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The Board of Directors of The Gabelli Equity Trust Inc. (NYSE - GAB) declared a $0.27 per share
cash distribution payable on March 25, 2002 to common stock shareholders of record on March 15,
2002, pursuant to the Gabelli Equity Trust's 10% Distribution Policy. Long term capital gains,
if any, will be included on a pro-rata basis in all distributions throughout the year.
Under the Equity Trust's payout policy, the Fund will pay out a minimum annual distribution of
10% of the average net asset value of the Fund. The Fund will pay $0.27 per share in each of the
first three quarters of the year and an adjusting distribution in the fourth quarter of a sufficient
amount to pay 10% of the average net asset value of the Fund, as of the last day of the four
preceding calendar quarters, or to satisfy the minimum distribution requirements of the Internal
Revenue Code, whichever is greater.
The Gabelli Equity Trust Inc. is a closed-end, non-diversified management investment company with
$1.4 billion in total assets whose primary investment objective is long term growth of capital.
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