GAMCO Board Approves a First Quarter Dividend of $0.05 Per Share and Authorizes Additional 500,000 Shares for Stock Buyback

  GAMCO Board Approves a First Quarter Dividend of $0.05 Per Share and
  Authorizes Additional 500,000 Shares for Stock Buyback

Business Wire

RYE, N.Y. -- February 5, 2013

GAMCO Investors, Inc. (NYSE: GBL) announced today that its Board of Directors
approved a quarterly dividend of $0.05 per share to all of its Class A and
Class B shareholders, payable on March 26, 2013 to its Class A and Class B
shareholders of record on March 12, 2013.

In addition, the Board of Directors authorized the repurchase of up to an
additional 500,000 shares of its Class A Common Stock at such times, prices
and amounts to be determined by the company. After this additional
authorization, there are 652,443 shares authorized and available for
repurchase under GAMCO’s stock repurchase program. Since our 1999 IPO in which
we sold six million shares at a price of $17.50 per share, we have returned
$773.7 million to our shareholders through dividends and stock repurchases. We
have repurchased 8.5 million shares at an average price of $41.65 per share
for an investment of $353.3 million and paid cumulative dividends of $420.4
million or $16.30 per share.

GAMCO Investors, Inc., through its subsidiaries, manages private advisory
accounts (GAMCO Asset Management Inc.), mutual funds and closed-end funds
(Gabelli Funds, LLC), and partnerships and offshore funds (Gabelli Securities,
Inc.). As of December 31, 2012, GAMCO had $36.4 billion in assets under
management.

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

Our disclosure and analysis in this press release may contain some
forward-looking statements. Forward-looking statements give our current
expectations or forecasts of future events. In particular, these include
statements relating to future actions, future performance and financial
results. Although we believe that we are basing our 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 results
will not differ materially from what we expect or believe.

We also direct your attention to any more 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 expectations or if we
receive any additional information relating to the subject matters of our
forward-looking statements.

Contact:

GAMCO Investors, Inc.
Robert S. Zuccaro, 914-921-5088
Executive Vice President and Chief Financial Officer
or
For further information please visit
www.gabelli.com