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Gabelli Asset Management Inc. (NYSE: "GBL") said today that it expects to report record results
for the second quarter and six months ended June 30, 2001. It further announced that these
results will meet or exceed current consensus earnings estimates of $0.50 per share for the
second quarter.
Assets under management on June 30, 2001 were approximately $25.6 billion, 8% ahead of the prior
quarter end assets of $23.7 billion and up 10% from year earlier assets under management of
$23.3 billion. This growth underscores the diversification in the assets entrusted to us between
growth and value styles of investment as well as the mix of our client base among high net worth,
institutional, mutual fund and alternative investments.
The Company expects to report more information in its earnings release next week.
Gabelli Asset Management Inc., through its subsidiaries, provides investment advisory and
brokerage services to mutual fund, institutional and high net worth investors through a broad
range of open and closed-end mutual funds, partnerships and separate advisory accounts.
FORWARD LOOKING INFORMATION
This press release contains forward-looking statements about future operations, results and
performance, which involve risks and uncertainties that may cause the actual operations, results
or performance to differ materially from those expressed in or implied by the forward-looking
statements. These risks and uncertainties include the performance of the securities markets and
the Company's investment products, future economic conditions, changes in business strategy and
other factors. Consequently, no assurance can be given as to future operations, results or
performance, and neither the Company nor any other person assumes liability for the accuracy and
completeness of the forward-looking statements in this press release.
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