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The Board of Directors of The Gabelli Convertible Securities Fund, Inc. (NYSE - GCV), at a meeting
held on February 16, 2000, authorized a $0.20 per share cash distribution payable on March 27, 2000
to Common Shareholders of record on March 17, 2000, pursuant to the Gabelli Convertible Securities
Fund's 8% annual distribution policy. Long term capital gains, if any, will be included on a pro-rata
basis in all distributions throughout the year.
Under the Convertible Securities Fund's payout policy, the Fund will pay out a minimum annual
distribution of 8% of the average net asset value of the Fund. The Fund will pay $0.20 per share in
each of the first three quarters of the year and a distribution in the fourth quarter of a sufficient
amount to pay 8% of the average net asset value of the Fund, as of the last day of the four preceding
calendar quarters, or to satisfy the minimum distribution requirements of the Internal Revenue Code,
whichever is greater.
The Gabelli Convertible Securities Fund is a closed-end, diversified management investment company with
$120 million in total assets whose primary investment objective is to seek a high level of total return
through a combination of current income and capital appreciation by investing primarily in convertible
securities.
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