Board of Directors Unanimously Determines that Proposal Grossly Undervalues the Company

AUSTIN, Texas–(BUSINESS WIRE)–Temple-Inland Inc. (NYSE: TIN) announced today that it received an unsolicited proposal from International Paper Company (NYSE: IP) to acquire the Company for $30.60 per Temple-Inland share in cash. Temple-Inland’s Board of Directors, after careful consideration with its independent financial and legal advisors, voted unanimously to reject International Paper’s proposal after the Board determined unanimously that the proposal grossly undervalues Temple-Inland and is not in the best interest of Temple-Inland’s stockholders.

“As the economic recovery continues and the benefits from our strategy continue to be realized, it is the stockholders of Temple-Inland who should gain from those anticipated benefits, not the stockholders of IP.”

The Board authorized Doyle R. Simons, Chairman and CEO of Temple-Inland, to communicate its rejection to John Faraci, International Paper’s Chairman and CEO. A copy of Mr. Simons’s letter to Mr. Faraci is incorporated into this news release.

“Since we launched the ‘new’ Temple-Inland in January 2008, we have delivered superior results to our stockholders compared with our corrugated packaging peers (including IP), building products peers, and the S&P 500. since that time, our total return to stockholders of 22% greatly exceeds the 5% total return that IP has achieved. Through our proven ability to execute our strategy focused on maximizing return on investment (ROI) and profitably growing our business, the Board believes the Company will continue to provide superior results for our stockholders,” said Mr. Simons. “As the economic recovery continues and the benefits from our strategy continue to be realized, it is the stockholders of Temple-Inland who should gain from those anticipated benefits, not the stockholders of IP.”

in its review of International Paper’s unsolicited proposal, the Temple-Inland Board considered a number of factors and came to the following conclusions:

• International Paper’s unsolicited proposal grossly undervalues Temple-Inland and its future prospects:
  • Based on the Company’s internal estimates, as well as Wall Street consensus estimates, the Board believes the Company’s accelerating growth of earnings and ROI will result in superior value to that offered by International Paper in a sale transaction.
  • International Paper’s claims about its proposal rely on valuation metrics from “precedent” transactions that involved underperforming assets that are not comparable to Temple-Inland and its industry-leading returns, high-quality assets and low-cost structure.
  • The retrospective focus of these “comparables” does not take account of the profound changes that are occurring in the corrugated packaging industry, which have led to reduced pricing volatility, higher average prices, and widely-held expectations that these positive industry trends will continue.
  • The proposal fails to reflect the significant value the Company’s box plant transformation II project will generate for Temple-Inland and its stockholders.
  • International Paper overstates the Company’s actual net debt by $91 million and the net present value of our timber financing liability by at least $200 million.

• The timing of International Paper’s unsolicited proposal is extremely opportunistic and disadvantageous to Temple-Inland stockholders:
  • Housing markets are at historically low levels, temporarily depressing the value of our building products operations. International Paper is attempting to take advantage of our stockholders by moving to grab the Company at a bargain price at a time when there is little or no market value being ascribed to building products.
  • as International Paper has consistently highlighted to the investment community, corrugated packaging demand remains below prerecession levels, but is expected to recover as the economy continues to improve. International Paper is attempting to time its offer before corrugated packaging demand returns to prerecession levels and pricing improves as expected by industry analysts.
  • an estimated $90 million of the annual cost savings from our box plant transformation II are still ahead of us – our stockholders, not the stockholders of International Paper, deserve to receive the benefit of the significant capital we have invested in this project.
• The potential acquisition will likely face prolonged and rigorous investigation by antitrust authorities and an uncertain outcome:
  • A combined company would control an almost 40% share of North American containerboard capacity.
  • Given the expected scrutiny by U.S. antitrust authorities, it is likely that a potential transaction would require a significant amount of time to complete, even under the most favorable circumstances.

A presentation providing additional information about Temple-Inland and the reasons the Temple-Inland Board rejected International Paper’s proposal will be posted in the Investor Relations section of our website and filed with the SEC.

Goldman, Sachs & Co. is acting as financial advisor to Temple-Inland, and Wachtell, Lipton, Rosen & Katz is acting as Temple-Inland’s legal counsel.

The text of Mr. Simons’s June 4, 2011 letter to Mr. Faraci is set forth below:

Dear John:

The Board of Directors of Temple-Inland has received your letters dated May 19 and May 27, 2011 containing IP’s proposal to acquire all of the outstanding shares of Temple-Inland for $30.60 per share in cash. The Board has also considered the additional information you provided me at our meeting held at your request on May 26. Earlier today, the Temple-Inland Board of Directors convened and carefully reviewed your company’s proposal with the assistance of its financial advisor, Goldman, Sachs & Co., and its legal counsel, Wachtell, Lipton, Rosen & Katz. After thorough consideration, it is the unanimous view of the Temple-Inland Board of Directors that your unsolicited proposal grossly undervalues Temple-Inland and its future prospects. Accordingly, the Temple-Inland Board unanimously rejects IP’s proposal of $30.60 per share.

Since we launched the “new” Temple-Inland in January 2008, we have delivered superior results to our stockholders compared with our corrugated packaging peers (including IP), building products peers, and the S&P 500. Since that time, our total returns to stockholders of 22% greatly exceed the 5% total return that IP has achieved. Through our proven ability to execute our strategy focused on maximizing return on investment (ROI) and profitably growing our business, the Board believes the Company will continue to provide superior results for our stockholders.

A key part of our strategy is to maximize ROI, because we believe ROI is fundamental to driving stockholder value. In corrugated packaging, we generated record ROI of 16.5% in 2009 and 2010 and are positioned to generate significantly higher levels of ROI in 2011 and beyond due to fundamental changes in the industry and benefits from our box plant transformation. Indeed, we are now achieving the highest returns on assets in the corrugated packaging industry. Despite the worst housing markets since the great Depression, our low-cost building products operation has continued to generate positive cash flow throughout the downturn and is positioned to generate very high levels of return for our stockholders when housing markets recover. As the economic recovery continues and the benefits from our strategy continue to be realized, it is the stockholders of Temple-Inland who should benefit from our company’s very strong prospects, not the stockholders of IP.

We take issue with a number of claims in the materials you have provided to us. You have overstated our net debt by $91 million (which was $737 million as of March 31, 2011, rather than the $828 million stated in your proposal) and the net present value of our timber finance liability by at least $200 million. More significantly, the “comparable” transactions you cite are simply not comparable — those transactions involved troubled or struggling companies or operations rather than a company such as Temple-Inland with its industry-leading returns, high-quality assets and low-cost structure. Further, the retrospective focus of these “comparables” does not take account of the profound changes that are occurring in the corrugated packaging industry, which have led to reduced pricing volatility, higher average prices and widely-held expectations that these positive industry trends will continue.

Your own public statements acknowledge the changes in the industry and make clear that “looking back at history” is not the correct way to understand the corrugated packaging industry’s future. If, as you so clearly state, the past is not prologue for your company, neither is it for ours. We believe that it is for this reason that your letter of May 27 insistently says “Timing and speed are important,” and you have threatened us with a hostile bid if we do not respond by your deadline. The speed that is “important” to you underscores an opportunistic attempt to deprive our stockholders of the value in their company that we believe will become increasingly evident as the benefits of profound change in the corrugated packaging industry, Box Plant Transformation II and our extremely low-cost building products business accrue to the benefit of our stockholders. Finally, the “certain” value you refer to overlooks the serious regulatory issues of your proposal, an attempt to forcibly combine the #1 and #3 participants in the corrugated packaging industry with the result that your company would have an approximate 40% share of industry capacity, nearly double the next largest competitor.

Our Board of Directors, our management team and our employees are dedicated to creating value for all of our stockholders, which we expect to do by continuing to effectively execute on our strategic plan.

Sincerely,

Doyle R. Simons

About Temple-Inland Inc.

Temple-Inland Inc. is a manufacturing company focused on corrugated packaging and building products. The fully integrated corrugated packaging operation consists of 7 mills and 59 converting facilities. The building products operation manufactures a diverse line of building products for new home construction, commercial and repair and remodeling markets. Temple-Inland’s address on the World Wide Web is www.templeinland.com.

Cautionary Statement on Forward-Looking Statements

Forward-looking statements are made throughout this release. these forward-looking statements are sometimes identified by the use of terms and phrases such as “believe,” “should,” “would,” “expect,” “project,” “estimate,” “anticipate,” “intend,” “plan,” “will,” “can,” “may,” or similar expressions elsewhere in this release. all forward-looking statements are subject to a number of important factors, risks, uncertainties, and assumptions that could cause actual results to differ materially from those described in any forward-looking statements. these factors and risks include, but are not limited to, general economic conditions, demand for new housing, accuracy of certain accounting assumptions, changes in actual or forecasted cash flows, competitive pressures, future sales volume, significant increases in the costs of certain commodities, timely implementation of price increases, successful execution of cost saving strategies, changes in tax laws, integration risks associated with recent acquisitions, changes in weighted average shares for diluted EPS, increases in transportation costs, and other financial, operational, and legal risks and uncertainties detailed from time to time in Temple-Inland’s cautionary statements contained in its filings with the SEC. Temple-Inland disclaims and does not undertake any obligation to update or revise any forward-looking statement in this release except as required by law. Temple-Inland notes that forward-looking statements made in connection with a tender offer are not subject to the safe harbors created by the Private Securities Litigation Reform Act of 1995. Temple-Inland is not waiving any other defenses that may be available under applicable law.

<a href="http://www.businesswire.com/news/home/20110606006779/en/Temple-Inland-Rejects-Unsolicited-Takeover-Proposal-International-Papertag:news.google.com,2005:cluster=http://www.businesswire.com/news/home/20110606006779/en/Temple-Inland-Rejects-Unsolicited-Takeover-Proposal-International-PaperMon, 06 Jun 2011 20:20:50 GMT 00:00″>Temple-Inland Rejects Unsolicited Takeover Proposal from International Paper

LOS ANGELES–(BUSINESS WIRE)–B. Riley & co., LLC (B. Riley) www.brileyco.com, a full service broker dealer providing research and trading to institutional clients and investment banking services, today announced that it served as the exclusive financial advisor to Tix Corporation (OTCQX: TIXC) in the sale of subsidiary Tix Productions, Inc. (TPI), to members of TPI’s management.

“Rain — a Tribute to the Beatles on Broadway.”

B. Riley Managing Director Michael Lowell led the banking team in this transaction with Studio City, CA-based Tix Corporation, a leading provider of discount ticket brokerage services and branded event merchandising.

B. Riley also provided a fairness opinion. in a company-issued press release issued December 9, 2010, Tix Corporation reported that it retained B. Riley “to evaluate strategic options for TPI and to contact other potential strategic and financial buyers for TPI,” a live entertainment subsidiary which produces such Broadway shows as “American Idiot” and “Rain — a Tribute to the Beatles on Broadway.”

“B. Riley provided sound advice, canvassed the market and talked with every logical buyer for TPI,” said Mitchell Francis, Chairman, CEO and President of Tix Corporation. “Their efforts helped refocus our company on our core business, which positions us for future growth.”

