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Portfolio Manager Ian Lapey Joins GAMCO Investors

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Will Lead Launch of Gabelli Global Financial Services Fund

GAMCO Investors, Inc. (NYSE:GBL) announced today that Ian Lapey will
join the firm as Portfolio Manager for the newly registered Gabelli
Global Financial Services Fund, part of its Gabelli Equity Series. The
registration for the fund is currently under review with the SEC and is
expected to launch on October 1, 2018.

Ian Lapey was most recently a Research Analyst and Partner at Moerus
Capital Management LLC. Prior to joining Moerus, Lapey was a Partner,
Research Analyst, and Portfolio Manager at Third Avenue Management. In
2009 he was appointed Co-Manager of the firm's flagship Third Avenue
Value Fund alongside legendary value investor Marty Whitman, and was
subsequently named sole Portfolio Manager of that fund in 2012.

Commenting on his appointment, Lapey said, "I have long admired Mario
Gabelli and the team at GAMCO. We share a fundamental, bottom-up
investing approach based on purchasing a common stock at a discount to
its intrinsic or private market value. We have over-lapped on many
successful investments over the years, and I always appreciate the way
they think like owners and advocate for shareholders."

Agnes Mullady, President of Gabelli Funds, said: "We are pleased to have
Ian join GAMCO. The firm will benefit from his extensive portfolio
experience across a broad spectrum of industries and asset classes. We
look forward to his contributions to the portfolio management team."

Prior to joining Third Avenue in 2001, Lapey held equity research
analyst positions at Credit Suisse First Boston and Salomon Brothers. He
began his career in 1991 as a staff accountant for Ernst & Young and is
a CPA (inactive). Mr. Lapey holds an M.B.A. in Finance and Statistics
from the Stern School of Business at New York University. He also holds
a Masters in Accounting from Northeastern University and a B.A. in
Economics from Williams College.

GAMCO Investors, Inc. (NYSE:GBL), through its subsidiaries, manages
assets of private advisory accounts (GAMCO), mutual funds and closed-end
funds (Gabelli Funds, LLC), and is known for its Private Market Value
with a Catalyst™ style of investment.

THE INFORMATION HEREIN IS NOT A PROSPECTUS. THE INFORMATION HEREIN AND
IN THE FUND'S PROSPECTUS IS NOT COMPLETE AND IS SUBJECT TO CHANGE. A
REGISTRATION STATEMENT, WHICH INCLUDES THE FUND'S PROSPECTUS, RELATING
TO THESE SECURITIES HAS BEEN FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION ("SEC"), BUT HAS NOT YET BECOME EFFECTIVE. THIS DOCUMENT IS
NOT AN OFFER TO SELL ANY SECURITIES AND IS NOT SOLICITING AN OFFER TO
BUY ANY SECURITIES IN ANY JURISDICTION WHERE THE OFFER OR SALE IS NOT
PERMITTED. THIS DOCUMENT IS NOT AN OFFERING, WHICH CAN ONLY BE MADE BY A
PROSPECTUS. INVESTORS SHOULD CONSIDER THE FUND'S INVESTMENT OBJECTIVE,
RISKS, CHARGES AND EXPENSES CAREFULLY BEFORE INVESTING. THE FUND'S FINAL
PROSPECTUS, WHEN AVAILABLE, WILL CONTAIN THIS AND ADDITIONAL INFORMATION
ABOUT THE FUND, AND SHOULD BE READ CAREFULLY BEFORE INVESTING. FOR
FURTHER INFORMATION REGARDING THE FUND, OR TO OBTAIN A FINAL PROSPECTUS,
WHEN AVAILABLE, PLEASE CONTACT US AT:

One Corporate Center
Rye, New York 10580-1422
Telephone: 800-GABELLI
(800-422-3554)
www.gabelli.com

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