The Board of Directors of The Gabelli Equity Trust Inc. have declared a $0.25 per share cash distribution

FOR IMMEDIATE RELEASE
Rye, NY
February 20, 1998
NYSE - GAB
For information:
Marc Diagonale
(914) 921-5071

The Board of Directors of The Gabelli Equity Trust Inc. has authorized declaration of a $0.25 per share cash distribution payable on March 26, 1998 to shareholders of record on March 17, 1998, pursuant to The Gabelli Equity Trust's 10% Distribution Policy.

The Gabelli Equity Trust Inc. is a closed-end, non-diversified management investment company whose primary objective is long-term growth of capital.