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<P align="center" style="font-size: 10pt"><B>As filed with the
Securities and Exchange Commission on June 23, 2005</B>



<P align="right" style="font-size: 10pt"><B>Registration
No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>



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<P align="center" style="font-size: 14pt"><B>SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549</B>


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<P align="center" style="font-size: 18pt"><B>FORM S-8</B>


<P align="center" style="font-size: 12pt"><B>REGISTRATION STATEMENT UNDER<BR>
THE SECURITIES ACT OF 1933</B>


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<P align="center" style="font-size: 24pt"><B>GABELLI ASSET MANAGEMENT INC.</B>


<DIV align="center" style="font-size: 10pt">(Exact name of Registrant as specified in its charter)</DIV>


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    <TD align="center" valign="top"><B>NEW YORK</B><BR>
(State or other jurisdiction of<BR>
incorporation or organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">6211<BR>
(Primary Standard Industrial<BR>
Classification Code Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">13-4007862<BR>
(I.R.S. Employer<BR>
Identification No.)</TD>
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<P align="center" style="font-size: 10pt"><B>One Corporate Center<BR>
Rye, New York 10580<BR>
(914)&nbsp;921-3700</B><BR>
(Address, Including Zip Code, and Telephone Number, Including Area Code,<BR>
of Registrant&#146;s Principal Executive Offices)



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<P align="center" style="font-size: 10pt"><B>GABELLI ASSET MANAGEMENT INC.<BR>
2002 STOCK AWARD AND INCENTIVE PLAN</B><BR>
(Full title of the Plan)



<P align="center" style="font-size: 10pt"><B>James E. McKee, Esq.<BR>
Vice President, General Counsel and Secretary<BR>
Gabelli Asset Management Inc.<BR>
One Corporate Center<BR>
Rye, New York 10580<BR>
(914)&nbsp;921-3700</B>



<P align="center" style="font-size: 10pt">(Name, Address, Including Zip Code, and Telephone Number,<BR>
Including Area Code, of Agent for Service)



<P align="center" style="font-size: 10pt"><I>Copy to:</I>



<P align="center" style="font-size: 10pt"><B>Richard T. Prins, Esq.<BR>
Gregory A. Fernicola, Esq.<BR>
Skadden, Arps, Slate, Meagher &#038; Flom LLP<BR>
Four Times Square<BR>
New York, New York 10036-6522<BR>
(212)&nbsp;735-3000</B>



<P align="center" style="font-size: 10pt"><B>CALCULATION OF REGISTRATION FEE</B>


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    <TD width="1%">&nbsp;</TD>
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    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
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    <TD nowrap align="left" colspan="23" style="border-bottom: 3px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Proposed Maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
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<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center"><B>Title of Securities</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Offering Price</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Aggregate Offering</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Registration</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>to be Registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Registered (1)</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Per Share</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Price</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Fee</B></TD>
    <TD width="1%">&nbsp;</TD>
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                    <TD valign="top" style="border-top: 2px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Class&nbsp;A Common Stock,
par value $0.001 per
share: Shares subject
to outstanding options
under the 2002 Stock
Award and Incentive
Plan (the &#147;Plan&#148;)
</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="right" valign="top" style="border-top: 2px solid #000000">545,000</TD>
    <TD nowrap valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" valign="top" style="border-top: 2px solid #000000">29.74</TD>
    <TD nowrap valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" valign="top" style="border-top: 2px solid #000000">16,208,750</TD>
    <TD nowrap valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" valign="top" style="border-top: 2px solid #000000">1,907.77</TD>
    <TD nowrap valign="top" style="border-top: 2px solid #000000">(2)</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="23" style="border-top: 3px solid #000000">&nbsp;</TD>
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<TR valign="top">
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">The shares of Class&nbsp;A Common Stock, par value $0.001 per share of Gabelli Asset Management
Inc. shown in the table above consists of 545,000 shares of the 1,500,000 shares of Class&nbsp;A Common
Stock issuable pursuant to the Plan. The maximum number of shares which may be issued under the
Plan are subject to adjustment upon the occurrence of certain events pursuant to
the Plan. Accordingly, pursuant to Rule&nbsp;416 under the Securities Act of 1933 (the &#147;Securities
Act&#148;), this registration statement includes, in addition to the number of shares stated above, an
indeterminate number of shares which may be subject to grant or otherwise issuable after the
occurrence of any such corporate transaction or event.</TD>
</TR>

<TR><TD>&nbsp;</TD></TR>

<TR valign="top">
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">Computed in accordance with Rule 457(h) under the Securities Act. Such computation is based on
the weighted average exercise price of $ 29.74 per share covering 545,000 outstanding options.</TD>
</TR>

</TABLE>



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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>






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<P align="center" style="font-size: 10pt"><B>EXPLANATORY NOTE</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This registration statement registers shares of Class&nbsp;A Common Stock, par value $0.001 per
share (the &#147;Common Stock&#148;), of Gabelli Asset Management Inc., a New York corporation (the
&#147;Company&#148;), issuable under the Gabelli Asset Management Inc. 2002 Stock Award and Incentive Plan
(the &#147;Plan&#148;).


