GABELLI NAMES GINO TORRETTA, HEISMAN TROPHY WINNER FROM UNIVERSITY OF MIAMI, TO INSTITUTIONAL SALES EFFORT

FOR IMMEDIATE RELEASE
Rye, NY
February 24, 2004
  Contact:
Doug Jamieson, Gabelli - (914) 921-5020
Brian Ruby, Emmanuel Kerr Kilsby - (203) 406-8800 ext. 11



Gino Torretta, the University of Miami quarterback who won the Heisman Trophy in 1992, has joined the institutional and high net worth marketing team (GAMCO) of Gabelli Asset Management. Gabelli Asset Management Inc. (NYSE:GBL) manages more than $28 billion in assets of mutual funds, closed end funds, partnerships and private advisory accounts.

Mr. Torretta, who played professional football as quarterback from 1993 to 1997, was a senior financial advisor for Wachovia Securities before joining Gabelli. He will focus on institutional prospects representing unions and private foundations, and will report to Doug Jamieson, GAMCO's chief operating officer.

"Gino adds great depth to our marketing resources. He is a sports legend, an active member of the Florida community and a gifted financial executive," according to Mr. Jamieson. "We expect this combination of talents to rapidly increase our client base in this area," he said.

Mr. Torretta, who will be based in the firm's Florida office, won the Johnny Unitas Golden Arm award for top senior collegiate quarterback in 1992 and was inducted into the University of Miami Sports Hall of Fame in 2003. He graduated from Miami in 1992 with a BA Degree in business and management, and was a member of the university's Pi Kappa Alpha fraternity chapter.

A co-founder of the Torretta Foundation, he played quarterback for the Minnesota Vikings, Detroit Lions, San Francisco 49ers, Seattle Seahawks and Indianapolis Colts.