Cornelius V. McGinity Named President of Gabelli & Company, Inc.

       Cornelius V. McGinity Named President of Gabelli & Company, Inc.

PR Newswire

RYE, N.Y., Oct. 24, 2012

RYE, N.Y., Oct. 24, 2012 /PRNewswire/ --Gabelli & Company, Inc., a subsidiary
of GAMCO Investors, Inc. (NYSE: GBL), announced today that Cornelius V.
McGinity has been appointed as the company's president, effective November 1,
2012. Gabelli & Company, Inc., provides research and trade execution services
to hedge funds, mutual funds and other institutional money managers. Mr.
McGinity's hiring follows the recent appointment of Daniel M. Miller to
Chairman of Gabelli & Company. Previously, Mr. Miller had served as president
of the company.

In his new role, Mr. McGinity will help build on Mr. Miller's 10-year
successful growth strategy for the business. He will be responsible for all
of the firm's institutional research sales and trading initiatives, and is
leading the effort to significantly grow the company's client base and team of
research analysts. Gabelli & Company, well known for its bottom-up,
value-driven approach to equity research, has ranked near the top of theWall
Street Journal's"Best on the Street" survey in each of the past three years.

Mr. McGinity was most recently a Managing Director, Institutional Sales at
Knight Capital Group for fifteen years. Prior to joining Knight, he was an
institutional sales trader at Cantor Fitzgerald from 1994-1997; and an equity
trader with several wire houses, including Merrill Lynch and Smith Barney. A
native of Long Island, New York, Mr. McGinity is a graduate of Villanova

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 partnerships and offshore funds (Investment Partnerships) and
is known for its Private Market Value with a Catalyst™ style of investment.

Contact: Douglas R. Jamieson
         (914) 921-5020
         For further information please visit

SOURCE Gabelli & Company, Inc.
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