Gabelli Equity Trust Issues $105 Million of 5.00% Series H Cumulative Preferred Stock

The Board of Directors of The Gabelli Equity Trust Inc. GAB (the “Fund”) is pleased to announce the completion of an offering of 4.2 million shares of 5.00% Series H Cumulative Preferred Stock (the “Series H Preferred”) valued at $105 million. The Series H Preferred is rated “AAA” by Standard & Poor's Ratings Services. The Series H Preferred is perpetual, non-callable for five years, and was issued at $25 per share. Distributions are scheduled to be paid quarterly beginning on December 26, 2012.