<DOCUMENT>
<TYPE>EX-99.1.F
<SEQUENCE>2
<FILENAME>y10046exv99w1wf.txt
<DESCRIPTION>ARTICLES OF AMENDMENT TO ARTICLES OF INCORPORATION
<TEXT>
<PAGE>

                                                                    Exhibit 1(f)

                             ARTICLES OF AMENDMENT
                        TO THE ARTICLES OF INCORPORATION


       The Gabelli Equity Trust Inc., a Maryland corporation, having its
principal office in Baltimore City, Maryland (hereinafter called the
"Corporation"), hereby certifies to the State Department of Assessments and
Taxation of the State of Maryland that:

       FIRST:   The Articles of Incorporation of the Corporation, as amended
from time to time, are hereby amended by adding the following paragraph to
Article FIFTH, to read as follows:

                (7)  The Board of Directors, with the approval of a majority of
       the entire Board of Directors, and without any action by the shareholders
       of the Corporation, may amend these Articles from time to time to
       increase or decrease the aggregate number of shares of stock of the
       Corporation or the number of shares of stock of any class or series that
       the Corporation has authority to issue.

       SECOND:  The foregoing amendment to the Corporation's Articles of
Incorporation was duly advised by the Corporation's Board of Directors and
approved by stockholders.

       IN WITNESS WHEREOF, The Gabelli Equity Trust Inc. has caused these
presents to be signed in its name and on its behalf by a duly authorized
officer, and witnessed by its Secretary, and the said officers of the
Corporation further acknowledge said instrument to be the corporate act of the
Corporation, and state that to the best of their knowledge, information and
belief under penalty of perjury, the matters and facts set forth herein with
respect to approval are true in all material respects, all on May 12, 2004.


                                         THE GABELLI EQUITY TRUST INC.


                                         By /s/ Bruce  N. Alpert
                                            -------------------------
                                            Name:  Bruce N. Alpert
                                            Title: President


Witness:

  /s/ James E. McKee
---------------------------
Name:    James E. McKee
Title:  Secretary



</TEXT>
</DOCUMENT>
