The GDL Fund – Our U.S. Closed-End Arbitrage Fund in the Gabelli Family Names Willis Brucker and Gian Maria Magrini as Portfolio Managers

RYE, N.Y.–(BUSINESS WIRE)–GAMCO Investors, Inc., (NYSE: GBL) announced the appointment of Willis Brucker and Gian Maria Magrini to the investment team of the GDL Fund effective immediately. Willis Brucker and Gian Maria Magrini will join Mario J. Gabelli, who has been the portfolio manager of the Fund since its launch on January 26, 2007.

Commenting on the appointments, Mr. Gabelli said, “We are delighted to have Willis and Gian Maria join the GDL investment team. They will make a value added addition to our team to find investments that meet the objectives of (y)our Fund.”

Mr. Brucker is a portfolio manager and global merger arbitrage analyst with 15 years’ experience analyzing and investing in global merger transactions and special situations. He joined GAMCO Investors, Inc. in 2004 as a research analyst after graduating from the Boston College Carroll School of Management with a B.S. in Finance and Corporate Reporting and Analysis.

Mr. Magrini, CFA, serves as a portfolio manager for Gabelli Funds, LLC. Mr. Magrini is an analyst dedicated to the Gabelli merger arbitrage portfolios specific to our U.S. open and closed funds and also serves as Co-Portfolio Manager to the Gabelli Go Anywhere Trust. He joined Gabelli in 2011, after graduating from Fordham University with a B.S. in Finance.

The GDL Fund is a diversified, closed-end management investment company with $311 million in total net assets whose investment objective is to achieve absolute returns in various market conditions without excessive risk of capital. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL).

Investors should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing. More information regarding this and other information about the Fund is available by calling 800-GABELLI (800-422-3554) or visiting www.gabelli.com.

Contacts

Agnes Mullady Senior Vice President (914) 921-5070

For further information please visit www.gabelli.com

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