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The Board of Directors of The Gabelli Convertible and Income Securities Fund Inc. (NYSE - GCV)
declared a $0.408333 per share initial cash distribution payable on June 26, 2003 to Preferred
Shareholders of record on June 19, 2003.
The Preferred Shares, which trade on the New York Stock Exchange under the symbol "GCV Pr B", are
rated 'Aaa' by Moody's Investor Services and have an annual dividend rate of $1.50 per share. The
1,000,000 Preferred Shares were issued on March 18, 2003 at $25.00 per share and will pay distributions
quarterly. This initial distribution represents the accrual period from March 18, 2003 through
June 26, 2003.
A portion of this distribution may be treated as long-term capital gains. This has the effect of
providing individual shareholders with an ordinary income tax equivalent yield that is higher than
the current yield. Any long-term capital gains will be allocated on a pro-rata basis to all
distributions for the year. The final determination of the source of all distributions in 2003 will
be made after year-end.
The Gabelli Convertible and Income Securities Fund Inc. is a closed-end, diversified management
investment company with $150 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. The Fund
is managed by Gabelli Funds, LLC, a subsidiary of Gabelli Asset Management Inc. (GBL - NYSE), which
is a publicly traded NYSE listed company.
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