GABELLI TO HOST CONFERENCE ON THE ROLE OF
DIVIDENDS IN INVESTMENT DECISIONS

FOR IMMEDIATE RELEASE
April 21, 2003
For information:
Marissa Avansino
(914) 921-5345
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Gabelli Asset Management Inc. (NYSE: "GBL") will host a conference on Dividends and their role in investment decisions on April 22 at the Museum of Television & Radio (25 West 52nd Street) in New York City. Beginning at 8:30 am, the half-day symposium, “Dividends: Taxable or Non-Taxable?”, follows a Gabelli tradition of sponsoring meetings on topics that impact investor strategy. Past topics have included Active vs. Passive stock selection, The Role of Hedge Funds as a Way of Generating Absolute Returns and, in 2001, a conference extolling the virtues of Value Investing.

Meyer Feldberg, Dean of Columbia Graduate School of Business, is scheduled to introduce Professor Bruce C.N. Greenwald, the Robert Heilbrunn Professor of Finance at Columbia Graduate School of Business, who will set the stage for debate by discussing the role of dividends in determining both cost of capital, as well as their importance in generating long-term returns for equity owners. He will then introduce R. Glenn Hubbard, formerly Chairman of the President’s Council of Economic Advisers, and Martin J. Whitman, Chairman and Co-Chief Investment Officer of Third Avenue Management LLC, to debate the implications that dividends have for the markets and the economy.

Lawrence A. Kudlow, CEO of Kudlow & Co. and co-host of CNBC’s “Kudlow & Cramer”, will moderate a panel of investment strategists to discuss the issue of dividend taxation. Panelists include Steven M. Galbraith, Chief Investment Strategist at Morgan Stanley, Clifford S. Asness, Founder of AQR Capital Management, and Andrew J. Kessler, Co-Founder and President of Velocity Capital Management.

The conference will conclude with a panel of prominent portfolio managers who are responsible for running funds where dividends are a focal point of investment decision making. Moderated by Russel Kinnel, Director of Mutual Fund Analysis for Morningstar, Inc., the panel includes Jeb B. Doggett of Casey, Quirk & Acito, LLC, Brian C. Rogers of T. Rowe Price, David J. Winters of Franklin Mutual Advisers, and Mario J. Gabelli of Gabelli Asset Management.

Gabelli Asset Management Inc., through its subsidiaries, manages more than $20 billion in assets of mutual funds and closed-end funds (Gabelli Funds, LLC), partnerships (Alternative Investment Group) and private advisory accounts (GAMCO).