Committee Urges Support for Its Highly Qualified NThe Committee to Enhance Equus Mails Letter to StockholdersNoting Five Year 65% Decline in Stockholder Value
Committee Urges Support for Its HighlyQualified Nominees Committed to Effect Change and Increase Stockholder Value
Vote the Gold Proxy Card
08:00 EDT Monday, April 26, 2010
HOUSTON (Business Wire) -- The Committee to Enhance Equus, owning 11.4% ofthe outstanding shares of Equus Total Return, Inc. (NYSE:EQS), announced that ithas mailed a letter to stockholders in connection with the Company's May 12,2010 Annual Meeting. Stockholders can view the letter in its entirety atwww.ourmaterials.com/enhanceequus.
The Committee shares our fellow stockholders' disappointment over theunacceptable 65% drop in share price from June 30, 2005 to March 26, 2010 (thelast trading day before members of The Committee announced their intention tolaunch a proxy contest). The Committee also notes the current five-membermajority of the Board, which includes Kenneth I. Denos, are attempting tofurther entrench themselves by packing the Board with four new nominees (who donot personally own any Equus shares) without properly investigating theirbackgrounds. These four nominees, who “represent” a single stockholder, wereintroduced to Equus by MCC Global N.V. and nominated by Mr. Denos and themajority. The Committee believes that it would be imprudent and unfair to allother stockholders to have the interests of one stockholder, who owns less than10% of the outstanding shares, to be grossly overrepresented on the Board, withits “representatives” seeking to occupy more than 40% of the seats on yourBoard.
The Committee stated, “The current majority, or the ‘Holdover 5,' have chosento use distorted arguments in an attempt to deflect focus from the sufferingthat stockholders have endured over the past 5 years. We will not allow them torun away from their record of destroying stockholder value. We urge stockholdersto send a clear message that this election is about who is best at creatingvalue and returning Equus to its past successful 25-year investment philosophy.”
Stockholders are urged to read The Committee's letter and proxy statement intheir entirety and to vote their shares today on the GOLD proxy card. TheCommittee's materials may be viewed at www.ourmaterials.com/enhanceequus.
THE COMMITTEE TO ENHANCE EQUUS HAS FILED A DEFINITIVE PROXY STATEMENT ANDOTHER DOCUMENTS WITH THE SECURITIES AND EXCHANGE COMMISSION. SECURITY HOLDERSARE URGED TO READ CAREFULLY THE DEFINITIVE PROXY STATEMENT BECAUSE IT CONTAINSIMPORTANT INFORMATION REGARDING THE SOLICITATION OF PROXIES FOR USE AT EQUUSTOTAL RETURN, INC.'S ANNUAL MEETING, INCLUDING INFORMATION RELATING TO THECOMMITTEE, OUR NOMINEES AND THE PARTICIPANTS IN THIS SOLICITATION. THEDEFINITIVE PROXY STATEMENT AND A FORM OF PROXY ARE AVAILABLE TO EQUUSSTOCKHOLDERS FROM THE PARTICIPANTS AT NO CHARGE ATWWW.OURMATERIALS.COM/ENHANCEEQUUSAND ARE ALSO AVAILABLE AT NOCHARGE AT THE SECURITIES AND EXCHANGE COMMISSION'S WEBSITE ATWWW.SEC.GOV. THE DEFINITIVE PROXY STATEMENT AND A FORM OF PROXY WEREDISSEMINATED TO SECURITY HOLDERS ON OR ABOUT APRIL 15, 2010.