Prior to joining Gabelli in 1998, David Schachter worked for Thomas J. Herzfeld Advisors. Herzfeld is a recognized authority specializing in closed-end funds. Mr. Schachter wrote for his publication, The Investor’s Guide To Closed-End Funds. He has also attended closed-end fund annual meetings and is familiar with the management’s as well as the activists in the industry. In 1978 Mr. Schachter began working on Wall Street as a registered representative for Laidlaw, Adams and Peck before joining Drexel Burnham where he began to closely follow closed-end funds. Prior to joining Thomas J. Herzfeld Advisors Inc. in 1994 he worked for Smith-Barney in New York, where he specialized in closed-end funds. He has made several appearances on CNBC and CNN, and is frequently quoted in newspapers and magazines on topics related to closed-end funds. Mr. Schachter has also produced several educational brochures and videos on closed-end funds and has promoted them , emphasizing improved information dissemination. He attended Queens College where he received a BA degree and earned a Master of Arts from New York University. He is a NASD representative.

DSchachter@gabelli.com

(914) 921-5057