GAMCO Global Opportunity Fund Adds Kevin Dreyer
and Anthony Fritz to Investment Team

Rye, NY
May 3, 2006
Contact :
Douglas R. Jamieson
Ph: (914) 921-5020

GAMCO Investors, Inc. (NYSE: GBL - News) named Kevin V. Dreyer and Anthony Fritz, CFA as Associate Portfolio Managers to the GAMCO Global Opportunity Fund investment team, an open-end fund started in May 1998. Mr. Dreyer and Mr. Fritz join Caesar Bryan who is the Fund's Portfolio Manager responsible for the day-to-day management of the fund, a role he has had since the inception of the fund.

Commenting on the appointments, Caesar Bryan said, "We are delighted to have Tony and Kevin on board and look forward to them contributing investment ideas to the Fund. They are hard-working analysts - Gabelli PHD's."

Kevin Dreyer joined Gabelli & Company, Inc. as a research analyst following the completion of his MBA at the Columbia University Graduate School of Business. He previously worked as an analyst at Banc of America Securities following his graduation from University of Pennsylvania.

Anthony Fritz, a graduate of the Columbia University Graduate School of Business, was formerly a portfolio manager at Wells Fargo Private Asset Management. Mr. Fritz earned his undergraduate degree at Claremont McKenna College.

This announcement was made following the resignation of Ivan Arteaga, CFA.

GAMCO Investors, Inc., through its subsidiaries, manages $27.6 billion of assets of private advisory accounts (GAMCO), mutual funds and closed-end funds (Gabelli Funds, LLC), and partnerships and offshore funds (Investment Partnerships).