UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

The Gabelli Dividend & Income Trust

(Exact name of registrant as specified in charter)

One Corporate Center
Rye, New York 10580-1422

(Address of principal executive offices) (Zip code)

Bruce N. Alpert
Gabelli Funds, LLC
One Corporate Center
Rye, New York 10580-1422

(Name and address of agent for service)

Registrant’s telephone number, including area code: 1-800-422-3554

Date of fiscal year end: December 31

Date of reporting period: September 30, 2010

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 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.

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 (“OMB”) 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. § 3507.

 

 

Item 1. Schedule of Investments.

The Schedule(s) of Investments is attached herewith.

The Gabelli Dividend & Income Trust
Third Quarter Report – September 30, 2010

		Mario J. Gabelli, CFA		Barbara G. Marcin, CFA		Robert D. Leininger, CFA

To Our Shareholders,

     During the third quarter of 2010, The Gabelli Dividend & Income Trust’s (the “Fund”) total return was 15.1% on a net asset value (“NAV”) basis, compared with 11.3% and 11.1% for the Standard & Poor’s (“S&P”) 500 Index and the Dow Jones Industrial Average, respectively. The total return for the Fund’s publicly traded shares was 17.8% during the third quarter of 2010.

Enclosed is the investment portfolio as of September 30, 2010.

Comparative Results

																						Since
						Year to																Inception
		Quarter				Date				1 Year				3 Year				5 Year				(11/28/03)
Gabelli Dividend & Income Trust
NAV Total Return (b)			15.09	%			6.20	%			13.05	%			(7.27	)%			1.18	%			4.05	%
Investment Total Return (c)			17.81				10.83				18.93				(5.56	)			2.42				2.28
S&P 500 Index			11.30				3.91				10.18				(7.15	)			0.64				3.17
Dow Jones Industrial Average			11.13				5.57				14.12				(5.37	)			3.11				4.06
Nasdaq Composite Index			12.30				4.38				11.60				(4.29	)			1.94				2.81

THE GABELLI DIVIDEND & INCOME TRUST
SCHEDULE OF INVESTMENTS
September 30, 2010 (Unaudited)

						Market
Shares						Value
				COMMON STOCKS — 90.9%
				Aerospace — 2.0%
	10,000			Goodrich Corp.		$	737,300
	40,000			Kaman Corp.			1,048,400
	164,000			Rockwell Automation Inc.			10,123,720
	2,000,000			Rolls-Royce Group plc†			18,960,691
	80,000			The Boeing Co.			5,323,200
							36,193,311
				Agriculture — 0.2%
	100,000			Archer-Daniels-Midland Co.			3,192,000
				Automotive — 0.1%
	100,000			Ford Motor Co.†			1,224,000
	27,100			Navistar International Corp.†			1,182,644
							2,406,644
				Automotive: Parts and Accessories — 1.0%
	27,000			BorgWarner Inc.†			1,420,740
	370,000			Genuine Parts Co.			16,498,300
							17,919,040
				Building and Construction — 0.0%
	30,000			Layne Christensen Co.†			776,700
				Business Services — 0.7%
	165,000			Diebold Inc.			5,129,850
	120,000			Intermec Inc.†			1,471,200
	34,000			Lender Processing Services Inc.			1,129,820
	20,000			MasterCard Inc., Cl. A			4,480,000
	18,000			PHH Corp.†			379,080
	126,000			Trans-Lux Corp.† (a)			61,740
							12,651,690
				Cable and Satellite — 1.5%
	440,000			Cablevision Systems Corp., Cl. A			11,523,600
	16,000			Cogeco Inc.			489,843
	5,000			DIRECTV, Cl. A†			208,150
	240,000			DISH Network Corp., Cl. A			4,598,400
	50,000			EchoStar Corp., Cl. A†			954,000
	80,000			Liberty Global Inc., Cl. A†			2,464,800
	33,000			Liberty Global Inc., Cl. C†			1,008,480
	162,000			Rogers Communications Inc., Cl. B			6,063,660
							27,310,933
				Communications Equipment — 0.1%
	30,000			Thomas & Betts Corp.†			1,230,600
				Computer Hardware — 0.1%
	30,000			SanDisk Corp.†			1,099,500
				Computer Software and Services — 0.6%
	180,000			McAfee Inc.†			8,506,800
	60,000			Microsoft Corp.			1,469,400
	90,000			Yahoo! Inc.†			1,275,300
							11,251,500
				Consumer Products — 3.8%
	185,000			Alberto-Culver Co.			6,965,250
	20,000			Altria Group Inc.			480,400
	45,000			Avon Products Inc.			1,444,950
	400,000			Eastman Kodak Co.†			1,680,000
	90,000			Fortune Brands Inc.			4,430,700
	50,000			Hanesbrands Inc.†			1,293,000
	75,000			Harman International Industries Inc.†			2,505,750
	200,000			Kimberly-Clark Corp.			13,010,000
	25,000			Philip Morris International Inc.			1,400,500
	1,000,000			Swedish Match AB			26,675,173
	145,000			The Procter & Gamble Co.			8,695,650
							68,581,373
				Consumer Services — 0.1%
	19,500			Dollar Thrifty Automotive Group Inc.†			977,730
				Diversified Industrial — 3.2%
	100,000			Bouygues SA			4,292,199
	150,000			Cooper Industries plc			7,339,500
	520,000			General Electric Co.			8,450,000
	280,000			Honeywell International Inc.			12,303,200
	95,000			ITT Corp.			4,448,850
	126,000			Owens-Illinois Inc.†			3,535,560
	7,000			Sulzer AG			812,090
	300,000			Textron Inc.			6,168,000
	275,620			Tyco International Ltd.			10,123,523
							57,472,922
				Electronics — 1.5%
	940,000			Intel Corp.			18,076,200
	100,000			Texas Instruments Inc.			2,714,000
	200,000			Tyco Electronics Ltd.			5,844,000
							26,634,200

