GAMCO Board Approves a Special Dividend of $0.80

GAMCO Investors, Inc.

announced today that its Board of Directors approved a special dividend of $0.80 per share in cash and $3.20 of principal per share in the form of a debenture. The debenture is expected to be a five-year, zero coupon bond. This special dividend will be declared and paid in 2010. Further details will be announced in the future.