<SEC-DOCUMENT>0001387131-21-005866.txt : 20210520
<SEC-HEADER>0001387131-21-005866.hdr.sgml : 20210520
<ACCEPTANCE-DATETIME>20210520121141
ACCESSION NUMBER:		0001387131-21-005866
CONFORMED SUBMISSION TYPE:	497AD
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20210520
DATE AS OF CHANGE:		20210520

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:		497AD
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-251763
		FILM NUMBER:		21943494

	BUSINESS ADDRESS:	
		STREET 1:		ONE CORP CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		9149215070
</SEC-HEADER>
<DOCUMENT>
<TYPE>497AD
<SEQUENCE>1
<FILENAME>gab-497ad_052021.htm
<DESCRIPTION>ADVERTISEMENT
<TEXT>
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  <TD STYLE="white-space: nowrap; text-align: left; width: 18%">THE
GABELLI EQUITY TRUST INC.</TD>
  <TD STYLE="width: 5%">&nbsp;</TD></TR>
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    <TD STYLE="width: 80%"><IMG SRC="gabelli_logo.jpg" ALT="">&nbsp;</TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; white-space: nowrap; text-align: right; width: 15%; vertical-align: top"><P STYLE="text-indent: 0; font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; letter-spacing: 0.2pt">One
Corporate Center<BR>
Rye, NY 10580-1422</FONT></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; text-indent: 0; margin: 0; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; letter-spacing: 0.2pt">t&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;914.921.5070</FONT></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; text-indent: 0; margin: 0; text-align: left"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; letter-spacing: 0.5pt">GABELLI.COM</FONT></P></TD>
    <TD STYLE="width: 5%">&nbsp;</TD></TR></TABLE>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 4.5in; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

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  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 78%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="white-space: nowrap; font: 10pt Arial, Helvetica, Sans-Serif; width: 15%"><P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>For
                         information:</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Molly
Marion</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(914)
921-5681</FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 5in; text-align: justify"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>PRESS
RELEASE</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">FOR
IMMEDIATE RELEASE</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Rye,
New York&#9;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">May
19, 2021&#9;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-transform: uppercase"><B>Gabelli
EQUITY TRUST</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-transform: uppercase"><B>announcES
rights offering for SHARES of COmmon Stock</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; text-transform: uppercase"><B>record
date and summary of terms</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Rye,
NY </B>-- The Board of Directors of The Gabelli Equity Trust Inc. (NYSE:GAB) (the &#8220;Fund&#8221;) has approved a transferable rights
offering which would allow the Fund&#8217;s record date common shareholders to acquire additional shares of common stock (the &#8220;Offering&#8221;).
The Offering will be made only by means of a prospectus, and this announcement does not constitute an offer to sell, or a solicitation
of an offer to buy, any of the Fund&#8217;s securities.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">SUMMARY
OF THE TERMS OF THE OFFERING</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; width: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#9679;&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Each shareholder will receive one transferable right (the
  &#8220;Right&#8221;) for each share of common stock held on the record date (<FONT STYLE="color: windowtext">June 2, 2021)</FONT>.</FONT></TD></TR>
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#9679;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Ten Rights plus $5.50 (the &#8220;Subscription Price&#8221;)
  will be required to purchase one additional share of common stock (the &#8220;Primary Subscription&#8221;). The purchase price will
  be payable in cash.</FONT></TD></TR>
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#9679;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Record date shareholders who fully exercise their Primary
  Subscription Rights will be eligible for an over-subscription privilege entitling these shareholders to subscribe, subject to certain
  limitations and a pro-rata allotment, for any additional shares of common stock not purchased pursuant to the Primary Subscription.
  <I>Rights acquired in the secondary market may not participate in the over-subscription privilege.</I></FONT></TD></TR>
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#9679;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Rights are expected to trade &#8220;when issued&#8221;
  on the New York Stock Exchange beginning on <FONT STYLE="color: windowtext">May 28, 2021</FONT>, and the Fund&#8217;s shares of common
  stock are expected to trade &#8220;Ex-Rights&#8221; on the New York Stock Exchange beginning on <FONT STYLE="color: windowtext">June
  1, 2021</FONT>. The Rights are expected to begin trading for normal settlement on the New York Stock Exchange (NYSE:GAB RT) on or about
  <FONT STYLE="color: windowtext">June 7, 2021</FONT>.</FONT></TD></TR>
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#9679;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Offering expires at 5:00 PM Eastern Time on <FONT STYLE="color: windowtext">July
  14, 2021</FONT>.</FONT></TD></TR>
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: left">
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD>
  <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Fund expects to mail subscription certificates evidencing the Rights and a copy of the prospectus for this Offering to record date shareholders
beginning on June 4, 2021. Financial Advisors will likely send notices to you shortly thereafter. Inquiries regarding the Offering should
be directed to the Fund at 800-GABELLI or 914-921-5070.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Offering is made pursuant to the Fund&#8217;s effective shelf registration statement on file with the Securities and Exchange Commission.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Any
shares of common stock issued as a result of the Offering will not be record date shares for the Fund&#8217;s quarterly distribution
to be paid on June 23, 2021 and will not be entitled to receive such distribution.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
proceeds may be used to redeem the Fund&#8217;s outstanding preferred stock.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>The
information herein is not complete and is subject to change. This document is not an offer to sell these securities and is not soliciting
an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. This document is not an offering, which
can only be made by a final prospectus. Investors should consider the Fund&#8217;s investment objective, risks, charges and expenses
carefully before investing. The base prospectus contains this and additional information about the Fund and the prospectus supplement
will contain this and additional information about the Offering, and should be read carefully before investing. For further information
regarding the Offering, or to obtain a prospectus supplement and the accompanying prospectus, when available, please contact the Fund
at 800-GABELLI or 914-921-5070.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt/10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Gabelli Equity Trust Inc. is a non-diversified, closed-end management investment company with $2.2 billion in total net assets whose
primary investment objective is long-term growth of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors,
Inc. (NYSE:GBL).</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">NYSE
&#8211; GAB</FONT></P>

<P STYLE="font: 10pt/115% Arial, Helvetica, Sans-Serif; margin: 0 0 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">CUSIP
&#8211; 362397101&nbsp;</FONT></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
