X0202 4 2007-05-01 0 0000794685 GABELLI EQUITY TRUST INC GAB 0001185533 GABELLI MARIO J C/O GAMCO INVESTORS, INC ONE CORPORATE CENTER RYE NY 10580 1 0 0 0 Common Stock, Par Value $0.001 2007-05-01 4 S 0 14000 10.1071 D 724635 I GGCP, Inc. Common Stock, Par Value $0.001 2007-05-02 4 S 0 11000 10.12 D 713635 I GGCP, Inc. Common Stock, Par Value $0.001 985321.27 D Mr. Gabelli has less than 100% interest in this entity. The securities reported reflect the total number of securities beneficially owned by this entity, which is greater than Mr. Gabelli's indirect pecuniary interest. Mr. Gabelli hereby disclaims beneficial ownership of the shares by this entity which are in excess of his pecuniary interest. /s/ James E. McKee Attorney-in-Fact for Mario J. Gabelli 2007-05-03