"J;D@L0
M2UOZ_@.QY8#Y]5;@?LZO,[9P6#FW%\@Z_<6:I\,LO>6^EQE?^Y59*&6DR&'K
M6_A]/`'ECUQN%D`$:R1ZE9K`^_/\1^WJB_#4=`3GOFG+U2-[_P!PX&?([R@P
MD&<J,@OW$$/\*QD<%#)C$2.G3'FH/[D@>:JD+<1M]0=5ZM]O1%.R_D?W5WIG
MZBHWCO?=FZ,O5S&"-LCN;*5;U\@J`4IX:BKK*@-)"DRZ0PY\&FUE*QZ\NO?Y
MNEIM/#)MW$TU)3525%6:U8:RKJ:98S5LZA#+"]A*(Z0ZD4:E518Z%#L&\!UO
MCTNOCYMQ.V?G[\0NM\E%+74F0[`J,SD\74>*JHI1!IGI1)3S((*A4?&2L"PL
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MS')+XRL4B31%XY`EU5C<M9??J]:X=<EQ[S5`C!DD@B<DO&_BF0R)(J03I5>'
M7(!3J2#9>?Z,/?J];IGIUIQ%3Y"L,KR.\4U)4,6\;+,U7'(QFE:&20QLE1*Y
M_1;3P"P(MKY=>\^GE6218I))-(>)G128U-.$,KZE,D*2`2Q747"!5'UU$GWH
M^G6^CM?`")HOE3U"MH@AWSU^JA%"FT?8VS=`^ER%C:WXN?I_0.QCO!^?^7JK
M_">K4OD[U;WSG>[NWY=N]6]F93!UG9>]\ACZ^AV+N>OQM?3U67E^TJL=6T^!
MK*>6"H2F1EG1G0H`0&]V=7+$@'CZ=5733B*TZ)I4_%#Y'UKM5U'4/:$U=*$\
MKS==[V=04IW1-#?W80LH?DC2!Z@;71/=-#UX&GV=;JOJ.G[:OQ=[YV]45.3?
MI/M'^)D$4DE-U[O;QPR,DU,]4RMMR)E9<>^@1H0C22.UU*C5[0_H?V=>JM,D
M4Z$E>D>]@(`O2G;"&)VD(_T<;O=8WD0HSPJN$@:%E4\%60^A1^3[WI;T/[.O
M54\".AS^"G6':O5G\Q3H'Y`]@=-]H4?6W6YR]3F]/7^YX\M4O2X+=-='%`^:
MH,7B(S7Y">"%#)D$9W?@%B%;WAN?(]>+*!QZW@]M_P`R[X_XZ%7JM@=[K+-5
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M")>O_M_XM+T[U3FG7`PM'G8$ADGWG44HA4U4$RRPV9?):/W?PWXTZKK'52'\
MV*BW[\L=B]0[(Z?^/'9F$R.+K)]P=FY.LV%O&6AJLCC-M4>U=K4V`DQ46Z*=
M4&)JZR6I3Q445/+(D"),L/E:IC?T/7E=:5/5)\/P#^5$4<44?4&^T5%B5D&P
MNR2NE+\`G9P/I8BUK7`_VVO";S!_9U?6ORITR_\`#>'RL9)8I.H]ZB&I203A
M>O.R6;SEXB*A!-M"534.FM2]@1=3ZM(]^\)_0]:UKP\NN=!_+T^5M-'/'/U%
MO>02)&%,>P>R`3H#V#'^Y2O"I+W`4C01<7N??C$_H>O!U`SPZ;*?^7?\NH*P
MS#IS=RTGVYIS3#9?9Q,Y9CJ>H8]>Z60*Q`320>";L-1WX;>AKUK4.E#3_`'Y
M7QQI&_46^;D%75-@=C:4C,15$BU[+#%D?G4=+$"_U]Z\.2F0:=6\1?7HSGP_
M^(7R-ZW^1/4VZMU]4;\H<)1[ZV-_$:T;'WS!1XVFI]];9R-3D<A69+:V.I:3
?'TE#0R/-*\BI&JW-@&8.(C!P2#Q].JLRD&A'#K__V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>g07017g0701702.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g07017g0701702.gif
M1TE&.#EA,P)7`.8``/D4/@TRCEU>7A,4%W#"K/KX^*J5#3A'?+^_OY^?GUP.
M#Q1K.R51BW]_?U^V>ZJRR?WNZY)T7:^OK_-R=>^.H`H=6>7FZ&]O;][>X/B1
MBK0(!>`N4/.NN18H8_NUO^Y_EH:6M?XR+,K(R14T5/S>V<+)V=0`)N@``-P0
M#%-HEF];"^91;6=PD?V?EOZOJ(:,@M+5VBT[<_Y43?Z`?:R-:-\`-/O)QELC
M,_B_`(@.);2^TIT."OY`/3Y@0OP&!*H5+TM8AO2_QT5'4OC.U%I)1NOK\-\/
M._[`NVM_IU1UHJNFFI*BO]=$47]H3,6.A8"&G_ODXGDK1]R\E:9Z??ZWK_[2
MR[5E9Y>MG/X9%/UD6]D>/)R'B&540\_/S_[S\)0^061,9ZF;K?"?JBLU))^G
MP:JTIM_AYFAG=T]_6?X/"\7#PW5V=Z\D'+DT.?XF(/'Q\\86&^<("P"(-P&1
M<3]<G,"LKXDE)K:WN&9H99&1D`H^?__,`/__`````/\``/___R'Y!```````
M+``````S`E<```?_@'^"@X2%AH>(B8J+C(V.CY"1DI.4E9:7F)F:FYR=GI^@
MH:*CI*6FIZ$-JJNLK:ZOL+&RL!:HMK>XN;J[O+V^OX0#9S$#%2,LQ14"0,EK
M(\4C9Q739T(5-SG9VMO<W=[=`UW`X^3EYN?HZ>K!*3'3,4C3%4!`\DCN%3$L
M\BD'%6`?`@H<2+"@P8(WQ*U;R+"APX<0T27+)P_?-'_3.G2H**\""U%"%$8<
M2;*DR9,H#R5C`4)>B7KY2MA[DA&#Q8^A0J;<R;.GSY^H!AS0J!%CAP-#-R8M
M6D&I.S!BHDJ=2K6JU:H)@6K=RK6KUV`@,!X@8R_>-#)B06RL`"+%M1IP_^/*
MG4NW+ET%(K_JW<NW[[EB&]<V[2BXH^&W=A,KOIO7K^/'D"-[2I:B9=,'&&/H
M6(O$;(<'%F\L'KU800G)J%.K5I=@ENO7KY/%L`AD;0>8^3#.$WQFB._?P(,+
M'RY<"![8R).O2K"ZN7/40G9(GTZ]>IX$V+-KU[XEPO;OVK_L&``"7PS+%3K+
M*__NR=HG]7""(E*L?@7[]BM,X19AQ/W_^`$HX`!"7+>%'3D0\=R"#.XE!`I^
M1"CAA!-"X,@1$SS"@Q\#`&&>6Q?IULX[N'GH$4B'I=A4$":TV"('NJF8XGE%
M0$"!%BTJV.".//KT((5`2FAA(QF$H"&'&>E66_]&2^:#SU&"@4'!E%16:>65
M6%YY@XR&=<"BBR;`R.5A'3PA"`<XNJACCVRV.=*/00(Y)"-9^%"`(QM29E8%
M.F0FTS0L[%F"8**19NA=8\KC)9AAQCCF$V_\,42:+6XPA`!N9JKI0G#&6:$B
M50P2@A\N"`(%%(KD&:-N2,FSJJL;%7KHK#4HD&A&7[HH9J(LF/&'#4R`N4$0
M@F"ZZ;'(`M.IIQ'.>4@6,I``@0]^9.'%#&[<F4B>(,`$!%G3J'<61D"H-4U;
M%42QP;KLMNONN_"^JP`"2UBDXJ)@[BHC"S!(N@*83'#@Q1\%D+%FL@@GC,JR
MS#IKR`1^N)%%A&[PX`/_%HODJ5%3&P>6$<>!>;SQ&6]`8/+)**>L\LHI"^$$
M%!:X)R.^NCK:$1`Z_`'%!Y1N0,'`?^A0CQ`*%VTT2!`R*Z0B&<3)0\9(SD/3
M-*"],RB@^UPFF'R?"/&#$6(4\`8+A2F:ZXLV5W!`S@6(882+6E`PR$OR$'WT
MW:L5@<#>?/?M]]^`!RYXWV,DK;0?#A?B0IQ90#W`1K.YZHY&DSL)ZUI<>T+$
M#RT:P<$?18!(V-F-&A;#:7^@Z2+8VIKAZ!B#QR[[['QC@/?MO$A`Q`Y?))#'
M",`'/T(#5DPW!1#"`\]"`E-(=T;RT$<_@.%*)TY(%7'.X'A8%X&;WM05H'71
M_Q)KH:MNO.BG+R_G+FX@QA\8B+XBH_K&\(`@'FRP^L^"8(!;1P/H@P`'V`<#
M&/"`"$R@`@U0G08Z<`<*N`#N)H@+"0#!"3S@P1%@D`0]>-"#)9B!A(Z`A`_J
M@0XZ@,`$L)"%(730A#",H0>G=[AF':(%@H!`G'#X!Q<`K1"J,@]N#D";M<2`
M5>Z0%:T,-2\QZ,]%`2N`#D!$,[2IC0R1"L*_6J2%#Z#J#S`@FXH"2,`^#(`/
M:$RC&M?(1AR<X(UPC*,<X[@#"5+PCJ:0P`@8\(059J`(9&#`!T,XPA)Z$`D6
M.`(/0M""!]!!AI`\X0RIU[!GE>H/6`@2%?X``2Q8+_]/M[J5$I<X&@6(@),\
M`],*;%``S%0Q3.4JPA](,('536`(@HA9V0Q#1@*>D8W`!*8;YTA,.=81C\@<
MA1X]R(`Z5*P*;S`D(2-$PA/"P`L3\,$$.!A)&3*``3H`@1YH6,,Y08$$@I@8
M.F4`)"R$:D,6\H(-"+&A,3SAGOC,IS[WJ<\IK."?``VH0`=*T('>(`9D$$0!
