GAMCO Investors names Terrence P. Clancy C.O.O. of investment partnership group

GAMCO Investors, Inc. (NYSE: GBL) today named Terrence P. Clancy, Chief Operating Officer of Gabelli & Partners, a wholly owned subsidiary of Gabelli Securities, Inc., which focuses on alternative investments.

Commenting on his appointment, Doug Jamieson said, “We are delighted to have an individual of Terry’s background to head up the investment partnership business. Terry has an in-depth
understanding of the industry and will be instrumental in contributing to the acceleration of the growth of our hedge fund group.”

Terry Clancy stated, “I look forward to working with Gabelli. The firm has a reputation for delivering consistent returns to its partners. We look forward to gaining traction for this great investment firm with over thirty years of delivering alpha to its partners.”

Mr. Clancy was formerly with Citigroup Asset Management (CAM), where he served on the CAM
Management Committee and as a Director and Deputy CFO, since 2004. Prior to joining CAM, Mr. Clancy was with Merrill Lynch & Company, where he held several positions in the Private Client Group prior to becoming Chief of Staff for the CEO. Mr. Clancy was previously with JP Morgan & Company for eleven years in a variety of financial and accounting roles. A CPA, Mr. Clancy joined Arthur Young & Company following graduation from Notre Dame with a BBA in Accountancy.

As of June 30, 2006 GAMCO Investors, Inc., through its subsidiaries, managed $26.8 billion in assets of private advisory accounts (GAMCO), mutual funds and closed-end funds (Gabelli Funds, LLC), and partnerships and offshore funds (Investment Partnerships).

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