<SEC-DOCUMENT>0001140361-20-007059.txt : 20200326
<SEC-HEADER>0001140361-20-007059.hdr.sgml : 20200326
<ACCEPTANCE-DATETIME>20200326171139
ACCESSION NUMBER:		0001140361-20-007059
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20200326
DATE AS OF CHANGE:		20200326
EFFECTIVENESS DATE:		20200326

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GABELLI EQUITY TRUST INC
		CENTRAL INDEX KEY:			0000794685
		IRS NUMBER:				222736509
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-04700
		FILM NUMBER:		20746914

	BUSINESS ADDRESS:	
		STREET 1:		ONE CORP CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		9149215070
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>formdefa14a.htm
<DESCRIPTION>DEFA 14A
<TEXT>
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    <div style="text-align: center; color: rgb(35, 31, 32); font-size: 18pt; font-weight: bold;">SCHEDULE 14A INFORMATION</div>
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    <div style="text-align: center; color: #231F20;">Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934</div>
    <div style="text-align: center;"><font style="color: #231F20;">(Amendment No.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="color: #231F20;">)</font></div>
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    <div style="text-indent: -5.9pt; margin-left: 5.9pt; color: #231F20;">Filed by Registrant &#9746;</div>
    <div style="text-indent: -5.9pt; margin-left: 5.9pt; color: #231F20;">Filed by a Party other than the Registrant &#9744;</div>
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    <div style="text-indent: -5.9pt; margin-left: 5.9pt; color: #231F20;">Check the appropriate box:</div>
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                <div style="color: #231F20;">Preliminary Proxy Statement</div>
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                <div style="color: #231F20;">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</div>
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                <div style="color: #231F20;">Definitive Proxy Statement</div>
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              <td style="width: 18pt; vertical-align: top; align: right; color: #231F20;">&#9746;</td>
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                <div style="color: #231F20;">Definitive Additional Materials</div>
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                <div style="color: #231F20;">Soliciting Material Pursuant to Sec. 240.14a-12</div>
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      <div style="font-weight: bold;">The Gabelli Equity Trust Inc.</div>
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    <div style="text-align: center; color: #231F20;">(Name of Registrant as Specified In Its Charter)</div>
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    <div style="text-align: center; color: #231F20;">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</div>
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    <div style="color: #231F20;">Payment of Filing Fee (Check the appropriate box):</div>
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                <div style="color: #231F20;">No fee required</div>
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                <div style="color: #231F20;">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</div>
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              <td style="width: 18pt; vertical-align: top; align: right; color: #231F20;">1)</td>
              <td style="width: auto; vertical-align: top;">
                <div style="color: #231F20;">Title of each class of securities to which transaction applies:</div>
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              <td style="width: 18pt; vertical-align: top; align: right; color: #231F20;">2)</td>
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                <div style="color: #231F20;">Aggregate number of securities to which transaction applies:</div>
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              <td style="width: 18pt; vertical-align: top; align: right; color: #231F20;">3)</td>
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                <div style="color: #231F20;">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11(set forth the amount on which the filing fee is calculated and state how it was determined):</div>
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              <td style="width: 18pt; vertical-align: top; align: right; color: #231F20;">4)</td>
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                <div style="color: #231F20;">Proposed maximum aggregate value of transaction:</div>
