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The Board of Directors of The Gabelli Equity Trust Inc. (NYSE - GAB) declared a $0.27 per share cash d
istribution payable on September 24, 2002 to common stock shareholders of record on September 16, 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
$1.3 billion in total assets whose primary investment objective is long term growth of capital.
The Fund is managed by Gabelli Funds, LLC, a subsidiary of Gabelli Asset Management Inc. (GBL - NYSE),
which is a publicly traded NYSE listed company.
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