Gabelli to Offer Green Fund

Reuters

Renamed SRI Green Fund Adds New Focus; Enhanced Strategy Starts March 17
RYE, N.Y.--(Business Wire)--

GAMCO Investors, Inc. (NYSE: GBL) today announced that the Board of Directors
(the "Board") of The Gabelli SRI Fund, Inc. (the "Fund"), approved a broadened
"green investing" focus for the Fund through the addition of sustainability
criteria. The Board also approved a name change to Gabelli SRI Green Fund, Inc.

The Fund started investing in June 2007 with an investment objective to seek
capital appreciation through a strategy of investing in companies that act in a
socially responsible manner. Going forward, the Fund will invest at least 80% of
its assets in companies that meet both socially responsible screens as well as
sustainability criteria encompassing green investing. The name change and
enhanced strategy will take effect March 17, 2009.

John M. Segrich, CFA, who heads the Gabelli Green research team, will join
Christopher C. Desmarais as co-portfolio manager for the Gabelli SRI Green Fund.
Mr. Segrich rejoined the Gabelli organization in 2008 and brings his years of
institutional research experience to the Fund.

Commenting on the strategy, Mr. Segrich said, "Green companies around the world
are addressing sustainability issues such as Climate Change, Energy Security and
Independence, Natural Resource Shortages, Organic Living, and Urbanization
through innovative products and services. Moreover, we believe these issues are
accompanied by a series of Economic, Social, and Political (ESP) changes that
have significant global impact and should not be ignored by companies,
investors, or individuals."

Mr. Segrich continued, "Already we have seen the emergence of hundreds of new
companies, as well as the repositioning of existing ones, in the following
subsectors: clean power generation, energy storage, recycling and waste, water,
energy efficiency, transportation solutions, smart grid and distribution,
carbon, forestry, agriculture, and medicine. It is the potential represented by
these trends that we will seek to tap for our investors."

Mr. Desmarais added, "By incorporating sustainability issues into our investment
process and investing in those companies that meet the enhanced criteria, we
believe that we can create value for clients in a socially responsible manner."

GAMCO has a 20+ year history of socially responsible investing, starting in
1987. GAMCO`s SRI roster now includes foundations, endowments, and family
offices. GAMCO also manages a socially responsible investment partnership that
was introduced in 2005.

Gabelli Funds, LLC, the investment adviser to the Fund, is a subsidiary of GAMCO
Investors, Inc., which manages through its subsidiaries more than $20 billion in
assets of mutual funds, closed end funds, partnerships and private advisory
accounts as of 12/31/08.

The Fund`s share price will fluctuate with changes in the market value of the
Fund`s portfolio securities. Stocks are subject to market, economic, and
business risks that cause their prices to fluctuate. When you sell Fund shares,
they may be worth less than what you paid for them. Consequently, you can lose
money by investing in the Fund.

Foreign securities are subject to currency, information, and political risks.
The Fund is subject to the risk that the portfolio securities` private market
values may never be realized by the market, or that the portfolio securities`
prices decline.

The Fund is also subject to the risk that the portfolio manager`s assessment of
the values of the securities the Fund holds may be incorrect, which may result
in a decline in the value of Fund shares. The Fund`s social guidelines as well
as its green investing criteria may cause it to pass up opportunities to buy
securities that may be attractive or cause it to sell securities for reasons at
times or under circumstances that might be unfavorable to the Fund.

Investors should consider carefully the investment objective, risks, charges and
expenses of the fund before investing. The prospectus contains more information
about this and other matters. The prospectus should be read carefully before
investing.