Gabelli Entertainment & Telecommunications Acquisition Corp. Watch

from S-1/A 2 pages Cusip 3623xa 115

from S-1/A 18 pages Warrant Agreement

from S-1/A 2 pages Cusip 3623xa 115

from S-1/A 18 pages Warrant Agreement

from S-1/A 2 pages Fully Paid and Non-Assessable Shares of the Par Value of $.0001 Each of the Common Stock of Gabelli Entertainment & Telecommunications Acquisition Corp. Transferable on the Books of the Corporation in Person or by Duly Authorized Attorney Upon Surrender of This Certificate Properly Endorsed. the Corporation Will Be Forced to Liquidate if It Is Unable to Complete a Business Combination Within Certain Time Periods, All as More Fully Described in the Corporation’s Final Prospectus Dated , 2008 This Certificate Is Not Valid Unless Countersigned by the Transfer Agent and Registered by the Registrar. Witness the Facsimile Seal of the Corporation and the Facsimile Signatures of Its Duly Authorized Officers

from S-1/A 2 pages Units Consisting of One Share of Common Stock and One Warrant to Purchase One Share of Common Stock

from S-1/A 2 pages • of the Founder’s Units Are Subject to Forfeiture to the Extent That the Underwriters Do Not Exercise Their Over-Allotment Option in the Ipo in Full; • the Founder’s Units Will Be Placed in Escrow and the Founder’s Common Stock and Founder’s Warrants Will Be Subject to Certain Transfer Restrictions and Registration Rights Described in the Registration Statement Relating to the Ipo (“Registration Statement”); • the Founder’s Warrants Will Be Exercisable on a Cashless Basis, at the Holder’s Election, and Will Not Be Redeemable by the Corporation, in Each Case, as Long as They Are Held by the Undersigned or Its Permitted Transferees; • the Undersigned Will Not Be Able to Exercise Conversion Rights (As Described in the Registration Statement) With Respect to the Founder’s Common Stock; and • the Undersigned Agrees to Waive Its Rights to Participate in Any Liquidation Distribution With Respect to the Founder’s Common Stock if the Corporation Fails to Consummate an Initial Business Combination