GAMCO Board Approves Special Dividend of $2.20 Per Share

GAMCO Investors

announced today that its Board of Directors declared a special dividend of $2.20 per share to all of its Class A and Class B shareholders in addition to declaring a quarterly dividend of $0.05 per share to all of its Class A and Class B shareholders, payable on November 29, 2012 to shareholders of record on November 21, 2012. GAMCO Investors, Inc., through its subsidiaries, manages private advisory accounts (GAMCO Asset Management Inc.), mutual funds and closed-end funds (Gabelli Funds, LLC), and partnerships and offshore funds (Gabelli Securities, Inc.). As of September 30, 2012, GAMCO had $36.9 billion in assets under management.