GAMCO Investors, Inc. (NYSE: GBL - News) today announced the election of Eugene R. McGrath, former
Chairman and Chief Executive Officer of Consolidated Edison, Inc., to its Board of Directors.
Mr. McGrath, 64, has been associated with Con Edison since 1963. He served as Chairman, President
and Chief Executive Officer from October 1997 until September 2005 and Chairman until February 2006.
He has served as Chairman and Chief Executive Officer of Con Edison's subsidiary, Consolidated Edison
Company of New York, Inc., since September 1990.
Mario J. Gabelli, Chairman and Chief Executive Officer of GAMCO Investors, Inc., said, "We are
delighted to have Gene McGrath on the Board of Directors. His knowledge and perspective built through
his career at Con-Ed will serve our shareholders well."
In commenting on his election, Mr. McGrath said, "I am pleased to join the Board and look forward to
working with Mario Gabelli and his team to further the interests of GAMCO Investors' shareholders."
Mr. McGrath is a Director of Consolidated Edison, Inc., AEGIS Insurance Services, Atlantic Mutual
Insurance Services, Schering-Plough, Manhattan College, The Economic Club of New York, The Wildlife
Conservation Society and is on the Advisory Board of Braemar Energy Ventures.
Mr. McGrath earned a degree in Mechanical Engineering from Manhattan College and an MBA from Iona
College. He completed the Advanced Management Program at Harvard University.
GAMCO Investors, Inc., through its subsidiaries, manages private advisory accounts (GAMCO Asset
Management Inc.), mutual funds and closed-end funds (Gabelli Funds, LLC), and partnerships and offshore
funds (Gabelli Securities, Inc.). As of September 30, 2006, GAMCO had approximately $26.6 billion in
assets under management.