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The Board of Directors of The Gabelli Convertible Securities Fund, Inc. (NYSE - GCV) declared
a $0.21 per share cash distribution payable on December 24, 2001 to common stock shareholders
of record on December 14, 2001, pursuant to the Gabelli Convertible Securities Fund's 8%
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 an adjusting 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, Inc. is a closed-end, diversified management investment
company with $110 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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