B. Riley has successfully completed over 350 engagements with more than $16 billion in aggregate transaction value in a variety of industry sectors, including Consumer, Retail, Restaurants, Technology, Electronics, Financial Services, Industrials, Business Services, and Special Situations.

ABOUT B. RILEY & CO.

B. Riley & co. is a leading independent investment bank which provides a full array of corporate finance, research, sales, trading and otcqx dad services to corporate, institutional and high net worth individual clients. Investment banking services include merger and acquisitions advisory to public and private middle market companies, initial and secondary public offerings and institutional private placements. Its Corporate Governance Advisory Services Group is engaged by both companies and investors to help maximize value for shareholders. The firm is recognized for its distinguished Equity Research. Founded in 1997, B. Riley is headquartered in Los Angeles and maintains offices in Newport Beach, San Francisco, Philadelphia, Chicago and new York. It is a member of FINRA and SIPC. For more information, please visit www.brileyco.com.

<a href="http://www.businesswire.com/news/home/20101213006563/en/B.-Riley-Acts-Exclusive-Financial-Advisor-Tixtag:news.google.com,2005:cluster=http://www.businesswire.com/news/home/20101213006563/en/B.-Riley-Acts-Exclusive-Financial-Advisor-TixMon, 13 Dec 2010 19:45:44 GMT 00:00″>B. Riley Acts as Exclusive Financial Advisor to Tix Corporation in Sale of …

OVERLAND PARK, Kan., May 14, 2010 (BUSINESS WIRE) –In response to inquiries and published reports, Waddell & Reed Financial, Inc. /quotes/comstock/13*!wdr/quotes/nls/wdr (WDR 29.36, -0.38, -1.28%) today issued the following statement:

On May 6, as on many trading days, Waddell & Reed executed several trading strategies, including index futures contracts, as part of the normal operation of our flexible portfolio funds. Such trades often are executed in response to market activity, and are undertaken to protect fund investors from downside risk. We use futures trading as part of this strategy, broadly known as hedging. This is a longstanding and well monitored practice in certain of our investment portfolios. We believe we were among more than 250 firms that traded the “e-mini” security during the timeframe the market sold off.

Quotes attributed to executives at the CME and the CFTC note that Waddell & Reed has executed trades of this size previously, and indicate that we are a “bona fide hedger” and not someone intending to disrupt the markets. Further, CME noted that they identified no trading activity that contributed to the break in the equity market during this period. Like many market participants, Waddell & Reed was affected negatively by the market activity of May 6.

About the Company

Waddell & Reed, Inc., founded in 1937, is one of the oldest mutual fund complexes in the United States, having introduced the Waddell & Reed Advisors Group of Mutual Funds in 1940. Today, we distribute our investment products through the Waddell & Reed Advisors channel (our network of financial advisors), our Wholesale channel (encompassing broker/dealer, retirement, registered investment advisors as well as the activities of our Legend subsidiary), and our Institutional channel (including defined benefit plans, pension plans and endowments, as well as the activities of ACF and our subadvisory partnership with Mackenzie in Canada).

Through its subsidiaries, Waddell & Reed Financial, Inc. provides investment management and financial planning services to clients throughout the United States. Waddell & Reed Investment Management Company serves as investment advisor to the Waddell & Reed Advisors Group of Mutual Funds, Ivy Funds Variable Insurance Portfolios, Inc. and Waddell & Reed InvestEd Portfolios, Inc., while Ivy Investment Management Company serves as investment advisor to Ivy Funds, Inc. and the Ivy Funds portfolios. Waddell & Reed, Inc. serves as principal underwriter and distributor to the Waddell & Reed Advisors Group of Mutual Funds, Ivy Funds Variable Insurance Portfolios, Inc. and Waddell & Reed InvestEd Portfolios, Inc., while Ivy Funds Distributor, Inc. serves as principal underwriter and distributor to Ivy Funds, Inc. and the Ivy Funds portfolios.

SOURCE: Waddell & Reed Financial, Inc.

Waddell & Reed Financial, Inc. Nicole McIntosh, 913-236-1880 AVP, Investor Relations

Copyright Business Wire 2010

Waddell & Reed Issues Statement

NEW YORK, may 03, 2010 (BUSINESS WIRE) –Pinnacle Resources, inc. announced today that it has formally changed its legal name to Iron Eagle Group, inc., has been assigned the new symbol of (OTCQB: IEAG), and redomiciled to Delaware.

Name Change: Pinnacle changed its name to Iron Eagle Group, inc. Management believes this new name will more accurately reflect corporate operations.

Ticker Change: in connection with the name change, Iron Eagle has received a new CUSIP and received a new ticker symbol from FINRA. the ticker symbol has changed from PNRR to IEAG.

Redomicile to Delaware: Iron Eagle changed its domicile from a Wyoming Corporation into a Delaware Corporation. the purpose of the redomicile is to change the state of incorporation and legal domicile of Iron Eagle from Wyoming to Delaware. the board of directors believes that this change in the domicile is in the best interests of Iron Eagle and its shareholders. Delaware has long been a leading state in adopting, construing, and implementing comprehensive and flexible corporate laws that respond to the legal and business needs of corporations.

“We are very excited to have completed these important aspects to our corporate development,” said Jason Shapiro, Chief Financial Officer and Director of Iron Eagle. we have now rebranded our corporate identity to align with the business plan and corporate strategy. furthermore, becoming a Delaware corporation will enhance shareholder value and facilitate corporate growth and development. we are continuing to execute our strategy of using our competitive advantages in surety bonds, government contracting, operations, and finance to identify, acquire and significantly grow leading commercial construction companies throughout the United States.”

About Iron Eagle Group, inc.

Iron Eagle provides construction and contracting services in both the commercial and government markets. Iron Eagle’s management consists of professionals in finance, operations and government contracting. Management has put together a compelling strategic plan to capitalize on the large market opportunity created by the federal government’s stimulus package as well as funds that are flowing down to the state level for projects throughout the United States. through the public capital markets, Iron Eagle believes it will have the access to capital to support increased needs for construction surety bonds. by executing on its growth strategy, Iron Eagle can achieve significant growth through highly focused targeting of federal, state, and municipal construction projects. the proposed acquisition target companies possess strong footholds in selected markets as well as solid past performance histories.

Iron Eagle became a publicly traded company on July 15, 1999, and is traded on the OTCQB under the symbol IEAG. for more information on the company, please visit Iron Eagle’s website at www.ironeaglegroup.com.

About Jason M. Shapiro

Jason M. Shapiro, CFA, CPA, J.D. is currently CFO and Director of Iron Eagle. mr. Shapiro is a proven leader with over 10 years of extensive financial, private equity, turnaround, and restructuring experience across regional and global firms in diverse industries and in various states of financial health. Prior to joining Iron Eagle Group, mr. Shapiro was Vice President of Macquarie Capital Fund, Macquarie Group’s Private Equity Group. Prior to Macquarie, mr. Shapiro was an Associate Director at UBS Investment Bank, where he executed $15+ billion in corporate finance transactions.

Mr. Shapiro earned his MBA from the University of Pennsylvania’s the Wharton School. he earned his J.D from the Seton Hall University School of Law where he was in the Full Scholarship and Presidential Honors Program and completed all his law courses in under two years. he graduated as the Valedictorian and Summa Cum Laude from Baruch College’s Zicklin School of Business, where he earned his M.S. in Accountancy. mr. Shapiro was the Valedictorian of Rutgers College where he graduated Summa Cum Laude and completed his studies in three years with a B.S. in Computer Science. in addition, he was in several honors programs and received numerous departmental and collegiate awards. mr. Shapiro also has earned the following certifications: CPA (Certified Public Accountant), CFA (Chartered Financial Analyst), CIRA (Certified Insolvency and Restructuring Advisor). CDBV (Certification in Distressed Business Valuation), CFE (Certified Fraud Examiner), CFF (Certified in Financial Forensics), PMP (Project Management Professional), PMI-RMP (Risk Management Professional), and CLSSBB (Certified Lean six Sigma Black Belt). mr. Shapiro has also been admitted to the new Jersey Bar.

Safe Harbor Statement

The Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. these risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, and domestic and global economic conditions.

SOURCE: Iron Eagle Group, inc.

Iron Eagle Group, inc. mr. Jason M. Shapiro, CFA, CPA, J.D., +1 (917) 969-4845 Chief Financial Officer jasons@ironeaglegroup.com www.ironeaglegroup.comor Investor Relations: CCG Investor Relations mr. Crocker Coulson, +1 (646) 213-1915 President crocker.coulson@ccgir.com www.ccgir.com

Copyright Business Wire 2010

Pinnacle Resources, Inc. Announces Name Change to Iron Eagle Group, Inc.

PITTSBURGH, Apr 09, 2010 (BUSINESS WIRE) –Atlas Energy, inc. /quotes/comstock/15*!atls/quotes/nls/atls (ATLS 38.25, +6.44, +20.25%) (“Atlas” or “the Company”) announces today its entry into a joint venture transaction with a wholly owned affiliate of Reliance Industries Limited (“Reliance”), the largest private sector company in India and a global energy leader, pursuant to which Atlas will transfer an interest in its Marcellus Shale position equal to 120,000 net acres in a transaction valued at $1.7 billion. Reliance will pay approximately $340 million in cash upon closing and an additional $1.36 billion in the form of a drilling carry. Atlas will serve as the development operator for the joint venture. Reliance will have the option to operate in certain project areas in the coming years outside of Atlas’ core operating areas of Fayette, Greene, Washington, and Westmoreland Counties in southwestern Pennsylvania.

Pursuant to the agreement, Reliance will acquire a 40% undivided interest in approximately 300,000 net acres (120,000 net to Reliance) of undeveloped leasehold held by Atlas, and Atlas will retain a 60% undivided interest in the acreage. In addition to funding its own 40% of drilling obligations, Reliance has agreed to fund 75% of Atlas’ respective portion of drilling and completion costs until the $1.36 billion drilling carry is fully utilized. Atlas has 5-1/2 years to utilize the drilling carry, subject to a two-year extension under certain conditions. Atlas and Reliance have agreed upon a five-year development plan that calls for the drilling of 45 horizontal Marcellus Shale wells for the joint venture during the remainder of 2010, increasing to 108 wells in 2011, 178 wells in 2012, and 300 wells in 2013 and 2014.

Atlas will act as the sole leasing agent for the joint venture in the area of mutual interest (“AMI”). In the near future, Atlas and Reliance expect to considerably grow the joint venture’s Marcellus Shale leasehold position within the AMI. Reliance will have the option to acquire a 40% share of such new acreage under terms comparable to those agreed to by Atlas, with each party paying its proportionate share of acquisition costs. In addition, if Atlas decides to sell all or part of the 280,000 additional Appalachian acres currently controlled by it, but excluded from the joint venture and not included in the AMI, Atlas has granted Reliance a right to purchase such acreage at a price of $8,000 per acre. Reliance also receives a right of first offer with respect to potential future sales of this acreage by Atlas at lower prices. this acreage is located predominantly in Mercer, Crawford, and other Pennsylvania counties not currently included in Atlas’ core Marcellus area of southwestern Pennsylvania.