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              <td style="width: 18pt; vertical-align: top; align: right; color: #231F20;">5)</td>
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                <div style="color: #231F20;">Total fee paid:</div>
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    <div>&#160;</div>
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                <div style="color: #231F20;">Fee paid previously with preliminary materials.</div>
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              <td style="width: auto; vertical-align: top;">
                <div style="color: #231F20;">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration
                  statement number, or the Form or Schedule and the date of its filing.</div>
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    <div>&#160;</div>
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              <td style="width: 18pt; vertical-align: top; align: right; color: #231F20;">1)</td>
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                <div style="color: #231F20;">Amount Previously Paid:</div>
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              <td style="width: 18pt; vertical-align: top; align: right; color: #231F20;">2)</td>
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                <div style="color: #231F20;">Form, Schedule or Registration Statement No.:</div>
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              <td style="width: 18pt; vertical-align: top; align: right; color: #231F20;">3)</td>
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                <div style="color: #231F20;">Filing Party:</div>
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              <td style="width: 18pt; vertical-align: top; align: right; color: #231F20;">4)</td>
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                <div style="color: #231F20;">Date Filed:</div>
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        <div style="text-align: center; color: rgb(35, 31, 32); font-size: 18pt; font-weight: bold;">*** Exercise Your <font style="font-style: italic;">Right </font>to Vote ***</div>
        <div style="text-align: center; color: rgb(35, 31, 32); font-size: 14pt; font-weight: bold;">Important Notice Regarding the Availability of Proxy Materials for the </div>
        <div style="text-align: center; color: rgb(35, 31, 32); font-size: 14pt; font-weight: bold;">Stockholder Meeting to Be Held on May 11, 2020.</div>
        <div style="color: rgb(0, 0, 0); font-weight: 400;"> <br>
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              <td style="width: 49%;" rowspan="1">&#160;</td>
              <td style="width: 2%;" rowspan="1">&#160;</td>
              <td style="border-left: 1px solid rgb(0, 0, 0); border-right: 1px solid rgb(0, 0, 0); border-top: 1px solid rgb(0, 0, 0); width: 49%; font-weight: bold; text-align: center;" rowspan="1"><u>Meeting Information</u></td>
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              <td style="width: 49%; text-align: center; vertical-align: top; padding-bottom: 2px; font-weight: bold; font-size: 14pt;" rowspan="1">THE GABELLI EQUITY TRUST INC.</td>
              <td style="width: 2%; padding-bottom: 2px;" rowspan="1">&#160;</td>
              <td style="border-bottom: 1px solid #000000; border-left: 1px solid #000000; border-right: 1px solid #000000; width: 49%;" rowspan="1">
                <div>
                  <div style="text-align: left;"><font style="font-weight: bold;">Meeting Type:</font>&#160;&#160;&#160;&#160;&#160;&#160; &#160; &#160; &#160; &#160; Annual</div>
                  <div style="text-align: left;"><font style="font-weight: bold;">For holders as of:</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;March 17, 2020 </div>
                  <div style="text-align: left;"><font style="font-weight: bold;">Date:</font>&#160;&#160; May 11, 2020&#160;&#160;&#160;&#160;&#160; <font style="font-weight: bold;">Time:</font> 9:40 a.m.</div>
                  <div style="text-align: left;"><font style="font-weight: bold;">Location:</font> Westchester Country Club</div>
                  <div style="text-align: left; color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 99 Biltmore Avenue</div>
                  <div style="text-align: left; color: rgb(0, 0, 0);">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Rye, New York 10580</div>
                  <div style="text-align: left; color: rgb(0, 0, 0);"> <br>
                  </div>
                  <div style="text-align: left; color: rgb(0, 0, 0);">
