General American Investors Declares Quarterly
Dividend and Distribution on Preferred Stock
General American Investors Company, Inc.


New York, November 7, 2007 -- Today, the Board of Directors of General American Investors Company, Inc. (GAM), a closed-end investment company, declared on its 5.95% cumulative preferred stock, series B, a dividend and distribution of $0.371875 per share payable in cash on December 24, 2007 to holders of record on December 7, 2007. This quarterly dividend and ditribution represents a payment for the accrual period from September 24, 2007 through December 23, 2007. Preferred shareholders will be informed in early 2008 of the taxable portions of the dividend and distribution.

General American Investors was founded in 1927, has been publicly traded since its inception and has been listed on the NYSE since 1930. The objective of the Company is long-term capital appreciation through investment in companies with above average growth potential. As of October 31, 2007, the Company had net assets of approximately $1.4 billion applicable to its 28.8 million shares of common stock outstanding. The net asset value of the common stock of the Company on October 31, 2007 was $47.18 per share and the closeing price was $43.78 per share. The aggregate liquidation value of the Company's preferred stock is $200 million. Its preferred shares (GAM Pr B) are also listed on the NYSE.


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