SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
                                (Amendment No. )

Filed by Registrant [X]
Filed by a Party other than the Registrant [_]

Check the appropriate box:
[_]  Preliminary Proxy Statement
[_]  Confidential, for Use of the Commission Only (as permitted by Rule
     14a-6(e)(2))
[_]  Definitive Proxy Statement
[X]  Definitive Additional Materials
[_]  Soliciting Material Pursuant to Sec. 240.14a-12

                          THE GABELLI EQUITY TRUST INC.
                (Name of Registrant as Specified In Its Charter)

    (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

[X]  No fee required

[_]  Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

     1)   Title of each class of securities to which transaction applies:

     2)   Aggregate number of securities to which transaction applies:

     3)   Per unit price or other underlying value of transaction computed
          pursuant to Exchange Act Rule 0-11(set forth the amount on which the
          filing fee is calculated and state how it was determined):

     4)   Proposed maximum aggregate value of transaction:

     5)   Total fee paid:

[_]  Fee paid previously with preliminary materials.

[_]  Check box if any part of the fee is offset as provided by Exchange Act Rule
     0-11(a)(2) and identify the filing for which the offsetting fee was paid
     previously. Identify the previous filing by registration statement number,
     or the Form or Schedule and the date of its filing.

     1)   Amount Previously Paid:

     2)   Form, Schedule or Registration Statement No.:

     3)   Filing Party:

     4)   Date Filed:



                       *** EXERCISE YOUR RIGHT TO VOTE ***
     IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE
                 SHAREHOLDER MEETING TO BE HELD ON MAY 17, 2010.

                                ------------------------------------------------
THE GABELLI EQUITY TRUST INC.   |               MEETING INFORMATION            |
                                |  MEETING TYPE:      Annual                   |
                                |  FOR HOLDERS AS OF: March 15, 2010           |
                                |  DATE: May 17, 2010 TIME: 9:30 a.m. ET       |
                                |  LOCATION: The Cole Auditorium               |
                                |            The Greenwich Library             |
                                |            101 West Putnam Avenue            |
                                |            Greenwich, Connecticut 06830      |
                                ------------------------------------------------

                                You are receiving this communication because you
                                hold shares in the above named fund.

                                This is not a ballot. You cannot use this notice
                                to  vote  these   shares.   This   communication
                                presents  only an overview of the more  complete
                                proxy materials that are available to you on the
                                Internet.  You  may  view  the  proxy  materials
                                online at  www.proxyvote.com or easily request a
                                paper copy (see reverse side).

                                We encourage you to access and review all of the
                                important  information  contained  in the  proxy
                                materials before voting.

                                SEE THE  REVERSE  SIDE OF THIS  NOTICE TO OBTAIN
                                PROXY MATERIALS AND VOTING INSTRUCTIONS.

M23468-Z52458



                              -- BEFORE YOU VOTE --
                        How to Access the Proxy Materials

--------------------------------------------------------------------------------
| PROXY MATERIALS AVAILABLE TO VIEW OR RECEIVE:                                |
|                                                                              |
| PROXY STATEMENT                                                              |
|                                                                              |
| HOW TO VIEW ONLINE:                                                          |
|                                                                              |
| Have the 12-Digit Control Number  available  (located on the following page) |
| and visit: www.proxyvote.com.                                                |
|                                                                              |
| HOW TO REQUEST AND RECEIVE A PAPER OR E-MAIL COPY:                           |
|                                                                              |
| If you want to receive a paper or e-mail copy of these  documents,  you must |
| request one. There is NO charge for requesting a copy.  Please choose one of |
| the following methods to make your request:                                  |
|                                                                              |
|               1) BY INTERNET:    www.proxyvote.com                           |
|               2) BY TELEPHONE:   1-800-579-1639                              |
|               3) BY E-MAIL*:     sendmaterial@proxyvote.com                  |
|                                                                              |
| *    If  requesting  materials  by e-mail,  please send a blank  e-mail with |
|      the 12-Digit  Control  Number  (located on the  following  page) in the |
|      subject line.                                                           |
|                                                                              |
| Requests,  instructions and other inquiries sent to this e-mail address will |
| NOT be  forwarded  to your  investment  advisor.  Please make the request as |
| instructed above on or before May 4, 2010 to facilitate timely delivery.     |
--------------------------------------------------------------------------------

                                -- HOW TO VOTE --
                Please Choose One of the Following Voting Methods

--------------------------------------------------------------------------------
| VOTE IN PERSON: If you choose to vote these shares in person at the meeting, |
| you must request a "LEGAL  PROXY." To do so, please follow the  instructions |
| at  www.proxyvote.com  or request a paper copy of the materials,  which will |
| contain  the  appropriate  instructions.   Many  shareholder  meetings  have |
| attendance requirements including,  but not limited to, the possession of an |
| attendance ticket issued by the entity holding the meeting. Please check the |
| meeting materials for any special requirements for meeting attendance.       |
|                                                                              |
| VOTE BY INTERNET: To vote now by Internet, go to www.proxyvote.com. Have the |
| 12-Digit Control Number available and follow the instructions.               |
|                                                                              |
| VOTE BY  MAIL:  You can  vote by  mail  by  requesting  a paper  copy of the |
| materials, which will include a voting instruction form.                     |
--------------------------------------------------------------------------------

M23469-Z52458



                                                                      ----------
                                                                               |
                                                                               |
                                                                               |
                                                                               |
THE BOARD OF DIRECTORS RECOMMENDS
THAT YOU VOTE FOR THE FOLLOWING:

1.   Election of Directors

     NOMINEES:

     1a.  Mario J. Gabelli, CFA

     1b.  Thomas E. Bratter

     1c.  Arthur V. Ferrara

NOTE:  Such other  business  as may  properly  come  before  the  meeting or any
adjournment thereof.

