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Rye, NY -- The Board of Directors of The Gabelli Equity Trust Inc. (NYSE - GAB) has declared
a $0.27 per share cash distribution payable on March 29, 1999 to common stock shareholders of
record on March 19, 1999, 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 objective is long term growth of capital.
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