“We are excited by this opportunity to partner with Reliance, one of the world’s largest vertically integrated energy companies, and one that has demonstrated exceptional capability in all aspects of the energy business. We believe that this joint venture will greatly increase the value of Atlas’ business,” commented Edward E. Cohen, Chairman and Chief Executive Officer of Atlas Energy. “This transaction will enable us to accelerate sharply our development of the Marcellus while further reducing our already low finding and development costs and our capital structure will immediately benefit from reduced leverage and enhanced liquidity. As a result of this joint venture, we anticipate creating a significant number of new, well-paying Pennsylvania jobs. Pennsylvania will also benefit from our strong commitment to the highest environmental and safety standards.”

Reliance Industries Limited, an India-based industrial enterprise, is one of the largest refiners and petrochemical producers in the world. its recent market capitalization was over $78 billion and Reliance currently produces almost 3 Bcfe per day of oil & gas production from their E&P operations.

The purchase and sale is subject to certain closing conditions, including the consent of participating lenders under Atlas’ senior secured credit facility. The transaction is expected to close in April 2010.

Jefferies & Company, inc. acted as lead financial advisor and J.P. Morgan Securities, inc. acted as financial advisor to Atlas Energy on the joint venture transaction. Jones Day, Ledgewood and Wachtell, Lipton, Rosen & Katz acted as legal counsel to Atlas Energy.

Interested parties are invited to access the live webcast of an investor call with Atlas Energy’s management regarding the joint venture transaction on Monday, April 12, 2010 at 9:00 am ET by going to the Investor Relations section of Atlas Energy’s website at www.atlasenergy.com. for those unavailable to listen to the live broadcast, the replay of the webcast will be available following the live call on the Atlas Energy website and telephonically beginning at 11:00 am ET on April 12, 2010 by dialing 888-286-8010, passcode: 93641727.

Atlas Energy, inc. is one of the largest independent natural gas producers in the Appalachia and Michigan Basins and a leading producer in the Marcellus Shale in Pennsylvania. Atlas Energy, inc. is also the country’s largest sponsor and manager of tax-advantaged energy investment partnerships. Atlas Energy, inc. also owns 1.1 million common units in Atlas Pipeline Partners, L.P. /quotes/comstock/13*!apl/quotes/nls/apl (APL 14.42, +0.41, +2.93%) and a 64% interest in Atlas Pipeline Holdings, L.P. /quotes/comstock/13*!ahd/quotes/nls/ahd (AHD 6.71, +0.41, +6.51%) , a limited partnership which owns the general partner interest of APL. Atlas Pipeline Partners, L.P. is active in the gathering and processing segments of the midstream natural gas industry. In the Mid-Continent region in Oklahoma and Texas, APL owns and operates eight active gas processing plants and a treating facility, as well as approximately 10,300 miles of active intrastate gas gathering pipeline. In Appalachia, APL is a 49% joint venture partner with The Williams Companies in Laurel Mountain Midstream, LLC. for more information, please visit our website at www.atlasenergy.com, or contact Investor Relations at InvestorRelations@atlasenergy.com.

Cautionary Note regarding Forward-Looking Statements

This document contains forward-looking statements that involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those contained in the forward-looking statements. Atlas Energy, inc. cautions readers that any forward-looking information is not a guarantee of future performance. Such forward-looking statements include, but are not limited to, statements about future financial and operating results, resource potential, the Company’s plans, objectives, expectations and intentions and other statements that are not historical facts. Risks, assumptions and uncertainties that could cause actual results to materially differ from the forward-looking statements include, but are not limited to, those associated with general economic and business conditions; changes in commodity prices; changes in the costs and results of drilling operations; uncertainties about estimates of reserves and resource potential; inability to obtain capital needed for operations; the Company’s level of indebtedness; changes in government environmental policies and other environmental risks; the availability of drilling equipment and the timing of production; tax consequences of business transactions; and other risks, assumptions and uncertainties detailed from time to time in the Company’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”). Forward-looking statements speak only as of the date hereof, and the Company assumes no obligation to update such statements, except as may be required by applicable law.

SOURCE: Atlas Energy, Inc

Atlas Energy, inc. Brian J. Begley, 877-280-2857 Vice President – Investor Relations Fax: 215-553-8455

Copyright Business Wire 2010

Atlas Energy, Inc. Announces $1.7 Billion Marcellus Shale Joint Venture with …

DES MOINES, Iowa, Apr 07, 2010 (BUSINESS WIRE) –When it comes to allocating retirement plan assets, investors range from those who say “do-it-for-me” to I’ll “do-it-myself.” Financial advisors who can help plan sponsors meet the range of participant needs stand out from the crowd.

A new “do-it-myself” educational asset allocation service from the Principal Financial Group(R) helps financial advisors do just that.

RetireView(SM) empowers plan sponsors–with the help from their financial advisors–to select and monitor the investment options that can help meet the diverse needs of their retirement plan participants.

For participants, RetireView takes into account both risk tolerance and years to retirement and guides them to make investment choices that are more in tune with their individual investment goals. There are no additional fees to plan sponsors or participants.

“RetireView rounds out our suite of asset allocation products and services to be among the most comprehensive in the industry,” said Tom Smith, vice president of retirement and investor services at the Principal(R). “This gives financial advisors the flexibility and choice they want to bring to their clients. in a market with ever-more diverse needs, our comprehensive range of choices offers a fit for virtually every plan sponsor and participant.”

How RetireView works

With help from their financial advisors, plan sponsors select investment options that populate 20 asset allocation models designed by Ibbotson Associates specifically for RetireView. the models range from conservative to aggressive and represent a broad spectrum of risk profiles, years to retirement and asset classes.

After taking an investor profile quiz, participants can select the model that best aligns with their individual risk tolerance and years to retirement. RetireView gives participants the help they want in selecting investment options while allowing them to retain control over how they allocate their contributions.

Auto features to address changing needs and market fluctuations

RetireView can include two automatic features to ensure that the plan participants’ asset allocation models follow their original investment strategies despite market changes.

– Aging–automatically adjusts asset allocations to be more conservative closer to retirement.

– Rebalancing–automatically rebalances participant accounts on a quarterly basis to keep the investment mix in proportion to the desired targets.

Full range of asset allocation choices

RetireView is the latest in a series of flexible asset allocation choices available from the Principal that include:

– Two target-date options–Principal LifeTime Funds and Principal Trust Target Date Funds

– A target-risk option–Principal Strategic Asset Management Portfolios

– the Principal Managed Account Program(SM)–offers ongoing independent investment advice through Ibbotson Associates

About the Principal Financial Group

The Principal Financial Group(R) (The Principal(R))(1) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $284.7 billion in assets under management(2 )and serves some 18.9 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. for more information, visit www.principal.com.

Before investing in mutual funds, investors should carefully consider the investment objectives, risks, charges and expenses of the funds. This and other information is contained in the free prospectus, which can be obtained from your local representative or by contacting us at 1-800-547-7754. please read the prospectus carefully before investing.

Equity investment options involve greater risk, including heightened volatility, than fixed-income investment options. Fixed income investment options are subject to interest rate risk, and their value will decline as interest rates rise.

Asset allocation does not guarantee a profit or protect against a loss.

Additionally, there is no guarantee these investment options will provide adequate income at or through retirement. Investing in real estate, small-cap, international, and high-yield investment options involves additional risks. Fixed-income and asset allocation investment options that invest in mortgage securities are subject to increased risk due to real estate exposure.

Each Principal LifeTime portfolio is available through a Separate Account or Principal Funds, Inc. mutual fund. Principal LifeTime Separate Accounts are made available through a group annuity contract with the Principal Life Insurance Company, Des Moines, IA 50392. may not be available in all states or U.S. Commonwealths.

The individual Principal LifeTime Funds may be combined with the Principal LifeTime Strategic Income Fund if the Board of Directors of Principal Funds, Inc., determines at the time that the combination is in the best interests of Fund shareholders.

Principal LifeTime Separate Accounts invest wholly in the Institutional share class of the corresponding Principal LifeTime Fund.

An investment option’s value and investment return will fluctuate so that values upon redemption may be worth more or less than original cost. for additional information visit principal.com.

Performance of the individual models may fluctuate and will be influenced by many factors.

The Principal Trust(SM) Target Date Funds, is a series of collective investment funds established and maintained by Delaware Charter Guarantee & Trust Company, conducting business as Principal Trust(SM) Company (“Principal Trust”), a member of the Principal Financial Group(R). Principal Trust Target Date Funds are not mutual funds and are not registered with the Securities and Exchange Commission, the State of Delaware or any other regulatory body. Principal Trust Target Date Funds are not guaranteed by Principal Trust, any affiliate, the FDIC or any other governmental agency.

Insurance products and plan administrative services are provided by Principal Life Insurance Company. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities are offered through Princor Financial Services Corporation, 1-800-547-7754, member SIPC and/or independent broker/dealers. Securities sold by a Princor Registered Representative are offered through Princor(R). Principal Funds Distributor, Princor and Principal Life are members of the Principal Financial Group(R), Des Moines, IA 50392.

(1) “The Principal Financial Group” and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

(2) As of December 31, 2009

SOURCE: Principal Financial Group

Principal Financial Group Terri Hale, 515-283-8858 hale.terri@principal.com or Jaime Naig, 515-247-0798 naig.jaime@principal.com

Copyright Business Wire 2010

New Retirement Asset Allocation Service Highlights Value of Financial Advisors

NEWARK, N.J., Mar 15, 2010 (BUSINESS WIRE) –This tax season provides some unique planning opportunities for retirement and financial planning purposes, according to Robert Fishbein, a vice president in Prudential Financial’s /quotes/comstock/13*!pru/quotes/nls/pru (PRU 56.03, +0.15, +0.27%) Tax Department.

With tax rates scheduled to increase next year, it may make sense to accelerate income into 2010 to pay tax at the lower tax rates in effect for that year, Fishbein explains. In this first in a series of three releases on tax planning tips, below is a list of ways to consider accelerating income into 2010 and pay tax at the lower rates:

1. Consider maximizing contributions to after-tax retirement vehicles. Contributing to an after-tax retirement vehicle such as a Roth 401(k), Roth 403(b) plan or a Roth IRA requires you to pay income tax on your retirement contribution today, but in exchange you get a tax-free retirement asset. Assuming that tax rates are the same or less than when you would withdraw the retirement asset, this will result in more after-tax retirement funds for you to live on. Even if rates go up in retirement, there are other benefits that still might make funding a Roth a smart economic move.

2. Mull over a Roth conversion. Converting from a traditional IRA to a Roth IRA accelerates the built-in tax liability associated with this retirement asset. This can be a particularly attractive planning opportunity given the elimination of the income limits that precluded many from utilizing a Roth IRA prior to 2010.

