Gabelli Funds LLC, the mutual funds division of GAMCO Investors, Inc. (NYSE: GBL - News), is
privileged to announce that Karl Otto Pohl will now serve as Director Emeritus of the Funds'
boards while retaining his seat on the GAMCO Investors, Inc. board.
One of the economic architects of modern Europe, Karl Otto Pohl served as president of the
German Bundesbank for over a decade from 1980 to 1991. He is one of the pre-eminent central
bankers of our time. Originally appointed by Chancellor Willy Brandt after a distinguished
career at the Ministry of Economics, he also was a board member for the Bank for International
Settlements, the German Governor for the International Monetary Fund and Chairman of the EEC
Central Bank of Governors in the early 1990's. In 1997, Mr. Pohl was named as a recipient of
the German financial monthly magazine, Manager Magazine's Hall of Fame award.
Karl Otto Pohl joined the board of the Gabelli Funds in 1992. He has now elected the emeritus
status in part to comply with Securities and Exchange Commission rules relating to "independent
directors" of mutual fund boards.
Commenting on Pohl's appointment, Mario Gabelli, Chairman of the Gabelli Funds Board of
Directors said, "Karl Otto has been an invaluable contributor and visionary for the boards of
Gabelli Funds. His quarterly briefings on global economic dynamics, the status of the dollar,
the introduction of the Euro and the growing importance of the economic power of the Tigers
in the world economy have been prescient. We value his counsel and welcome his ongoing
commitment to the parent company's board of directors."
GAMCO Investors, Inc., through its subsidiaries, manages approximately $27.6 billion in assets
of private advisory accounts (GAMCO), mutual funds and closed-end funds (Gabelli Funds, LLC),
and partnerships and offshore funds (Investment Partnerships).
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