Equus Total Return, Inc. (EQS)

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Equus Total Return, Inc. Announces Follow-On Equity Investment in Nickent
Golf


HOUSTON, Feb 29, 2008 /PRNewswire-FirstCall via COMTEX/ -- Equus Total Return,
Inc. (NYSE: EQS) (the "Fund") announces a $1 million follow-on equity investment
in Nickent Golf, Inc. ("Nickent"). Nickent will use the proceeds for working
capital, strategic marketing and global expansion.

Nickent is a market leader in the rapidly expanding, hybrid club segment of the
golf industry and is an emerging leader in game-enhancement technology.
Nickent's development process is driven by its dedication to advanced
technologies and focus on design innovation. Additional information on Nickent
Golf, Inc. may be obtained at the Nickent website at http://www.nickentgolf.com.

"This follow-on investment in Nickent demonstrates our confidence in the
company's future," commented Anthony Moore, Chairman of Nickent. "We are
particularly encouraged by the broad and positive media exposure from which
Nickent has recently benefited and the resultant interest in the company's
products including the new 4DX Evolver driver which utilizes Interchangeable
Shaft Technology."

"Nickent recently finished as the most used driver on the Nationwide Tour, an
astonishing accomplishment given our size," commented Michael Lee, founder and
CEO of Nickent. "This follow-on investment by Equus demonstrates its commitment
to Nickent and will allow us to charge ahead and continue our growth across the
globe."

Equus Total Return, Inc. 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's 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 Company or any other person that
the events or circumstances described in such statements are material.

CONTACT: BRETT CHILES

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SOURCE Equus Total Return, Inc.