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The Board of Directors of The Gabelli Equity Trust Inc. (NYSE - GAB) declared a $0.453125
per share cash distribution payable on September 26, 2000 to Preferred Shareholders of
record on September 19, 2000.
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 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. This has the
effect of providing individual shareholders with an ordinary income tax equivalent yield
that is higher than the current yield. Long-term capital gains will be allocated to all
distributions for the year. The final determination of the source of all distributions
in 2000 will be made after year-end.
The Gabelli Equity Trust Inc. is a closed-end, non-diversified management investment
company with $1.5 billion in total assets whose primary investment objective is long
term growth of capital.
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