3. Review company stock options. For some, exercising stock options can result in income to the extent of the difference between the dollar amount you pay for the stock and the then fair market value of the stock.

4. Evaluate participation in deferred compensation plans. In most cases, you would have had to have elected not to participate in the plan prior to 2010, unless you are a new hire or eligible for other limited exceptions.

5. Assess stock or mutual funds. In so doing, give special consideration to selling stock, mutual funds or other capital assets with a significant built-in gain position. if you are selling a business interest, consider selling for an immediate payment rather than an installment sale where you recognize the gain over time as payments are received. these strategies must be weighed with the benefit of dying with an appreciated asset that will receive a step up in basis for heirs that avoids income tax.

6. Consider RMD options. For individuals attaining age 70 1/2 in 2010, a onetime option exists to defer taking your first Required Minimum Distribution, or RMD. if you choose this option you must take your initial RMD by April 1 of the following year, and you must also take a second RMD amount by the end of the second year. Given the possible desire to accelerate income, and since delaying the RMD withdrawal would result in two RMD distributions in 2011, an individual in this position may choose to take his or her first RMD in 2010.

As with any financial decision, you should consult with your tax planner or financial advisor to determine the actions that make the most sense for you as part of your overall saving strategy, Fishbein concludes.

Next week, Fishbein discusses deferring 2010 deductions to help maximize retirement savings.

Prudential Financial, Inc. /quotes/comstock/13*!pru/quotes/nls/pru (PRU 56.03, +0.15, +0.27%) , a financial services leader with approximately $667 billion of assets under management as of December 31, 2009, has operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. In the U.S., the company’s Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential’s businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. For more information, please visit www.news.prudential.com.

0174586-00001-00

SOURCE: Prudential Financial, Inc.

Prudential Lisa M. Bennett, 973-802-2894 lisa.bennett@prudential.com

Copyright Business Wire 2010

Take Advantage of Unique Tax Planning Strategies

MINNEAPOLIS–(BUSINESS WIRE)–For the first time, Bloomington-based JNBA Financial Advisors has been named to Barron’s list of the 1,000 top advisors in the country. In the magazine’s state-by-state rankings released on February 22, Richard Brown, CEO of the independent, 30-year-old firm, was ranked fourth in Minnesota.

JNBA has twice been named one of the nation’s top-100 independent wealth advisors by Barron’s and the Winner’s Circle,* but never to the overall top-1,000 list. According to Brown, the fact that JNBA and other independent Registered Investment Advisors (RIAs) made this year’s list alongside traditional brokerage houses indicates a shift toward a new wealth-management model. “Over the past few years, it’s been more and more apparent that investors are demanding independence and transparency from their wealth advisory firms,” says Brown. “Based on recent industry information we believe JNBA made this year’s list because more investors are making sure that their wealth advisor is sitting on the same side of the table as they are, and providing counsel without an agenda.”

The shift toward independent advice is reinforced by TD Ameritrade’s most recent RIA Sentiment survey, which reports that investors continue to choose independent advisors over full-commission brokers. those surveyed with total client numbers up reported that nearly 72 percent of net new client assets were attributed to coming from full-commission brokers. JNBA also saw an influx of new assets. In 2009, during one of the most turbulent and difficult economic periods in U.S. history, JNBA increased new client assets 99.6% compared to 2007, a year when the stock market hit a record high.

The Feb. 22, 2010, issue of Barron’s also cited the top advisors’ high client-retention rate as one important measure of their collective success. JNBA consistently posts an above 96-percent client-retention rate. “One of the most important gauges of our success is how our clients feel about the job we’re doing for them,” says Brown. “And that’s been reflected by the feedback we’re receiving from our clients, as well as our company’s growth.”

Judith Brown founded JNBA in 1979, and was a pioneer in offering fee-based, client-focused financial advice. Today, her son Richard and daughter-in-law Kim continue Judith’s vision, concentrating on building the company’s client-focused reputation and maintaining the independent, community-focused outlook that JNBA was founded upon. since Richard joined JNBA in 1997, the company has tripled in assets under management.

ABOUT JNBA

Bloomington-based JNBA Financial Advisors, Inc., is an independent fee-based wealth management firm specializing in goal-directed asset management and financial planning. their advisory teams provide advice on future financial direction as well as current financial issues. for more information, visit www.jnba.com.

*As rated by the Winner’s Circle and Barron’s in the August 27, 2007, and August 18, 2008, issues. Rankings and/or recognition by publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if JNBA is engaged, or continues to be engaged, to provide investment advisory services, nor should it be construed as a current or past endorsement of JNBA by any of its clients. Rankings published by magazines, and others, generally base their selections exclusively on information prepared and/or submitted by the recognized adviser. a copy of JNBA’s current written disclosure statement discussing advisory services and fees is available upon request.

Independent JNBA Financial Advisors Named to Barron’s List of 1,000 Top Advisors

CHICAGO–(BUSINESS WIRE)–Grant Thornton LLP has released last-minute strategies that could help tax payers to avoid common filing season hassles and possibly uncover savings that may have been overlooked. the firm cautions tax payers that even though the filing deadline is upon us, there’s no need to panic.

“You can’t go back and change what happened last year, but believe it or not, there are still things you can do now to affect your 2009 tax return,” said Grant Thornton tax partner Mel Schwarz. “There are also several tax law changes that taxpayers need to keep in mind.”

1. What did I do in 2009 that I need to remember now to positively affect my 2009 return?

• Paid real property taxes. Congress last year extended a new deduction for non-itemizers on real property taxes of up to $500 for singles and $1,000 for married couples filing jointly. If you don’t itemize your deductions but paid real property taxes, don’t forget this deduction.
• Bought a new car. “Cash-for-clunkers” stole all the press, but don’t forget about a new deduction for state and local sales tax on new car purchases made between Feb. 17 and the end of 2009. the deduction is allowed for taxes on the first $49,500 of the car’s price, and the income limit is unusually high for this type of targeted benefit. the deduction phases out beginning at income levels of $125,000 for individuals and $250,000 for joint filers.
• Made home improvements. the February stimulus bill revitalized the energy-efficient home improvement tax credit. For 2009, you are entitled to a 30 percent credit of up to $1,500 for installing energy-efficient property such as insulation, windows, roofs, fans, furnaces or water heaters. Your property should have come with a sticker from the manufacturer if it qualifies, but try checking with your retailer if you’re unsure.
• Paid tuition. February’s stimulus bill enhanced the HOPE credit and renamed it the American Opportunity Credit for 2009 and 2010. the 2009 version features a higher income phaseout ($80,000 to $90,000 for singles and $160,000 to $180,000 for joint filers), an increased maximum credit of $2,500 and 40 percent refundability.

2. Are there actions I can take now to positively affect my 2009 return?

• Contribute to an IRA. Get an above-the-line deduction for your 2009 return by contributing to an Individual Retirement Account (IRA) now. you can make contributions that are deductible on your 2009 return any time before the April 15, 2009 — and can even set up the account now if you don’t have one already. Contribution limits for 2009 are $5,000 plus a $1,000 catch up for those 50 and over, but contributions only offer deductions at income levels below $109,000 for joint filers and $65,000 for singles.
• Contribute to an HSA. If you were covered by a “high deductible” health plan in 2009, it’s not too late to make 2009 contributions to a Health Savings Account (HSA), which also provides an above-the-line deduction. Even if you didn’t have an HSA set up last year, you can set one up and make 2009 contributions any time before the April 15, 2010, filing deadline. Contributions provide an above-the-lined deduction and for 2009 are limited to $3,000 for individuals and $5,950 for families, plus a $1,000 catch up for those 55 and over.
• Buy a home. If you buy a house in 2010 that qualifies you for the homebuyer credit, you can claim it on your 2009 return. the credit offers up to $8,000 for “first-time homebuyers” who have not owned a principal residence in the last three years or $6,500 for “long-time residents” who have owned a home that is their principal residence for five of the last eight years. the home contract must be in place by April 30, 2010, and the home must be purchased by June 30. If your income is above the level where the credit begins to phase out ($125,000 for singles and $225,000 joint filers for purchases after Nov. 6, 2009), consider helping someone else in the family who may qualify. But watch out for the anti-abuse rules and remember that the house can’t cost more than $800,000.
• Make charitable contributions to help Haiti. Congress acted quickly to allow taxpayers to accelerate deductions for charitable contributions made to Haiti earthquake relief programs. Cash contributions made before March 1, 2010, can be claimed on your 2009 tax return. the new law also allows taxpayers to substantiate deductions made by text message with a copy of their phone bill. But remember, charitable contributions are only deductible if you itemize.

3. What’s new that could surprise me as I do my 2009 taxes?

• Am I under-withheld? Last February’s stimulus bill offered a credit of up to $400 for singles and $800 for joint filers. the IRS changed the withholding tables so the value of the credit could be delivered during the year through reduced withholding. This means taxpayers who ultimately will not qualify for the credit may not have had enough tax withheld. This problem could affect taxpayers with spouses or second jobs that push them over the credit’s income limit, but is more likely to affect taxpayers with pension income that doesn’t qualify as “earned” income for the credit. the IRS has said it will not apply underpayment penalties in these cases, so make sure you don’t pay any penalty you shouldn’t.
• The “kiddie tax.” the “kiddie tax” was expanded in recent years so that it applies to full-time students under the age of 24 and all children 18 and younger. If the income from these children does not represent at least one-half of their support, some of their investment income may have to be taxed at your marginal rate.

4. how do I avoid filing season hassles and mistakes?

• Get your charitable house in order. A charitable cash contribution must be documented to be deductible. Remember, you cannot deduct donations to individuals, social clubs, political groups or foreign organizations. But you can get a deduction of up to 14 cents a mile driven in service of a charitable organization.
• Consider filing electronically. Filing electronically will speed up your refund and can save you from simple mistakes. before the IRS accepts an electronic return, it checks for several critical errors. the IRS gives you the chance to correct the problems before it accepts and processes your electronic return.
• Check your numbers twice. Avoid math errors and make sure to get your Social Security numbers right. IRS computers automatically match all Social Security numbers and check for simple math mistakes. If you wrote down the wrong Social Security number for one of your dependents, the IRS will disallow the dependent, recalculate the return and usually send you a brand new tax bill.

5. What should I start thinking about for 2010?

• Roll over into a Roth IRA. The $100,000 income limit on rollovers into Roth IRAs disappeared in 2010. you can roll over into a Roth IRA from either a traditional IRA or a qualified retirement plan such as a 401(k), 403(b) or 457 plan, and you will pay taxes on the investments immediately in exchange for no taxes at withdrawal. Why pay tax now when you can defer? Tax rates are scheduled to go up, and the tax on your rollover may be low now if the economic downturn has depressed the value of your investments. plus, Roth IRAs have no required minimum distributions.
• Prepare for potential tax increases. Tax rates are scheduled to increase in 2011. Although many lawmakers have pledged to extend some of the current tax cuts, taxes could increase in higher tax brackets and for capital gains and dividends. Depending on how the legislative outlook develops this year, it may make sense to reverse your normal tax strategy in 2010 by accelerating income and deferring deductions to take advantage of current low rates. If this strategy includes recognizing gain on business assets, you may want to begin exploring your options early in the year.