See accompanying notes to schedule of investments.

THE GABELLI DIVIDEND & INCOME TRUST
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2010 (Unaudited)

						Market
Shares						Value
				COMMON STOCKS (Continued)
				Energy and Utilities: Electric — 4.7%
	40,000			Allegheny Energy Inc.		$	980,800
	85,000			ALLETE Inc.			3,096,550
	230,000			American Electric Power Co. Inc.			8,332,900
	720			Brookfield Infrastructure Partners LP			13,968
	300,000			DPL Inc.			7,839,000
	40,000			Edison International			1,375,600
	270,000			Electric Power Development Co. Ltd.			8,118,112
	695,000			Great Plains Energy Inc.			13,135,500
	365,000			Integrys Energy Group Inc.			19,001,900
	105,000			Pepco Holdings Inc.			1,953,000
	230,000			Pinnacle West Capital Corp.			9,492,100
	100,000			Southern Co.			3,724,000
	222,000			UniSource Energy Corp.			7,421,460
							84,484,890
				Energy and Utilities: Integrated — 10.8%
	12,000			Alliant Energy Corp.			436,200
	150,000			Ameren Corp.			4,260,000
	50,000			Avista Corp.			1,044,000
	55,000			Black Hills Corp.			1,716,000
	40,000			CH Energy Group Inc.			1,766,400
	108,000			Chubu Electric Power Co. Inc.			2,668,951
	228,000			CONSOL Energy Inc.			8,426,880
	185,000			Consolidated Edison Inc.			8,920,700
	70,000			Dominion Resources Inc.			3,056,200
	160,000			Duke Energy Corp.			2,833,600
	400,000			Edison SpA			502,495
	630,000			El Paso Corp.			7,799,400
	126,000			Endesa SA			3,372,700
	450,000			Enel SpA			2,398,642
	60,000			Exelon Corp.			2,554,800
	125,000			FirstEnergy Corp.			4,817,500
	116,000			Hawaiian Electric Industries Inc.			2,614,640
	250,000			Hera SpA			476,797
	121,500			Hokkaido Electric Power Co. Inc.			2,418,939
	121,500			Hokuriku Electric Power Co.			2,774,066
	105,000			Iberdrola SA, ADR			3,219,300
	100,000			Korea Electric Power Corp., ADR†			1,293,000
	121,500			Kyushu Electric Power Co. Inc.			2,774,066
	22,000			Maine & Maritimes Corp.			987,800
	72,000			MGE Energy Inc.			2,850,480
	35,102			National Grid plc, ADR			1,500,259
	220,000			NextEra Energy Inc.			11,965,800
	235,000			NiSource Inc.			4,089,000
	525,000			NSTAR			20,658,750
	400,000			OGE Energy Corp.			15,948,000
	25,000			Ormat Technologies Inc.			729,250
	300,000			Progress Energy Inc.			13,326,000
	245,000			Public Service Enterprise Group Inc.			8,104,600
	121,500			Shikoku Electric Power Co. Inc.			3,485,775
	15,000			TECO Energy Inc.			259,800
	121,500			The Chugoku Electric Power Co. Inc.			2,397,107
	50,000			The Empire District Electric Co.			1,007,500
	121,500			The Kansai Electric Power Co. Inc.			2,950,174
	108,000			The Tokyo Electric Power Co. Inc.			2,634,020
	121,500			Tohoku Electric Power Co. Inc.			2,686,739
	200,000			Vectren Corp.			5,174,000
	450,000			Westar Energy Inc.			10,903,500
	85,000			Wisconsin Energy Corp.			4,913,000
	150,000			Xcel Energy Inc.			3,445,500
							192,162,330
				Energy and Utilities: Natural Gas — 4.4%
	17,000			Atmos Energy Corp.			497,250
	22,000			Delta Natural Gas Co. Inc.			676,500
	6,000			Energen Corp.			274,320
	160,356			GDF Suez, Strips			219
	20,000			Kinder Morgan Energy Partners LP			1,370,000
	400,000			National Fuel Gas Co.			20,724,000
	190,000			Nicor Inc.			8,705,800
	200,000			ONEOK Inc.			9,008,000
	180,000			Sempra Energy			9,684,000
	35,000			South Jersey Industries Inc.			1,731,450
	140,000			Southern Union Co.			3,368,400
	190,000			Southwest Gas Corp.			6,382,100
	610,000			Spectra Energy Corp.			13,755,500
	43,000			The Laclede Group Inc.			1,480,060
							77,657,599
				Energy and Utilities: Oil — 10.0%
	70,000			Anadarko Petroleum Corp.			3,993,500
	37,000			Apache Corp.			3,617,120
	44,000			BG Group plc, ADR			3,890,040
	110,000			BP plc, ADR			4,528,700
	100,774			Chesapeake Energy Corp.			2,282,531
	225,000			Chevron Corp.			18,236,250
	318,000			ConocoPhillips			18,262,740
	78,000			Devon Energy Corp.			5,049,720
	168,000			Eni SpA, ADR			7,254,240
	205,000			Exxon Mobil Corp.			12,666,950
	36,000			Hess Corp.			2,128,320
	470,000			Marathon Oil Corp.			15,557,000
	136,000			Murphy Oil Corp.			8,421,120
	232,000			Occidental Petroleum Corp.			18,165,600
	5,000			PetroChina Co. Ltd., ADR			582,100
	100,000			Petroleo Brasileiro SA, ADR			3,627,000
	270,000			Repsol YPF SA, ADR			6,947,100
	185,000			Royal Dutch Shell plc, Cl. A, ADR			11,155,500

