Agnes Mullady Joins Gabelli Funds LLC as Chief Financial Officer.

RYE, N.Y. -- GAMCO Investors, Inc. (NYSE:GBL) announced today that Agnes Mullady has joined Gabelli Funds, LLC, the mutual funds division of GAMCO, as Chief Financial Officer.

Commenting on Ms. Mullady's appointment, Bruce N. Alpert, Chief Operating Officer of Gabelli Funds, said, "Agnes is a welcome addition to our management team as we position our mutual funds for growth over the next five years. She has superb credentials in the mutual fund administration, compliance and accounting fields. Her wealth of experience will serve us well in the years ahead."

Ms. Mullady has nearly twenty years of experience in mutual fund treasury operations, having been associated with such firms as the Reserve Management Corporation and Northstar Investment Management Corporation. Most recently, Ms. Mullady was a Senior Vice President at U.S. Trust Company, N.A., where she served as the Treasurer, Chief Financial and Chief Accounting Officer since February 2004 with the Excelsior Funds complex, which includes 29 mutual funds with over $15 billion in assets under management.

A resident of Fairfield County, Connecticut, Agnes Mullady graduated with an accounting degree from Queens College, New York and has an MBA in Finance from the New York Institute of Technology.

GAMCO Investors, Inc., through its subsidiaries, manages approximately $27.6 billion in assets of private advisory accounts (GAMCO), mutual funds and closed-end funds (Gabelli Funds, LLC), and partnerships and offshore funds (Investment Partnerships).