Gabelli Asset Management Inc. is a provider of investment advisory and brokerage services to mutual fund, institutional and high-net-worth investors, primarily in the United States. The Company generally manages assets on a discretionary basis and invests in a variety of United States and international securities through various investment styles. As of December 31, 2002, Gabelli had approximately $21.2 billion of assets under management, 88% of which were invested in equity securities. The Companys assets under management are organized principally in three groups: Separate Accounts, which include assets in approximately 1,750 separate accounts; Mutual Funds, which include management of assets in open-end and close-end funds, and Partnerships, which include alternative investment products.