RYE, N.Y.–(BUSINESS WIRE)–GAMCO Investors, Inc. (GAMCO) (NYSE:GBL) today announced that following
the expiration of its offer to purchase for cash up to US$100 million
aggregate principal amount of its outstanding 5.875% Senior Notes due
June 1, 2021 (the “Notes”), $75,775,000 of the Notes were tendered
pursuant to the Offer.

The Offer, which commenced and is dated November 18, 2015, expired at
5:00 p.m., New York City time on December 28, 2015.

GAMCO Investors, Inc., through its subsidiaries, manages private
advisory accounts (GAMCO Asset Management Inc.), mutual funds and
closed-end funds (Gabelli Funds, LLC). As of September 30, 2015, GAMCO
had $39.6 billion in assets under management.

This press release is neither an offer to purchase nor a solicitation to
buy any of these Notes nor is it a solicitation for acceptance of the
Offer. GAMCO made the Offer only by, and pursuant to the terms of, the
Offer to Purchase. The Offer was not made to (nor were tenders of Notes
accepted from or on behalf of) holders of Notes in any jurisdiction in
which the making or acceptance thereof would not be in compliance with
the securities, blue sky or other laws of such jurisdiction. This
announcement must be read in conjunction with the Offer to Purchase.

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

The financial results set forth in this press release are preliminary.
Our disclosure and analysis in this press release, which do not present
historical information, contain “forward-looking statements” within the
meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements convey our current expectations or forecasts
of future events. You can identify these statements because they do not
relate strictly to historical or current facts. They use words such as
“anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,”
“believe,” and other words and terms of similar meaning. They also
appear in any discussion of future operating or financial performance.
In particular, these include statements relating to future actions,
future performance of our products, expenses, the outcome of any legal
proceedings, 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, the
economy and other conditions, there can be no assurance that our actual
results will not differ materially from what we expect or believe.
Therefore, you should proceed with caution in relying on any of these
forward-looking statements. They are neither statements of historical
fact nor guarantees or assurances of future performance.

Forward-looking statements involve a number of known and unknown risks,
uncertainties and other important factors, some of which are listed
below, that are difficult to predict and could cause actual results and
outcomes to differ materially from any future results or outcomes
expressed or implied by such forward-looking statements. Some of the
factors that could cause our actual results to differ from our
expectations or beliefs include a decline in the securities markets that
adversely affect our assets under management, negative performance of
our products, the failure to perform as required under our investment
management agreements, a general downturn in the economy that negatively
impacts our operations. We also direct your attention to the more
specific discussions of these and other risks, uncertainties and other
important factors contained in our Form 10-K and other public filings.
Other factors that could cause our actual results to differ may emerge
from time to time, and it is not possible for us to predict all of them.
We do not undertake to update publicly any forward-looking statements if
we subsequently learn that we are unlikely to achieve our expectations
whether as a result of new information, future developments or
otherwise, except as may be required by law.