<P align="center" style="font-size: 10pt"><B>PART I</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The documents containing the information specified in Part&nbsp;I of Form S-8 will be sent or given
to employees as specified by Rule&nbsp;428(b)(1) of the Securities Act. Such documents need not be
filed with the U.S. Securities and Exchange Commission (the &#147;Commission&#148;) either as part of this
registration statement or as prospectuses or prospectus supplements pursuant to Rule&nbsp;424 of the
Securities Act. These documents and the documents incorporated by reference in this registration
statement pursuant to Item&nbsp;3 of Part&nbsp;II of this registration statement, taken together, constitute
a prospectus that meets the requirements of Section 10(a) of the Securities Act.


<P align="center" style="font-size: 10pt"><B>PART II</B>



<P align="center" style="font-size: 10pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>



<P align="left" style="font-size: 10pt"><B>Item&nbsp;3. Incorporation of Certain Documents by Reference</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed with the Commission by the registrant, the Company, pursuant to
the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), are incorporated by reference
in this registration statement:


<P>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(1)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of the Company&#146;s Class&nbsp;A Common Stock, par value
$0.001 per share, contained in the Company&#146;s Registration Statement on 8-A filed
with the Commission on January&nbsp;12, 1999 to register such securities under the
Exchange Act, including any amendments or reports filed for the purposes of
updating such description;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(2)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s Annual Report on Form 10-K for the year ended December&nbsp;31,
2004, filed with the Commission on March&nbsp;16, 2005;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(3)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s Quarterly Report on Form 10-Q for the three months ended
March&nbsp;31, 2005, filed with the Commission on May&nbsp;10, 2005;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(4)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s Definitive Proxy Statement on Schedule&nbsp;14A, filed with the
Commission on April&nbsp;25, 2005; and</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(5)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company&#146;s Current Reports on Form 8-K, filed with the Commission on
February&nbsp;28, 2005, March&nbsp;2, 2005 and June&nbsp;15, 2005 and Current Report on Form 8-K/A
filed with the Commission on March&nbsp;7, 2005.</TD>
</TR>

</TABLE>


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed or subsequently filed by the registrant pursuant to Sections&nbsp;13(a), 13(c),
14 or 15(d) of the Exchange Act, after the date of this registration statement and prior to the
filing of a post-effective amendment which indicates that all securities described herein have been
sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated
by reference in this registration statement and to be a part hereof from the date of filing of such
documents with the Commission. Any statement contained in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or superseded for purposes of this
registration statement to the extent that a statement contained herein or in any other subsequently
filed document which also is or is deemed to be incorporated by reference herein modifies or
supersedes such statement. Any such


<P align="center" style="font-size: 10pt">2
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<P align="left" style="font-size: 10pt">statement so modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part of this registration statement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company will provide without charge to each person to whom a copy of this registration
statement is delivered, upon the written or oral request of such person, a copy of any or all of
the documents referred to above which have been or may be incorporated by reference herein (other
than exhibits to such documents unless such exhibits are specifically incorporated by reference in
such documents). Requests for such copies should be directed to: Michael R. Anastasio, Jr., Vice
President and Chief Financial Officer, One Corporate Center, Rye, New York 10580 (telephone (914)
921-3700).


<P align="left" style="font-size: 10pt"><B>Item&nbsp;4. Description of Securities</B>




<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable


<P align="left" style="font-size: 10pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel</B>




<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable


<P align="left" style="font-size: 10pt"><B>Item&nbsp;6. Indemnification of Directors and Officers</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sections&nbsp;721-726 of the New York Business Corporation Law (the &#147;NYBCL&#148;) provide that a
corporation may indemnify its officers and directors (or persons who have served, at the
corporation&#146;s request, as officers or directors of another corporation) against the reasonable
expenses, including attorneys&#146; fees, actually and reasonably incurred by them in connection with
the defense of any action by reason of being or having been directors or officers, if such person
shall have acted in good faith and in a manner he reasonably believed to be in, or not opposed to,
the best interests of the corporation, except that if such action shall be in the right of the
corporation, no such indemnification shall be provided as to any claim, issue or matter as to which
such person shall have been adjudged to have been liable to the corporation unless and only to the
extent that the court in which the action was brought, or, if no action was brought, any court of
competent jurisdiction determines upon application that, in view of all of the circumstances of the
case, the person is fairly and reasonably entitled to indemnification.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The power to indemnify applies to actions brought by or in the right of the corporation as
well, but only to the extent of defense and settlement expenses and not to any satisfaction of a
judgment or settlement of the claim itself, and with the further limitation that in such actions no
indemnification will be made in the event of any adjudication of negligence or misconduct unless
the court, in its discretion, believes that in light of all the circumstances indemnification
should apply.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To the extent any of the persons referred to in the two immediately preceding paragraphs is
successful in the defense of such actions, such person is entitled, pursuant to the laws of the
State of New York, to indemnification as described above.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s Restated Certificate of Incorporation and Amended Bylaws provide for
indemnification to officers and directors of the Company to the fullest extent permitted by the
NYBCL. The Company&#146;s Restated Certificate of Incorporation provides that, to the fullest extent
permitted by the NYBCL, no director of the Company shall be liable to the Company or it
shareholders for monetary damages for the breach of fiduciary duty in such capacity. Under the
NYBCL, such provision does not eliminate or limit the liability of any director (i)&nbsp;if a judgment
or other final adjudication adverse to such director establishes that his acts or omissions were in
bad faith or involved intentional misconduct or a knowing violation of law or that he personally
gained a material profit or other advantage to which he was not legally entitled or that his acts
violated Section&nbsp;719 of the NYBCL or (ii)&nbsp;for any act or omission prior to the adoption of this
provision. As a result of this provision, the Company and its shareholders may be unable to obtain
monetary damages from a director for breach of his duty of care. Although shareholders may continue
to seek injunctive or other equitable relief for an alleged breach of fiduciary duty by a director,
shareholders may not have any effective remedy against the challenged conduct if equitable remedies
are unavailable.


<P align="center" style="font-size: 10pt">3
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<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Amended Bylaws provide that the Company will indemnify any person who was or is a party to
any threatened, pending, or completed action, suit or proceeding because he or she is or was a
director, officer, employee or agent of the Company, or is or was serving at the request of the
Company as a director or officer of another corporation, partnership or other enterprise. The
Amended Bylaws provide that indemnification will be from and against expenses, judgments, fines and
amounts paid in settlement by the indemnitee. However, this indemnification will only be provided
if the indemnitee acted in good faith and in a manner he or she reasonably believed to be in, or
not opposed to, the best interests of the Company, and, with respect to a criminal action or
proceeding, if the indemnitee had no reasonable cause to believe that his or her conduct was
unlawful.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;7. Exemption From Registration Claimed</B>




<P align="left" style="margin-left:3%; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not Applicable


<P align="left" style="font-size: 10pt"><B>Item&nbsp;8. Exhibits</B>


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

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    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Restated Certificate of Incorporation of Gabelli Asset Management Inc. (Incorporated by
reference to Exhibit&nbsp;3.3 to Amendment No.&nbsp;4 to Gabelli Asset Management Inc.&#146;s
Registration Statement on Form&nbsp;S-1 (File No.&nbsp;333-51023) filed with the Securities and
Exchange Commission on February&nbsp;10, 1999).</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amended Bylaws of Gabelli Asset Management Inc. (Incorporated by reference to Exhibit&nbsp;3.4 to
Amendment No.&nbsp;4 to Gabelli Asset Management Inc.&#146;s Registration Statement on
Form&nbsp;S-1 (File No.&nbsp;333-51023) filed with the Securities and Exchange Commission on February
10, 1999).</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.3</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Specimen of Class&nbsp;A Common Stock Certificate. (Incorporated by reference to Exhibit&nbsp;4.1 to
Amendment No.&nbsp;3 to Gabelli Asset Management Inc.&#146;s Registration Statement on
Form&nbsp;S-1 (File No.&nbsp;333-51023) filed with the Securities and Exchange Commission on January&nbsp;29,
1999).</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Skadden, Arps, Slate, Meagher &#038; Flom LLP, regarding the legality of the
securities being registered.&#043;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Ernst &#038; Young LLP.&#043;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Skadden, Arps, Slate, Meagher &#038; Flom LLP (included in Exhibit&nbsp;5.1).&#043;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">24.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney (included on the signature page hereto).&#043;</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Gabelli Asset Management Inc. 2002 Stock Award and Incentive Plan (Incorporated by reference
to Exhibit&nbsp;A to Gabelli Asset Management Inc.&#146;s definitive proxy statement on Schedule&nbsp;14A
filed with the Securities and Exchange Commission on April&nbsp;30, 2002).</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>



<DIV align="left">
<DIV style="font-size: 3pt; margin-top: 16pt; width: 18%; border-top: 1px solid #000000">&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top">
    <TD width="3%" nowrap align="left">&#043;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="96%">Filed herewith</TD>
</TR>

</TABLE>



<P align="left" style="font-size: 10pt"><B>Item&nbsp;9. Undertakings</B>



<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left">(a)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The undersigned registrant hereby undertakes:</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:3%; font-size: 10pt">(1)&nbsp;To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:



<P align="left" style="margin-left:3%; font-size: 10pt">(i)&nbsp;To include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act;


<P align="center" style="font-size: 10pt">4
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="left" style="margin-left:3%; font-size: 10pt">(ii)&nbsp;To reflect in the prospectus any facts or events arising after the effective date of
the registration statement (or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form of prospectus filed with
the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price
represent no more than 20&nbsp;percent change in the maximum aggregate offering price set forth
in the &#147;Calculation of Registration Fee&#148; table in the effective registration statement; and