Grant Thornton LLP Offers Tax Season Survival Tips

RYE, N.Y., Feb 09, 2010 (BUSINESS WIRE) —-AUM at December 31, 2009 were $26.3 billion up 30.4% from December 31, 2008

GAMCO Investors, inc. (GAMCO) /quotes/comstock/13*!gbl/quotes/nls/gbl (GBL 40.64, +0.91, +2.29%) announced fourth quarter 2009 earnings of $0.70 per fully diluted share versus a loss of $0.44 per fully diluted share in the fourth quarter 2008. Net income was $19.4 million in the fourth quarter 2009 compared to a loss of $12.1 million in the fourth quarter 2008. Assets under Management (AUM) were $26.3 billion as of December 31, 2009, 30.4% higher than December 31, 2008 AUM of $20.2 billion and 7.6% higher than September 30, 2009 AUM of $24.5 billion. Institutional and Private Wealth Management AUM increased 32.7% to $11.2 billion at December 31, 2009 from $8.5 billion at December 31, 2008 and 9.2% higher than the $10.3 billion at September 30, 2009.

For the full year ended December 31, 2009, earnings were $2.02 per fully diluted share versus the $0.89 per fully diluted share in 2008. Net income was $55.5 million for 2009 compared to $24.9 million in 2008.

We have the opportunity to earn base fees and incentive fees for certain institutional client assets, assets attributable to preferred issues of our closed-end funds, our Gabelli Global Deal Fund /quotes/comstock/13*!gdl/quotes/nls/gdl (GDL 13.70, +0.15, +1.11%) and investment partnership assets. for the fourth quarter 2009 we earned $21.0 million versus $0.7 million in the year ago fourth quarter. for the full year 2009 our results benefited from $21.8 million from incentive fees against $2.3 million for the full year 2008.

The Company had adjusted cash and investments, net of debt, noncontrolling interest and mandatorily redeemable shares of $434.7 million or $15.75 per share at December 31, 2009. Book value was $448.0 million or $16.23 per share at December 31, 2009 which excludes noncontrolling interests of $4.0 million. these numbers reflect the $2.00 per share special dividend, or $55.2 million, paid on December 15, 2009.

During the fourth quarter 2009 we experienced positive net AUM cash flows of $878 million, including $442 million in our Institutional and Private Wealth Management; $228 million in open-end equity funds, $104 million in Money-Market flows and $97 million in our closed-end funds.

We completed our first decade as a public company. in February 1999, the company issued six million shares at $17.50 per share. Since then, on a cumulative basis, shareholders have received $204 million in dividends through December 31, 2009. in addition, since our IPO our shareholders have benefited from $250 million we have invested in our shares through share repurchases. GBL stock closed at $48.29 per share on December 31, 2009 representing an annual compounded return of 11.4% during the decade.

When we started our firm in 1977, we had one mission — to earn a risk adjusted return for our clients, thereby earning a return for all our stakeholders. our business remains client centric. When our clients, investors, and limited partners do well, our shareholders and our professional team are rewarded.

Stated another way, we benefit when our GAMCO clients do well. Since our inception in 1977, our returns, based on GAMCO’s client composite, were 15.9% compounded. more recently, our GAMCO client composite achieved an annual return of 5.7% for the ten years ended December 31, 2009 while the S&P 500 experienced a negative annual return of 0.95%.

We remain focused on increasing client assets on a risk adjusted basis well over the underlying benchmarks. these gains, along with organic growth, and external opportunities will help our shareholders. We look forward to working for our clients and shareholders over the next decade.

Investment Performance

Relative long-term investment performance remains strong. At least 56% of all our mutual funds (that we distribute) performed in the top half of their Lipper categories on a one, three, five and ten-year total return basis as of December 31, 2009. See Lipper chart on page 19. The following funds that we distribute have a 4 or 5-star three year Morningstar Rating(TM). See Morningstar chart that follows.

— The Gabelli ABC Fund — The GAMCO Westwood Mighty Mites(SM) Fund– ” Asset Fund — ” Global Telecommunications Fund– ” Blue Chip Value Fund — ” Global Opportunity Fund– ” Equity Income Fund — ” Mathers Fund– ” Small Cap Growth Fund — ” Westwood Balanced Fund– ” Utilities Fund — ” Westwood Equity Fund– ” Enterprise Mergers and Acquisitions Fund Gabelli Funds Morningstar(R) Ratings Based on Risk Adjusted returnsas of December 31, 2009 for funds that we distribute Overall Rating 3 Year Rating 5 Year Rating 10 Year RatingFUND Morningstar Stars # of Stars # of Stars # of Stars # of Funds Category Funds Funds FundsGabelli ABC AAA Mid-Cap Blend ***** 369 ***** 369 ***** 303 **** 152Gabelli Asset AAA Mid-Cap Blend **** 369 **** 369 **** 303 *** 152Gabelli Blue Chip Value AAA Large Blend **** 1757 **** 1757 **** 1376 *** 710Gabelli Equity Income AAA Large Value ***** 1104 ***** 1104 ***** 912 ***** 459Gabelli Small Cap Growth AAA Small Blend ***** 566 ***** 566 ***** 467 **** 243Gabelli SRI Green AAA Mid-Cap Blend n/a n/a n/a n/a n/a n/a n/a n/aGabelli Utilities AAA Specialty – Utilities **** 97 ***** 97 **** 80 **** 52Gabelli Value a Mid-Cap Blend ** 369 ** 369 ** 303 ** 152Gabelli Woodland Small Cap Value AAA Small Blend *** 566 *** 566 *** 467 n/a 234GAMCO Global Convertible Secs AAA Convertibles * 58 * 58 * 56 * 41GAMCO Global Growth AAA World Stock ** 542 *** 542 *** 447 * 251GAMCO Global Opportunity AAA World Stock **** 542 **** 542 **** 447 *** 251GAMCO Global Telecommunications AAA Specialty – Communications *** 39 **** 39 *** 32 *** 13GAMCO Gold AAA Specialty – Precious Metals *** 67 *** 67 *** 60 *** 35GAMCO Growth AAA Large Growth *** 1548 *** 1548 *** 1276 ** 698GAMCO International Growth AAA Foreign Large Growth *** 206 *** 206 *** 149 *** 80GAMCO Mathers Conservative Allocation ** 522 **** 522 ** 343 * 151GAMCO Westwood Balanced AAA(a) Moderate Allocation **** 953 **** 953 **** 786 **** 441GAMCO Westwood Equity AAA(a) Large Blend **** 1757 **** 1757 ***** 1376 **** 710GAMCO Westwood Income AAA(a) Moderate Allocation ** 953 * 953 * 786 ***** 441GAMCO Westwood Intermediate AAA(a) Intermediate-Term Bond *** 978 *** 978 *** 866 *** 496GAMCO Westwood Mighty Mites AAA(a) Small Blend ***** 566 ***** 566 ***** 467 ***** 243GAMCO Westwood SmallCap Equity AAA(a) Small Blend ** 566 *** 566 *** 467 * 243Gabelli Enterprise Mergers & Acquisitions Y Mid-Cap Blend ***** 369 **** 369 ***** 303 n/a 152Comstock Capital Value AAA Bear Market n/a n/a n/a n/a n/a n/a n/a n/aPercent of Rated funds rated 4 or 5 47.83% 56.52% 47.83% 38.10%stars

The Overall Morningstar Rating(TM) is derived from a weighted average of the performance figures associated with its three, five and ten year (if applicable) Morningstar Rating metrics. Data presented reflects past performance, which is no guarantee of future results. Ratings are for Class AAA, a or Y shares only, other classes may have different performance characteristics. Unrated funds and closed-end funds are not listed. for each fund with at least a three year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure (including the effects of sales charges, loads, and redemption fees) that accounts for variation in a fund’s monthly performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of the funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) Strong relative performance is not indicative of positive fund returns. (C) 2010 Morningstar, inc. all rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Investors should consider the investment objectives, risks, sales charges and expenses of the fund carefully before investing. Each Fund’s prospectus contains this and other information about the Funds and is available, along with information on other Gabelli Funds, by calling 800-GABELLI (422-3554), online at www.gabelli.com/funds or from your financial advisor. The prospectus should be read carefully before investing. Distributed by Gabelli & Company, One Corporate Center, Rye, NY 10580 call 1-800-GABELLI (422-3554) for a prospectus. The inception date for the Gabelli SRI Green Fund was June 1, 2007. The inception date for the Gabelli Woodland Small Cap Value Fund was December 31, 2002. The inception date for the Gabelli Enterprise Mergers & Acquisitions Fund was February 28, 2001. The inception date for the Comstock Capital Value Fund was October 10, 1985. (a) Managed by Teton Advisors, inc. not Gabelli Funds, LLC.

Assets under Management — Up 30.4% from December 31, 2008

Assets under Management (AUM) were $26.3 billion as of December 31, 2009, 30.4% greater than December 31, 2008 AUM of $20.2 billion and 7.6% higher than September 30, 2009 AUM of $24.5 billion. Equity AUM were $24.6 billion on December 31, 2009, 31.7% above the $18.7 billion on December 31, 2008 and 7.7% above the September 30, 2009 equity AUM of $22.8 billion. Highlights are as follows:

– our Institutional and Private Wealth Management business ended the quarter with $11.2 billion in separately managed accounts, up 32.7% from the $8.5 billion on December 31, 2008 and 9.2% higher than the September 30, 2009 level of $10.3 billion on appreciation and new client accounts in the current quarter.

– our closed-end funds had AUM of $4.6 billion on December 31, 2009, rising 21.5% from the $3.8 billion on December 31, 2008 and 5.5% above the $4.4 billion on September 30, 2009.

– our open-end equity funds AUM were $8.5 billion on December 31, 2009, 38.1% higher than the $6.1 billion on December 31, 2008 and 7.2% above the $7.9 billion on September 30, 2009.

– AUM in The Gabelli U.S. Treasury Money Market Fund, our 100% U.S. Treasury money market fund, ranked #3 for 2009 by Lipper based on total return among 72 U.S. Treasury Money Market Funds, increased to $1.7 billion at December 31, 2009 from $1.5 billion on December 31, 2008 and was 6.5% higher than the September 30, 2009 AUM of $1.6 billion.

– our investment partnerships AUM were $305 million on December 31, 2009 versus $295 million on December 31, 2008 and $291 million on September 30, 2009.

– We have the opportunity to earn base fees and incentive fees for certain institutional client assets, assets attributable to preferred issues for our closed-end funds, our Gabelli Global Deal Fund /quotes/comstock/13*!gdl/quotes/nls/gdl (GDL 13.70, +0.15, +1.11%) and investment partnership assets. as of December 31, 2009, assets with incentive based fees were $2.8 billion, 7.7% higher than the $2.6 billion on December 31, 2008 and 3.7% above the $2.7 billion on September 30, 2009.

