Market Overview

Carl L. Kempner, Jr. & Melody Bryant to Join GAMCO Investors


GAMCO Investors, Inc. (NYSE:GBL) announced today that it has agreed to
the assignment of the separate accounts of Trevor, Stewart, Burton &
Jacobsen,(TSB&J), a firm with over $90 million in assets under
management for private wealth clients, endowments and foundations. Carl
Kempner, Jr. and Melody Bryant will join GAMCO in September to manage
the portfolios for TSB&J clients.

Mr. Kempner has managed portfolios for individuals, pension plans and
trusts for over 40 years with such firms as Herzfeld & Stern, Drexel
Burnham, and Hamershlag Kempner & Co. Melody Bryant, formerly
Co-Chairman of BKF Capital and a portfolio manager and Managing Director
at Neuberger Berman will also join GAMCO to manage client portfolios.
They will be based in GAMCO's Rye, New York office.

Mr. Kempner is the great grandson of Carl Loeb, founder of the
pre-eminent investment bank, Loeb Rhoades, which dates back to 1937.

Founded in 1974, TSB&J is a top-down, large capitalization equity
manager which invests in high quality businesses using risk mitigation
strategies. Their low turnover portfolios are managed to maximize tax

Commenting on his appointment, Carl Kempner said, "I have known Mario
Gabelli for nearly 40 years and have always admired his talent. We look
forward to working with him and the GAMCO team. Melody and I are
delighted to join GAMCO as we embark on this new stage in our careers."

Doug Jamieson, President of Gabelli Asset Management, said: "We are
pleased to have Melody and Carl join GAMCO. They have the experience and
the dedication to clients that we welcome at GAMCO. We look forward to
their contributions to the firm. In addition, we will continue to seek
RIA firms to join our organization."

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.

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