                    <div>Or at such other location or by such remote means as may be noticed to stockholders</div>
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              <td style="width: 2%;" rowspan="1">&#160;</td>
              <td style="width: 49%;" rowspan="1">&#160;</td>
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              <td style="width: 49%; background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(35, 31, 32); font-size: 8pt; font-style: italic; font-variant: normal; text-transform: none; text-align: left; vertical-align: top;" rowspan="1">
                <div><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(35, 31, 32); font-style: italic; font-variant: normal; text-transform: none;">GABELLI FUNDS</font></div>
                <div><font style="background-color: rgb(255, 255, 255); font-weight: normal; color: rgb(35, 31, 32); font-style: italic; font-variant: normal; text-transform: none;">ONE CORPORATE CENTER </font>
                  <div style="color: rgb(35, 31, 32); font-style: italic;">RYE, NY 10580-1334</div>
                </div>
              </td>
              <td style="width: 2%;" rowspan="1">&#160;</td>
              <td style="width: 49%; text-align: left; vertical-align: top;" rowspan="1">
                <div>You are receiving this communication because you hold shares in the fund named above.</div>
                <div> <br>
                </div>
                <div>This is not a ballot. You cannot use this notice to vote these shares. This communication presents only an overview of the more complete proxy materials that are available to you on the Internet. You may view the proxy materials online
                  at <font style="font-style: italic;">www.proxyvote.com </font>or easily request a paper copy (see reverse side). </div>
                <div> <br>
                </div>
                <div>We encourage you to access and review all of the important information contained in the proxy materials before voting. </div>
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              <td style="background-color: #FFFFFF; vertical-align: top; width: 49%;" colspan="1">&#160;</td>
              <td style="background-color: #FFFFFF; vertical-align: top; width: 2%;" colspan="1">&#160;</td>
              <td style="width: 49%; vertical-align: top; background-color: rgb(35, 31, 32);">
                <div style="margin-left: 2.85pt; color: #FFFFFF; font-weight: bold;">See the reverse side of this notice to obtain proxy materials and voting instructions.</div>
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        </div>
        <div>
          <div>D06419-P35684</div>
        </div>
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        <div style="text-align: center; font-size: 18pt; font-weight: bold;"><img src="image00011.jpg"> Before You Vote <img src="image00011.jpg"></div>
        <div style="text-align: center; font-size: 14pt;">How to Access the Proxy Materials</div>
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                  <div>
                    <div style="text-align: left; color: rgb(35, 31, 32); font-weight: bold;">Proxy Materials Available to VIEW or RECEIVE:</div>
                    <div style="text-align: left; color: rgb(35, 31, 32);">NOTICE AND PROXY STATEMENT</div>
                    <div style="text-align: left; color: rgb(35, 31, 32);">
                      <div style="color: #000000; font-weight: bold;">How to View Online:</div>
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      <div style="text-align: center; color: rgb(35, 31, 32); font-size: 18pt; font-weight: bold;">
        <div><img src="image00011.jpg"> How To Vote <img src="image00011.jpg"></div>
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          <tr>
            <td style="width: 1%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td style="width: 98%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; color: rgb(35, 31, 32);"><font style="font-weight: bold;">Vote In Person: </font>Many stockholder meetings have attendance requirements including, but not limited to, the possession of an attendance ticket
                issued by the entity holding the meeting. Please check the meeting materials for any special requirements for meeting attendance. At the meeting, you will need to request a ballot to vote these shares.</div>
              <div style="text-align: justify; color: rgb(35, 31, 32);"><font style="font-weight: bold;">Vote By Internet: </font>To vote now by Internet, go to <font style="font-style: italic;">www.proxyvote.com.</font><font style="font-style: italic;">&#160;</font>Have










                the information that is printed in the box marked by the arrow <img src="image_arrow.jpg"><font style="font-size: 8pt;"> </font>(located on the following page) available and follow the instructions.</div>
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            <td style="width: 1%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          </tr>

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      <div style="color: rgb(0, 0, 0);"><br>
      </div>
      <div style="color: rgb(0, 0, 0);">
        <div>D06420-P35684</div>
        <div>&#160;</div>
      </div>
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        <div id="DSPFPageFooter"></div>
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      <div style="font-size: 8pt; font-weight: bold;">THE GABELLI EQUITY TRUST INC.</div>
      <div style="font-size: 8pt; font-weight: bold;">COMMON STOCKHOLDER</div>
      <div style="font-size: 8pt; font-weight: bold;"> <br>
      </div>
      <div>
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"> </div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 4%; text-align: left; vertical-align: top;"><img src="image_a.jpg"></td>
              <td style="width: 96%; font-weight: bold;">
                <div>Election of Directors &#8212; The Board of Directors </div>
                <div>recommends a vote <u>FOR</u> each of the nominees </div>
                <div>listed.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 4%;"><br>
              </td>
              <td style="width: 96%;">
                <div>&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 4%;">1.</td>
              <td style="width: 96%;">
                <div>To elect two (2) Directors of the Fund:</div>
              </td>
            </tr>
            <tr>
              <td style="width: 4%;"><br>
              </td>
              <td style="width: 96%;">
                <div>&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 4%;"><br>
              </td>
              <td style="width: 96%;">
                <div style="font-weight: bold;">Nominees:</div>
              </td>
            </tr>
            <tr>
              <td style="width: 4%;" rowspan="1">&#160;</td>
              <td style="width: 96%;" rowspan="1"><br>
              </td>
            </tr>
            <tr>
              <td style="width: 4%;" rowspan="1">&#160;</td>
              <td style="width: 96%;" rowspan="1">
                <div style="text-align: left;">01)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Frank J. Fahrenkopf, Jr.</div>
                <div style="text-align: left;">02)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Salvatore J. Zizza</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div><br>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <br>
      </div>
      <table cellspacing="0" cellpadding="2" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 50%; vertical-align: top; border-color: rgb(0, 0, 0); border-style: solid; border-width: 2px;">
              <div style="color: rgb(35, 31, 32); font-weight: bold; margin-left: 18pt;">Please refer to the proxy materials for more detailed information on the above voting item.</div>
            </td>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <div>
        <div>D06421-P35684</div>
        <div>&#160;</div>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageFooter"></div>
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      </div>
      <div style="font-size: 8pt; font-weight: bold;">THE GABELLI EQUITY TRUST INC.</div>
      <div style="font-size: 8pt; font-weight: bold;">SERIES C PREFERRED STOCKHOLDER</div>
      <div style="font-size: 8pt; font-weight: bold;"> <br>
      </div>
      <div>
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 4%; text-align: left; vertical-align: top;"><img src="image_a.jpg"></td>
              <td style="width: 96%; font-weight: bold;">
                <div>Election of Directors &#8212; The Board of Directors </div>
                <div>recommends a vote <u>FOR</u> each of the nominees </div>
                <div>listed.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 4%;"><br>
              </td>
              <td style="width: 96%;">
                <div>&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 4%;">1.</td>
              <td style="width: 96%;">
                <div>To elect two (3) Directors of the Fund:</div>
              </td>
            </tr>
            <tr>
              <td style="width: 4%;"><br>
              </td>
              <td style="width: 96%;">
                <div>&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 4%;"><br>
              </td>
              <td style="width: 96%;">
                <div style="font-weight: bold;">Nominees:</div>
              </td>
            </tr>
            <tr>
              <td style="width: 4%;" rowspan="1">&#160;</td>
              <td style="width: 96%;" rowspan="1"><br>
              </td>
            </tr>
            <tr>
              <td style="width: 4%;" rowspan="1">&#160;</td>
              <td style="width: 96%;" rowspan="1">
                <div style="text-align: left;">01)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Frank J. Fahrenkopf, Jr.</div>
                <div style="text-align: left;">02)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Salvatore J. Zizza
                  <div>03)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Kuni Nakamura</div>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div><br>
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      <div><br>
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      <table cellspacing="0" cellpadding="2" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

          <tr>
            <td style="width: 50%; vertical-align: top; border-color: rgb(0, 0, 0); border-style: solid; border-width: 2px;">
              <div style="color: rgb(35, 31, 32); font-weight: bold; margin-left: 18pt;">Please refer to the proxy materials for more detailed information on the above voting item.</div>
            </td>
            <td style="width: 50%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
          </tr>