The Gabelli U.S. Treasury Money Market Fund ranked #5 out of 73 funds for the fourth quarter of 2009, #3 out of 72 funds for the one-year period, #2 out of 64 funds for the five-year period and #2 out of 46 funds for the ten-year period. The rankings are based on total return over the length of the period. Past performance is not indicative of future results. Investment returns and yield will fluctuate. Income will be subject to federal income tax. an investment in the Fund is not guaranteed nor insured by the Federal Deposit Insurance Corporation or any government agency. although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. during the respective periods, the Adviser has waived certain fees and reimbursed expenses. without such reimbursements or waivers return and rankings would have been lower.

Investors should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The prospectus, which contains more complete information about this and other matters, should be read carefully before investing. You can obtain a prospectus by calling Gabelli & Company, inc. at 1-800-GABELLI (1-800-422-3554), or by visiting http://www.gabelli.com. Distributed by Gabelli & Company, inc. One Corporate Center, Rye, NY 10580

For the Quarter

Investment advisory fees, including incentive fees, for the fourth quarter 2009 were $66.6 million, an increase of 66.3% from the depressed $40.0 million in the 2008 fourth quarter:

– Open-end fund revenues were $21.3 million versus $16.9 million in fourth quarter 2008, an increase of 26.0% primarily due to higher average AUM.

– our closed-end fund revenues rose to $23.2 million in the fourth quarter 2009 from $6.6 million in 2008. $14.6 million of the revenue in the fourth quarter 2009 was from incentive and fulcrum fees versus none in the 2008 period.

– Institutional and high net worth separate account revenues, which are based primarily upon beginning of quarter AUM, increased 18.2% to $18.8 million from $15.9 million in fourth quarter 2008. The primary reason for the increase was an increase of $2.9 million of fulcrum fee revenue.

– Investment partnership revenues were $3.2 million, an increase of $2.6 million from $0.6 million in 2008. The primary reason for the increase was an increase of $2.7 million of incentive fee revenues.

Our institutional research services subsidiary achieved revenues of $4.5 million in the fourth quarter 2009, declining 11.4% from the fourth quarter 2008 amount of $5.1 million.

Open-end fund distribution fees and other income were $6.9 million for the fourth quarter 2009, an increase of $2.0 million, or 40.2% from the prior year quarter of $4.9 million. The main driver of this increase was higher quarterly average assets in our open-end equity funds that generate such fees.

Investment advisory fees for the year ended December 31, 2009 were $178.7 million, a decline of 12.5% from $204.3 million in the 2008 period. While AUM levels are substantially higher at year end 2009 than 2008, average AUM was higher in 2008 due to the substantial market declines in late 2008 and early 2009:

– Open-end fund revenues were $73.0 million versus $88.7 million for 2008, a drop of 17.7% primarily due to lower average AUM.

– our closed-end fund revenues rose 6.4% to $43.1 million for 2009 from $40.5 million in 2008, mainly on increased fulcrum fee revenue of $14.6 million.

– Institutional and high net worth separate account revenues, which are based primarily upon beginning of quarter AUM, decreased 20.1% to $57.8 million from $72.3 million for 2008. We earned $4.5 million in fulcrum fee revenue during 2009 and $2.3 million in 2008.

– Investment partnership revenues were $4.7 million, an increase of $2.0 million or 74.1% from $2.7 million in 2008. The primary reason for the increase was an increase of $2.7 million of incentive fee revenues.

Our institutional research services subsidiary achieved revenues of $16.7 million for 2009, up 3.6% from the 2008 amount of $16.1 million reflecting an expanded client base attributable to increased sales and trade execution as well as the success of our research product offerings.

Open-end fund distribution fees and other income were $22.7 million for 2009, a decrease of $1.9 million, or 7.7% from the 2008 amount of $24.6 million. The main driver of this decrease was lower average assets for the year in our open-end equity funds that generate distribution fees.

Operating Income and Margin

Operating income before management fee was $34.7 million in the fourth quarter 2009, more than double the $17.1 million in the fourth quarter 2008. for the fourth quarter 2009, the operating margin before management fee increased to 44.4%, versus 34.1% in the fourth quarter of 2008 and 37.8% in the third quarter of 2009. The fourth quarter 2009 operating margin was favorably impacted by the $21.0 million in incentive fees which have a higher incremental margin.

Operating income before management fee was $82.0 million for the year ended December 31, 2009, 8.0% lower than the $89.1 million in the comparable 2008 period. for the full year ended December 31, 2009, the operating margin before management fee was 37.6%, versus 36.4% for 2008 and 40.2% for 2007.

Other Income / (Expense)

Other income/(expense) (net of interest expense) was flat in the fourth quarter 2009 versus an expense of $39.5 million in the prior year’s fourth quarter on improved investment income.

Other income/(expense) (net of interest expense) was income of $15.7 million in 2009 versus expense of $48.6 million in the prior year on improved investment income.

The effective tax rate for the fourth quarter 2009 was 37.6%, compared to the 2008 quarter’s effective rate of 37.5%.

The effective tax rate for the year ended December 31, 2009 was 36.1%, compared with the effective rate for 2008 of 33.8%.

Investment Highlights

– GAM GAMCO Equity Fund was awarded Standard & Poor’s AAA Rating for the sixth consecutive year and is one of only four funds among the 79 in S&P’s U.S. Mainstream Equities peer group to receive the AAA rating. The Standard & Poor’s AAA rating is a widely acknowledged measure of excellence, awarded only when, in S&P’s words: “The fund demonstrates the highest standards of quality in its sector based on its investment process and performance consistency of the management team and/or approach as compared to funds with similar objectives.” The following is excerpted from the Management Style section of Standard & Poor’s AAA December 2009 Report on GAM GAMCO Equity fund: “Gabelli follows a bottom-up, value-driven approach, developed from Graham & Dodd. The approach uses detailed fundamental analysis to highlight stocks that are currently undervalued, but have a reasonable probability of realising a private market value (PMV) through the intervention of a discernible catalyst. The PMV is the value they believe an informed investor would be willing to pay for a company. Catalysts can be a specific event or a range of circumstances with varying time horizons… Positions are built gradually according to conviction, on a five to 10-year horizon and turnover is therefore very low… Sector weights are not constrained. Risk is largely controlled by building a broadly diversified portfolio with no consideration for the S&P 500 benchmark.” GAM GAMCO Equity Fund has been sub-advised by GAMCO Asset Management inc. for London UK based Global Asset Management (“GAM”) since the fund’s launch in October 1987. We plan to enhance our position as a sub-advisor with other financial sponsors where we have investment capacity.

– Howard Ward, team leader of the GAMCO Growth strategy and the portfolio manager of The GAMCO Growth Fund (GABGX) since 1994, was highlighted in several magazines, including the Financial Times, the Wall Street Journal and Investor’s Business daily, noting his experience in providing alpha in up markets.

– during 2009 the GAMCO Global Telecom Fund added Sergey Dluzhevskiy, CFA as an Associate Portfolio Manager, the Gabelli Asset Fund named Kevin V. Dreyer as an Associate Portfolio Manager and John Segrich joined the Gabelli SRI Green Fund inc. portfolio management team.

– Morningstar rated 48% of the Class AAA share open-end funds that we distribute five or four stars overall as of December 31, 2009.

Business Highlights

– during the course of the 2009 year GAMCO donated to various charities amounts accumulating in excess of $0.6 million and $1.0 million in 2008. despite the decline in our operating earnings, continuing to support charitable endeavors today in a larger way, is the right thing to do.

– in February 2009, The Gabelli Global Deal Fund /quotes/comstock/13*!gdl/quotes/nls/gdl (GDL 13.70, +0.15, +1.11%) raised $96 million through a rights offering in which shareholders received one transferable right for each common share held on the record date of December 19, 2008. Holders of ten rights were entitled to purchase one newly issued Series a Cumulative Callable Preferred Share at the subscription price of $50.00 per share.

– in March of 2009, the Company distributed to GBL shareholders 14.930 shares of Teton class B stock for every 1,000 shares of GBL held on the record date. in September 2009, Teton began trading under the symbol TETAA on the Pink Sheets.

– The Gabelli Prize was awarded to Richard H. Thaler, Ph. D., a professor of behavioral finance at the University of Chicago’s Graduate School of Business. Dr. Thaler is the fifth recipient of the Gabelli Prize for Graham & Dodd, Murray, Greenwald Award for Value Investing. The Gabelli Prize was launched to honor individual contributions which serve the goals of refining, extending, and disseminating the practice of Value Investing.

– GAMCO, under the aegis of Bruce C. Greenwald, the Heilbrunn Professor of Finance and Asset Management at Columbia Graduate School of Business, along with the Heilbrunn Center for Graham and Dodd Investing at Columbia University, hosted the 19th Annual Graham and Dodd Investing Seminar on October 7, 2009 in New York which was telecast to London and Hong Kong and staffed by our Gabelli international offices.

– during 2009, The Gabelli Global Gold, Natural Resources & Income Trust raised $212 million in secondary offerings.

– Open-end equity funds raised $570 million in net AUM during 2009.

– during the 4th Quarter 2009, the Private Wealth Management business added two new GAMCO institutional accounts which drove the increase in AUM.

Other Financial Highlights

Statement of Financial Condition — Liquidity and Flexibility

Our liquid balance sheet provides access to financial markets and the flexibility to opportunistically add operating resources to our firm, repurchase our stock and consider strategic initiatives, including acquisitions and lift-outs. We have a BBB rating from Standard & Poor’s and a Baa2 rating from Moody’s.

The Company’s shelf registration provides GAMCO with the flexibility of issuing any combination of senior and subordinate debt securities, convertible debt securities and equity securities (including common and preferred securities) up to a total amount of $400 million.

We ended the quarter with approximately $640.6 million in cash and investments versus $702.2 million at September 30, 2009. The decline was driven by the special dividend paid to shareholders discussed below. This balance included approximately $83.4 million of our investments in The Gabelli Dividend & Income Trust, The Gabelli Global Deal Fund and Westwood Holdings Group, as well as other investments of $13.3 million, all classified as available for sale securities.

Our debt at December 31, 2009 consisted of $99 million of 5.5% senior notes due May 2013, a $40 million 6% convertible note due August 2011 and a $60 million 6.5% convertible note due October 2018. We had adjusted cash and investments in securities, net of debt, noncontrolling interest and mandatorily redeemable shares, of $15.75 per share on December 31, 2009 compared with $17.97 per share on September 30, 2009. We caution that this metric, while correct from a mathematical point of view, is not always the same as investors would view cash-on-hand. during December 2009 we paid out a special dividend of $2.00 per share, or $55.2 million.

Book value was $448.0 million or $16.23 per share on December 31, 2009 compared to $482.0 million or $17.44 per share on September 30, 2009.

