Peter A. Tcherepnine to Join GAMCO Investors

GAMCO Investors, Inc. (NYSE:GBL) announced today that it has agreed to
the assignment of the separate accounts of Loeb Partners Corporation, a
firm with over $400 million in assets under management for private
wealth clients, endowments and foundations. Peter Tcherepnine will join
GAMCO as a Senior Vice President in December to manage the portfolios
for Loeb clients.

Mr. Tcherepnine was born and educated in France and the United States
and became a U.S. citizen in 1960. He has managed portfolios for
individuals, companies, and trusts for over fifty years. After
graduating from Harvard University with a B.A. degree and serving for
two years as an officer in the U.S. Army Artillery, he joined Loeb,
Rhoades & Co. in international sales. He was the manager of the New York
International Dept. when most of the firm was sold in 1979. Subsequently
he concentrated on asset management at the remaining entity, Loeb
Partners Corporation and is a member of the board of Loeb Holding Corp.,
the parent company. He will be based in GAMCO's Rye office and will be
assisted by his long-time associate, Michael F. Campbell.

Commenting on his appointment, Mr. Tcherepnine said, "I have known Mario
Gabelli from when he was a brilliant analyst at Loeb, Rhoades. I very
much look forward to working with him and the entire GAMCO team."

Doug Jamieson, President of Gabelli Asset Management, said: "We are
pleased to have Peter join GAMCO. His depth of experience and dedication
to clients will serve our firm well. We look forward to his
contributions to the firm and, as we have stated previously, GAMCO will
continue to seek RIA firms such as Petera??s to join our organization.a??

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 Catalysta?? style of investment.

Peter A. Tcherepnine to Join GAMCO Investors
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