• As of June 30, 2009, affiliates of Gabelli & Company have less than 1% ownership in Pepsico, Exxon Mobile Corp., American Water Work , Johnson & Johnson, and Wyeth
• The portfolio manager appearing in the webcast certifies that the views expressed in this webcast accurately reflect her personal views about the subject company.
• The portfolio manager has not been, and will not be receiving direct or indirect compensation for expressing the specific recommendation or view in this webcast.
• · Gabelli & Company and its affiliates may be seeking business from Pepsico, Exxon Mobile Corp., American Water Works , Johnson & Johnson, and Wyeth
• Neither the Portfolio Manager nor members of her household own shares of any of the companies presenting here today.
• · The Portfolio Manager has an indirect financial interest in, and exercises discretion over an account which holds shares of the above mentioned securities.

GAMCO Investors, Inc ("GAMCO") prepared this webcast as a matter of general information. We do not intend for this report to be a complete description of any security or company and it is not an offer or solicitation to buy or sell any security. All facts and statistics are from sources we believe to be reliable, but we do not guarantee their accuracy. We do not undertake to advise you of changes in our opinion or information. Unless otherwise noted, all stock prices reflect the closing price on the business day immediately prior to the date of this report. We do not use "price targets" predicting future stock performance. We do refer to "private market value" or PMV, which is the price that we believe an informed buyer would pay to acquire 100% of a company. There is no assurance that there are any willing buyers of a company at this price and we do not intend to suggest that any acquisition is likely. Additional information is available on request.