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

The Board of Directors of The Gabelli Equity Trust Inc.

(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.