Equus Total Return Seeks Shareholder Support
for New Direction
Responds To Misleading Comments by Douglass Committee, A Group Led by Former Officers and the
Founder Of the Fund
Urges Equus Shareholders to Vote their WHITE Proxy Card Today
April 20, 2010 05:28 PM Eastern Daylight Time
HOUSTON--(EON: Enhanced Online News)--Equus Total Return, Inc. (NYSE: EQS) (the “Fund”) today sent a
letter to shareholders of the Fund in response to misleading statements from the “Committee to Enhance Equus,” a
group led by Sam Douglass (the founder of the Fund and an officer or director of Equus since its inception) and his
wife, Paula Douglass (who until March 17, 2010 had been an officer of the Fund and Vice Chairman of the Fund’s
former investment adviser).
“The Douglass Committee is seeking to regain control of the Equus board by launching a costly and disruptive proxy
contest for reasons that we believe are self-serving and not in the best interest of shareholders,” said Richard F.
Bergner, Chairman of the Board of Equus. “The Douglasses have long-standing ties to Equus and exaggerated the
independence of their nominees in an attempt to mislead shareholders.”
Mr. Bergner continued, “In contrast to the Douglass Committee’s director slate, the Fund’s director nominees –
which include four new directors who represent the largest single shareholder owning 9.28% in the Fund, and whose
interests are aligned with all shareholders – will be intently focused on building value for shareholders and
transforming Equus from a small Houston-based fund into a much larger, internationally focused and dynamic
investment vehicle that can capitalize on opportunities around the world. Our objective is to put Equus firmly back on
the track of receiving regular income and capital appreciation from our portfolio companies, with a goal of
reinstituting the Fund’s quarterly dividend that was discontinued in early 2009 under the Douglasses’ leadership.”
The Fund urged Equus shareholders to take an important step towards