      </table>
      <div>
        <div><br>
        </div>
        <div>
          <div>D06421-P35684</div>
          <div>&#160;</div>
        </div>
        <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
          <div id="DSPFPageFooter"></div>
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        </div>
        <div style="font-size: 8pt; font-weight: bold;">THE GABELLI EQUITY TRUST INC.</div>
        <div style="font-size: 8pt; font-weight: bold;">SERIES E PREFERRED STOCKHOLDER</div>
        <div style="font-size: 8pt; font-weight: bold;"> <br>
        </div>
        <div>
          <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
        <div><br>
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        <div>
          <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

              <tr>
                <td style="width: 4%; text-align: left; vertical-align: top;"><img src="image_a.jpg"></td>
                <td style="width: 96%; font-weight: bold;">
                  <div>Election of Directors &#8212; The Board of Directors </div>
                  <div>recommends a vote <u>FOR</u> each of the nominees </div>
                  <div>listed.</div>
                </td>
              </tr>
              <tr>
                <td style="width: 4%;"><br>
                </td>
                <td style="width: 96%;">
                  <div>&#160;</div>
                </td>
              </tr>
              <tr>
                <td style="width: 4%;">1.</td>
                <td style="width: 96%;">
                  <div>To elect two (3) Directors of the Fund:</div>
                </td>
              </tr>
              <tr>
                <td style="width: 4%;"><br>
                </td>
                <td style="width: 96%;">
                  <div>&#160;</div>
                </td>
              </tr>
              <tr>
                <td style="width: 4%;"><br>
                </td>
                <td style="width: 96%;">
                  <div style="font-weight: bold;">Nominees:</div>
                </td>
              </tr>
              <tr>
                <td style="width: 4%;" rowspan="1">&#160;</td>
                <td style="width: 96%;" rowspan="1"><br>
                </td>
              </tr>
              <tr>
                <td style="width: 4%;" rowspan="1">&#160;</td>
                <td style="width: 96%;" rowspan="1">
                  <div style="text-align: left;">01)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Frank J. Fahrenkopf, Jr.</div>
                  <div style="text-align: left;">02)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Salvatore J. Zizza
                    <div>03)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Kuni Nakamura</div>
                  </div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
        </div>
        <div><br>
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        <table cellspacing="0" cellpadding="2" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

            <tr>
              <td style="width: 50%; vertical-align: top; border-color: rgb(0, 0, 0); border-style: solid; border-width: 2px;">
                <div style="color: rgb(35, 31, 32); font-weight: bold; margin-left: 18pt;">Please refer to the proxy materials for more detailed information on the above voting item.</div>
              </td>
              <td style="width: 50%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
            </tr>

        </table>
        <div>
          <div><br>
          </div>
          <div>
            <div>D06421-P35684</div>
            <div>&#160;</div>
          </div>
          <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
            <div id="DSPFPageFooter"></div>
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          <div style="font-size: 8pt; font-weight: bold;">THE GABELLI EQUITY TRUST INC.</div>
          <div style="font-size: 8pt; font-weight: bold;">SERIES G PREFERRED STOCKHOLDER</div>
          <div style="font-size: 8pt; font-weight: bold;"> <br>
          </div>
          <div>
            <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
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            <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

                <tr>
                  <td style="width: 4%; text-align: left; vertical-align: top;"><img src="image_a.jpg"></td>
                  <td style="width: 96%; font-weight: bold;">
                    <div>Election of Directors &#8212; The Board of Directors </div>
                    <div>recommends a vote <u>FOR</u> each of the nominees </div>
                    <div>listed.</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 4%;"><br>
                  </td>
                  <td style="width: 96%;">
                    <div>&#160;</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 4%;">1.</td>
                  <td style="width: 96%;">
                    <div>To elect two (3) Directors of the Fund:</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 4%;"><br>
                  </td>
                  <td style="width: 96%;">
                    <div>&#160;</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 4%;"><br>
                  </td>
                  <td style="width: 96%;">
                    <div style="font-weight: bold;">Nominees:</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 4%;" rowspan="1">&#160;</td>
                  <td style="width: 96%;" rowspan="1"><br>
                  </td>
                </tr>
                <tr>
                  <td style="width: 4%;" rowspan="1">&#160;</td>
                  <td style="width: 96%;" rowspan="1">
                    <div style="text-align: left;">01)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Frank J. Fahrenkopf, Jr.</div>
                    <div style="text-align: left;">02)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Salvatore J. Zizza
                      <div>03)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Kuni Nakamura</div>
                    </div>
                  </td>
                </tr>

