General American Investors Co. Inc. : Issue Price ($29.06) of Common Shares to be Issued for Special Dividend and Distribution

For: General American Investors Company, Inc.
100 Park Avenue
New York, New York 10017
Company Contact: Eugene S. Stark January 11, 2013
Vice-President, Administration
[phone] For Immediate Release

GENERAL AMERICAN INVESTORS ANNOUNCES: ISSUE PRICE FOR THE 2012 YEAR-END SPECIAL DIVIDEND AND DISTRIBUTION PAYABLE ON JANUARY 31, 2013

NEW YORK - Jan. 11 - General American Investors Company, Inc. (NYSE symbol - GAM), a closed-end investment company, announced that the price at which shares of its common stock will be issued to stockholders who elected to receive additional shares in payment of the 2012 year-end special dividend and distribution on its common stock will be $29.06 per share. The issue price represents the average between the high and the low prices on the New York Stock Exchange on January 11, 2013, which was below the net asset value of $33.78 per share on that date. The dividend and distribution is payable on January 31, 2013. As announced on December 12, 2012, the dividend and distribution amounts to $0.60 per share in the aggregate and consist of: