Original GBL Prospectus - Gabelli

Bros. from 1983 to 1984 and with Ernst & Young from 1979 to 1983. Mr. Zuccaro received a B.S. in
Accounting from C.W. Post College and is a CertiÑed Public Accountant.
Douglas R. Jamieson has served as Executive Vice President and Chief Operating OÇcer of GAMCO
since 1986 and as a director since 1991. Mr. Jamieson was an investment analyst with the Company from 1981
to 1986. Mr. Jamieson received a B.A. from Bucknell University and an M.B.A. from Columbia University
Graduate School of Business.
Bruce N. Alpert has served as Vice President and Chief Operating OÇcer of Funds Adviser since June
1988 and was appointed Executive Vice President and Chief Operating OÇcer of Funds Adviser on January 1,
1999. Mr. Alpert is an oÇcer of all of the Mutual Funds. Mr. Alpert is also a director of Gabelli Advisers, Inc.
Prior to June 1988 he worked at the InterCapital Division of Dean Witter from 1986 to 1988 as Vice President
and Treasurer of the Mutual Funds sponsored by Dean Witter. From 1983 through 1986 he worked at Smith
Barney Harris Upham & Co. as Vice President in the Financial Services Division and as Vice President and
Treasurer of Mutual Funds sponsored by Smith Barney. Mr. Alpert also was an Audit Manager and Specialist
at Price Waterhouse in the Investment Company Industry Services Group from 1975 through 1983.
Mr. Alpert received a B.S. in Management Science and an M.B.A. from Rensselaer Polytechnic Institute and
is a CertiÑed Public Accountant.
Charles C. Baum joined the Company's Board of Directors in October 1992. Mr. Baum has also served
since August 1992 as Chairman and Chief Executive OÇcer of The Morgan Group, Inc., a transportation
services company and subsidiary of Lynch Corporation, and as Treasurer of United Holdings Co., Inc. and its
predecessors and aÇliates since 1973. United Holdings Co., Inc. was involved in the metal business until 1990
when it shifted focus to concentrate on investments in real estate and securities. Mr. Baum is also a director of
United Holdings Co.; Shapiro Robinson & Associates, a Ñrm which represents professional athletes; and
Municipal Mortgage and Equity LLC, a company engaged in the business of mortgage Ñnancing. Mr. Baum
received an A.B. from Princeton University, an M.B.A. from Harvard Business School and an LLB from
Maryland Law School.
Richard B. Black originally joined the Company's Board of Directors in November 1982. He currently
serves as President and director of Oak Technology, Inc., an international supplier of semiconductors, as well
as Chairman and Director of ECRM, Incorporated, an international supplier of electronic imaging devices to
the publishing and graphic arts industries. Mr. Black also serves as a director of Benedetto, Gartland &
Greene, Inc.; General Scanning, Inc.; Grand Eagle Companies, Inc.; and The Morgan Group, Inc. Mr. Black
was Chairman and Chief Executive OÇcer of AM International, Inc. from 1981 to 1982; President and Chief
Executive OÇcer of Alusuisse of America (Swiss Aluminum of America) from 1979 to 1981; and Chairman
of the Board, President and Chief Executive OÇcer of Maremont Corporation, an automotive parts
manufacturer with world-wide distribution, from 1967 to 1979. Mr. Black received a B.S. in Engineering from
Texas A&M University and an M.B.A. from Harvard University, and he was awarded an Honorary Doctorate
of Humane Letters Degree from Beloit College.
Eamon M. Kelly joined the Company's Board of Directors in October 1992. Dr. Kelly is currently serving
as a Professor at the Payson Center for International Development and Technology Transfer as well as in other
departments at Tulane University, New Orleans. From 1981 through July 1998, he served as President and
Chief Executive OÇcer of Tulane University. From 1974 to 1979, Dr. Kelly served in numerous positions,
including OÇcer-in-Charge of Program Related Investments at the Ford Foundation, a philanthropic
organization with initiatives in community and housing development, communications and public television,
resources and environment, higher and public education, the arts and minority enterprises. Dr. Kelly's career
includes numerous appointments, most recently, the appointments by President Clinton in 1995 to the
National Science Board (the governing board of the National Science Foundation) and in 1994 to the
National Security Education Board. Dr. Kelly received a B.S. from Fordham University, and his M.S. and
Ph.D. in Economics from Columbia University.
Karl Otto P ohl joined the Company's Board of Directors in April 1998. Mr. P ohl is a member of the
Shareholder Committee of Sal Oppenheim Jr., & Cie., a private investment bank. Currently Mr. P ohl is a
director/trustee of all of the Mutual Funds and serves as a board member of Zurich Versicherungs-Gesellshaft
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