HOUSTON, Jan. 2 /PRNewswire-FirstCall/ -- Equus Total Return, Inc. (the "Fund") announces a write down of its debt and equity investment in Nickent Golf, Inc. ("Nickent"). The write down from $8.43 million to $180,000 is based on Nickent's current financial condition and the effects of the market economy on Nickent's business. The remaining fair value of the Fund's investment represents a short-term loan secured by certain accounts receivable of Nickent. Today's write down follows a write down from $9.18 million to $8.25 million at September 30, 2008. Previous to today's write down, the investment represented approximately 8.7% of the Fund's total net assets.
Equus 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
(713) 529-0900
