GAMCO Board Authorizes Additional 400,000 Shares for Stock Buyback

Business Wire, Nov 7, 2006

RYE, N.Y. -- GAMCO Investors, Inc. (NYSE: GBL) announced today that its Board of Directors authorized the repurchase of up to an additional 400,000 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 approximately 1,052,000 shares authorized and available for repurchase under GAMCO's stock repurchase program. GAMCO has repurchased 1,330,332 shares of its Class A Common Stock at an average investment of $40.89 per share in 2006 and a total of 4,964,958 shares at an average investment of $38.77 since the repurchase program began in 1999.

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 June 30, 2006, GAMCO had approximately $26.8 billion in assets under management.

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