Stock Exchange Announcement

Gabelli Associates Limited (the "Fund")

(Re: Roll-Up of Shares)

The Board of Directors (the "Board") of the Fund wishes to announce that it has applied to the Irish Stock Exchange to delist the following series shares (the "Shares") of the Fund from the Official List and from trading on the Main Securities Market of the Exchange.

Class A Shares-Series 0211

Class A Shares-Series 0311

Class A Shares-Series 0411

Class A Shares-Series 0511

Class A Shares-Series 0611

Class A Shares-Series 0911

Class A Shares-Series 1011

Class B Shares-Series 0211

Class B Shares-Series 0511

Class B Shares-Series 0811

Class B Shares-Series 1111

Class B Shares-Series 1211

The delisting is being sought as the Shares have been rolled and converted into the Class A Shares and Class B Shares.

Application has been made for the Shares of the Fund to be removed from the Official List and from trading on the Main Securities Market of the Irish Stock Exchange and the Exchange has agreed that the Shares be delisted with effect from today.

Enquiries:

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange