GABELLI EQUITY TR INC
			Symbol			GAB

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Gabelli Equity Trust Reaffirms Its 10% Distribution Policy and Declares Fourth Quarter Distribution of $0.16 Per Share

2009-11-19 10:27 ET - News Release

RYE, N.Y. -- (Business Wire)

The Board of Directors of The Gabelli Equity Trust Inc. (NYSE:GAB) (the “Fund”) reaffirmed its 10% distribution policy and declared a $0.16 per share cash distribution payable on December 17, 2009 to common stock shareholders of record on December 14, 2009. The total distributions for 2009 from the Fund equate to $0.72 per share.

The Fund intends to pay a quarterly distribution of an amount determined each quarter by the Board of Directors. Under the Fund’s current distribution policy, the Fund intends to pay a minimum annual distribution of 10% of the average net asset value of the Fund within a calendar year or an amount sufficient to satisfy the minimum distribution requirements of the Internal Revenue Code, whichever is greater. The average net asset value of the Fund is based on the average net asset values as of the last day of the four preceding calendar quarters. We note that 10% of the average net asset value of the Fund would be $0.40, or approximately $0.10 per share each quarter of 2009, based on the ending net asset values per share as of December 31, 2008, March 31, 2009, June 30, 2009, and September 30, 2009 of $4.14, $3.23, $3.99, and $4.83, respectively. In declaring a distribution of $0.16 per share, the Board of Directors has chosen to distribute an amount greater than that called for by the distribution policy. The net asset value per share fluctuates daily.

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