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General American Investors Reports Net Assets As Of March 31, 2012

General American Investors Company, Inc., a closed-end investment company listed on the New York Stock Exchange (GAM), reported net assets applicable to the Company’s common stock as of March 31, 2012 of $987,992,055 as compared with net assets applicable to its common stock of $886,537,370 at December 31, 2011. The value at March 31, 2012 reflects an increase in net assets resulting from operations for the three month period then ended of $117,487,714 and a decrease of $16,033,029 reflecting the cost of repurchasing 587,157 shares of the Company’s common stock.

The first quarter report indicates that as of and for the three months ended:

        3/31/12   3/31/11
 
Net Assets Applicable to Common Stock $987,992,055 $1,003,834,212
Per Common Share $33.86* $33.01
 
Net Investment Loss ($201,682) ($79,306)
Per Common Share ($0.01)
 
Net Gain on Investments $120,517,389 $56,227,497
Per Common Share $4.19 $1.84
 
Common Shares Outstanding 29,179,232 30,408,219
 
Dividends and Distributions to Preferred Stockholders $2,827,993 $2,827,993
Per Common Share $0.10 $0.09
 
*After dividend and distribution of $0.50 per share paid in December 2011.

The five largest stock holdings in the Company’s portfolio at March 31, 2012 included The TJX Companies, Inc.; QUALCOMM Inc.; Epoch Holding Corp.; Costco Wholesale Corp.; and Diageo plc ADR.

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