GAMCO Board Approves a Special Dividend of $1.00 Per Share

GAMCO Investors, Inc.

announced today that its Board of Directors approved a special dividend of $1.00 per share to all of its Class A and Class B shareholders, payable on November 22, 2011 to shareholders of record on November 17, 2011. The Board also declared a quarterly dividend of $0.04 per share to all of its Class A and Class B shareholders, payable on December 27, 2011 to shareholders of record on December 13, 2011.