See accompanying notes to schedule of investments.

THE GABELLI DIVIDEND & INCOME TRUST
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2010 (Unaudited)

						Market
Shares						Value
				COMMON STOCKS (Continued)
				Energy and Utilities: Oil (Continued)
	775,000			Statoil ASA, ADR		$	16,259,500
	150,000			Sunoco Inc.			5,475,000
	185,000			Total SA, ADR			9,546,000
							177,646,031
				Energy and Utilities: Services — 3.4%
	200,000			ABB Ltd., ADR			4,224,000
	74,000			Cameron International Corp.†			3,179,040
	102,000			Diamond Offshore Drilling Inc.			6,912,540
	520,000			Halliburton Co.			17,196,400
	5,000			Nabors Industries Ltd.†			90,300
	10,000			Noble Corp.			337,900
	38,000			Oceaneering International Inc.†			2,046,680
	180,000			Rowan Companies Inc.†			5,464,800
	120,000			Schlumberger Ltd.			7,393,200
	45,000			Transocean Ltd.†			2,893,050
	650,000			Weatherford International Ltd.†			11,115,000
							60,852,910
				Energy and Utilities: Water — 0.8%
	11,000			American States Water Co.			393,580
	360,000			American Water Works Co. Inc.			8,377,200
	74,000			Aqua America Inc.			1,509,600
	6,000			Artesian Resources Corp., Cl. A			114,420
	3,000			California Water Service Group			110,850
	11,500			Connecticut Water Service Inc.			275,425
	2,500			Consolidated Water Co. Ltd.			23,700
	6,000			Middlesex Water Co.			101,040
	60,000			Pennichuck Corp.			1,380,600
	90,000			SJW Corp.			2,216,700
	12,000			The York Water Co.			192,360
	25,000			United Utilities Group plc, ADR			450,000
							15,145,475
				Entertainment — 0.9%
	8,000			Grupo Televisa SA, ADR			151,360
	90,000			Madison Square Garden Inc., Cl. A†			1,897,200
	250,000			Take-Two Interactive Software Inc.†			2,535,000
	200,000			Time Warner Inc.			6,130,000
	210,000			Vivendi			5,739,973
							16,453,533
				Environmental Services — 0.7%
	1,250			Suez Environnement Co. SA			23,090
	12,375			Veolia Environnement			325,933
	350,000			Waste Management Inc.			12,509,000
							12,858,023
				Equipment and Supplies — 1.3%
	95,000			CIRCOR International Inc.			3,002,000
	57,000			Lufkin Industries Inc.			2,502,300
	65,000			Mueller Industries Inc.			1,721,850
	397,000			RPC Inc.			8,400,520
	200,000			Tenaris SA, ADR			7,684,000
							23,310,670
				Financial Services — 11.5%
	166,000			Aflac Inc.			8,583,860
	80,000			AllianceBernstein Holding LP			2,112,800
	450,000			American Express Co.			18,913,500
	300,000			AmeriCredit Corp.†			7,338,000
	10,000			Astoria Financial Corp.			136,300
	590,000			Bank of America Corp.			7,734,900
	22,000			BlackRock Inc.			3,745,500
	1,500,000			Citigroup Inc.†			5,850,000
	18,000			CME Group Inc.			4,688,100
	90,000			Deutsche Bank AG			4,943,700
	470,000			Discover Financial Services			7,839,600
	100,909			Fidelity National Financial Inc., Cl. A			1,585,280
	230,000			Fidelity National Information Services Inc.			6,239,900
	64,000			HSBC Holdings plc, ADR			3,237,760
	90,000			Hudson City Bancorp Inc.			1,103,400
	125,000			Invesco Ltd.			2,653,750
	485,000			JPMorgan Chase & Co.			18,463,950
	200,000			Legg Mason Inc.			6,062,000
	40,000			M&T Bank Corp.			3,272,400
	78,000			Moody’s Corp.			1,948,440
	110,000			Morgan Stanley			2,714,800
	80,000			National Australia Bank Ltd., ADR			1,963,200
	180,000			New York Community Bancorp Inc.			2,925,000
	240,000			NewAlliance Bancshares Inc.			3,028,800
	200,000			PNC Financial Services Group Inc.			10,382,000
	100,000			Popular Inc.†			290,000
	225,000			SLM Corp.†			2,598,750
	46,000			State Street Corp.			1,732,360
	130,000			T. Rowe Price Group Inc.			6,508,450
	540,000			The Bank of New York Mellon Corp.			14,110,200
	73,000			The Blackstone Group LP			926,370
	290,000			The Travelers Companies Inc.			15,109,000
	370,000			Waddell & Reed Financial Inc., Cl. A			10,123,200
	10,000			Webster Financial Corp.			175,600
	530,000			Wells Fargo & Co.			13,318,900
	19,260			Willis Group Holdings plc			593,593
	160,000			Wilmington Trust Corp.			1,436,800
							204,390,163

