Nicholas F. Galluccio named by GAMCO Investors As President & C.E.O. of Teton Advisors,...

Nicholas F. Galluccio named by GAMCO Investors As President & C.E.O. of Teton Advisors, Inc.

RYE, N.Y.--(Business Wire)--
GAMCO Investors, Inc. (NYSE: GBL) today named Nicholas F.
Galluccio, President & CEO of Teton Advisors, Inc. a subsidiary of
GAMCO Investors, Inc., effective July 1. GAMCO announced earlier that
the Board of GAMCO Investors, Inc. has approved the distribution of
Teton to shareholders of GAMCO subject to legal and regulatory
requirements. Teton Advisors, Inc. is the adviser to six open-end
mutual funds under the GAMCO Westwood brand.

Nick Galluccio stated, "I look forward to taking the helm at
Teton. The GAMCO Westwood Funds have a five star reputation for
delivering returns to their shareholders. We look forward to building
a team to distribute and to grow the assets under management and
create value for all our constituents."

Bruce N. Alpert, Chairman of Teton Advisors, Inc. welcomed the
addition of Nick Galluccio to Teton. "Nick brings a wealth of
knowledge and experience to managing portfolios and building a
business. In addition to growing Teton, shareholders of the GAMCO
Westwood Small Cap Fund will get a manager who has a long track record
of generating returns for investors.

Mr. Galluccio was formerly with Trust Company of the West where he
served as the Group Managing Director, U.S. Equities and Senior
Portfolio Manager for $4.5 billion in assets in the TCW Small Cap
Value Added Funds and TCW Mid Cap Value Opportunities Funds. Mr.
Galluccio's career with TCW spans over a quarter of a century, having
joined TCW in 1982 from Lehman Brothers Kuhn Loeb where he was a
security analyst following the semiconductor industry. Mr. Galluccio
is a former staff writer at Forbes magazine where he wrote an
investment column on investment management. Mr. Galluccio holds an
M.B.A. from Columbia Business School and an M.A. from Columbia
University and a B.A. from University of Hartford. He is on the board
of regents at University of Hartford and is on the Board of Trustees
at St. Luke's School in New Canaan, Connecticut.

GAMCO Investors, Inc., through its subsidiaries, manages $28.7
billion in assets of private advisory accounts (GAMCO), mutual funds
and closed-end funds (Gabelli Funds, LLC), and partnerships and
offshore funds (Investment Partnerships).

GAMCO Investors, Inc.
Douglas Jamieson, 914-921-5020
President, Chief Operating Officer
www.gabelli.com

Copyright Business Wire 2008