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Rye, NY -- The Board of Directors of The Gabelli Equity Trust Inc. (NYSE - GAB) declared a
$0.453125 per share cash distribution payable on March 29, 1999 to Preferred Shareholders of
record on March 22, 1999.
The Preferred Shares, which trade on the New York Stock Exchange under the symbol "GAB pr",
are rated 'aaa' by Moody's Investor Services and have an annual dividend rate of $1.8125 per
share. The 5,400,000 Preferred Shares were issued on June 9, 1998 at $25.00 per share and will
pay distributions quarterly.
A portion of this distribution will be treated as long-term capital gains. Long-term capital
gains will be allocated to all distributions for the year. The final determination of the source
of all distributions in 1999 will be made after year-end.
The Gabelli Equity Trust Inc. is a closed-end, non-diversified management investment company
with $1.4 billion in total assets whose primary objective is long term growth of capital.
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