The Gabelli Equity Trust Inc. announced that Mr. James P. Conn term as a Director is scheduled to expire at the Fund's 2021 Annual Meeting of Stockholders. Therefore, he is not standing for election at the AGM to be held on May 11, 2020. A quorum of the Preferred Stockholders must be present in person or by proxy at the Meeting in order for the proposal to elect Mr. Nakamura to be considered.