July 29, 2010
Ms. Patricia Williams
Securities and Exchange Commission
100 F Street, NE
Washington, DC 20549
RE: Nicholas Equity Income Fund, Inc. (the “Fund”)
Registration Nos. 033-69804/811-08062
Ms. Williams:
This Post-Effective Amendment (“PEA”) No. 33 to the Fund’s Registration Statement is being filed pursuant to Rule 485(b) under the Securities Act of 1933 for the purpose of:
(a) responding to your oral comments and suggestions to PEA No. 31 to the Fund’s Registration Statement received on July 23, 2010;
(b) updating any missing information;
(c) filing any updated exhibits to the Registration Statement; and
(d) making any other nonmaterial changes as appropriate.
This PEA has an effective date of July 31, 2010.
Please telephone the undersigned at (414) 272-4650 or Jason T. Thompson of Michael Best & Friedrich LLPat (414) 277-3482 with any questions you may have or for any further information you may desire.
Very truly yours,
/s/ Jeffrey T. May
Senior Vice President, Secretary and Treasurer
Cc: Jason T. Thompson
