UPDATE - Gabelli Funds Presents Talkin’ ‘Bout 3 Generations of Dinsmore Convertible Management

Gabelli Funds is pleased to present a video tracing the 50+ year history of the oldest, existing closed-end fund specializing in convertible securities.

Ronald Dinsmore founded the Bancroft Fund in 1971. Mr. Dinsmore was a pioneer in the closed-end fund business before passing away in 1996. Since inception, three generations of Dinsmores have led the Fund’s portfolio management team. The current management team includes Ronald’s son, Thomas Dinsmore, and grandson, James Dinsmore.

Why investors are attracted to closed-end funds, trading at discounts wider than average.In a conversation with Laurissa Martire, Senior Vice President of Gabelli Funds, James Dinsmore talks about the potential buying opportunities of closed-end funds, distribution policies, and the enhanced compounding effect of reinvesting distributions when a fund is trading at a discount.

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About GAMCO Investors, Inc. (“GAMI”)

GAMI is known for its research-driven value approach to equity investing (known as PMV with a Catalyst™). GAMI conducts its investment advisory business principally through two subsidiaries: Gabelli Funds, LLC (24 open-end funds, 14 closed-end funds, 5 actively managed semi-transparent ETFs, and a SICAV) and GAMCO Asset Management Inc. (approximately 1,400 institutional and private wealth separate accounts, principally in the U.S.). GAMI serves a broad client base including institutions, intermediaries, offshore investors, private wealth, and direct retail investors. In recent years, GAMI has successfully integrated new teams of RIAs by providing attractive compensation arrangements and extensive research capabilities.

Gabelli Funds offers a wide range of solutions for clients across Value and Growth Equity, SRI, Convertibles, sector-focused strategies including Gold and Utilities, Merger Arbitrage, and 100 % U.S. Treasury Money Market Funds.

NYSE American:BCV, NYSE American:ECF, NYSE:GCV, NYSE:GAB, NYSE:GGT, NYSE:GUT, NYSE:GDV, NYSE:GDL, NYSE:GRX, NYSE:GGZ, NYSE:GNT, NYSE American:GLU, NYSE American:GGN  

Investor Relations Contact:

Laurissa Martire

[phone]

[e-mail]