Utility Corp. Declares Monthly Dividend

TORONTO, March 10 /CNW/ - The Board of Directors of Utility Corp. (the "Company") has today declared a regular monthly dividend distribution of $0.065 per Class C Share payable on March 31, 2010 to holders of record at the close of business on March 26, 2010.

Shareholders are entitled to receive dividends as declared by the Board of Directors of Utility Corp. It is the Company's policy to declare and pay equal monthly dividends on the outstanding Class C Shares based on revenue received less expenses.

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

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For further information: Investor Relations, Utility Corp., [phone], E-mail: [email protected], Web site: www.scotiamanagedcompanies.com