M)O`V%ZT`G0\@W>=0J<HOOL%<8RJC`'\9S(ZB<9C%#.DQDTE23RSS@TB801HR
MA`$&3-,/)%Q"#['``R@8LILQM("V"L`P3\VI`#[@0178R0,(-(U"(?#"4:N@
MT@S0TP_&4H<UFI(S3M92E5[_D&@!**#*(16`?*'LY0`YZM%@@C2DQ!QI2=>:
MB9-^D`%AD($;6%D`$5*S`!#@@1M<L`2<1A)U@BA<#1%'B%%-*`N+HY`,C@`D
M=`YB0U%-!Q$24(+*RM)4',AL9H,@T2%HE@..[5]E1TO:TE96K!LMJT?/BE9C
MVI&ML*V$!`Y`A]K:E@X@:$$(,G"M$5*!!S,0`1)N:UM!XA0)&-BI8,M)B(E-
M2)M`DH%A)90&(/J!",3)KG:WR]WM"J$-ZF,7I;@8WO*N"[5F5&U'6=M:.*HU
MMO"%A`0B<!47M"`#+6!GA":0`?SV][\`GH)?]<``"UC@#3H@Y^&<==3G`HE:
M%'K:_U,58(0*6_C"&,ZPAC?,X0YG6`'L8Y2(1TSB$IO8!.@EJWK5R-[VGN"]
M\5U0`6A'XQKWK0$[&*R.?S!@/2SAFR!0</4&04L=(W6>C_6#`DC)Y";7*L0G
MCK*42YSB%0O3Q7/<`1%LS&7:12K&Y\"`1L=,YC*;V<PY-O+A>-SC#PJYDG^@
M@IJ#U#A!;&C)3L[SH4`\Y3[[V455MO(:6]S>'8Q!.8A^C1`0`.8PG_G1D([T
M%DA`Z4I7V@94J`+$(N0"2WNZTF%HLYLIZ=-!N`#"<_:##+3UAPT1X;.PCK6L
M9TWK6MN:`V.`\I]W366-JEC0A&XMC''1`$8WNAQBCK2RE_]-P!'$D`%DP!9O
M[0I3$DC7"2D0=3??7.I!M""3<U[U4R.+CBT7X=R7%<2G)6KI+PH"W?".M[P#
M+>@T!ANMP[Y%L8^-;&;[6]G.-B$2Q)!!&[SA#=0^@DXS(+$G&!>G=,@V)+D=
M)X>U`-6#E<$/[0S5A1!A-C$`P@/N-(0):.'D6@B81#W`!)1[41`E:`?(9TYS
MD-.[WGRXMTA?JXM]\WL<R?ZWT,L<<`*K(0MIT!X,Z/#2(X`@"1:`@@S2(`:)
M0Q()22B!!>B`A(>/>K")2^Q@L\#J)+_ZUFA/N]IC;8T.(.%.M`23$3+T!XD*
MX@,--0$%AH311-V\WCHO9KYMX?/_G_\BZ$-/?+,]"((CI($')"B`-!,N3A\7
MP/$\D(#732C309!!AA0/DO6.@'%/U=D0=]:SZDO9`%EZ88LNFH"%"O`$B?;+
MJOM3:-]E]'=@8]FUCR@`":I0!>M5HO"&[P7B%:_X$:1`!.QL02L?WO2^,E,'
M"\7"!"H/PZK"?//C)'7%$<%8I<E@6TI>O?KM8AH(P+Y%$T!5-#4B42)6%0JP
MC]N[T:.B,?_:RH&75CR'""H4`AB'!3*`9)>`?,FW"\O'?$.W!C-`4S90`B\T
M2)0'0TA@!K_%`T[P2!^4!$O@*W_P!DMP@5_'7#=T.!)V"'?F83`8@S+H80I@
M!91B!"M`_RPQ\R3U-PTB)PA:U#YB8"$P@`2[-`V]!X"_1T<#6`C7D@:>X@,)
MN(#&9G@PT&58*#A*`($0^`5)!P6!%$/5]VP/``43:`4Q]``P\`!F,''B)WJ(
M,"II$`(RD`49D`4M,`/212VA95W8U5V`&(B"Z!M>`T4<(#;U,CKT$R,I<!I>
MX$2&2#`QER))N&(!F&5-.`A25T-8L$G'EP=9&(I^HP;.(0"F>(JHF(JJN(JL
MV(JH2`1<R'QV4`<Z`((Q1`96``>Z6`<W!4,H%`91$$,2UXLF%'IR<@@%T`)]
M^`<\-`A'$"HNV''KL#DFH`7OTTJ[]$KZ(@\L8#M_@'<.A4M_4/\"CE*)ZG6)
MP'<(4+`A.N:)D]``8Q"/\AB/KEB/`J``^)B/^KB/^C@`I:A\L=A\VC:0`V:,
M%&)\-W0DAY9H#-F08]`&$\4>*:*-:3,/_;)5>;<!2$8WT^!_.&=O2^A>F=AJ
M:N8#1T`)#;``<K"2+.D`EI!J_M@<Y(:,>5!VG9`'?<"/.KF3/-F3/%ET!!F4
M,620G^((S<@(&_)`U)$#8P`>3OF44)D``D`@V+$%7\`-49`'1?`&9&`O9-*#
M^W(:.Y-W.2@(0G,?OO:1'Q62;Y1OU&9D1?6.*LF2*^F2E0"3_[@(+X`'(G`'
MGB`":M``"I!JA.DI&@"40IF8X0=VCW#_E%!S."@PDS=),FWS1%PT`1#U/_<"
MEC/S!+83A)US2P1#!N:H6NC(A(90`.`V9X[I""E)EW7YDG,6DZLAF83P!N$@
M``D@`;60"6^0`'<@!"(PF(59G!-RF(J9G(NI@HW0FN@'F;:Y"7F0!ZI34>-8
MD5^YB+?2`2"0199I`O'W!Z595J<IDH8@=G/6@I#PFK!IEY2`ES*Y"!?0``D@
M!!;0![V)"!8@`G50!R)`@HA0``,``T2`!\1IG,:)G,J9F$2Y-$9Y)-`Y"GF0
M`XS"!$2HF6-"D:'4%$MP)QR0=^`YGJO%EB_6A.R8:G8B">Q)E^XY"?!9FXJ`
M`0/P!F,@`6O0_P#ZF8MQ,"%Q``=6X(V&H`1"H`8#<*`(6I@*.F`@8(L+.DF,
M^:!X4D.1.0HO0*$ML@*X9`88FB@:NJ'Y``)_X`44D'<BNEXD.FQ06)B7M)YS
MR:*RJ6:TJ1K1^0<",)T"(`(S:@@6X`1PP"PH,`7Y20A"@`%K8*1'FFI)BE,,
M@&!-6HQO>(Q0V@@GZJ=SF@D3:@),X`$%4`)9XZ6XHIV>F@]8-)8HEI9J69YM
M.8!>8)S:$PDKVI)O:F1QV@LP(`&V>JNXFJNZNJN\VJNX:C>'@*>XJ0;'80AF
MP`0[JC0^T`:W1P@%<`=W8*B'JF:)&D-)\'3@)`A)0`?7RJ0,^J@'^?\(RY@J
M4EJIF)`'44`!!8`!,A.JGYHOV)DH/V@#*U"F9G6F`ZA#Q4EW;`J;<M"BD@"3
MOCJP!%NPMWI[#9`,$[&P\I`,(W`!$!NQ$CNQ%!NQ7*``.8"/.3"KA+`&";"7
M=S`&AE`$;6!D<!"H@B`$A3JM2(J8OOAEA@`#X!>4#6I#GC"IGC*EHC"=1<!_
M[CH_\/JSKG(:]GIE;`ECJUJ<K=JO[1FK.C8`(S`&P".U/5"Q5DNQ%^N3.XFC
M?]``'1``8!NV8CNV8$L'F.`!`)"V:7L#BH";%B`$S.&L7S!G;`"S@G`'1<JR
MA%FM,02FAX""BCD`&C"XA%NXAEL'HA@X;6#_N(P[N#M@KI>0!T(PN91;N99[
MN9AKE5^PN5^P!0*`N:`;ND*0L*;ZD:A:HH:0IH2YIH_PJK%YE[,Y![([NP10
M">BI8RC`M5Y+MKPKMF9["6BKM@#`MHI0`&H@!#8Y!81I!89@H'J+J"ZK@<CH
MK8D9/=`S`%&9O=JKO:0H"C"PO>`;OMHA!/_V?Y:(KZA7F"GJJFT*JX=P!Q%`
M`WZ9"#`YN[1KNZF6NX*PN[W;N[]K"<&KML2["';[!UW0IZD6!]T["%T@K<][
M.'S[5MXWLMR7F(+T`.(TL^-$4@)0OFJ9<^BK.(6IGJW;OJ]+"$K0!!'`!4V@
MPDJ`LH)0O_8[![5+_PFW.UCZV[5?V[^\^[^5$,!K.PE;4)S,2P@8X,`/S"P1
MS'@PD&Z%8`8QEYPEH`-O4`0Z\``3Q\$>?*HA[*RKJ6;.R0BN^Z^%\`81$`%-
MP`5HW,(1<$J%(,/V6\.3<,-2JKL[S,-CZ\.4`,3#*PD8,+>%"0=Y`0-(G,1Q
MLL0FE`2&T*A^JZU9G$P=[&_F>XY=3`@-!I<;5\+^"K`8H,(K3`,MS`5<0`1N
M/`AP?+\VG+]VC,=DJ\>3P,<#_`@/$`4X_`,_D*P1X@-.8,2%;,A`@L@?E`)F
M655-VL@*!;@SI,62_,&G.W@X>S@^`(TJ:L)D/`AET`!-T`!<0`-.D,;Q./\`
M`E!VIRR[<BP)=`R9J\S*OGNVPMO'D?`$,;!F,2"V,6`X1=P_8[`'^KS/_-S/
M_OS/`!W0^VP`T0M#*5``+P2FC<H`)%@"&LRQ$Q3)S#;)IEG)A+".1N:.T[S)
M*)P`>"``+T`$9SS*>$`@;QR[,US.D7#.2I/#_*O.9<O.PAO+CI`$`8#`<1(%
MO?L#$<($1IS/`AW40CW4>T#0?O5-B=RH>O``*2""D031N"/1RT;1Y&G1%ZU?
M2H,%K+O133L((G`<`J`$1,`%`W#&"1"/)PVG,TS#^#MG+GW',.W*D@#+DI`"
M`1`#I9?+.BVV>B"V.^K3@X`!0$W4A%W815W02IW_G%!].U*M;%0]HD<[DH+P
MA%$XA98PQG99!A8`L0+0`TXP!@(0`6-``R^`UCH5PR@=QVVM9F\-TV$KUY%`
MUY%@UW<-)'&PUV#;UV';U[0,V/ALV,`]U`1MO<1=W,9]W,:]V'C3V,JV0,Z]
M0$H9W1'$"`5((0BH@)=-S2[9!3WP`B^`!D+P`F)]!_#8!\9Q`3#0`R0XSFR=
MRFZ=SJX-VY`@VY!@TV%[RW%PV[VKVV&+`KX-/X,=W`+NSSCPW`<T!B\@O@JN
MO1)`4FJPX`F@!%<@X10^X19>X17NE'F`O5%9RHP@?,2'D'+)T470`V-@`=\M
M`&9P!TH@!3`P``-`RCV`_P>FG-JH/,>JO+]PK<[R_0CT_0A/P,K\S;L_<,\`
M/N!(#MPJ`*0-^!,TNA"8+0A7,`87@`!K@`8]T`-AC>6=K08]4`8UKM8IO=I&
MUMJN'0`][@@_[@@/$`"Z/>1#GMN[#;91L,N!'>!)GN<"O>1-KA5/O@Y1+@AK
MT`,-4+5Y`)@8D``]L`8(@`9HD)_LK=*0P-)^"M]Q+=,"+`DR.[9Q[N9\+;8'
ML,!'KN>D'M!\WN=.+K*`KMV#8`%X,`9"(`!XX+%K\`)<X#MH<`6$$.EDCKN6
MSN.8'L22@`0\_.:]RP)E)]BEONS^?.JHWA-%H.KJ$.B"X.5C8.)L$`7RV`.Z
MGO_6LKK6DOX(E)ZSO\[*:=X(:^X(:N#IQM[I_*W;\WOGS#[O^NSLS[X3?S[M
MK$X(*-X#=K"Y%U"@:]"L8?[M8^[>K%WN>'SNC)#NAF#EAD#L_1OG_'W0A0"/
M]#[O]G[O*!'M4+[OSAH!3F`%!6P(O([P9:[P/,SPB^#P@\!3T1[ON70`<\Z[
M<<[0A8"G>)[Q>;[Q'&\2^9X.U.ZL?P##)F_CY-SK.*SR_<ORBN#R?Y`'70"W
MDFL(#LWIGF[S,E\L)6W@7O_U8!_V!C`&3/[S0,_A$)[V"DX$(.^B2-_>./[>
M.G[F:![L[GP(]6D&`X`!0K#U?R`"#%#S-=_7#.#W72O_`GUP`01BM41`Y5?[
M^)`?^10KXF;O$`4@^9B?^17;^//8^?+HK]7\GF\?[HXP[G%BYO%M]S3MK&,@
M`@U0J])."*$3^#R<`F5?+&:``0T@HR4O"`C`M94?_(IP!]0,^AP-NV*NVBCO
MZW-_YDZ?"%#_!T3Z!VL@`D*@!(@@`D#0U\;.`$`@ZH2``&/0!6OP!W=0A0\/
M_,*__H6``,5O_&Z*_`:O_'&?\,V?^L#;SJM?"-</"`T",`-O?X>(B!@Z2R`@
M2P\PB9,%`R("#0@2DY,(#9R@H:*CI*6FIZBIJJNLK:ZOL+&RL'<+<K>XN;JY
M#J]^O\#!PL$#<\;'!*XNP\S#_RB??PT=`=35UM?4=+$>`-W=-Z1=8^)=%QBS
M%H-C,&,(HYZS\?+S]/7V]_CY\@BVN_ZZO5PU&_BKV#%CR5HM(]CLV2%IV"):
MTP:+FS<`X$@1R2,A#[T$((60@J>OI,F3*%.J7)FJUK^7MP*V8MC,X,&$K!;2
M%.8PVC2)$BF^LN@MXZ@B>`K<NR#I'3264*-*G4JUZB%^,%_*9+5SF$UDRKKR
MA`81:$2AKHA^L^J4K=NW<./*Y>0RJ[^MJ\02.X@PK-Y?/<N:O8:VE5J,$A(K
M7LRXL>/'D",W;O!TKN7+F#/30S!F@>?/H$.#1B-9LH;3J%.K3OVUK\*_@,G^
M'#QQV_]%`#\4Y%"@F_?NW@,N"!].O+CQX\B3$[^CN;GSY]!#P5!.O;KUX0/&
MC-"^?43W$0M&\)V#<Y5.O8%GT\YF^[9[]V.BRY]/O[[]44+&ZQ]?7M5YL>FM
M5UM%[Q7H37SW):C@@@RR)<0"^T5(GE]_!2@@>P0:6"""#7;HX8<@SD*$A!'V
ME\I_75EX86&L'*;A@2'&*..,-"+R((GZF8@*BCNI*""+J[CX(@`<UFCDD4A&
MEQ^._%&(GFP78CC4D/`E:>656,)U(Y,W.0D@E%$"J8J0+Q:9Y9EHIIG/B%QV
M^1IL@570P9QTUFGGG`>45MH4/_3IYY^`^FFFFH06:N@J#XHOIFAHI.GIV!2K
H1;K:#M#<<=VEF&9:V:&<=NHI(@E<<$:FI)9J''.?IJKJJJR&$@@`.S\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>g07017g0701703.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g07017g0701703.gif
M1TE&.#EAT`)S`N8``*;#QST]/82\Q*6EI<'!P76YPKBXN'3)UJ"@H$1$1/__
M_U-34YK8X3,S,ZRLK-/N\24E)<K*RMOQ]'Y^?HO2W*FIJ:/;XYF9F5*\S$RZ
MRF7$T;6UM3JLO)/5W[GDZLC(R)V=G2*JODU-39O!QL/*R[3BZ)65E2TM+8R,
MC'%Q<6>VP0VAN"2GNBFMP!H:&@```/#Y^E*QOXB(B!"BN8&!@6S&TSJSQ:G>
MY;+&R;*RLFUM;86%A75U=65E9<'G['EY><KK[\7I[L7%Q1(2$L3$Q)&1D4:N
MOC2PPRZINQ6DN@H*"KR\O/G\_5E96;W)RK^_OTE)26EI:7S,V%U=76%A8>KW
M^.WX^8'.VE[!S^#S];"PL"RNP>7U][#@YQVDN870VT"UQQZHO<[L\'C+UQ:C
MN42WR%RSP%B^S?/Z^QFFO!.CN9&_QDVPOLC+RQBFNS"OPO7[^^+T]AJDN1BD
MN:[?YDBXR1JGN]+2TKC'R?S]_OW^_ARGO/?\_.CV]\S,S`NAN"'Y!```````
M+`````#0`G,"``?_@'=^@X2%AH>(B8J+C(V.CY"1DI.4E9:7F)F:FYR=GH8"
M*W^CI*6FIZBIJJNLK:ZOL+&RL[2UMK>X=H*?O+V^O\#!PL/$Q<:-H;C*R\S-
MSL_0T=*CNL?6U]C9VMO<W9G)T^'BX^3EYLO5WNKK[.WN[^\1X.?T]?;W^+?I
M\/S]_O\``R(J("J?P8,($YK;)["APX<0(W*:I["BQ8L873&4R+&CQX\!VQ#,
M2+*DR8H;0:I<R;+EL`)J3LJ<29-<2I<X<^K<R:A`S9]`@^;:Q;.HT:,K2:@0
MRK2ITU0WD4J=2O7=TJ=8LP:-6K6KUZ_$KFH=2[8D5[!HTZJU%*.LV[<H_XFN
MG4NWKJ((9N#JW7OOK-V_@*OBY4NX\#B_@1,KSAFAK>''D)LA7DRY,L?&D3-K
MKC79LN?/_MHXWDRZ]*K.H%.K[A:!@^G7L$NA7DV[-K$V;&+K?CW;MN_?G?`8
MV4V<=.]+#A`,6,[<@9\*RPLYB.X'@7+F!A09D,&#!XKLAG(@,&1@.8@+"(00
MNLY\R?,!%0H14+ZAT)+EX!%%&#`AQ8\+!`PBA'(Y($)$$=VAX!XA3RB'P`4@
M!!C>>(5LL-P3BDPW@"$;C)<#<R!NN%Q\[VU8"'0BAKC<AP-0.,A]ZB%B@`,1
M+(+BBP,L2,@'`^3G!Q$7_)#"#@6>*$,*$USP@?\A#I!8B!`]#E(!>P/4-X@6
M5([XWH,7T"@@?890]]P//%P0P0<@J`@"$9>TX5IQ<$9VG"4+*#&$$B\HX8(2
M3?C1P`L0%!+`"RX,\B>A>,J`"`@0O-"`#CH,*H(A";S@I!\7O/`"%")HFL(@
MC>J)IPE^OC`I(3EX6DBF+Z"@GPY[BJ`#%7N2^H2F/1A"1)TG_/##H`%8.8"F
M#2PPA*F4OJ"C'Q-H:B(B@Q9:2`I*^$'MGIKN&8`?+KRPK1_1&O)GH`'HJ:FH
M*2R@*0B$+/"M(5I`X,(40RB:2+A^T``HAH00\,*G?GS0A)U3I`#%"S0,XL`)
M2H@PP10N#/%#C:`JL:S_'S^\0,4@G2+Z+R$]O'!GMDI``:[("W0+`8:I?ER(
M"PWX(82Q/?0PQ`01B-RMR,=J80D)P\4IM&%S5D+QH#'[4>.@)Q1R<*`G0ZWT
M(9DJ`?`@%USMQQ*:ONN'`YH6&+(22Y[@*"%+OS"%?9I.4`@"FI)Z2*=#.$>(
M#CY_H.J.?P9`L1]4$(JA%IJZ*H.SA(#]P@*%'/Z"SXE4*O4@/Q1*<1.$#E)C
MHR;[\;0A3$_M1Z.GGMGH$.HMH83=AAS\@Q\\-)W(YWZ@0.R2A+S@]A)(YX="
M@8<K\>P3I!."9ZYH=WNJND.@[;P?G4)=X^<&:*J#']7K;H@+DV;LMA\@;!!!
M_XTMNRKZ)#B\.?3Z>Q5]"=*"GDU(](/`G\@3?XH0(R'[^^&X$FP:1,L*U*P7
ML*EOH'L!\@9Q*^T18E@ON,`A"/<"'ACB`Q3;VR!,(#)V\:];:RN?'R#H(LSE
M*8"U"YLB.B4[0DQ`6H/`'`Q'ARSH`2J!20-5#0?!`TT5`6,Y%)?:/)>`%=XP
MA9I:P-\0!CM-74ISC2KBM#15GP9"X&]P\U8,,V?$R='/#\=:6P-W8`@(,$Y=
M6D-5X2Y!`O6Q[XUN<9\E[%<_^7'LB'0\1`]?\"Q$$,`%*=!4P@2H0G5)$8'Q
M6Z`?&OB]04!0@H90U^0.H<$/=*MSA<"<$H0@PHQ!`/]W!+":(`EANQ<4"1&=
M"B*S)B?#0A3/AI/,XRL'8<D7G*`"PDM$%/(4!0A`#I5'1`&?-"6"#+JJ42TL
M!`=;%1Y5#>!8+[`7$0*@LBW.<&Y'O&.@0AG-1:[1E;G2I`Y.24AF5J*-<$QG
M'.4RC#P.*D]*B*>FH#:H(02@`0UPT1U?\#=$_&`('Z!CRT20@"'H`'=_LB<^
MXS,H13*R$(^\()Y.E0@-*NYZA@BDI5H6`!$HH0<Z^L$GZ5A*<N+0$!-@)1=U
M>*HO$D*6.QQ$`8=`T4,0X5A#".`'S%>(+PHS`AW;F!]>4`2]+0X1.M`4ZS27
M1#_LP%V`JE$*(-##:OE!D_?_;`!/YY=-&[H`!(.B`OF^20@(Y*H"T-08[OP@
M0DH```GJC.M8Y%@)=Q(J!7B=*AX)U80%0*&/)[,J(9:0`RT<K8@9LU@Y^ZJ$
M$YCO3R[H*Q2<T]!"//2!FH(D@S35IPKE`#P:A&`:K>6LEB6`7E1]J043NZ"2
M*B*/J\SD2FG8TJZ>+(BS'`0!CJ4$D^ZH!PQ36XUV,$E8#D(&U5I"J%X7P09V
MUA`A,^4%B6FM'BAN!Q$PZPXTI1Y-2E9N/>UJI^0Y!8JUM:S(,\'.7O"Z<FX5
M$NB4JWR?0E=*V#6(7X1M(=1EP$+L\4J;ZH$)`39`TDH7D2]5H&7;!M',&B("
MQY(B_R',QKBANFQKN#H$?PD@0E;]D'!-$/#>7'LO6QI"!\EL95EKZ-(ZXC:F
M@PA<<35'32(XSKI*T"Q7H38!JW[@4,TR$YXD7(@"`I:"UQ/!ZRHU!!HTX`FL
M<HZ*$]'BZ-%-0BTC8R&&8$$!I:!;+H#<>2'A!#?.]\Q`J>\D[AM>>MKQ$(X#
M+[/R%.,`H.#.DLQ.@5GE*@37T:$,QFP$#['+YA7B3YW5H.>\U4]N;8JM:VQ@
MKJA@YSM+;A`D!J:AYX?)J\[VE2V^K2MA[(>0S1AC-32A"^2\8QX*]@GKE6!"
