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Gabelli Asset Fund Expands Investment Team With Jeff Jonas, CFA Named Associate Portfolio Manager

Effective October 1, 2012, GAMCO Investors, Inc. (NYSE:GBL) announces the addition of Jeffrey J. Jonas, CFA to the investment team of The Gabelli Asset Fund. Mr. Jonas joins portfolio manager Mario J. Gabelli, manager of the Fund since its inception on March 3, 1986, and associate portfolio managers, Kevin V. Dreyer, and Christopher J. Marangi as it continues to expand its investment team.

Commenting on the appointment, Mr. Gabelli said, “We are delighted to have Jeff join the Asset Fund team. Jeff has an excellent foundation in Graham & Dodd fundamental research that will make him a valuable addition to help our team find suitable companies that meet the objectives of (y)our Fund.”

Mr. Jonas started his career with Gabelli & Company, Inc. in July 2003 as a research analyst covering the healthcare sector, focusing on the medical device and service sectors. In 2007, Mr. Jonas was named an Associate Portfolio Manager of the Gabelli Healthcare & Wellness Rx Trust. In April 2012, Mr. Jonas was named a Portfolio Manager of the Gabelli Dividend & Income Trust. Mr. Jonas graduated as a Presidential Scholar from the Carroll School of Management at Boston College with a B.S. in finance and management information systems.

The Gabelli Asset Fund is a diversified open-end investment company investing in primarily common and preferred stocks with $2.8 billion in total net assets. The Fund’s primary investment objective is growth of capital with current income as a secondary objective.

GAMCO Investors, Inc. (NYSE:GBL), through its subsidiaries, manages assets of private advisory accounts (GAMCO), mutual funds and closed-end funds (Gabelli Funds, LLC), and partnerships and offshore funds (Investment Partnerships) and is known for its Private Market Value with a Catalyst™ style of investment. As of June 30, 2012, GAMCO Investors, Inc. had $35.7 billion in assets under management.

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