Gabelli Reports Positive Net Cash Flows for First Quarter

    RYE, N.Y., April 3 /PRNewswire/ -- Gabelli Asset Management Inc.
 (NYSE:   GBL) reported today that it had positive net cash flows of
 approximately $1.5 billion during the first quarter of 2001, 78% higher than
 net cash flows of $849 million reported in the first quarter of 2000.
     Assets under management at March 31, 2001 were approximately $23.7 billion
 as compared to $23.6 billion at December 31, 2000 and $23.0 billion at
 March 31, 2000.
     The Company also announced that Mario J. Gabelli, Chairman and CEO, is
 scheduled to address the Putnam Lovell Securities, Inc., Financial Services
 conference on April 3rd at 10:00a.m. EDT.  Mr. Gabelli's remarks will be
 webcast live via the Internet.
     More information, including the Company's earnings release, is expected to
 be reported during the last week in April.
 
     Gabelli Asset Management Inc., through its subsidiaries, provides
 investment advisory and brokerage services to mutual fund, institutional and
 high net worth investors through a broad range of open and closed end mutual
 funds, partnerships and separate advisory accounts.
 
     Forward-Looking Information
     This press release contains forward-looking statements about future
 operations, results and performance, which involve risks and uncertainties
 that may cause the actual operations, results or performance to differ
 materially from those expressed in or implied by the forward-looking
 statements.  These risks and uncertainties include the performance of the
 securities markets and the Company's investment products, future economic
 conditions, changes in business strategy and other factors.  Consequently, no
 assurance can be given as to future operations, results or performance, and
 neither the Company nor any other person assumes liability for the accuracy
 and completeness of the forward-looking statements in this press release.
 
 

SOURCE  Gabelli Asset Management Inc.

    RYE, N.Y., April 3 /PRNewswire/ -- Gabelli Asset Management Inc.
 (NYSE:   GBL) reported today that it had positive net cash flows of
 approximately $1.5 billion during the first quarter of 2001, 78% higher than
 net cash flows of $849 million reported in the first quarter of 2000.
     Assets under management at March 31, 2001 were approximately $23.7 billion
 as compared to $23.6 billion at December 31, 2000 and $23.0 billion at
 March 31, 2000.
     The Company also announced that Mario J. Gabelli, Chairman and CEO, is
 scheduled to address the Putnam Lovell Securities, Inc., Financial Services
 conference on April 3rd at 10:00a.m. EDT.  Mr. Gabelli's remarks will be
 webcast live via the Internet.
     More information, including the Company's earnings release, is expected to
 be reported during the last week in April.
 
     Gabelli Asset Management Inc., through its subsidiaries, provides
 investment advisory and brokerage services to mutual fund, institutional and
 high net worth investors through a broad range of open and closed end mutual
 funds, partnerships and separate advisory accounts.
 
     Forward-Looking Information
     This press release contains forward-looking statements about future
 operations, results and performance, which involve risks and uncertainties
 that may cause the actual operations, results or performance to differ
 materially from those expressed in or implied by the forward-looking
 statements.  These risks and uncertainties include the performance of the
 securities markets and the Company's investment products, future economic
 conditions, changes in business strategy and other factors.  Consequently, no
 assurance can be given as to future operations, results or performance, and
 neither the Company nor any other person assumes liability for the accuracy
 and completeness of the forward-looking statements in this press release.
 
 SOURCE  Gabelli Asset Management Inc.