Commenting on Ms. Stuebe.'s and Mr. Fenton's appointment, Douglas Jamieson, C.O.O. of GAMCO Investors, Inc. said, "We are delighted to have the depth of talent and experience that Nancy and Josh bring to the management of this portfolio. Nancy Stuebe has a solid background as a security analyst and portfolio manager. Her experience as a founding partner of the convertible bond firm, Advent Capital, coupled with a portfolio management background at William D. Witter and Oppenheimer Funds will prove invaluable. In addition, Josh's role as the director of buy side research places him directly in the information flow for uncovering new ideas for the fund."

Also on the investment management team is Mario J. Gabelli, who has guided GAMCO's convertible strategy since the firm's founding in 1977 and the launch of the Gabelli Convertible and Income Securities Fund (NYSE: GCV) since its inception on July 3, 1989 and through its conversion to a closed end fund on March 31, 1995.

A. Hartswell Woodson, III who joined the firm in 1993 will join a hedge fund effective March 1, 2006. Mr. Woodson had been primarily responsible for the Global Convertible Securities Fund since its inception on February 3, 1994. Ms. Stuebe originally joined Gabelli in 1990 as an analyst directly from Columbia University Graduate School of Business, where she earned her MBA. Ms. Stuebe completed her undergraduate degree at Wellesley College, where she was awarded a Bachelor of Arts in Economics & English. Ms. Stuebe continues as the Associate Portfolio Manager of the Gabelli Small Cap Growth Fund, a position she has held since May 2005 when she re-joined the firm. Mr. Fenton, in addition to his research capacity, is a co-portfolio manager of the Gabelli Global Gold, Natural Resources and Income Trust, a closed-end investment company (ASE:GGN). Mr. Fenton is also a graduate of Columbia University's Graduate School of Business. Mr. Fenton originally joined Gabelli in 1991, following his graduation from Yale University where he earned a BA in Economics.

GAMCO Investors, Inc., through its subsidiaries, manages approximately $26.8 billion in assets of private advisory accounts (GAMCO), mutual funds and closed-end funds (Gabelli Funds, LLC), and partnerships and offshore funds (Investment Partnerships).