M$=&R1E).J7YR%029J3A231F87@14]CKKKQ=$03Y\-,03\/_DP3$[`@=S0+.T
MM\).8;"YU:).!!$.UH#\-*M:$7`!3Q7WN@+K*]E^/AF@'>A(!Y/G6!4VU`L2
M?>$1YFFK@1R">T18@;99<MQKS/0AC)PX%]CZUZ"V+4QK.H@IV)80#G?!DH@G
MLE^V>1#46A6>!HU<]AK"/7]JP-\^$,5!K%IIIU-/]MSV:VP&.U`'4X*5&A5$
M&:"N.JR#``06Y&Q&.`&NTPXZ3=0LB7$=NJN5DE9"^YH`'0^""$G?@18<H,E\
M;7+45V35#E!P21U&=@$)V-"?3L#T"[2L`4T@J`/XC`@$="L!(-#"`!K5IV*C
M701^<VH\?]"DB),(@E$P@=D@0(3_'EQ]Q5<\MPB:`(5.TQ*R29(!!$ZP5AL*
MUM'?JB?3?VAT0G3+:X-(>B(V<"P(X+4!W5*"/NLH+<,S"4^0-,&QH`""')@@
M`!M:0J428`(MR.!/4V#3K4RT78P:-5?CE:R]XC?#<)'>6QBZP-ME<`$>-'D0
M/5BU`WB@!/!"<)".^+G0QR\3HD="!`T@,OJ)W(0&?`O]^&S`"5A-"!`4-$\N
MX+T?$A!OC.-S[2<@?Q`0`"9`,0D0?_+'+O"'3_.7`P$8?[<$`OCT0XCP`<2%
M)TH``4U0($OP@`R(.P:0??-$`VLU``%X`A"@54O"?QGU?[^'@*JD.9*7+1/0
M/X"#3X*"_W8QA(`GH"CKEX//-3_NIP@5<#K!9X+N5WE7-836$H,HT`##DS+9
M$@5_`P(G@%,-P#H5T`!6$@$-H"/X-&D\:&L[Z#7M]RTH$(#?LRN\!0&:502A
M`@%]-`#XM'R,@`-D0'YZ:!;5!AQ^^(>1@`<LL(>$B!'F!XB(^!D`,(B%V(@*
M<8B)&(F*@0,QX8B6>!"0*(F:6!<XP(B7^(E]T8>;.(JTL0:>"(JH>`Z9Z`@\
M@@)%8'&;\`0@@`(FX%L!87LH$"&DR(EYF(J^N!"BZ`M+8"P-T`/&`DB-5@D7
M4"DG`':-M0T$P`.KQP@[\'D+\"=DR(H[H&6[R!(`X`6_&(XV$?^,O$!QSV4`
MC=)_E5`$@;8UBG0-QT*!C1`!DG-*M#@)E;(VW;@2`@".XOB/T["*BA!()^`C
M<--;%Z2$$2`AAY!=MM1/_2,$2J@(#"D?R7@(%>D'L%<('V"#A,`JX"<@:(-"
MNI)('$F2^^@0WPB0+!D-`HD(:%5!AU!R`0`!.O`G5E,CPYA_-W,(6122C>,"
M`1"`<C,%$&`"4=`\(@`!*%`N2M!E'P`Q"2"4>:-S%]``.R<"O`4%*SA/9&0"
MDS>`2S4(!S,$%ZD%J(=Z;A,O\]<M0R!!QD(H:X.6*7B4(Z1S%7`"CI>2[0``
MO=B2@,D,+SEPZW((]>0'9B-N>U0$#NG_*@?S1#TT!$\D4\AR4R_`+NIRF-%"
M!"3D!^H20GJB'GC",!!0!!-@``AP+(.$)QNB!1GX-82BA-T2@RC7*N'V`@[0
M0+QG-K(S*)]"<LIRFPX`-AG8,'P)#Q01F,II"X.948B30-7R)XP#816D.`6R
M2_H(,H3B6]3Y/8CF:>(F0?FH--VB`T*`)^;3*!*$)_D$`FOU)\=F8?&!.9.2
M,[AI",<">@JSG:7"7"^0'1EC:']B0;:C=.PU4,IQG.[@E\O9H/I`CIZP78-6
M1C?T)P#3*$/2-36I!*`72+D$+W'C8I[67C8D-YTB`@=I(@.JD2\`7@[P`UJI
M8!96(&`6``%P_R<>Y'EO1@C;Q:'4I`370V<I9%78Z)EY8J-[,DZ:XB,*J@YK
M4(D.&J6RT)P5TBU=MEG,9*$Z-`$2RJ1OHRE72@C]-J'`XFF-U"F0=#`+``)Y
M8B)FXS8;25H-0`"#<FS%5B#IN`B50C:'L%T0P*1"6J!;:J23U#+\TJ3J(`!2
MNJA3"J&>$#)/ME^`LB1:2D,3$%&)X)"?Q)'%9B^-$D[LUBD6=)LID#URTRT;
M$J?=XBJ^Z4W2E4J+P([L1DO#DF.&$*A<U"ANHR\`5`B&BJCJ,`)0RJC$>AJ.
MV@D?4"D-4`$1L`&29"5F$Y_=XC:2DR,T<#%?,YOIL01/-6=%!#8NX/\>ZG*E
MG>("VY<GV:$NC*,O4N1#.K0`J:E@$3`J$0!K\V8`%3!:&',\AI4#/<"J@.(`
M!G"MV4.9TA)6:9,`#K`!/+`$8VHEP+H-`C"LQ5JQIT"E`]<HFC($*?">+A"?
M\M)>T?5H?J0#:>4"]H)<VK(@*4.N_Y)ZYA,!=?)V2V))XH9IFG(".Q!/XQ%=
M&Y,#.W-]B+`!AT(L&#)-FO)H#N`"+J`>E0,URQ0S2,M9(\2T8QFQUJ"H%KNU
MJ("Q!O)9DL!)&2DC.8"2$6``API,.+,!2O@!&^"1\B$^?D``#&D`R[($<KL(
MS6H`2LA)$^E'>3NW.?"W6(L-:S`#7)NXLG'_K$51*=E8N,`1`2J`N(I;N5[[
M#X-"HI#[ASY1N9Y[N?Y0+N^XN;8A#P7AN8H+NJ2[NL"`%Z>+NHFKNJP[NY_0
MN;!KN8R["=12G/:$K9402@G`I`%P;%,03^!%*[[[`4ZV5`/0>`1("%&P`$W0
M5]GIK`&0`"+@)$O0!#9Z4'>QC/2W,"<`.=N;`'JY?`.`=\V8H[0[#*9[NY^;
MNYK@24_P!,?"<)<P3VD;`->C.O*S6Q@%41"C0I2C!!L3,G)S,$D+-4L[!`10
M2^Q"<I\T+)L:'GHUH82P`68C74*@@;#Y,:[I*@4TC>W;"Z+QNO#+M:#;+"MS
M,LF$"4F;G>`",!T#_SQ_>@A34(Q+NF(_Q(Y7=%4+<&<[8"\9TYLO<#V',YW,
M!F>FIRFK-P7OE!W$`TDT]QP2AV$R6L+`,!(IC+O%P,(8\B=%%"G9*0(#$`$I
M<`)#20,760C>@BM'\STY@"=*Y(:*P"K\,J;Q,:8]RXV$X,/R1D;=(JT:DP@M
MTT<(``5CRB]$$"-FDS0+<GQ:_`MM(!9=G+KRFPE@S$%U@T3940$2%T@6Y#J,
M8$`.9RI+`WZ.`P7ZN2J:PB^NE66`TP,Z$`6:%0$RX`(ZD`(<>R9[4W*T]IP!
M\X6_6@C=&2:X-LF\T`9!<\E>3`S?=J,!0"'<1$;IHEPO,!Z!1&0-^0)SN__!
MK+I\1+`S[V4(>$R9TE5KT`,%=:($@Q0!12"4!:4#1-!`%ZI%P9QL@[`#N5+,
MZT$H&9E4>ZG,FV#)SAR[F8P)+(PY0P"QZO*%J[-,V#MXBW`K+Y)Z,F!GA;!+
M_+0(Y^P_*B1"N,.F]YDQ+E`CB&94]RP"!J`#-1/`ASP((*`$/]`?;0.Q$1"`
M%V,`2K``*$G0F4`"HW'0F/S%@+(!>())$`1<?B"K`U"_3S"VA5`]_:*Q0X!O
MFL(('YU%/C.F?62?QU:FX`E&+M,M/3``&R=8,3UG29NTFI4`A/=QQ0+4G]#,
M1%W4T+PO@://MZD$BN(`QT)_M7@(J0)1&X?5WKS_",O$+\4V'FR*.A\`'D3@
M8&(M28LF5/'(K1/`I8GSG`A0,R*F,7:3QN+S!`M"CPD@D5%-UYD@N7>-NJ#;
M0RY@`+OUD%AC1TEU2\\Q'OT6@\-B",NT5=$%MZ2TPUMD04GU0Q,@<OE"LLTB
M<0[Y*4LP!#$#-A5\"!#$ONVF+!C7UB:6K-XM5*Q]3G;]V@A=#($49@:V0`:'
M-AUC)_%Q,*.5*1EI.UME0EY:9`0<,,4+!08L4QDHQK@3`?J2?A5$,2:@!%BY
M<W?L;J[\..#CW29V;FTMP^,="1%0WN:MP@E]"35+,>JA4PSNJVE2(Q`&`1Z)
M0<DX/D\2,&U,2RX>'F;'_Y$#``+8*HL@D+:+I!PO[N)G<@@8A$$!4Y$?$"`?
M0))$\-,7W@AMD!<;'K_>D`+XRR3ZO.2(*'Y/#N7<X"_RF`@T`)16'KEFEN4<
MW@TF2[@[$N97/M1D?MY;[KMJKHF"V.:PW>&MS0D]'N>)X29T7N?',``)P"94
M%P!K2M@+`(M?TWCN<0&C^S;NT@3/0N!0D`!-8":&``)3_G11D%<]`%XM+0(+
ML'Q40,MYE0(DD@-3P,Z3J>?"(!Q][N?%L`$H:W4G0`3Z@CRVOL$FY86O3)8I
M<)$]E``?L$L6E*PG0`!:$$:#T-*-<DT<Z=W(8P!,6WC&-@@;E[24ET(+(#"J
MQ__JQ=")KP[KQ`#%;#+(<[O#7,=?3$H#&RPALJ?=/X(G"=-OJ$,\&,5D#7<"
M$;<(@(17G3X(234IF0)0^P?JT^L"@V0VKF([S.WMP1!?X?[,P[!L";-RUNY`
M'_#1CN2&6:TY]N23#M9`$B0$5E)U`8,I#R<HB-`HQR;K&'PES$U!(B+,#M\+
M.`!T$2_QPF`[&U)LGR($&7;;+W"H/U8>'2]O2CBFKD)!0#DHG98IIU8_%T`#
M)C#@#$9QFOM'D!3+FF*'->\)*YGS6CX,/00>9A,`.V4]']GKF+8Q$%0(E0*Q
MM-0M2K1'?DP$\=1'4,_O2_D"P7ONVD-Q6B-2N'-N!:+_SE__"1`O]G@]#"'#
MV%2@<\7+1$+/+SE0FA=00#E^1X"U2"ES`M&5HQ%@,T^T]\N^V1/`+A'@'L"Y
M+4`?^+HZ6`W-HR'=]8D/]O[(^#H?#$F%K<7V2Q^=,1)N(@=SM2>B*2A$+9UO
M^BA/79)J:,?B-M+>HO/3?R1=((I#PK=?"3B0^[K?^,*P75?+09.SV!LD`NC_
M3B)@-X.BY"Z$SW=9SDV=3?Y:,Z["D.IBH!L#V/\)"'Y^12\#@H)++R\(?@@O
M2@2'DI.4E9:7F)F:FYR=GI^@H:)^3DA_IZBIJJNLK:ZOL+&RL[2UMK>XN;J[
MO+V^OZUV=Z.AB3*"$1%^'R<N_P:2*(K/DR"*RH)##94?@D\N$$^""$-#+BY*
M0Y(3+RZ7(A5^$1`O/((R+P%^.R\)@@9*VB9!>4'##X\7$X@I7,BPH<.'$"4!