Shareholder Compensation

On November 6, 2009, our Board of Directors declared a special dividend of $2.00 per share to all of its Class a and Class B shareholders, payable on December 15, 2009 to shareholders of record on December 1, 2009 and a quarterly dividend of $.03 per share to all of its Class a and Class B shareholders, payable on December 29, 2009 to shareholders of record on December 15, 2009. during the fourth quarter of 2008 we paid a special dividend of $0.90 per share. We returned $56.0 million and $25.8 million in dividends during the fourth quarter of 2009 and 2008, respectively, and $58.8 million and $56.2 million in dividends during 2009 and 2008, respectively.

In accordance with the debt agreement regarding the $60 million 6.5% convertible note, as the dividends paid within the last twelve months have exceeded $1.12 per share the conversion price on the note changed from $70 per share to $66.89 per share. The $53 per share conversion on the 2011 note was unchanged.

GAMCO announced that on February 9, 2010 its Board of Directors declared a quarterly dividend of $.03 per share to all of its Class a and Class B shareholders, payable on March 30, 2010 to shareholders of record on March 16, 2010.

Stockholders’ Equity and Stock Repurchase

In the fourth quarter of 2009, the Company repurchased 37,100 of the Company’s shares at an average investment of $43.86. for the year ended December 31, 2009, the Company has repurchased $7.0 million, representing 156,500 shares, at an average outlay of $44.91 per share.

Since our IPO of six million shares at a price of $17.50 per share in 1999, the Company has repurchased 6,209,083 shares at an average price of $39.90 per share for an investment of $248 million and has paid cumulative dividends of $204.2 million or $7.25 per share.

Shares outstanding on December 31, 2009 were 27.6 million, roughly the same as September 30, 2009 and 0.4% below the 27.7 million shares outstanding on December 31, 2008. The decline in the outstanding shares from December 2008 to December 2009 primarily reflects open market repurchases. Fully diluted shares outstanding for the fourth quarter of 2009 were 29.1 million, an increase from the third quarter 2009’s level of 27.5 million and fourth quarter 2008’s level of 27.5 million, largely due to the Convertible notes being dilutive in the current quarter. Fully diluted shares outstanding for the full year 2009 were 28.2 million, an increase from the full year 2008’s level of 27.8 million.

At December 31, 2009, the company had 360,100 shares of restricted stock held by our officers and staff. Such restricted stock awards vest over the next four years. The Chairman does not hold any restricted stock.

NOTES ON NON-GAAP FINANCIAL MEASURES

A. 12/31/09 12/31/08 Cash and cash equivalents 400.5 $ 338.3 Investments (trading) 113.8 209.5 Total cash and investments (trading) 514.3 547.8 Net amounts receivable from/(payable to) brokers 29.7 14.6 Adjusted cash and investments (trading) 544.0 562.4 Investments (available for sale) 96.7 76.1 Total adjusted cash and investments $ 640.7 $ 638.5 We believe adjusted cash and investments is a more useful measure of the company’s liquidity for analytical purposes. Net amounts receivable from/(payable to) brokers reflect cash and cash equivalents held with brokers and cash payable for securities purchased and recorded on a trade date basis for which settlement occurs subsequent to period-end.B. Operating income before management fee expense is used by management for purposes of evaluating its business operations. We believe this measure is useful in illustrating the operating results of GAMCO Investors, inc. (the “Company”) as management fee expense is based on pre-tax income before management fee expense, which includes non-operating items including investment gains and losses from the Company’s proprietary investment portfolio and interest expense. The reconciliation of operating income before management fee expense to operating income is provided in Table VI.

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION

Our disclosure and analysis in this press release contain some forward-looking statements. Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements because they do not relate strictly to historical or current facts. they use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning. they also appear in any discussion of future operating or financial performance. in particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial results. although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, there can be no assurance that our actual results will not differ materially from what we expect or believe. Some of the factors that could cause our actual results to differ from our expectations or beliefs include, without limitation: the adverse effect from a decline in the securities markets; a decline in the performance of our products; a general downturn in the economy; changes in government policy or regulation; changes in our ability to attract or retain key employees; and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations. We also direct your attention to any more specific discussions of risk contained in our Form 10-K and other public filings. We are providing these statements as permitted by the Private Litigation Reform Act of 1995. We do not undertake to update publicly any forward-looking statements if we subsequently learn that we are unlikely to achieve our expectations or if we receive any additional information relating to the subject matters of our forward-looking statements.

