GAMCO Global Telecom Adds Sergey Dluzhevskiy
as Associate Portfolio Manager

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

GAMCO Investors, Inc. (NYSE: GBL) named Sergey Dluzhevskiy, CPA as Associate Portfolio Manager for The GAMCO Global Telecommunications Fund. Mr. Dluzhevskiy joins Mario J. Gabelli, the Portfolio Manager of this $187 million fund, and Evan Miller, who is also an Associate Portfolio Manager of the Fund.

Commenting on the appointment, Mario J. Gabelli said, "We are pleased with the contributions Sergey has made since joining the firm. We expect that he will provide valuable investment ideas to the Fund portfolio in the future."

Sergey Dluzhevskiy, a native of the Ukraine, was a senior accountant at Deloitte & Touche prior to attending the Wharton School, University of Pennsylvania where he received his MBA in Finance and Accounting. He completed his undergraduate studies at Case Western Reserve University.

The 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).