<P align="left" style="margin-left:3%; font-size: 10pt">(iii)&nbsp;To include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to such
information in the registration statement;


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>provided, however</I>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration
statement is on Form S-3, Form S-8 or Form F-3, and the information required to be included in a
post-effective amendment by those paragraphs is contained in periodic reports filed with or
furnished to the Commission by the registrant pursuant to Section&nbsp;13 or 15(d) of the Exchange Act
that are incorporated by reference in the registration statement.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial <I>bona fide </I>offering thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the registrant&#146;s annual report pursuant to
Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an
employee benefit plan&#146;s annual report pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference in the registration statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial <I>bona fide </I>offering thereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;The undersigned registrant hereby undertakes to deliver or cause to be delivered with the
prospectus, to each person to whom the prospectus is sent or given, the latest annual report, to
security holders that is incorporated by reference in the prospectus and furnished pursuant to and
meeting the requirements of Rule&nbsp;14a-3 or Rule&nbsp;14c-3 under the Exchange Act; and, where interim
financial information required to be presented by Article&nbsp;3 of Regulation&nbsp;S-X is not set forth in
the prospectus, to deliver, or cause to be delivered to each person to whom the prospectus is sent
or given, the latest quarterly report that is specifically incorporated by reference in the
prospectus to provide such interim financial information.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Securities Act and is,
therefore, unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment by the registrant of expenses incurred or paid by a director, officer or
controlling person of the registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.


<P align="center" style="font-size: 10pt">5
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<P align="center" style="font-size: 10pt">SIGNATURES


<P align="left" style="font-size: 10pt">Pursuant to the requirements of the Securities Act, the registrant certifies that it has reasonable
grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused
this registration statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Rye, State of New York, on this
23<SUP style="font-size: 85%; vertical-align: text-top">rd</SUP> day of June, 2005.


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="48%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left"><B>GABELLI ASSET MANAGEMENT INC.</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Michael R. Anastasio, Jr.</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Name: Michael R. Anastasio, Jr.</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Title: Chief Financial Officer</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt"><B>POWER OF ATTORNEY</B>



<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below hereby constitutes and appoints Michael R.
Anastasio, Jr. and James E. McKee and each of them, his true and lawful attorney-in-fact and agent
with full power of substitution and resubstitution, for him in his name, place and stead, in any
and all capacities, to sign any and all amendments to this registration statement and any
additional registration statement pursuant to Rule 462(b) under the Securities Act of 1933 and to
file the same, with all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, and hereby grants to such attorney-in-fact and agent, full
power and authority to do and perform each and every act and thing requisite and necessary to be
done, as fully to all intents and purposes as he might or could do in person, hereby ratifying and
confirming all that said attorney-in-fact and agent or his substitute or substitutes may lawfully
do or cause to be done by virtue hereof.


<P align="left" style="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this registration statement has
been signed by the following persons in the capacities and on the dates indicated.

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->

<TR>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" nowrap valign="top">/s/ Mario J. Gabelli<BR>
<HR size="1" noshade color="#000000">Mario J. Gabelli</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chairman of the
Board and Chief
Executive Officer
(Principal
Executive Officer)</TD>

    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 23, 2005</TD>
</TR>


<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Michael R. Anastasio, Jr.<BR>
<HR size="1" noshade color="#000000">
Michael R. Anastasio, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Chief Financial
Officer (Principal
Financial Officer
and Principal
Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 23, 2005</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">6
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="14%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Edwin L. Artzt<BR>
<HR size="1" noshade color="#000000">
Edwin L. Artzt</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 23, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Raymond C. Avansino, Jr.<BR>
<HR size="1" noshade color="#000000">
Raymond C. Avansino, Jr.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 23, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ John C. Ferrara<BR>
<HR size="1" noshade color="#000000">
John C. Ferrara</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 23, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ John D. Gabelli<BR>
<HR size="1" noshade color="#000000">
John D. Gabelli</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 23, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Alan C. Heuberger<BR>
<HR size="1" noshade color="#000000">
Alan C. Heuberger</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 23, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Robert S. Prather<BR>
<HR size="1" noshade color="#000000">
Robert S. Prather</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 23, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Karl Otto P&#246;hl<BR>
<HR size="1" noshade color="#000000">
Karl Otto P&#246;hl</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 23, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Frederic V. Salerno<BR>
<HR size="1" noshade color="#000000">
Frederic V. Salerno</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 23, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Vincent S. Tese<BR>
<HR size="1" noshade color="#000000">
Vincent S. Tese</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">June 23, 2005</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">7
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<P align="center" style="font-size: 10pt">EXHIBIT INDEX


