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The Gabelli Convertible and Income Securities Fund Inc. (the "Fund") is pleased to announce the
completion of its Rights Offering whereby holders of three Rights were entitled to purchase one
newly issued Share of Common Stock of the Gabelli Convertible and Income Securities Fund at the
Subscription Price of $8.00 per share.
The Fund received subscriptions for over twice the 2,763,961 shares available to be issued. The
subscriptions totaled $53 million of which $22 million will be retained and the balance representing
overpayment returned to investors. Approximately 76% of the shares were subscribed for pursuant to
the primary subscription. Shares subscribed for in the over-subscription privilege are allocated
on a pro rata basis in the manner described in the Fund's Prospectus for the Rights Offering. It is
anticipated that shares subscribed for in the primary subscription will be delivered on or about
December 27, 2002. Shares to be issued pursuant to the over-subscription privilege will be delivered
on or about December 30, 2002.
We would like to thank all of the full service brokers who assisted shareholders in this Offering
without receiving a commission. Additionally, we would like to thank all of our subscribing shareholders.
The Gabelli Convertible and Income Securities Fund Inc. is a closed-end, diversified management
investment company with $108 million in total assets, after giving effect to the full subscription
of the Rights Offering, 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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