MF`.LHL6+&#-JW,BQH\=@PR)B2K!`T(<$/%P,T3)IW8L<E`B]6"*H`L%*!!*D
M*$?3CP-%0!])ZL'.T@<(+GX$>)%"TD`=*J<M>'%LTA.D*5SD$\FUJ]>O8"GA
MH?BQK-FS:-.J75M16%A)#ER8$#2`Q@4AE)9HT<)M$H$<?`4MF-*7T@4:"`H3
M&:`EAV,MA@X9`'PI`@@:*'H>BE#W0B1!6AP4EA3A\(5K;U.K7LUZ$@`6;&/+
MGDV[MO]M7&Y77PA`I"$($:A;"Q].O+CQ0R/4W%[.O+GSYQ=SK\;;\$/PX]BS
M:]\N"H=RZ.##BQ__7#KW\^C3JU]_:0UL\O#CRY^_T3S[^_CSZP>[9@;]_P`&
M*"`L]NW7D`$GG#"-)@$TP,@4#904`14Z&&CAA0KA0,:`'';H(7P%8DB,(N%L
MXD(A?HB`CT^*P"/BBS!:(H`7']9HXXVTA1CC)XKT9N(+#O@Q53\13-'#CDC&
M*,`*.#;IY),<Z9CD)DJ\T,D\,#7Q@@A3=BDB`/Y!*>:89.(64E@HI%"0'P:D
M\(,@0J1`0`HZ!.F'"2EL(`@**,B0P@Z";*!F-RF,MD$4(B3_((((]2RA`Q10
MT/!9E3E,D<`/?7WP`Q27EHBE'UIR.6<*U$UB0A,!B$`#-Q],D&B=@ER0P@4#
M+#K`G`GTH)F7O"HD0)AE!BOLL*A(&=$Z2N#E$DTF:'/"EGX0T0!3@K@P00HO
M#*$,MDKT)L-6B`Q1R`\O--#;"12>V(\?52X`PE)<1K"4"8Y`H,RGH?I!@"*5
M#&F`"4,8\$$#2ERPQ#D@^$'4"0T\.T0`4(A[0J\4C[(DL1AG+*:Q$&EQHB%3
MO3"7#E$H_`($C50)!9LO;#"`(BP-M(@?4]1S2#1*1.#("^%$MDX[[,Y,B!)/
M_(1R!.+"@R^T$0@UB1:*,&*0'Q>L_R@D/WY@.\0&4+]0\D$OC%;QV)F,L*'&
M:*?](<<0:5DA!$LUX4<#++W\@@$]+#7$`!/([<>)/T3@PK2Z0K#@((_HK,AG
M']3J=)5X=6W"01!,,,&)!2W-I1].2Z)#XI(D\,(4@G";]>B"5'F!'W:72/;K
MEA3`I-JTU_X?VP^94&X%`>@.#LK5$G3"#M/JD$!DY":`@$XOG$!#0(<<]4(1
M4:#N!Q5*0$&N$JE;Z4<.BA2Q,)]\ZJFY()T?HB70AYQXY.E68ON^ZJPK(C;L
M^`M@^_[\DX>[0T10@A)$4*$3I<!O*>*'X8@2`'LA(EN7LEL"2N:')_0E!RY8
M`!5DP`U"Y/^C:D"#7/U>4`%R36P2\V#)5%;&.>[%8QK<\I$@ED(%01"E'?+K
MWNKLAK\>'F(-W^F?$(=XF_\Y9"DDO-H+$K8G19!N9R4YQ+1:%@&'!>D@)Q2=
M"7*P`6Y\CDL_0Q^*R(6R?U#%']SX6`+S\0&G3:MD.:A24_R@)]T%I'A^^!SI
M@C:7:GC/A[`K`!$'24C9&+$A!P%:-+1UB'V)+!Y50H$DJ@>\=6QN"MF:85"4
M4(2?-$]%]!""$G0`@9THP4[1*%>"L#&S@>3C"?SZVPNBF,H3!&`K1($"%?BA
M#*)L3A&2E,EG`#DV01;RF,@LRR$98H`+2(T`)F#B(4!@`A]1<YC_=*05(B[`
M$C\L@0>K,T@`>C"%>6@#!%&@@1"HAP`"&`($.IC`K@;`@Q[L8!H7,!CKG!DM
M$Y@`+PC0P8(<\(,>T$`SLM+!!?KB`'Y^P`07T%,S37`_8G:I`,!*ID8WVI8S
M3>D"C(S'$$YHT9*J)P(JX*A*5]J+9>:'!SDSB1)J:-*:<B<"QF2I3G<Z"Y?B
M)P</RV>#L&G3HA(G`F:8'4^7RE15^!0_!$`!#VA@)Z-:=3A(;:I6M_K4JWKU
MJY/`Z5;'RM2N@O6L5HU`#)1*UK:JU*QHC6M)U>K6NJX4KG+-*_[:D%*[^E6C
M>-6K8"G6!B/\];#(#.Q@%YNDPB+VL814_RQC)RLB$I@!LI@=HF0IRUG]D(`#
MF0TM_S;;V=*NQ["B32WM2&O:UFJ'!#%0K6S3QEK7VI8XGYVM;C-6V]OZ5C5M
M`.UNARNLWO[VN%[)+7&72R;C(O>Y#RD%<Z>[,8]"][K:<8)PJ<M='#D7N^#]
MA'2[2UX;?3>\Z,T$'DQ1WO9ZZ+SIC>\D\+!=]]HW0/"5KWSQ\)[[^O=VUM6O
M@!^"@_[^]\#QR>^`L8L#&B'XP2`*\((G'(H"0_C"XU$PA7_[&@Q[&#P:WK!M
M`>#@#YN8.2$6L6E)?.(6+R?%*N8L'DKLXAH;4L(QSK$?`"`'&_OXQCH.\B$`
M<+8?&SDM,!:R7/_-=N0FHR7)2CXKDYU,Y8]`.<I>34Z5M]R1*V/9J$#DLI@U
MXN4OUS3,8TZS1<IL9HOV1\UP!@:;V^S#-10YSGC6Q9SI#+LWY_G/N=@SGRL6
M@8L!^M"V$/2@>Z4_1#N:%HI>=)<,_>A*OR+2DMX12MEJZ4X[%<>9+BVE/4WJ
M8H$ZU)1M=*E7?0I,H_I"?64UJUW]ZOWD5-:KIG6M\7-K7)=:U[M>#QM\C6M@
M!QL]L29VKD]];*^2(-G*_C6SFVW4"`P[VK(V-K6-DU5L9WO:VRZI9;U=;'"'
M&Y#6)G>YS^U5NJK[V^RVJA-0^^Y9FSO>8XL`O>N];'S7U+'\AK>_+;K_WH"O
M>^"`!+C![8UP'Y)@WPN7=L/QYP0#1USB$R>;<B_.\(Q7C+X</[C'>37CD(M\
MY%/:N,G[C?(IX8"]*^]XRW?D!++$7.8S?]%X;X[SG%]H!##G.<M]?B$\]%CH
M`B>Z@?B+]),K'3\C.'K3>_[T]6AHZDZO>GHLC/6D:ST]=NYZUK^N'1:+W>MD
M+SN-SX[QM&MG#9QF.ZFU[7.SRYWJ;A].V.^.]KP+9PU\]S7=43[EP./=[ZD1
M0!`-/W3$KP;PC!^[X[^BY<CW??)>44%&+=]VS'\%\IR_O.<AXN?0'W[T#.FV
MZ46/^H6H>O6G;[TH"AUWV'MZ\.=VM^U9+WM0_XQZ]YWO_>Q54'O@=QKWU(ZM
M\24O?$[T>OG!;SXGVJ!\Z/->^I:XMO6OC_U)0'O[T>]^)1X.?L'?6_K5+W_L
MQ3]N]3.?_?5U?^/%3YKTRW_^]"<%Q.\?_N[OG/_KUWOZ!H#FEW^"@`?[1X!S
M=WZ3QW0*^'ZMIW`/&(">]W(36(#^9W$7V'^HIUT;B('-QW4?R'V(5W(C"($E
M&'\GR(&.9W<K2(%I5W,O"(*C!P!!-X/XUX)WAH,YZ'<FR(,D6'51!X0TB'B5
M1X1!2'0X('5("(,^MW=-F(0S5WI1Z(0MUV%5B((Y]WM9R()/6'Q=J`I7D`5!
