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The Board of Directors of The Gabelli Convertible Securities Fund, Inc. (NYSE - GCV) authorized
a $0.43 per share distribution payable on December 27, 1999 to Common Shareholders of record on
December 17, 1999, pursuant to the Convertible Securities Fund's 8% Distribution Policy.
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.
Long-term capital gains and ordinary income will be allocated to all distributions for the year.
The final determination of the source of all distributions in 1999 will be made after year-end.
All shareholders will receive written notification regarding the components and tax treatment of
all 1999 distributions in early 2000 via form 1099-DIV.
The Gabelli Convertible Securities Fund is a closed-end, diversified management investment company
with $123 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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