William C. Greenman appointed to Palm Beach Office

Gabelli Asset Management Announces the Appointment of
William C. Greenman to Palm Beach Office

FOR IMMEDIATE RELEASE
Palm Beach, Fla.
July 15, 1999

For information:
Gerald Mathison
(561) 671-2100

Gabelli Asset Management Inc. (NYSE: GBL), a widely recognized provider of investment services to mutual funds, institutional and high net worth investors, announced the addition of William C. Greenman, Jr. at Gabelli Asset Management Company's (GAMCO) Palm Beach office. Gabelli Asset Management Company is a wholly owned subsidiary of Gabelli Asset Management Inc.

Mr. Greenman will work with general manager Gerald F. Mathison, a senior vice president of the Gabelli organization to develop the marketing of the firm's products in the southeast. Bill Greenman is a lifelong resident of the Palm Beach area and attended The Benjamin School. Since graduating from Stetson University in Deland in 1991, Bill earned an MBA from the University of Miami.

On making the announcement, Joseph R. Rindler, Jr., Chairman of GAMCO stated, "We are particularly pleased with Bill joining our Palm Beach office. He is an outstanding addition to our team and he will bolster Gerry Mathison's sales and client service efforts." Prior to joining us, Mr. Greenman focused his career in the financial services industry, working at Prudential Financial Services, PaineWebber and Sanford C. Bernstein & Co.

Founded in 1977 as a broker/dealer, Gabelli Asset Management currently has over $19 billion of assets under management in mutual funds, separate accounts and partnerships. The firm is headquartered in Rye, N.Y.