M23470-Z52458



                                                                      ----------
                                                                               |
                                                                               |
                                                                               |
                                                                               |
THE BOARD OF DIRECTORS RECOMMENDS
THAT YOU VOTE FOR THE FOLLOWING:

1.   Election of Directors

     NOMINEES:

     1a.  Mario J. Gabelli, CFA

     1b.  Thomas E. Bratter

     1c.  Arthur V. Ferrara

NOTE:  Such other  business  as may  properly  come  before  the  meeting or any
adjournment thereof.

M23471-Z52458



                                                                      ----------
                                                                               |
                                                                               |
                                                                               |
                                                                               |
-----------------------
|                     |
| VOTING INSTRUCTIONS |
|                     |
-----------------------

M23472-Z52458




GABELLI FUNDS

                         THE GABELLI EQUITY TRUST INC.

         IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS
             FOR THE SHAREHOLDER MEETING TO BE HELD ON MAY 17, 2010

                               MEETING INFORMATION

TYPE:       ANNUAL
DATE:       MAY 17, 2010
TIME:       9:30 A.M.
LOCATION:   THE COLE AUDITORIUM, THE GREENWICH LIBRARY,
            101 WEST PUTNAM AVENUE, GREENWICH, CT 06830

                                              The control number below will
                                              allow you to access proxy
                                              information online for all your
                                              investments connected with this
                                              Annual Shareholder Meeting.

                                                    YOUR CONTROL NUMBER IS:

THIS IS NOT A BALLOT OR PROXY CARD. YOU CANNOT USE THIS NOTICE TO VOTE THESE
SHARES. THIS COMMUNICATION PRESENTS ONLY AN OVERVIEW OF THE MORE COMPLETE PROXY
MATERIALS THAT ARE AVAILABLE TO YOU. YOU MAY VIEW THE PROXY MATERIALS ONLINE AT
www.proxyonline.com/GabelliFunds OR EASILY REQUEST A PAPER COPY (SEE REVERSE
SIDE).

WE ENCOURAGE YOU TO ACCESS AND REVIEW ALL OF THE IMPORTANT INFORMATION CONTAINED
IN THE PROXY MATERIALS BEFORE VOTING. THE PROXY MATERIALS AVAILABLE TO YOU
INCLUDE A NOTICE OF MEETING, A PROXY STATEMENT, A PROXY CARD, AND THE LATEST
ANNUAL REPORT.

The Meeting will be held for the following purposes:

     1.   To elect Nominees to the Fund's Board of Trustees; and

     2.   To consider such other matters as may properly come before the Meeting
          or any adjournments thereof.

The Board of Trustees recommends a vote FOR the election of each Nominee.

YOU MAY ATTEND THE MEETING AND VOTE YOUR SHARES IN PERSON BY BALLOT. IF YOU
CANNOT ATTEND OR DO NOT WISH TO ATTEND THE MEETING, SEE THE REVERSE SIDE OF THIS
NOTICE TO OBTAIN PROXY MATERIALS. PLEASE CAST YOUR VOTE PROMPTLY SO THAT YOUR
SHARES MAY BE REPRESENTED AT THE MEETING.

Please call toll free 800-239-6513 for information on how to obtain directions
to attend the Meeting and vote in person.

           Please address any correspondence regarding the Meeting to:
               GABELLI FUNDS, P.O. BOX 6500, CARLSTADT, NJ 07072.

Thank you in advance for your participation.

SHAREHOLDER PRIVACY: To ensure your privacy there is no personal information
required to view or request proxy materials and/or vote. The control number
listed above is a unique identifier created for this proxy and this proxy only.
It is not linked to your account number nor can it be used in any other manner
other than this proxy.


HOW TO ACCESS THE PROXY MATERIALS

If you wish to receive a paper or electronic copy of these documents, you must
request one. There is no charge to you for requesting a copy. Please make your
request for a copy using any of the options below. If you wish to receive a
paper copy through the mail please make that request on or before May 7, 2010 to
allow for timely delivery. If you request to receive an electronic copy please
do so by May 14, 2010.

(GRAPHIC)

                                   BY INTERNET

Log-on to the secure voting site www.proxyonline.com using the control number on
the reverse side. There you may review the proxy materials, request a paper copy
of the proxy materials and/or enter your voting instructions, There you may also
indicate your instructions to receive ALL FUTURE PROXY MATERIALS FROM THE FUND
via mail or e-mail.

(GRAPHIC)

                                  BY TELEPHONE

Call toll-free 800-239-6513 and reference the control number on the reverse side
to request a paper copy of the proxy materials. Proxy representatives will be
ready to assist you Monday through Friday from 9 a.m. to 10 p.m. Eastern Time.

(GRAPHIC)

                                    BY E-MAIL

To request a copy of the proxy material, PLEASE SEND AN E-MAIL WITH YOUR CONTROL
NUMBER IN THE SUBJECT LINE TO THE ADDRESS NOTED BELOW:

For a paper copy: mailproxy@proxyonline.com

For an electronic copy: emailproxy@proxyonline.com

To elect to receive ALL FUTURE PROXY MATERIALS FROM THE FUND via the referenced
delivery method, please type "PERMANENT REQUEST" in the body of the e-mail.