GAMCO Announces Final Results of Its Dutch Auction Tender Offer

RYE, N.Y., Dec. 18, 2012

Based on the final count by Computershare Trust Company, N.A., the Depositary for the Offer, 717,389 shares were validly tendered and not properly withdrawn at or below the final purchase price of $50.00 per share.  Since the Offer was not fully subscribed, no proration was required and all shares validly tendered and not properly withdrawn were accepted for purchase.  All of the shares purchased in the Offer were purchased at the same price of $50.00 per share.  As such, GAMCO has accepted for purchase 717,389 shares of its Class A common stock at a purchase price of $50.00 per share for a total investment of approximately $35.9 million, excluding fees and expenses related to the Offer.

Following consummation of the Offer, GAMCO has approximately 6,121,298 shares of Class A common stock outstanding.

The Depositary will promptly issue payment for the shares validly tendered and accepted under the Offer.

Please contact Morrow & Co., LLC, the Information Agent for the Offer, at (800) 573-4370 or GAMCO.info@morrowco.com with any questions regarding the Offer.

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 GAMCO conducts its investment advisory business principally through: GAMCO Asset Management Inc. (Institutional and High Net Worth), Gabelli Funds, LLC (Mutual Funds) and Gabelli Securities, Inc. (Investment Partnerships).  GAMCO also acts as an underwriter and provides institutional research through Gabelli & Company, Inc., one of its broker-dealer subsidiaries.  The distribution of GAMCO's open-end funds is conducted through G.distributors, LLC.