<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="90%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3">Exhibit</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Number</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Description</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Restated Certificate of Incorporation of Gabelli Asset Management Inc. (Incorporated by
reference to Exhibit&nbsp;3.3 to Amendment No.&nbsp;4 to Gabelli Asset Management Inc.&#146;s
Registration Statement on Form&nbsp;S-1 (File No.&nbsp;333-51023) filed with the Securities and
Exchange Commission on February&nbsp;10, 1999).</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Amended Bylaws of Gabelli Asset Management Inc. (Incorporated by reference to Exhibit&nbsp;3.4 to
Amendment No.&nbsp;4 to Gabelli Asset Management Inc.&#146;s Registration Statement on
Form&nbsp;S-1 (File No.&nbsp;333-51023) filed with the Securities and Exchange Commission on February
10, 1999).</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">4.3</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Specimen of Class&nbsp;A Common Stock Certificate. (Incorporated by reference to Exhibit&nbsp;4.1 to
Amendment No.&nbsp;3 to Gabelli Asset Management Inc.&#146;s Registration Statement on
Form&nbsp;S-1 (File No.&nbsp;333-51023) filed with the Securities and Exchange Commission on January&nbsp;29,
1999).</DIV></TD>
</TR>
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    <TD valign="top">&nbsp;</TD>
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</TR>
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    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">5.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Skadden, Arps, Slate, Meagher &#038; Flom LLP, regarding the legality of the
securities being registered.&#043;</DIV></TD>
</TR>
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    <TD align="right" valign="top">&nbsp;</TD>
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    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Ernst &#038; Young LLP.&#043;</DIV></TD>
</TR>
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    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">23.2</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Skadden, Arps, Slate, Meagher &#038; Flom LLP (included in Exhibit&nbsp;5.1).&#043;</DIV></TD>
</TR>
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</TR>
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    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">24.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney (included on the signature page hereto).&#043;</DIV></TD>
</TR>
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</TR>
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    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Gabelli Asset Management Inc. 2002 Stock Award and Incentive Plan (Incorporated by reference
to Exhibit&nbsp;A to Gabelli Asset Management Inc.&#146;s definitive proxy statement on Schedule&nbsp;14A
filed with the Securities and Exchange Commission on April&nbsp;30, 2002).</DIV></TD>
</TR>
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    <TD width="1%">&nbsp;</TD>
    <TD width="96%">Filed herewith</TD>
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{"company-data": {"conformed-name": "GABELLI ASSET MANAGEMENT INC", "cik": "0001060349", "assigned-sic": "6211", "irs-number": "134007862", "state-of-incorporation": "NY", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-126095", "film-number": "05913253"}, "business-address": {"street1": "ONE CORPORATE CENTER", "city": "RYE", "state": "NY", "zip": "10580", "phone": "9149213700"}, "mail-address": {"street1": "ONE CORPORATE CENTER", "city": "RYE", "state": "NY", "zip": "10580"}, "former-company": {"former-conformed-name": "ALPHA G INC", "date-changed": "19980423"}}
S-8
As filed with the
Securities and Exchange Commission on June 23, 2005
Registration
No. 333-
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM S-8
REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933
GABELLI ASSET MANAGEMENT INC.
(Exact name of Registrant as specified in its charter)
NEW YORK
(State or other jurisdiction of
incorporation or organization)
6211
(Primary Standard Industrial
Classification Code Number)
13-4007862
(I.R.S. Employer
Identification No.)
One Corporate Center
Rye, New York 10580
(914) 921-3700
(Address, Including Zip Code, and Telephone Number, Including Area Code,
of Registrant's Principal Executive Offices)
GABELLI ASSET MANAGEMENT INC.
2002 STOCK AWARD AND INCENTIVE PLAN
(Full title of the Plan)
James E. McKee, Esq.
Vice President, General Counsel and Secretary
Gabelli Asset Management Inc.
One Corporate Center
Rye, New York 10580
(914) 921-3700
(Name, Address, Including Zip Code, and Telephone Number,
Including Area Code, of Agent for Service)
Copy to:
Richard T. Prins, Esq.
Gregory A. Fernicola, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP
Four Times Square
New York, New York 10036-6522
(212) 735-3000
CALCULATION OF REGISTRATION FEE
Proposed Maximum
Proposed Maximum
Amount of
Title of Securities
Amount to be
Offering Price
Aggregate Offering
Registration
to be Registered
Registered (1)
Per Share
Price
Fee
Class A Common Stock,
par value $0.001 per
share: Shares subject
to outstanding options
under the 2002 Stock
Award and Incentive
Plan (the "Plan")
545,000
$
29.74
$
16,208,750
$
1,907.77
(2)
(1)
The shares of Class A Common Stock, par value $0.001 per share of Gabelli Asset Management
Inc. shown in the table above consists of 545,000 shares of the 1,500,000 shares of Class A Common
Stock issuable pursuant to the Plan. The maximum number of shares which may be issued under the
Plan are subject to adjustment upon the occurrence of certain events pursuant to
the Plan. Accordingly, pursuant to Rule 416 under the Securities Act of 1933 (the "Securities
