Equus Total Return, Inc. Announces First Quarter Dividend

HOUSTON, Feb. 27  /PRNewswire-FirstCall/ -- Equus Total Return, Inc. (NYSE: EQS) (the "Fund"), in accordance with the Fund's managed distribution policy, announced a dividend of $0.1075 per share for the first quarter of 2009.  The Fund seeks to pay quarterly dividends at an annualized rate of 10% of the Fund's market value of $4.30 at December 31, 2008.  For this quarter, the dividend will be payable on March 30, 2009, to shareholders of record as of the close of business on March 9, 2009.  Equus shares will trade ex-dividend beginning Thursday, March 5, 2009.  The dividend will be payable in shares of common stock.  Stock issued in the dividend will be valued at the average closing market price of EQS for the ten trading days ending March 23, 2009.  Cash will be paid in lieu of issuing any fractional shares.

Equus Total Return, Inc. is a business development company that trades as a closed-end fund on the New York Stock Exchange, under the symbol "EQS".  Additional information on Equus Total Return, Inc. may be obtained from the Equus website at http://www.equuscap.com/.

This press release may contain certain forward-looking statements regarding future circumstances.  These forward-looking statements are based upon the Fund's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Fund's filings with the Securities and Exchange Commission.  Actual results, events, and performance may differ.  Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof.  The Fund undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.  The inclusion of any statement in this release does not constitute an admission by the Fund or any other person that the events or circumstances described in such statements are material.

CONTACT:  Brett Chiles

[phone] 

DATASOURCE: Equus Total Return, Inc.



CONTACT:  Brett Chiles of Equus Total Return, Inc., [phone]



Web Site:  http://www.equuscap.com/ 

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