PURCHASE AGREEMENT
Gabelli Equity Series Funds, Inc. (the "Corporation"), a Maryland Corporation,
and Gabelli & Company, Inc. (the "Buyer") hereby agree as follows:
1. The Corporation hereby offers the Buyer and the Buyer hereby
purchases one Class A Share (the "Share") of The Gabelli Equity Income Fund (the
"Fund"), at a price of $10.00. The Share is the "initial Class A Share" of the
Fund. The Buyer hereby acknowledges receipt of a purchase confirmation
reflecting the purchase of the Share, and the Corporation hereby acknowledges
receipt from the Buyer of funds in the amount of $10 in full payment for the
Share.
2. The Buyer represents and warrants to the Corporation that the Share
purchased by the Buyer is being acquired for investment purposes and not for the
purpose of distribution.
3. This Agreement has been executed on behalf of the Corporation by the
undersigned officer of the Corporation in his or her capacity as an officer of
the Fund.
4. This Agreement may be executed in counterparts, each of which shall
be deemed to be an original, but such counterparts shall, together, constitute
only one instrument.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the 28th day of January, 2000.
Attest:
GABELLI EQUITY SERIES FUNDS, INC.
By:/s/Xxxxx X. XxXxx /s/Xxxxx X. XxXxx
Xxxxx X. XxXxx Xxxxx X. Xxxxxx
Secretary Vice President and Treasurer
Attest:
GABELLI & COMPANY, INC.
By: /s/Xxxxxxx Xxxxx
Name: Name:Xxxxxxx Xxxxx
Title: Title:President
