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GAMCO Announces Final Results of Its Dutch Auction Tender Offer

       GAMCO Announces Final Results of Its Dutch Auction Tender Offer

PR Newswire

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

RYE, N.Y., Dec. 18, 2012 /PRNewswire/ --GAMCO Investors, Inc. ("GAMCO")
(NYSE: GBL) announced today the final results of its modified "Dutch Auction"
tender offer (the "Offer"), commenced November 14, 2012, to purchase for cash
up to 800,000 shares of its outstanding Class A common stock, $0.001 par
value, at a price per share of not less than $46.00 nor greater than $50.00
per share, net to the seller in cash, without interest. The Offer expired at
12:00 Midnight, Eastern Time, on December 12, 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for the Offer, 717,389 shares were validly tendered and not properly withdrawn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tendered and not properly withdrawn were accepted for purchase.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.comwith any questions regarding the
Offer.

*************************

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.

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

Our disclosure in this press release contains some forward-looking statements.
Forward-looking statements give our current intentions, expectations or
forecasts of future events. You can identify these statements because they do
not relate strictly to historical or current facts. Although we believe that
we are basing our intentions, expectations and beliefs on reasonable
assumptions within the bounds of what we currently know about our business and
operations, there can be no assurance that our actual actions or results will
not differ materially from what we currently expect, intend or believe. We
direct your attention to specific discussions of risk contained in our Form
10-K and other public filings. We are providing these statements as permitted
by the Private Litigation Reform Act of 1995. We do not undertake to update
publicly any forward-looking statements if we subsequently learn that we are
unlikely to achieve our intentions or expectations, or if we receive any
additional information relating to the subject matters of our forward-looking
statements.

Contact: Robert S. Zuccaro
 Executive Vice President
 and Chief Financial Officer
 (914) 921-5088

 For further information please visit
 www.gabelli.com

SOURCE GAMCO Investors, Inc.

Website: http://www.gabelli.com
 
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