See accompanying notes to schedule of investments.

THE GABELLI DIVIDEND & INCOME TRUST
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2010 (Unaudited)

						Market
Shares						Value
				COMMON STOCKS (Continued)
				Food and Beverage — 10.7%
	80,000			Campbell Soup Co.		$	2,860,000
	350,000			China Mengniu Dairy Co. Ltd.			1,082,635
	235,000			ConAgra Foods Inc.			5,155,900
	60,000			Constellation Brands Inc., Cl. A†			1,061,400
	300,082			Danone			17,948,711
	1,900,000			Davide Campari — Milano SpA			11,364,411
	270,000			Dr. Pepper Snapple Group Inc.			9,590,400
	540,000			General Mills Inc.			19,731,600
	80,000			H.J. Heinz Co.			3,789,600
	220,000			ITO EN Ltd.			3,613,081
	1,000			Kellogg Co.			50,510
	300,000			Kikkoman Corp.			3,309,775
	750,000			Kraft Foods Inc., Cl. A			23,145,000
	150,000			Morinaga Milk Industry Co. Ltd.			643,268
	200,000			NISSIN FOODS HOLDINGS CO. LTD.			7,223,287
	1,400,000			Parmalat SpA			3,591,897
	339,450			Parmalat SpA, GDR (b)(c)			872,149
	55,000			PepsiCo Inc.			3,654,200
	74,000			Pernod-Ricard SA			6,178,940
	19,319			Remy Cointreau SA			1,301,163
	1,250,000			Sara Lee Corp.			16,787,500
	310,000			The Coca-Cola Co.			18,141,200
	340,000			The Hershey Co.			16,180,600
	430,000			YAKULT HONSHA Co. Ltd.			13,279,109
							190,556,336
				Health Care — 3.3%
	37,000			Abbott Laboratories			1,932,880
	240,000			Boston Scientific Corp.†			1,471,200
	235,000			Bristol-Myers Squibb Co.			6,370,850
	110,000			Covidien plc			4,420,900
	100,000			Crucell NV, ADR†			3,326,000
	120,000			Eli Lilly & Co.			4,383,600
	50,000			Johnson & Johnson			3,098,000
	70,000			Mead Johnson Nutrition Co.			3,983,700
	150,000			Merck & Co. Inc.			5,521,500
	112,500			Owens & Minor Inc.			3,201,750
	705,000			Pfizer Inc.			12,104,850
	26,000			Schiff Nutrition International Inc.			213,200
	40,000			St. Jude Medical Inc.†			1,573,600
	60,000			Watson Pharmaceuticals Inc.†			2,538,600
	75,000			Zimmer Holdings Inc.†			3,924,750
							58,065,380
				Hotels and Gaming — 0.3%
	15,000			Accor SA			547,721
	75,000			Boyd Gaming Corp.†			543,750
	800,000			Ladbrokes plc			1,686,512
	60,000			Las Vegas Sands Corp.†			2,091,000
							4,868,983
				Machinery — 0.7%
	200,000			CNH Global NV†			7,328,000
	70,000			Deere & Co.			4,884,600
							12,212,600
				Manufactured Housing and Recreational Vehicles — 0.0%
	16,000			Skyline Corp.			324,160
				Metals and Mining — 1.0%
	16,000			Agnico-Eagle Mines Ltd.			1,136,480
	280,000			Alcoa Inc.			3,390,800
	20,000			Alliance Holdings GP LP			865,200
	6,000			Arch Coal Inc.			160,260
	8,000			BHP Billiton Ltd., ADR			610,560
	125,000			Freeport-McMoRan Copper & Gold Inc.			10,673,750
	25,000			Peabody Energy Corp.			1,225,250
							18,062,300
				Paper and Forest Products — 0.5%
	400,000			International Paper Co.			8,700,000
				Publishing — 0.1%
	702,600			Il Sole 24 Ore†			1,266,239
				Real Estate — 0.0%
	18,000			Brookfield Asset Management Inc., Cl. A			510,660
				Retail — 2.2%
	220,000			CVS Caremark Corp.			6,923,400
	142,000			Ingles Markets Inc., Cl. A			2,358,620
	105,000			Macy’s Inc.			2,424,450
	400,000			Safeway Inc.			8,464,000
	300,000			Sally Beauty Holdings Inc.†			3,360,000
	90,000			The Great Atlantic & Pacific Tea Co. Inc.†			356,400
	35,000			Wal-Mart Stores Inc.			1,873,200
	330,000			Walgreen Co.			11,055,000
	75,000			Whole Foods Market Inc.†			2,783,250
							39,598,320