            </table>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div><br>
          </div>
          <div><br>
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          <div><br>
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          <div><br>
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          <table cellspacing="0" cellpadding="2" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);">

              <tr>
                <td style="width: 50%; vertical-align: top; border-color: rgb(0, 0, 0); border-style: solid; border-width: 2px;">
                  <div style="color: rgb(35, 31, 32); font-weight: bold; margin-left: 18pt;">Please refer to the proxy materials for more detailed information on the above voting item.</div>
                </td>
                <td style="width: 50%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
              </tr>

          </table>
          <div>
            <div><br>
            </div>
            <div>
              <div>D06421-P35684</div>
              <div>&#160;</div>
            </div>
            <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
              <div id="DSPFPageFooter"></div>
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            <div style="font-size: 8pt; font-weight: bold;">THE GABELLI EQUITY TRUST INC.</div>
            <div style="font-size: 8pt; font-weight: bold;">SERIES H PREFERRED STOCKHOLDER</div>
            <div style="font-size: 8pt; font-weight: bold;"> <br>
            </div>
            <div>
              <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
            <div><br>
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            <div>
              <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;">

                  <tr>
                    <td style="width: 4%; text-align: left; vertical-align: top;"><img src="image_a.jpg"></td>
                    <td style="width: 96%; font-weight: bold;">
                      <div>Election of Directors &#8212; The Board of Directors </div>
                      <div>recommends a vote <u>FOR</u> each of the nominees </div>
                      <div>listed.</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 4%;"><br>
                    </td>
                    <td style="width: 96%;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 4%;">1.</td>
                    <td style="width: 96%;">
                      <div>To elect two (3) Directors of the Fund:</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 4%;"><br>
                    </td>
                    <td style="width: 96%;">
                      <div>&#160;</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 4%;"><br>
                    </td>
                    <td style="width: 96%;">
                      <div style="font-weight: bold;">Nominees:</div>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 4%;" rowspan="1">&#160;</td>
                    <td style="width: 96%;" rowspan="1"><br>
                    </td>
                  </tr>
                  <tr>
                    <td style="width: 4%;" rowspan="1">&#160;</td>
                    <td style="width: 96%;" rowspan="1">
                      <div style="text-align: left;">01)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Frank J. Fahrenkopf, Jr.</div>
                      <div style="text-align: left;">02)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Salvatore J. Zizza
                        <div>03)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Kuni Nakamura</div>
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                  </tr>

