GAMCO Investors, Inc. ("GAMCO") prepared this posting as a matter of general information. We do not
intend it to be a complete description of any security or company. All facts and statistics referenced
herein are from sources we believe to be reliable, but we do not guarantee their accuracy and it may be
incomplete or condensed. GAMCO makes no commitment to update this posting and it may remove it at anytime.
This posting is made available free of charge for all persons that may legally view this posting regardless
of whether you have a relationship with GAMCO or its affiliates. This posting does not constitute an offer
or solicitation to purchase or sell a security nor is it a research report. Individuals should consult
with a qualified financial professional before making any investment decisions.
The views of the analyst are subject to change at any time based on market and other conditions. The
information in this posting represents the opinions of the individual analyst and is not intended to be
a forecast of future events, a guarantee of future results, or investment advice. Views expressed are
those of the analyst and may differ from those of other analysts or of GAMCO.
- As of January 31, 2008, affiliates of Gabelli & Company had less than 1% percentage of
ownership in Exelon Corp. and FPL Group.
- The analyst appearing in the webcast certifies that the views expressed in this webcast
accurately reflect his personal views about the subject company.
- The analyst 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 Exelon Corp. and FPL Group.
- Neither the analyst nor members of his household own shares of any of the companies presenting
here today.
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.
Because the portfolio managers at our affiliates make individual investment decisions with respect to the
client accounts they manage, these accounts may have transactions inconsistent with the recommendations in
this report. These portfolio managers may know the substance of our research reports prior to their publication
as a result of joint participation in research meetings or otherwise. The analyst who wrote this report may
receive commissions from customers' transactions in the securities mentioned in this report.