The Company reported Assets under Management as follows (millions):Table I: Fund Flows – 4th Quarter 2009(millions) September 30, Closed-end Fund Net Cash Market December 31, 2009 distributions, Flows (a) Appreciation 2009 net of reinvestmentsEquities:Open-end Funds $ 7,906 $ – $ 228 $ 342 $ 8,476Closed-end Funds 4,369 (76 ) 97 219 4,609Institutional & PWM – direct 8,491 – 398 423 9,312Institutional & PWM – sub-advisory 1,777 – 44 76 1,897Investment Partnerships 291 – 7 7 305Total Equities 22,834 (76 ) 774 1,067 24,599Fixed Income:Money-Market Fund 1,616 – 104 1 1,721Institutional & PWM 26 – - – 26Total Fixed Income 1,642 – 104 1 1,747Total Assets under Management $ 24,476 $ (76 ) $ 878 $ 1,068 $ 26,346(a) Includes $99 million of shares issued for closed-end funds. Table I: Fund Flows – Full Year 2009 (millions) December 31, Closed-end Fund Net Cash Market December 31, 2008 distributions, Flows (a) Appreciation 2009 net of reinvestmentsEquities:Open-end Funds $ 6,139 $ – $ 570 $ 1,767 $ 8,476Closed-end Funds 3,792 (318 ) 209 926 4,609Institutional & PWM – direct 6,861 – 310 2,141 9,312Institutional & PWM – sub-advisory 1,585 – (183 ) 495 1,897Investment Partnerships 295 – (25 ) 35 305Total Equities 18,672 (318 ) 881 5,364 24,599Fixed Income:Money-Market Fund 1,507 – 210 4 1,721Institutional & PWM 22 – 4 – 26Total Fixed Income 1,529 – 214 4 1,747Total Assets under Management $ 20,201 $ (318 ) $ 1,095 $ 5,368 $ 26,346(a) Includes $208 million of shares issued for closed-end funds.Note: Teton’s AUM at December 31, 2008 were $450 million and havebeen excluded from Table I. Table II:Equities: December 31, December 31, % 2008 2009 inc.(Dec.)Open-end Funds $ 6,139 $ 8,476 38.1 %Closed-end Funds 3,792 4,609 21.5Institutional & PWM – direct 6,861 9,312 35.7Institutional & PWM – sub-advisory 1,585 1,897 19.7Investment Partnerships 295 305 3.4Total Equities 18,672 24,599 31.7Fixed Income:Money-Market Fund 1,507 1,721 14.2Institutional & PWM 22 26 18.2Total Fixed Income 1,529 1,747 14.3Total Assets under Management $ 20,201 $ 26,346 30.4 %Note: Teton’s AUM at December 31, 2008 were $450 million and havebeen excluded from Table II. Table III: Assets under Management By Quarter (millions) % Increase/ (decrease) fromEquities: 12/08 3/09 6/09 9/09 12/09 12/08 9/09Open-end Funds $ 6,139 $ 5,627 $ 6,684 $ 7,906 $ 8,476 38.1 % 7.2 %Closed-end Funds 3,792 3,359 3,822 4,369 4,609 21.5 5.5Institutional & PWM – direct 6,861 6,227 7,332 8,491 9,312 35.7 9.7Institutional & PWM – sub-advisory 1,585 1,202 1,476 1,777 1,897 19.7 6.8Investment Partnerships 295 265 266 291 305 3.4 4.8Total Equities 18,672 16,680 19,580 22,834 24,599 31.7 7.7Fixed Income:Money-Market Fund 1,507 1,794 1,765 1,616 1,721 14.2 6.5Institutional & PWM 22 21 21 26 26 18.2 -Total Fixed Income 1,529 1,815 1,786 1,642 1,747 14.3 6.4Total Assets under Management $ 20,201 $ 18,495 $ 21,366 $ 24,476 $ 26,346 30.4 % 7.6 %Note: Teton’s AUM at December 31, 2008 were $450 million and havebeen excluded from Table III. Table IVGAMCO INVESTORS, INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME(Dollars in thousands, except per share data) for the Three Months ended December 31, 2009 2008 % inc. (Dec.)Investment advisory and incentive fees $ 66,568 $ 40,024 66.3 %Institutional research services 4,528 5,111 (11.4 )Distribution fees and other income 6,906 4,925 40.2Total revenues 78,002 50,060 55.8Compensation costs 30,803 19,828 55.4Distribution costs 7,245 5,398 34.2Other operating expenses 5,300 7,775 (31.8 )Total expenses 43,348 33,001 31.4Operating income before management fee 34,654 17,059 103.1Investment income / (loss) 3,325 (36,308 ) n/mInterest expense (3,325 ) (3,146 ) 5.7Other expense, net – (39,454 ) n/mIncome / (loss) before management fee and income taxes 34,654 (22,395 ) n/mManagement fee expense / (reversal) 3,467 (2,221 ) n/mIncome / (loss) before income taxes 31,187 (20,174 ) n/mIncome taxes expense / (benefit) 11,727 (7,559 ) n/mNet income / (loss) 19,460 (12,615 ) n/mNet income / (loss) attributable to the noncontrolling interests 106 (551 ) n/mNet income / (loss) attributable to GAMCO Investors, inc. $ 19,354 $ (12,064 ) n/mNet income attributable to GAMCO Investors, inc. per share:Basic $ 0.71 $ (0.44 ) n/mDiluted $ 0.70 $ (0.44 ) n/mWeighted average shares outstanding:Basic 27,256 (a) 27,472 (0.8 )Diluted 29,085 27,482 5.8 %Notes:(a) Shares outstanding at December 31, 2009 were 27,604,914,including 360,100 RSAs.See GAAP to Non-GAAP reconciliation at page 17. Table VGAMCO INVESTORS, INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME(Dollars in thousands, except per share data) for the Years ended December 31, 2009 2008 % inc. (Dec.)Investment advisory and incentive fees $ 178,713 $ 204,293 (12.5 %)Institutional research services 16,715 16,129 3.6Distribution fees and other income 22,686 24,590 (7.7 )Total revenues 218,114 245,012 (11.0 )Compensation costs 92,859 102,840 (9.7 )Distribution costs 24,339 25,090 (3.0 )Other operating expenses 18,948 27,979 (32.3 )Total expenses 136,146 155,909 (12.7 )Operating income before management fee 81,968 89,103 (8.0 )Investment income / (loss) 28,983 (39,163 ) n/mInterest expense (13,290 ) (9,441 ) 40.8Other income / (expense), net 15,693 (48,604 ) n/mIncome before management fee and income taxes 97,661 40,499 141.1Management fee expense 9,758 4,086 138.8Income before income taxes 87,903 36,413 141.4Income taxes expense 31,761 12,323 157.7Net income 56,142 24,090 133.1Net income / (loss) attributable to the noncontrolling interests 609 (776 ) n/mNet income attributable to GAMCO Investors, inc. $ 55,533 $ 24,866 123.3Net income attributable to GAMCO Investors, inc. per share:Basic $ 2.03 $ 0.89 128.1Diluted $ 2.02 $ 0.89 127.0Weighted average shares outstanding:Basic 27,345 (a) 27,805 (1.7 )Diluted 28,214 27,841 1.3 %Notes:(a) Shares outstanding at December 31, 2009 were 27,604,914,including 360,100 RSAs.See GAAP to Non-GAAP reconciliation at page 17. Table VIGAMCO INVESTORS, INC.UNAUDITED QUARTERLY CONDENSED CONSOLIDATED STATEMENTS OF INCOME(Dollars in thousands, except per share data) 2009 2008 1st 2nd 3rd 4th Full-Year 1st 2nd 3rd 4th Full-Year Quarter Quarter Quarter Quarter Quarter Quarter Quarter QuarterIncome Statement Data:Revenues $ 43,359 $ 45,171 $ 51,582 $ 78,002 $ 218,114 $ 66,548 $ 65,424 $ 62,980 $ 50,060 $ 245,012Expenses 30,508 30,206 32,084 43,348 136,146 41,310 41,631 39,967 33,001 155,909Operating income before management fee 12,851 14,965 19,498 34,654 81,968 25,238 23,793 23,013 17,059 89,103Investment income / (loss) 3,870 11,531 10,257 3,325 28,983 (3,615 ) 4,206 (3,446 ) (36,308 ) (39,163 )Interest expense (3,234 ) (3,435 ) (3,296 ) (3,325 ) (13,290 ) (2,017 ) (2,187 ) (2,091 ) (3,146 ) (9,441 )Other income / (expense), net 636 8,096 6,961 – 15,693 (5,632 ) 2,019 (5,537 ) (39,454 ) (48,604 )Income/(loss) before manage- 13,487 23,061 26,459 34,654 97,661 19,606 25,812 17,476 (22,395 ) 40,499ment fee and income taxesManagement fee 1,349 2,304 2,638 3,467 9,758 1,981 2,586 1,740 (2,221 ) 4,086expense/(reversal)Income/(loss) before income 12,138 20,757 23,821 31,187 87,903 17,625 23,226 15,736 (20,174 ) 36,413taxesIncome tax expense/(benefit) 3,988 7,133 8,913 11,727 31,761 7,326 8,719 3,837 (7,559 ) 12,323Net income/(loss) 8,150 13,624 14,908 19,460 56,142 10,299 14,507 11,899 (12,615 ) 24,090Net income/(loss) attributableto the noncontrolling interests (62) 308 257 106 609 (187 ) 48 (86 ) (551 ) (776 )Net income/(loss) attributable to GAMCO Investors, inc. $ 8,212 $ 13,316 $ 14,651 $ 19,354 $ 55,533 $ 10,486 $ 14,459 $ 11,985 $ (12,064 ) $ 24,866Net income/(loss) attributable toGAMCO Investors, inc. per share:Basic $ 0.30 $ 0.49 $ 0.54 $ 0.71 $ 2.03 $ 0.37 $ 0.52 $ 0.43 $ (0.44 ) $ 0.89Diluted $ 0.30 $ 0.48 $ 0.53 $ 0.70 $ 2.02 $ 0.37 $ 0.51 $ 0.43 $ (0.44 ) $ 0.89Weighted average shares outstanding:Basic 27,379 27,384 27,366 27,256 27,345 28,175 27,948 27,602 27,472 27,805Diluted 27,386 27,508 27,505 29,085 28,214 28,277 28,743 27,647 27,482 27,841Reconciliation of Non-GAAPFinancial measures to GAAP:Operating income before management fee 12,851 14,965 19,498 34,654 81,968 25,238 23,793 23,013 17,059 89,103Deduct: management fee expense/(income) 1,349 2,304 2,638 3,467 9,758 1,981 2,586 1,740 (2,221 ) 4,086Operating income 11,502 12,661 16,860 31,187 72,210 23,257 21,207 21,273 19,280 85,017Operating margin before management fee 29.6 % 33.1 % 37.8 % 44.4 % 37.6 % 37.9 % 36.4 % 36.5 % 34.1 % 36.4 %Operating margin after management fee 26.5 % 28.0 % 32.7 % 40.0 % 33.1 % 34.9 % 32.4 % 33.8 % 38.5 % 34.7 % Table VIIGAMCO INVESTORS, INC.UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIALCONDITION(Dollars in thousands, except per share data) December 31, December 31, 2009 2008ASSETSCash and cash equivalents (a) $ 400,528 $ 338,330Investments (a) 220,057 287,201Receivable from brokers 30,072 16,460Other receivables 41,915 16,233Income tax receivable and deferred tax assets – 23,952Other assets 15,237 15,458Total assets $ 707,809 $ 697,634LIABILITIES AND STOCKHOLDERS’ EQUITYPayable to brokers $ 395 $ 1,857Compensation payable 13,302 15,862Securities sold short, not yet purchased 9,569 1,677Accrued expenses and other liabilities 32,157 30,330Sub-total 55,423 49,7265.5% Senior notes (due May 15, 2013) 99,000 99,0006.5% Convertible note (due October 2, 2018) 60,000 60,0006% Convertible note (due August 14, 2011) 39,851 39,766Total debt 198,851 198,766Total liabilities 254,274 248,492Redeemable noncontrolling interest 1,464 4,201GAMCO Investors, inc.’s stockholders’ equity 448,028 440,153Noncontrolling interest 4,043 4,788Total stockholders’ equity 452,071 444,941Total liabilities and stockholders’ equity $ 707,809 $ 697,634 (a) At December 31, 2009 and December 31, 2008, $62.3 million and $0 million and $7.2 million and $54.9 million are held in escrow for the Cascade Note and classified as Cash and cash equivalents and Investments, respectively. GABELLI/GAMCO FUNDS Gabelli Funds Lipper Rankings as of December 31, 2009 1 Yr – 12/31/08-12/31/09 3 Yrs – 12/31/06-12/31/09 5 Yrs – 12/31/04-12/31/09 10 Yrs – 12/31/99-12/31/09Fund name Lipper Category Percentile Rank / Percentile Rank / Percentile Rank / Percentile Rank / Rank Total Funds Rank Total Funds Rank Total Funds Rank Total FundsGabelli Asset; AAA Multi-Cap Core Funds 53 419/795 21 139/683 12 61/519 23 51/223Gabelli Value Fund; a Multi-Cap Core Funds 15 113795 71 480/683 68 349/519 44 98/223Gabelli SRI; AAA Multi-Cap Core Funds 1 4/795 – - – - – -Gabelli Eq:Eq inc; AAA Equity Income Funds 12 36/299 22 53/246 20 37/189 14 14/104GAMCO Ww:Income; AAA Equity Income Funds 76 226/299 64 158/246 – - – -GAMCO Growth; AAA Large-Cap Growth Funds 9 69/814 45 311/702 29 165/582 69 213/310GAMCO Ww:SmCp Eq; AAA Small-Cap Core Funds 7 46/756 34 214/631 18 94/522 97 261/269Gabelli Eq:SC Gro; AAA Small-Cap Core Funds 49 366/756 15 91/631 17 84/522 22 59/269GAMCO Ww:Mhty M; AAA Small-Cap Core Funds 61 460/756 5 30/631 5 24/522 26 70/269Gabelli Eq:Wd SCV; AAA Small-Cap Core Funds 52 392/756 38 236/631 50 260/522 – -GAMCO Gl:Oppty; AAA Global Large-Cap Growth 34 35/102 22 16/75 15 8/56 34 12/35GAMCO Gl:Growth; AAA Global Large-Cap Growth 9 9/102 14 10/75 23 13/56 95 34/35GAMCO Gold; AAA Gold Oriented Funds 34 24/71 49 29/59 39 20/51 27 8/29GAMCO Intl Gro; AAA International Large-Cap Growth 26 42/166 40 52/131 72 66/91 42 23/54GAMCO Ww:Eqty; AAA Large-Cap Value Funds 98 513/527 16 73/461 5 17/394 37 68/186Gabelli Bl Chp Val; AAA Large-Cap Core Funds 25 228/911 40 304/777 23 146/653 20 72/374Gabelli Inv:ABC; AAA Specialty Diversified Equity Funds 63 27/42 12 4/33 13 2/15 30 3/9GAMCO Mathers; AAA Specialty Diversified Equity Funds 77 33/42 30 10/33 38 6/15 50 5/9Comstock Cap Val; a Specialty Diversified Equity Funds 91 39/42 21 7/33 82 13/15 70 7/9GAMCO Gl:Telecom; AAA Telecommunications Funds 63 28/44 20 7/35 25 7/27 20 2/9GAMCO Gl:Convert; AAA Convertible Securities Funds 29 18/62 95 49/51 94 46/48 98 37/37Gabelli Utilities; AAA Utility Funds 39 39/99 13 11/89 34 25/73 27 12/45GAMCO Ww:Bal – AAA Mixed-Asset Target Alloc. Moderate Funds 97 491/509 46 188/412 14 43/311 17 25/148787:Gabelli Merg&Acq Y Mid-Cap Core Funds 90 330/369 18 52/303 28 66/241 – -Gabelli Capital Asset Fund Distributed through Insurance Channel 14 48/343 45 124/276 45 91/202 15 12/82% of funds in top half 56.0% 87.5% 82.6% 76.2%

Data presented reflects past performance, which is no guarantee of future results. Strong rankings are not indicative of positive fund performance. Absolute performance for some funds was negative. other share classes are available which may have different performance characteristics.

Lipper, a wholly-owned subsidiary of Reuters, provides independent insight on global collective investments including mutual funds, retirement funds, hedge funds, fund fees and expenses to the asset management and media communities. Lipper ranks the performance of mutual funds within a classification of funds that have similar investment objectives. Rankings are historical with capital gains and dividends reinvested and do not include the effect of loads. If an expense waiver was in effect, it may have had a material effect on the total return or yield for the period.

Relative long-term investment performance remained strong with approximately 56%, 88%, 83% and 76% of firmwide mutual funds in the top half of their Lipper categories on a one-, three-, five-, and ten-year total-return basis, respectively, as of December 31, 2009.

Investors should consider carefully the investment objective, risks, charges and expenses of a fund before investing. The Prospectus which contains more information about this and other matters, should be read carefully before investing. You can obtain a prospectus by calling 1-800 GABELLI. Distributed by Gabelli & Company. other share classes are available that have different performance characteristics.

The inception date for the Gabelli SRI Green Fund was June 1, 2007. The inception date for the Gabelli Woodland Small Cap Value Fund was December 31, 2002. The inception date for the Gabelli Enterprise Mergers & Acquisitions Fund was February 28, 2001.

SOURCE: GAMCO Investors, inc.

GAMCO Investors, inc. Jeffrey M. Farber, 914-921-5147 Executive Vice-President and Chief Financial Officer www.gabelli.com

Copyright Business Wire 2010

GAMCO Reports 4th Quarter 2009 Fully Diluted Earnings of $0.70 Per Share