HOUSTON, TX - February 18, 2010 - Equus Total Return, Inc. (NYSE: EQS) (the "Fund") has announced a series of strategic leadership moves within its Board of Directors and senior officer ranks.

Alan D. Feinsilver has been appointed non-Executive Chairman of the Board. Mr. Feinsilver has served on the Fund's Board as Independent Director for four years. He was recently the Fund's Audit Committee Chairman and will continue to serve on the Committee. Mr. Feinsilver is a certified public accountant, attorney, and entrepreneur, who resides in Houston, TX. He is the owner and president of The Overbrook Company, a private investment company also based in Houston.

Mr. Feinsilver replaces Gregory J. Flanagan as Chairman of the Board. Mr. Flanagan served as the Fund's Chairman, Chief Executive Officer and President during the Fund's transition to an "internally" managed investment operation from July 2009 to present. Mr. Flanagan resigned from his officer positions to pursue other endeavors.

Francis D. (Doug) Tuggle, Ph.D. was elected Chairman of the Fund's Audit Committee, effective April 1, 2010. Dr. Tuggle has been an Independent Director of the Fund for nineteen years. He is a career educator and management consultant. Dr. Tuggle is former Dean and current professor of the Argyros School of Business and Economics at Chapman University in Orange, CA.

Henry W. (Bill) Hankinson was appointed Chairman of the Fund's Governance and Nominating Committee. Mr. Hankinson has served on the Board as an Independent Director for four years and has held senior executive management positions for over thirty years. He is co-founder and general manager of Global Business Associates, LLC, a boutique M&A firm based in Atlanta, GA.

S. J. "Jay" Brown, 41, has been appointed the Fund's Chief Investment Officer and will serve as the Fund's principal executive officer for an interim period. Mr. Brown has 16 years of corporate finance and transactional experience serving in principal and advisory roles mostly involving private equity and investment banking sectors. He has been a consultant to the Fund since October 2009 and has recently served as the general partner of a private equity partnership. He has an MBA (finance) from the University of Houston, and a BBA from Baylor University and is a Chartered Financial Analyst. Mr. Brown resides in Houston, TX.

"These strategic appointments reflect the Fund's transition to internalized management while seeking to provide additional managerial assistance to the portfolio companies," said Mr. Feinsilver. "The demonstrated performance and experience of these leaders ensure our continued focus to enhance shareholder value."

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 www.equuscap.com.