ML`HA``0=$`MGD`5<L/]Y#X9\Z;4&:]>%-N`!)7"'>'@#7Z``#[`*%*``<*"&
M"J``K;`"&N`!$O``$E`"6`"&N'`$N]`%)>`#/N`!#`")'-$"CEA$#-AP7-B%
M;W`%!V`!@W@`!S`&4J``0+`*>\``-1`+&*``,,`*;P`$>C`&RA$"':``/M`"
MOF`#0#"+NF`%"J`!(4"*5K`'&O$&'I`'FV@;<`A><!>&KJ`!@V@'IW``O*@+
M=:``6<`*$J``-Z`*0;"-O7`&WK@+6:``9_`'8#"(&*`1W2B,XA&-UP6%U+@*
MUJ@`V/@'VN@#-M`!=(`%_@$&8W``IS`&8]`"6)"&>R`%=#`&Z/B-JI`!@YC_
M`:J@C7K@BZ88`G]P!*?()"WP!3=@`029D%+P!UA0`RW```I@!0>0!'_P!@+)
M`#9P"AEP`!D0!A2P!:NPCNUH`X-8!J=@`Q30!1U`E"JYD`>`E#YY"F_P!5W`
M`!HP.S5P`#:0`1;0`KL(!P?PE"#6B?@F._E8C=>8C=[H`W20!WJ0DM8H`:=`
MC"Z9!2L@!@K0!37P`.FH"BZI!XOW!V4PB%CP!UR@`#Z)CGGP!TGP`%]P!56@
M`!00EWF0BA;`D]YX!C-@`W`0!'MP`\7X!U<@CNMXDZH`E'_PAT'`)!B0!T"0
M!#Z0!W7P!R6@`&)P!J'9!V'P!QG`!V+@!@>0!R7`_R1VR0!YH`![$)I5<`8>
M&1[VB%R@5Y:LL(_]J(UPX!]TH``E\`?=V(=_L(Y5,`978)$*X)%CL)>I,)OT
MB`I"J0`(N8ZY.8^GD`8)J8JGD`5,8`5CH`$JR8>GX)F#B07T:8UHX`-?^9.\
MZ`-\0`$R^0?E.`9_D(KC.)LIN0)PH`"O:)>#Z09V"09_X`.R^`61:9$468]B
M>6X%\)?0F0K2B9:K^`=[Z`/:R9_=R9ZGL(=5@)/FB0J>&8BJT(V?N8[8")^G
MH`8V,)O<.9JH8(TP&@+A2`$:\(<WJJ2NL(X6D`=YP*%_L`)\`)D:0(JK2(KQ
M^`=ZR0!A,(C**)L*X*`>FO^&IX".W$FB2O=]*:JB9^F/YKB''A"C1\J.I["+
M%-F-(XH*J:@`N9D*Y:D'/DF,02J+?Y`&%L`%%!":8E"?_(@*-;"-1T",5W`&
MG!J/UF@!4\J.+FD%'ND&@[BIG!J;I!B;8JH`-CF(J#";5]"A-'H*`/JFS%FB
MU/9Z<ZJ/=5J>,.JBV*FGE-J.#ZH`?6"K"L`%JW`$>J``@YD*'EJ&?P`#A/H'
ML3B+J1B94CJC_6BG,!H&>AFM2:H`H-H*0+D%Q1F9?U"A#IH*8'H*<0"9(3"(
M;O`',U".@^FA"'D*UHBK8>ES<MJKECJ(A;J'+;J+V1F+W%F8T;J>6[`"NTB(
MJ[#_BQ*PG#.@C1+P!J>@EQT0!ET`B'\0LK.ZA]1:F(7Z!Y<ZJ:#)AX7*D>+H
M"GT`K7]`BGP`B:3X`#*Y`KY(B@RP`F_PK$19C@A9!C!0!?=:CBFIK($:L"V'
M4@3["N5IF*?PA]SIDC!ZJ7%P"FA@H:A@L27@D@K@ABN``<%8`C<0!S!``4&D
M`<^*!A.[`F4`!YM)`4R`!NW8M6`9`C"0!PSP!C-@`7K0!R7P`.WXA]G9"EVK
MGR'0M4`P`VG@`=Y8`F+`H:38!3[`!7K`IB$0!#!P!0^0!5BJE^SZ!V%0F"8)
MIR@G5E'K"C(Y`V&B'-\ANW]@!RNPH#*YH$5Y!5O@'TD`_X8V<`"2*P&8B`I@
MP+MJ,`._.Y-2P*%E,`:Y"[NIL`57P*HS.08U<*^UJYBNR[U_X)%)\!UO(`4:
M4*BD>`;C2YKJ*048`"RYFPI)<`!AFJNK>UFMRQPU8)\=X(OQX9G&"B7-V5FJ
M=[_+D08AZP/+21ZS^;]/$L"4M6D$[!Q[H`%G"A^SJ9_5E7&Z%\%+50=G`)8-
MK*N99K\<3&P./%C4]XPE7&DGK%<2N,):N&OV!\/+$0(9D`%NJ%LM'%<DH'TT
MO`IE>P`:P+]I<02#F,.YD`2ZJPK:.PLS@*)9^JVLN`K**R`[?%8J]\/3*P9!
M,`86``=+/`LK8`,,P`LM`*N^@/\%0,``BEB5IY`$%O``%B`!_?H*&"`&-Y`%
M?4`!89(&7R`&#)`%=8RO&J"6J9`&-^`#<XR1`!9OL*7%K?":"[JTM@"@5L`+
M*\"HO>"LKVC$"L#(N^B3'CJ_K!`&?("06S"(KUBS?+J+1.F;5?"LYYJE@IN;
M=JF4\W'%SJ:"D'P*<,`$*9L*;G`$P3RD-I"R$YD*,W`$FK@*+?"4RZR[C!H&
M$:O,;U#-JK`"%6R\'IG)7MNXE_P'"OL*25`"\MFJ=&"Z3*``OFB-9>BH&."A
M9=RF3$"1I#C+\J'+5I7%O8P*Q&BXP!(&%F`%'6`%7:`</@`##.`!7)`'LVH#
M=@D'/A#_L04=R`_@DU\``S[@F:Z*!8^)!N\JBQW@`7`@`:2I`59`!S[P`/'X
M!F@@`1D`J:YPQE7`L7\(E\>:GK#@L?LYMKHYB&"YIJC@DBWZAUM+'_I<5.37
MSZQ`BH,8!,NYBV5\J?KIH1*P`HV[D7_@IFW*G^@(JJ')!""J`'K@`QE0CLSZ
M!X)YF@I0AF'`!'UHQ'19IA)0F%_`"DEP!'&,B9[)G=JH`%"\"F6J`$0YM:?@
MHUA*JVR*IL&ZAWS0R-3F@4S-"BOP!>N,K)IHK8/YCNDLN6PJN:!JC2TZFV6L
MI3>JL5EJK>WHHS))UC+IHR%0GJ6]I9!(U@<0!@F<"D?``(GX_P7R::1HJ0!-
M_`JI.,][2+$^BLM"?0H>VMAD#=G']G^3O0I;P`!;BL"#"`0EX`%RC*;O2HJ3
MVJWAN(B4VX?_2*FQN9[WJLGK60;#>X=B\``WJ0!H$`M[8*UIF+-HR02RT`(*
M/3M_?=B#6+S+/;)WJ@`WBM0BK&.2/=W$[8WU2K/G6:N>68;G_0?A.,^H<.'K
MF-YHS-Z#6*2NN@J:#`OE"*.AR9VAB=.OL`)AFPKHZ-.QF`>Z6^"[2*V[V**Y
MO.`Q)MT.ON%A\HZ@6IB+?0JSR:9`D*9V2JV>R;(;;HX=_@?K^;V#J!SH"`,S
ML+(DKM.HL`*KW*J@&@9H$,XN.<^V6?_,BED"05`''DR4;\W.*COBJ)#DBWT&
M3(#3GEFZ^<SC(B:"/UZ:%G`$1:JS?^"V<*`!-J`!L3F;<9`!7Z`'6:`<L=@'
M(1`&1V"M%&`#&/"*DGH*ZQR//CH#9]P'53F;"*D&>MD%8(`!LUJOB<D*`(H!
M9:L'$O"4J=B^$@`#OK@"5L`$I/P';E".@SB(YTH!>7``+D[IJ:"7L[P"%*`'
M1Y`$??``N9U@?$YA!??G0)RV5;"(F.CE#\`$?>`!'CF;%F"+$A"F24`'3.`!
M\8@%"%H%0,"A-;#160H$9@V8/A`$PWP#15H"$O`%86(#/H`&,``$K[@%01`$
M.1P&'2`&B$C_!V`)QQ+@`4%@K$;<!6$,T91(B4#`KFD`NH7+P"/K`[.*"HB,
M[SY0O#M>:PZH[;LPFW?M(0=0!=7>/TG=0WX.\[D@N3/?(4!`KD24\["S\SR/
M"QZJYP*B!G2@PK1U[?IE]$=_"S?P`">_940_-BXX]3&<8UO/]5(H8E\/]E:X
M82,PAV1?]A-&9&D?;5G?)6S?]LKV]DDR`DXO]X]&]SMRA'A?A$'&]WW?]0(V
M`H&/;7HO(E18^((?7[^B^&X/];Z5^(X?]N'5^),_]Y#?6A!\^9B?8Y_(^3TH
M8)\/^EZ87L1'^H\O8J./^@M(86U`EJS?^1-&PK%OPIG/6,]7^Y1O_UO/ION&
M?_N"-<.^O_NM-;##'_K/U7['+_OHM<'+[_?0-<#/#_W(M=33S_S7Y?S7O_B4
M17W;__O8Y>/?3_R"U08^//[4[UK6C_ZVG_P:R/[DS\,)"/]JGU<XP,OT7_\\
M_/[Y#PA_@H.$A8:'B(F*BXR-CH^0D9*3E(-V=WZ9FIN<G9Z?H*&BHZ2EIIPD
M')6KK*VNK["QLK.TM;:WN+FZN[R5EZ?`P<+#Q*0`2+W)RLO,S<[/T-'2T\Z_
MQ=?8V=J9)%[4W^#AXN/DY>;GL=;;Z^SMG:GH\?+S]/7V]_CJ[OO\Q0`L^`(*
M'$BPH,&#A_3U6\A0E!.`""-*G$BQHL5TF/\::MRXR0FRBR!#BAQ),J!"CBCW
MC9A3LJ7+ES!CZCJ9LJ8V/!!EZMS)LZ=/FC:##OOGLZC1HT@E`A7*M-0(-4FC
M2IU*5=S2IE@_X<A9M:O7KV!E7<U*-M,(KF'3JEW+EM#8LEA'S&A+MZ[=J6_A
M"@7@[:[?OX!?YM5;4T#?P(@3*T8XF#!'`"L62YY,>5YCQPT!L*S,N;/G:)<Q
M]Q,0^;/ITZAOA1;M;D3JU[!C^\K(VN8(,K)SZ]Y=:'5M;05X"Q\.V_?O:ZZ)
M*U_.V?CQ80*@,I]./;#SY\!45-_.O>YU[*76S.U.OKS7[^!#12@PWKS[]T?1
MI_<4P0S\^_AYRI__SXET_O\`EK0??WY$H$)I`2:HX$0#\F??@A!&6%"#X$7@
MGX089D@/A<]%$`."&H8HHE6T$3C,@R.FJ*(T'-;6AG8KQBCC,BV*UH81,^:H
M8RXU8A;#CD`&B9&)P)"`HI!()AE)CW#!H^234"[")%GU16GEE6Z52"0H)."(
MY9=13MF4DV"6F:280E5IYII"HFF3$ZJP*>>.;J;DT9QXYE@G1VW\F.>?*^ZI
M$4Z`%IJBH`R1@):AC$:(:#]X>-GHI(YJ:>)6E&8*X:/N**KIIPERR@X.<8)J
M*GZB;L/7J:S>EVHVW;0JJWNO7G/,K+B25RLQJ^;J:W6["O/0K\1.%RPP_YH5
MJZQRQYH"`&[+1LM;LZ1@*NVUN5$KRE/8=AN;MJ!PZ^VXJ('KR5GDIFN:N9R(
MI^Z[G;&KB5SPUDN9O'ZL<9B]_"(F[X7]!@P8NY`);/!?YAIV\,)V@0LPPQ"K
MI>T:($9L\5?4%E#QQ1Q3U6QP'8?<U;$"B&RRQY;:!/+)+".U*XPMQUQ4K0*T
M)_/-.KT*,\X\QR2JFCT'+5C*#1FXL=!(@_0HT$DW'1*B;1SI]-05">KAT51G
M;=">'FKM-8-$N_/BUV0S%C8[-Y:M]H1G;Y/VVG";U'8V;;`1]]WW3$DFWGS'
MP^3>?0=>3H^`"VYX.#46?OCBT[2H...0/\-AE_^15][XW,#<:?GFDF-N"@X?
M<2XZC9Z3HOGHJ/>R'QZAI^XZCZ6'0M3KM.."'J&UYU[+=];J[ON0O"[Z^_"S
M$=,[\<@7+\SQR3>_9.R:`&"S\]0[LEJOU6??2&C8:^]](I<5_/WXB#3V+/GH
M&S+8;>FW;PGF*[DO_UOBRM_^6-'9/__9]>N?_E+N\I_[@,(>`>[/$P$TX/VT
M9"&L*=!["M'8`P^HB8=-$'W66(\#+Z@]:^R,@__#A`5!2+Y+F&&#),R>'5:6
MPONUH(7S>R$,73A#&M80@S*\X?CLD$,=0K"'/E0A$(-(/1X2\8='[.`0DX@\
M(S*QB$M\XN^<*,7D4;'_BL2[(A:G&,4MTDZ+7LP=&,/XQ2Z2$75C/&/JTJC&
MT;&QC9Q[(QPM)\<Y1JZ.=F0<'O-XN#WR47!^_&/?`BE(O!&RD'$[)"+7ILA%
MEJV1COP:)".IM4E2DFJ6O*33,JG)I'&RDT+[)"A[)LI1XJR4II09*E/9LE6R
M\F2N?*7(8BG+CM&REA>[)2XCILM=,JR7OCP8,(,IL&$2LU_&/*:]DJE,>#&S
MF>IZ)C3))<UI>JN:UL06-K,IK6UR<UG>_&:QPBG.7Y&SG+DZ)SIGI<YUMJJ=
M[CP5/.,)JGG24U/VO">E\JG/1O&SGX;Z)T`!)="!YJF@!IT30A/*IH4RU$P.
M_WTHF"(J42Q1M*)6NBA&H:31C2JIHQY%$DA#&J21DI1.9CSINTRJTAFQM*4Q
M>BE,5233F8ZHIC8-$4YSFJ&=\E1"/OWIIE(JU&@%M:BA(BI2QZG4I9JSJ4Y-
M)U2CRLZI4O6=5KVJ/+.JU7IRM:OX_"I8]RG6L?JSK&8-*%K32M"ULO6@;GVK
M0N,JUX;2M:X0O2M>)ZK7O5JTKW[-*&`#R]'!$O:CACVL2!.KV)(RMK$HA:Q7
M)?NIHU(V6X^];$PSJUF:<K:S-_TL:'4JVM'VM+2F!2IJ4SM4UK;5M7^R+&SC
MM=K9`DBVMKU7;7.+JMWR%CZX_:UB@BM<?_FVN.4A+O]R$7;<Y7)'N<YM6'.C
M2QWH4K<MUKWN6K*KW;1PM[N.<$,88M&"Z:GA"'Z;+GBGL0(I/(`!'?`!%OX`
M`P\,@@YH&,\!;D`(#%"@`Q08;P@HX($OW*`$;Q@$%@XPX`YT`;U)Z$`-&)"&
M/\P`"SX(@2#.\`4*8"`9WUTO(KX`@RT(8@8OS$()!E$".`Q"`QT@A`:2\`8%
M2&$%#Y#`>"P`!Q/_H01AP`(&9N`#'_R!`EWX`QT8L`(*E$`!XVT!$UI0!C14
MF!<A%K$A^F`!0ZB8Q3!X\1<,4088U*$,"HCQAA4PAC^$8<6#\$`)DB"&&'?@
M`8+X@@+L\`<-*&`%6U!`'53_IUXM.R,$"ABS(+8PWB\+H@1A%H0&%#T(&_B@
M`RWP\P$&48<T_Z$#\Q5$&:I0AA9DP<Y9R/.>_W``!?RA!0HX`Z$-#9,56($!
M@^@#?QW]ARXPH312J($ATL"$+J"9`H.H@0(T$(8^2"<)'IBO&^K\!P8`0=5\
M]O,?`@V&6=/Z)0RHPI6ST&5>Z]D&@NB"CP61X!7`H00SX`(0(K,"'_3!#1I`
MMB`HH`$;)-@"_+T!KH^\ZB-`&0Q,<(.WO]V2&=P9P%F0`GTE<`,/I&$%'9``
M`RP@<4)8@`(,*`%ZCV"!$GS!`Q;8PQ\L+H@#H`$&,`C"MGUP@"#(L`-HT/"G
M.V"!R4TOG.$N28)T$+$".QQM!=-;P1&ZX(-NZSP1"D^$&J8WDT(#W2`6Z`.Z
M-V3UJQ-D!2@<1Y:]_I.ND]TS8S_[3M*N=IFPO>TP>3O<72+WN0O(['9?3-WS
M+I*]\UUI>/^[=0(O>.86WE&$/[QT%;\@OS,^(HY__$$B+_D));[R$KL\YL-"
M^<V;1/.>/P_H0U^5SI.^'J8_O65&K_JHI+[UZ'@][,TA^]F3H_:VMPKK<U]V
;WF\'][ZG!O"#SZ+=$]_MQC]^W).O?+H'`@`[
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