Act"), this registration statement includes, in addition to the number of shares stated above, an
indeterminate number of shares which may be subject to grant or otherwise issuable after the
occurrence of any such corporate transaction or event.
(2)
Computed in accordance with Rule 457(h) under the Securities Act. Such computation is based on
the weighted average exercise price of $ 29.74 per share covering 545,000 outstanding options.
EXPLANATORY NOTE
This registration statement registers shares of Class A Common Stock, par value $0.001 per
share (the "Common Stock"), of Gabelli Asset Management Inc., a New York corporation (the
"Company"), issuable under the Gabelli Asset Management Inc. 2002 Stock Award and Incentive Plan
(the "Plan").
PART I
INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS
The documents containing the information specified in Part I of Form S-8 will be sent or given
to employees as specified by Rule 428(b)(1) of the Securities Act. Such documents need not be
filed with the U.S. Securities and Exchange Commission (the "Commission") either as part of this
registration statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the
Securities Act. These documents and the documents incorporated by reference in this registration
statement pursuant to Item 3 of Part II of this registration statement, taken together, constitute
a prospectus that meets the requirements of Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Certain Documents by Reference
The following documents filed with the Commission by the registrant, the Company, pursuant to
the Securities Exchange Act of 1934, as amended (the "Exchange Act"), are incorporated by reference
in this registration statement:
(1)
The description of the Company's Class A Common Stock, par value
$0.001 per share, contained in the Company's Registration Statement on 8-A filed
with the Commission on January 12, 1999 to register such securities under the
Exchange Act, including any amendments or reports filed for the purposes of
updating such description;
(2)
The Company's Annual Report on Form 10-K for the year ended December 31,
2004, filed with the Commission on March 16, 2005;
(3)
The Company's Quarterly Report on Form 10-Q for the three months ended
March 31, 2005, filed with the Commission on May 10, 2005;
(4)
The Company's Definitive Proxy Statement on Schedule 14A, filed with the
Commission on April 25, 2005; and
(5)
The Company's Current Reports on Form 8-K, filed with the Commission on
February 28, 2005, March 2, 2005 and June 15, 2005 and Current Report on Form 8-K/A
filed with the Commission on March 7, 2005.
All documents filed or subsequently filed by the registrant pursuant to Sections 13(a), 13(c),
14 or 15(d) of the Exchange Act, after the date of this registration statement and prior to the
filing of a post-effective amendment which indicates that all securities described herein have been
sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated
by reference in this registration statement and to be a part hereof from the date of filing of such
documents with the Commission. Any statement contained in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or superseded for purposes of this
registration statement to the extent that a statement contained herein or in any other subsequently
filed document which also is or is deemed to be incorporated by reference herein modifies or
supersedes such statement. Any such
2
statement so modified or superseded shall not be deemed, except as so modified or superseded,
to constitute a part of this registration statement.
The Company will provide without charge to each person to whom a copy of this registration
statement is delivered, upon the written or oral request of such person, a copy of any or all of
the documents referred to above which have been or may be incorporated by reference herein (other
than exhibits to such documents unless such exhibits are specifically incorporated by reference in
such documents). Requests for such copies should be directed to: Michael R. Anastasio, Jr., Vice
President and Chief Financial Officer, One Corporate Center, Rye, New York 10580 (telephone (914)
921-3700).
Item 4. Description of Securities
Not Applicable
Item 5. Interests of Named Experts and Counsel
Not Applicable
Item 6. Indemnification of Directors and Officers
Sections 721-726 of the New York Business Corporation Law (the "NYBCL") provide that a
corporation may indemnify its officers and directors (or persons who have served, at the
corporation's request, as officers or directors of another corporation) against the reasonable
expenses, including attorneys' fees, actually and reasonably incurred by them in connection with
the defense of any action by reason of being or having been directors or officers, if such person
shall have acted in good faith and in a manner he reasonably believed to be in, or not opposed to,
the best interests of the corporation, except that if such action shall be in the right of the
corporation, no such indemnification shall be provided as to any claim, issue or matter as to which
such person shall have been adjudged to have been liable to the corporation unless and only to the
extent that the court in which the action was brought, or, if no action was brought, any court of
competent jurisdiction determines upon application that, in view of all of the circumstances of the
case, the person is fairly and reasonably entitled to indemnification.
The power to indemnify applies to actions brought by or in the right of the corporation as
well, but only to the extent of defense and settlement expenses and not to any satisfaction of a
judgment or settlement of the claim itself, and with the further limitation that in such actions no
indemnification will be made in the event of any adjudication of negligence or misconduct unless