See accompanying notes to schedule of investments.

THE GABELLI DIVIDEND & INCOME TRUST
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2010 (Unaudited)

Shares/						Market
Units						Value
				COMMON STOCKS (Continued)
				Specialty Chemicals — 1.4%
	2,000			Airgas Inc.		$	135,900
	5,000			Arkema, ADR			255,300
	100,000			Ashland Inc.			4,877,000
	155,000			E. I. du Pont de Nemours and Co.			6,916,100
	380,000			Ferro Corp.†			4,898,200
	100,000			Olin Corp.			2,016,000
	190,000			The Dow Chemical Co.			5,217,400
							24,315,900
				Telecommunications — 6.5%
	610,000			AT&T Inc.			17,446,000
	300,000			BCE Inc.			9,750,000
	33,000			Belgacom SA			1,286,862
	45,000			Bell Aliant Regional Communications Income Fund			1,131,451
	10,000			CenturyLink Inc.			394,600
	735,000			Deutsche Telekom AG, ADR			10,018,050
	200,000			Fastweb SpA†			4,888,622
	55,000			France Telecom SA, ADR			1,184,150
	200,000			Frontier Communications Corp.			1,634,000
	30,000			Hellenic Telecommunications Organization SA			215,939
	219,800			Hellenic Telecommunications Organization SA, ADR			775,894
	215,000			Portugal Telecom SGPS SA			2,869,441
	2,200,000			Sprint Nextel Corp.†			10,186,000
	80,000			Telecom Italia SpA, ADR			1,114,400
	15,000			Telefonica SA, ADR			1,112,250
	165,000			Telefonos de Mexico SAB de CV, Cl. L, ADR			2,463,450
	110,000			Telekom Austria AG			1,655,533
	38,000			Telephone & Data Systems Inc.			1,246,400
	100,000			Telephone & Data Systems Inc., Special			2,835,000
	125,000			Telstra Corp. Ltd., ADR			1,586,250
	76,100			TELUS Corp., Non-Voting			3,222,835
	1,000,000			Verizon Communications Inc.			32,590,000
	40,000			VimpelCom Ltd., ADR†			594,000
	265,000			Vodafone Group plc, ADR			6,574,650
							116,775,777
				Transportation — 0.5%
	250,000			GATX Corp.			7,330,000
	20,000			Kansas City Southern†			748,200
							8,078,200
				Wireless Communications — 0.3%
	113,000			United States Cellular Corp.†			5,194,610
				TOTAL COMMON STOCKS			1,621,189,232

Shares
				CONVERTIBLE PREFERRED STOCKS — 1.2%
				Automotive — 0.3%
	110,000			Ford Motor Co. Capital Trust II, 6.500% Cv. Pfd.			5,270,100
				Broadcasting — 0.0%
	15,266			Emmis Communications Corp., 6.250% Cv. Pfd., Ser. A†			244,256
				Building and Construction — 0.0%
	200			Fleetwood Capital Trust, 6.000% Cv. Pfd.†			100
				Energy and Utilities — 0.3%
	129,000			El Paso Energy Capital Trust I, 4.750% Cv. Pfd.			4,934,250
				Financial Services — 0.2%
	1,500			Doral Financial Corp., 4.750% Cv. Pfd.†			186,000
	75,000			Newell Financial Trust I, 5.250% Cv. Pfd.			2,985,938
							3,171,938
				Telecommunications — 0.4%
	55,000			Cincinnati Bell Inc., 6.750% Cv. Pfd., Ser. B			2,145,000
	95,000			Crown Castle International Corp., 6.250% Cv. Pfd.			5,866,250
							8,011,250
				Transportation — 0.0%
	1,500			GATX Corp., $2.50 Cv. Pfd., Ser. A (d)			219,750
				TOTAL CONVERTIBLE PREFERRED STOCKS			21,851,644
				RIGHTS — 0.0%
				Financial Services — 0.0%
	90,000			Deutsche Bank AG, expire 10/05/10†			447,300
				Health Care — 0.0%
	6,000			Fresenius Kabi Pharmaceuticals Holding Inc., CVR, expire 12/31/10†			210
				TOTAL RIGHTS			447,510
				WARRANTS — 0.0%
				Food and Beverage — 0.0%
	650			Parmalat SpA, GDR, expire 12/31/15† (b)(c)(d)			438

See accompanying notes to schedule of investments.

THE GABELLI DIVIDEND & INCOME TRUST
SCHEDULE OF INVESTMENTS (Continued)
September 30, 2010 (Unaudited)

Principal						Market
Amount						Value
				CONVERTIBLE CORPORATE BONDS — 1.6%
				Aerospace — 0.1%
$	1,500,000			GenCorp Inc., Sub. Deb. Cv., 4.063%, 12/31/39 (b)		$	1,359,375
				Automotive: Parts and Accessories — 0.0%
	500,000			Standard Motor Products Inc., Sub. Deb. Cv., 15.000%, 04/15/11 (d)			500,500
				Broadcasting — 0.6%
	10,000,000			Sinclair Broadcast Group Inc., Sub. Deb. Cv., 6.000%, 09/15/12			9,875,000
				Computer Hardware — 0.2%
	3,000,000			SanDisk Corp., Cv., 1.000%, 05/15/13			2,767,500
				Diversified Industrial — 0.5%
	8,800,000			Griffon Corp., Sub. Deb. Cv., 4.000%, 01/15/17 (b)			9,372,000
				Financial Services — 0.0%
	200,000			Janus Capital Group Inc., Cv., 3.250%, 07/15/14			229,000
				Real Estate — 0.0%
	450,000			Palm Harbor Homes Inc., Cv., 3.250%, 05/15/24			299,250
				Retail — 0.2%
	5,300,000			The Great Atlantic & Pacific Tea Co. Inc., Cv., 5.125%, 06/15/11			3,862,375
				TOTAL CONVERTIBLE CORPORATE BONDS			28,265,000
				U.S. GOVERNMENT OBLIGATIONS — 6.3%
	112,992,000			U.S. Treasury Bills, 0.060% to 0.230%††, 10/21/10 to 03/17/11			112,962,517
TOTAL INVESTMENTS — 100.0% (Cost $1,640,311,698)						$	1,784,716,341
				Aggregate tax cost		$	1,651,478,431
				Gross unrealized appreciation		$	263,360,270
				Gross unrealized depreciation			(130,122,360	)
				Net unrealized appreciation/depreciation		$	133,237,910

09/30/10

Acquisition

Acquisition

Acquisition

Carrying Value

Shares

Issuer

Date

Cost

Per Unit

339,450

Parmalat SpA, GDR

12/02/03

$

981,615

$

2.5693

650

Parmalat SpA, GDR, Warrants expire 12/31/15

11/09/05

—

0.6738

		% of
		Market				Market
Geographic Diversification		Value				Value
North America			80.6	%		$	1,438,113,907
Europe			15.2				272,152,412
Japan			3.4				60,976,467
Asia/Pacific			0.4				7,117,745
Latin America			0.4				6,355,810
Total Investments			100.0	%		$	1,784,716,341

See accompanying notes to schedule of investments.

THE GABELLI DIVIDEND & INCOME TRUST (the “Fund”)
NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)

     The Fund’s financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), 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.

Security Valuation. 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’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 “Board”) 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 “Adviser”).

     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’ 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.

     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.

     The inputs and valuation techniques used to measure fair value of the Fund’s investments are summarized into three levels as described in the hierarchy below:

	•		Level 1 – quoted prices in active markets for identical securities;
	•		Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.); and
	•		Level 3 – significant unobservable inputs (including the Fund’s determinations as to the fair value of investments).

THE GABELLI DIVIDEND & INCOME TRUST
NOTES TO SCHEDULE OF INVESTMENTS (Continued) (Unaudited)

     A financial instrument’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’s investments in securities by inputs used to value the Fund’s investments as of September 30, 2010 is as follows:

		Valuation Inputs
		Level 1				Level 2				Total
		Quoted				Other Significant				Market Value
		Prices				Observable Inputs				at 9/30/10
INVESTMENTS IN SECURITIES:
ASSETS (Market Value):
Common Stocks:
Telecommunications		$	115,644,326			$	1,131,451			$	116,775,777
Other Industries (a)			1,504,413,455				—				1,504,413,455
Total Common Stocks			1,620,057,781				1,131,451				1,621,189,232
Convertible Preferred Stocks:
Transportation			—				219,750				219,750
Other Industries (a)			21,631,894				—				21,631,894
Total Convertible Preferred Stocks			21,631,894				219,750				21,851,644
Rights (a)			447,510				—				447,510
Warrants (a)			—				438				438
Convertible Corporate Bonds			—				28,265,000				28,265,000
U.S. Government Obligations			—				112,962,517				112,962,517
TOTAL INVESTMENTS IN SECURITIES – ASSETS		$	1,642,137,185			$	142,579,156			$	1,784,716,341

     The Fund did not have significant transfers between Level 1 and Level 2 during the period ended September 30, 2010.

There were no Level 3 investments held at September 30, 2010 or December 31, 2009.

     In January 2010, the Financial Accounting Standards Board (“FASB”) 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 15, 2009 and interim periods within those fiscal years. Management has adopted the amended guidance and determined that there was no material impact to the Fund’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 15, 2010 and for interim periods within those fiscal years. Management is currently evaluating the impact of the additional disclosure requirements on the Fund’s financial statements.

Foreign Currency Translations. 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

THE GABELLI DIVIDEND & INCOME TRUST
NOTES TO SCHEDULE OF INVESTMENTS (Continued) (Unaudited)

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.

Foreign Securities. 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.

Foreign Taxes. 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.

Restricted and Illiquid Securities. The Fund is not subject to an independent limitation on the amount it may invest in securities for which the markets are illiquid. Illiquid securities include securities the disposition of which is subject to substantial legal or contractual restrictions. The sale of illiquid securities often requires more time and results in higher brokerage charges or dealer discounts and other selling expenses than does the sale of securities eligible for trading on national securities exchanges or in the over-the-counter markets. Restricted securities may sell at a price lower than similar securities that are not subject to restrictions on resale. Securities freely saleable among qualified institutional investors under special rules adopted by the SEC may be treated as liquid if they satisfy liquidity standards established by the Board. The continued liquidity of such securities is not as well assured as that of publicly traded securities, and accordingly the Board will monitor their liquidity. For the restricted and illiquid securities the Fund held as of September 30, 2010, refer to the Schedule of Investments.

Derivative Financial Instruments. The Fund may engage in various portfolio investment strategies by investing in a number of derivative financial instruments for the purpose of achieving additional return or hedging the value of the Fund’s portfolio, increasing the income of the Fund, hedging or protecting its exposure to interest rate movements and movements in the securities markets, managing risks, or protecting the value of its portfolio against uncertainty in the level of future currency exchange rates. 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’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’s ability to pay distributions.

     The Fund’s derivative contracts held at September 30, 2010, if any, are not accounted for as hedging instruments under GAAP.

THE GABELLI DIVIDEND & INCOME TRUST
NOTES TO SCHEDULE OF INVESTMENTS (Continued) (Unaudited)

     Options. The Fund may purchase or write call or put options on securities or indices for the purpose of achieving additional return or for hedging the value of the Fund’s portfolio. As a writer of put options, the Fund receives a premium at the outset and then bears the risk of unfavorable changes in the price of the financial instrument underlying the option. The Fund would incur a loss if the price of the underlying financial instrument decreases between the date the option is written and the date on which the option is terminated. The Fund would realize a gain, to the extent of the premium, if the price of the financial instrument increases between those dates. If a written call option is exercised, the premium is added to the proceeds from the sale of the underlying security in determining whether there has been a realized gain or loss. If a written put option is exercised, the premium reduces the cost basis of the security.

     As a purchaser of put options, the Fund pays a premium for the right to sell to the seller of the put option the underlying security at a specified price. The seller of the put has the obligation to purchase the underlying security upon exercise at the exercise price. If the price of the underlying security declines, the Fund would realize a gain upon sale or exercise. If the price of the underlying security increases or stays the same, the Fund would realize a loss upon sale or at the expiration date, but only to the extent of the premium paid.

     In the case of call options, these exercise prices are referred to as “in-the-money,” “at-the-money,” and “out-of-the-money,” respectively. The Fund may write (a) in-the-money call options when the Adviser expects that the price of the underlying security will remain stable or decline during the option period, (b) at-the-money call options when the Adviser expects that the price of the underlying security will remain stable, decline, or advance moderately during the option period, and (c) out-of-the-money call options when the Adviser expects that the premiums received from writing the call option will be greater than the appreciation in the price of the underlying security above the exercise price. By writing a call option, the Fund limits its opportunity to profit from any increase in the market value of the underlying security above the exercise price of the option. Out-of-the-money, at-the-money, and in-the-money put options (the reverse of call options as to the relation of exercise price to market price) may be utilized in the same market environments that such call options are used in equivalent transactions. During the period ended September 30, 2010, the Fund had no investments in options.

     Swap Agreements. The Fund may enter into equity, contract for difference, and interest rate swap or cap transactions for the purpose of increasing the income of the Fund or hedging or protecting its exposure to interest rate movements and movements in the securities markets. 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 an interest rate swap, the Fund would agree to pay periodically to the other party (which is known as the “counterparty”) a fixed rate payment in exchange for the counterparty agreeing to pay to the Fund periodically a variable rate payment that is intended to approximate the Fund’s variable rate payment obligation on Series B Auction Market Cumulative Preferred Shares (“Series B Shares”). In an interest rate cap, the Fund would pay a premium to the counterparty and, to the extent that a specified variable rate index exceeds a predetermined fixed rate, would receive from that counterparty payments of the difference based on the notional amount of such cap. Swap and cap transactions introduce additional risk because the Fund would remain obligated to pay preferred share dividends when due in accordance with the Statement of Preferences even if the counterparty defaulted. In a swap, a set of future cash flows 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’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.