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                    <div style="color: rgb(35, 31, 32); font-weight: bold; margin-left: 18pt;">Please refer to the proxy materials for more detailed information on the above voting item.</div>
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            </table>
            <div>
              <div><br>
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              <div>
                <div>D06421-P35684</div>
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              <div style="font-size: 8pt; font-weight: bold;">THE GABELLI EQUITY TRUST INC.</div>
              <div style="font-size: 8pt; font-weight: bold;">SERIES J PREFERRED STOCKHOLDER</div>
              <div style="font-size: 8pt; font-weight: bold;"> <br>
              </div>
              <div>
                <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
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              </div>
              <div>
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                    <tr>
                      <td style="width: 4%; text-align: left; vertical-align: top;"><img src="image_a.jpg"></td>
                      <td style="width: 96%; font-weight: bold;">
                        <div>Election of Directors &#8212; The Board of Directors </div>
                        <div>recommends a vote <u>FOR</u> each of the nominees </div>
                        <div>listed.</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="width: 4%;"><br>
                      </td>
                      <td style="width: 96%;">
                        <div>&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="width: 4%;">1.</td>
                      <td style="width: 96%;">
                        <div>To elect two (3) Directors of the Fund:</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="width: 4%;"><br>
                      </td>
                      <td style="width: 96%;">
                        <div>&#160;</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="width: 4%;"><br>
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                      <td style="width: 96%;">
                        <div style="font-weight: bold;">Nominees:</div>
                      </td>
                    </tr>
                    <tr>
                      <td style="width: 4%;" rowspan="1">&#160;</td>
                      <td style="width: 96%;" rowspan="1"><br>
                      </td>
                    </tr>
                    <tr>
                      <td style="width: 4%;" rowspan="1">&#160;</td>
                      <td style="width: 96%;" rowspan="1">
                        <div style="text-align: left;">01)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Frank J. Fahrenkopf, Jr.</div>
                        <div style="text-align: left;">02)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Salvatore J. Zizza
                          <div>03)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Kuni Nakamura</div>
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                      </td>
                    </tr>

                </table>
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              <div><br>
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              <div><br>
              </div>
              <div><br>
              </div>
              <div><br>
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              <div><br>
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                      <div style="color: rgb(35, 31, 32); font-weight: bold; margin-left: 18pt;">Please refer to the proxy materials for more detailed information on the above voting item.</div>
                    </td>
                    <td style="width: 50%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                  </tr>

              </table>
              <div>
                <div><br>
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                <div>
                  <div>D06421-P35684</div>
                  <div>&#160;</div>
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                <div style="font-size: 8pt; font-weight: bold;">THE GABELLI EQUITY TRUST INC.</div>
                <div style="font-size: 8pt; font-weight: bold;">SERIES K PREFERRED STOCKHOLDER</div>
                <div style="font-size: 8pt; font-weight: bold;"> <br>
                </div>
                <div>
                  <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
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                      <tr>
                        <td style="width: 4%; text-align: left; vertical-align: top;"><img src="image_a.jpg"></td>
                        <td style="width: 96%; font-weight: bold;">
                          <div>Election of Directors &#8212; The Board of Directors </div>
                          <div>recommends a vote <u>FOR</u> each of the nominees </div>
                          <div>listed.</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 4%;"><br>
                        </td>
                        <td style="width: 96%;">
                          <div>&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 4%;">1.</td>
                        <td style="width: 96%;">
                          <div>To elect two (3) Directors of the Fund:</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 4%;"><br>
                        </td>
                        <td style="width: 96%;">
                          <div>&#160;</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 4%;"><br>
                        </td>
                        <td style="width: 96%;">
                          <div style="font-weight: bold;">Nominees:</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 4%;" rowspan="1">&#160;</td>
                        <td style="width: 96%;" rowspan="1"><br>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 4%;" rowspan="1">&#160;</td>
                        <td style="width: 96%;" rowspan="1">
                          <div style="text-align: left;">01)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Frank J. Fahrenkopf, Jr.</div>
                          <div style="text-align: left;">02)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Salvatore J. Zizza
                            <div>03)&#160;&#160;&#160;&#160;&#160;&#160;&#160; Kuni Nakamura</div>
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                        </td>
                      </tr>

                  </table>
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                <div><br>
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                <div><br>
                </div>
                <div><br>
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                <div><br>
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                <div><br>
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                        <div style="color: rgb(35, 31, 32); font-weight: bold; margin-left: 18pt;">Please refer to the proxy materials for more detailed information on the above voting item.</div>
                      </td>
                      <td style="width: 50%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
                    </tr>

                </table>
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                  <div>D06421-P35684</div>
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          <div>D06422-P35684</div>
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      <div><br>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