the court, in its discretion, believes that in light of all the circumstances indemnification
should apply.
To the extent any of the persons referred to in the two immediately preceding paragraphs is
successful in the defense of such actions, such person is entitled, pursuant to the laws of the
State of New York, to indemnification as described above.
The Company's Restated Certificate of Incorporation and Amended Bylaws provide for
indemnification to officers and directors of the Company to the fullest extent permitted by the
NYBCL. The Company's Restated Certificate of Incorporation provides that, to the fullest extent
permitted by the NYBCL, no director of the Company shall be liable to the Company or it
shareholders for monetary damages for the breach of fiduciary duty in such capacity. Under the
NYBCL, such provision does not eliminate or limit the liability of any director (i) if a judgment
or other final adjudication adverse to such director establishes that his acts or omissions were in
bad faith or involved intentional misconduct or a knowing violation of law or that he personally
gained a material profit or other advantage to which he was not legally entitled or that his acts
violated Section 719 of the NYBCL or (ii) for any act or omission prior to the adoption of this
provision. As a result of this provision, the Company and its shareholders may be unable to obtain
monetary damages from a director for breach of his duty of care. Although shareholders may continue
to seek injunctive or other equitable relief for an alleged breach of fiduciary duty by a director,
shareholders may not have any effective remedy against the challenged conduct if equitable remedies
are unavailable.
3
The Amended Bylaws provide that the Company will indemnify any person who was or is a party to
any threatened, pending, or completed action, suit or proceeding because he or she is or was a
director, officer, employee or agent of the Company, or is or was serving at the request of the
Company as a director or officer of another corporation, partnership or other enterprise. The
Amended Bylaws provide that indemnification will be from and against expenses, judgments, fines and
amounts paid in settlement by the indemnitee. However, this indemnification will only be provided
if the indemnitee acted in good faith and in a manner he or she reasonably believed to be in, or
not opposed to, the best interests of the Company, and, with respect to a criminal action or
proceeding, if the indemnitee had no reasonable cause to believe that his or her conduct was
unlawful.
Item 7. Exemption From Registration Claimed
Not Applicable
Item 8. Exhibits
Exhibit
Number
Description
4.1
Restated Certificate of Incorporation of Gabelli Asset Management Inc. (Incorporated by
reference to Exhibit 3.3 to Amendment No. 4 to Gabelli Asset Management Inc.'s
Registration Statement on Form S-1 (File No. 333-51023) filed with the Securities and
Exchange Commission on February 10, 1999).
4.2
Amended Bylaws of Gabelli Asset Management Inc. (Incorporated by reference to Exhibit 3.4 to
Amendment No. 4 to Gabelli Asset Management Inc.'s Registration Statement on
Form S-1 (File No. 333-51023) filed with the Securities and Exchange Commission on February
10, 1999).
4.3
Specimen of Class A Common Stock Certificate. (Incorporated by reference to Exhibit 4.1 to
Amendment No. 3 to Gabelli Asset Management Inc.'s Registration Statement on
Form S-1 (File No. 333-51023) filed with the Securities and Exchange Commission on January 29,
1999).
5.1
Opinion of Skadden, Arps, Slate, Meagher & Flom LLP, regarding the legality of the
securities being registered.+
23.1
Consent of Ernst & Young LLP.+
23.2
Consent of Skadden, Arps, Slate, Meagher & Flom LLP (included in Exhibit 5.1).+
24.1
Power of Attorney (included on the signature page hereto).+
99.1
Gabelli Asset Management Inc. 2002 Stock Award and Incentive Plan (Incorporated by reference
to Exhibit A to Gabelli Asset Management Inc.'s definitive proxy statement on Schedule 14A
filed with the Securities and Exchange Commission on April 30, 2002).
+
Filed herewith
Item 9. Undertakings
(a)
The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;
4
(ii) To reflect in the prospectus any facts or events arising after the effective date of
the registration statement (or the most recent post-effective amendment thereof) which,
individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement. Notwithstanding the foregoing, any increase or
decrease in volume of securities offered (if the total dollar value of securities offered
would not exceed that which was registered) and any deviation from the low or high end of
the estimated maximum offering range may be reflected in the form of prospectus filed with
the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price
represent no more than 20 percent change in the maximum aggregate offering price set forth
in the "Calculation of Registration Fee" table in the effective registration statement; and
(iii) To include any material information with respect to the plan of distribution not
previously disclosed in the registration statement or any material change to such
information in the registration statement;
provided, however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration
statement is on Form S-3, Form S-8 or Form F-3, and the information required to be included in a
post-effective amendment by those paragraphs is contained in periodic reports filed with or
furnished to the Commission by the registrant pursuant to Section 13 or 15(d) of the Exchange Act
that are incorporated by reference in the registration statement.
(2) That, for the purpose of determining any liability under the Securities Act, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial
bona fide
offering thereof.
(3) To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of determining any