THE GABELLI DIVIDEND & INCOME TRUST
NOTES TO SCHEDULE OF INVESTMENTS (Continued) (Unaudited)

     The Fund held an interest rate swap agreement through June 2, 2010, with an average monthly notional amount while it was outstanding of approximately $100,000,000. At September 30, 2010, there were no open interest rate swap agreements.

     The Fund held an equity contract for difference swap agreement through January 29, 2010, with an average monthly notional amount while it was outstanding of approximately $2,638,658. At September 30, 2010, there were no open equity contracts for difference swap agreements.

     Futures Contracts. The Fund may engage in futures contracts for the purpose of certain hedging, yield enhancements, and risk management purposes. 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 “initial margin.” Subsequent payments (“variation margin”) 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.

     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 30, 2010, the Fund had no investments in futures contracts.

     Forward Foreign Exchange Contracts. The Fund may engage in forward foreign exchange contracts for the purpose of protecting the value of its portfolio against uncertainty in the level of future currency exchange rates or 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.

     The use of forward foreign exchange contracts does not eliminate fluctuations in the underlying prices of the Fund’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 30, 2010, the Fund had no investments in forward foreign exchange contracts.

Tax Information. The Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986, as amended.

     At December 31, 2009, the Fund had net capital loss carryforwards for federal income tax purposes of $129,734,874, which are available to reduce future required distributions of net capital gains to shareholders. $22,445,283 of the loss carryforward is available through 2016; and $107,289,591 is available through 2017.

     Under the current tax law, capital losses related to securities and foreign currency realized after October 31 and prior to the Fund’s fiscal year end may be treated as occurring on the first day of the following year. For the year ended December 31, 2009, the Fund had deferred capital losses of $20,845,593.

AUTOMATIC DIVIDEND REINVESTMENT
AND VOLUNTARY CASH PURCHASE PLANS

Enrollment in the Plan

     It is the policy of The Gabelli Dividend & Income Trust (the “Fund”) to automatically reinvest dividends payable to common shareholders. As a “registered” shareholder you automatically become a participant in the Fund’s Automatic Dividend Reinvestment Plan (the “Plan”). 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 common shares certificates to Computershare Trust Company, N.A. (“Computershare”) to be held in their dividend reinvestment account. Registered shareholders wishing to receive their distributions in cash must submit this request in writing to:

The Gabelli Dividend & Income Trust
c/o Computershare
P.O. Box 43010
Providence, RI 02940–3010

     Shareholders requesting this cash election must include the shareholder’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) 336-6983.

     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 “street name” 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 “street name” at participating institutions will have dividends automatically reinvested. Shareholders wishing a cash dividend at such institution must contact their broker to make this change.

     The number of shares 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’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 shares of common shares valued at the greater of (i) the net asset value as most recently determined or (ii) 95% of the then current market price of the Fund’s common shares. The valuation date is the dividend or distribution payment date or, if that date is not a New York Stock Exchange (“NYSE”) 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 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 shares of common shares in the open market, or on the NYSE or elsewhere, for the participants’ 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.

     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.

Voluntary Cash Purchase Plan

     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.

     Participants in the Voluntary Cash Purchase Plan have the option of making additional cash payments to Computershare for investments in the Fund’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 02940–3010 such that Computershare receives such payments approximately 10 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.

     Shareholders wishing to liquidate shares held at Computershare 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.

     For more information regarding the Automatic Dividend Reinvestment Plan and Voluntary Cash Purchase Plan, brochures are available by calling (914) 921-5070 or by writing directly to the Fund.

     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 days before the record date for such dividend or distribution. The Plan also may be amended or terminated by Computershare on at least 90 days written notice to participants in the Plan.

TRUSTEES AND OFFICERS
THE GABELLI DIVIDEND & INCOME TRUST
One Corporate Center, Rye, NY 10580-1422

Trustees

Mario J. Gabelli, CFA

Chairman & Chief Executive Officer,

GAMCO Investors, Inc.

Anthony J. Colavita

President,

Anthony J. Colavita, P.C.

James P. Conn

Former Managing Director &

Chief Investment Officer,

Financial Security Assurance Holdings Ltd.

Mario d’Urso

Former Italian Senator

Frank J. Fahrenkopf, Jr.

President & Chief Executive Officer,

American Gaming Association

Michael J. Melarkey

Attorney-at-Law,

Avansino, Melarkey, Knobel & Mulligan

Salvatore M. Salibello

Certified Public Accountant,

Salibello & Broder, LLP

Edward T. Tokar

Senior Managing Director,

Beacon Trust Company

Anthonie C. van Ekris

Chairman, BALMAC International, Inc.

Salvatore J. Zizza

Chairman, Zizza & Co., Ltd.