liability under the Securities Act, each filing of the registrant's annual report pursuant to
Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an
employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is
incorporated by reference in the registration statement shall be deemed to be a new registration
statement relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial
bona fide
offering thereof.
(c) The undersigned registrant hereby undertakes to deliver or cause to be delivered with the
prospectus, to each person to whom the prospectus is sent or given, the latest annual report, to
security holders that is incorporated by reference in the prospectus and furnished pursuant to and
meeting the requirements of Rule 14a-3 or Rule 14c-3 under the Exchange Act; and, where interim
financial information required to be presented by Article 3 of Regulation S-X is not set forth in
the prospectus, to deliver, or cause to be delivered to each person to whom the prospectus is sent
or given, the latest quarterly report that is specifically incorporated by reference in the
prospectus to provide such interim financial information.
(d) Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers and controlling persons of the registrant pursuant to the
foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the
Commission such indemnification is against public policy as expressed in the Securities Act and is,
therefore, unenforceable. In the event that a claim for indemnification against such liabilities
(other than the payment by the registrant of expenses incurred or paid by a director, officer or
controlling person of the registrant in the successful defense of any action, suit or proceeding)
is asserted by such director, officer or controlling person in connection with the securities being
registered, the registrant will, unless in the opinion of its counsel the matter has been settled
by controlling precedent, submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities Act and will be
governed by the final adjudication of such issue.
5
SIGNATURES
Pursuant to the requirements of the Securities Act, the registrant certifies that it has reasonable
grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused
this registration statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Rye, State of New York, on this
23
rd
day of June, 2005.
GABELLI ASSET MANAGEMENT INC.
By
/s/ Michael R. Anastasio, Jr.
Name: Michael R. Anastasio, Jr.
Title: Chief Financial Officer
POWER OF ATTORNEY
Each person whose signature appears below hereby constitutes and appoints Michael R.
Anastasio, Jr. and James E. McKee and each of them, his true and lawful attorney-in-fact and agent
with full power of substitution and resubstitution, for him in his name, place and stead, in any
and all capacities, to sign any and all amendments to this registration statement and any
additional registration statement pursuant to Rule 462(b) under the Securities Act of 1933 and to
file the same, with all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission, and hereby grants to such attorney-in-fact and agent, full
power and authority to do and perform each and every act and thing requisite and necessary to be
done, as fully to all intents and purposes as he might or could do in person, hereby ratifying and
confirming all that said attorney-in-fact and agent or his substitute or substitutes may lawfully
do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this registration statement has
been signed by the following persons in the capacities and on the dates indicated.
Signature
Title
Date
/s/ Mario J. Gabelli
Mario J. Gabelli
Chairman of the
Board and Chief
Executive Officer
(Principal
Executive Officer)
June 23, 2005
/s/ Michael R. Anastasio, Jr.
Michael R. Anastasio, Jr.
Chief Financial
Officer (Principal
Financial Officer
and Principal
Accounting Officer)
June 23, 2005
6
Signature
Title
Date
/s/ Edwin L. Artzt
Edwin L. Artzt
Director
June 23, 2005
/s/ Raymond C. Avansino, Jr.
Raymond C. Avansino, Jr.
Director
June 23, 2005
/s/ John C. Ferrara
John C. Ferrara
Director
June 23, 2005
/s/ John D. Gabelli
John D. Gabelli
Director
June 23, 2005
/s/ Alan C. Heuberger
Alan C. Heuberger
Director
June 23, 2005
/s/ Robert S. Prather
Robert S. Prather
Director
June 23, 2005
/s/ Karl Otto Pöhl
Karl Otto Pöhl
Director
June 23, 2005
/s/ Frederic V. Salerno
Frederic V. Salerno
Director
June 23, 2005
/s/ Vincent S. Tese
Vincent S. Tese
Director
June 23, 2005
7
EXHIBIT INDEX
Exhibit
Number
Description
4.1
Restated Certificate of Incorporation of Gabelli Asset Management Inc. (Incorporated by
reference to Exhibit 3.3 to Amendment No. 4 to Gabelli Asset Management Inc.'s
Registration Statement on Form S-1 (File No. 333-51023) filed with the Securities and
Exchange Commission on February 10, 1999).
4.2
Amended Bylaws of Gabelli Asset Management Inc. (Incorporated by reference to Exhibit 3.4 to
Amendment No. 4 to Gabelli Asset Management Inc.'s Registration Statement on
Form S-1 (File No. 333-51023) filed with the Securities and Exchange Commission on February
10, 1999).
4.3
Specimen of Class A Common Stock Certificate. (Incorporated by reference to Exhibit 4.1 to
Amendment No. 3 to Gabelli Asset Management Inc.'s Registration Statement on
Form S-1 (File No. 333-51023) filed with the Securities and Exchange Commission on January 29,
1999).
5.1
Opinion of Skadden, Arps, Slate, Meagher & Flom LLP, regarding the legality of the
securities being registered.+
23.1
Consent of Ernst & Young LLP.+
23.2
Consent of Skadden, Arps, Slate, Meagher & Flom LLP (included in Exhibit 5.1).+
24.1
Power of Attorney (included on the signature page hereto).+
99.1
Gabelli Asset Management Inc. 2002 Stock Award and Incentive Plan (Incorporated by reference
to Exhibit A to Gabelli Asset Management Inc.'s definitive proxy statement on Schedule 14A
filed with the Securities and Exchange Commission on April 30, 2002).
+
Filed herewith
8