General American Investors Declares 2007 Year-End
Dividend and Distribution on Common 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 a combined dividend and distribution of $5.75 on its common stock as follows:

• A Capital Gain Distribution of $5.082738 per share from net profits on securities sold during the period January 1 through October 31, 2007. This is long-term capital gain and is expected to be taxable as capital gain income.
• An Income Dividend of $0.667262 per share from estimated accumulated undistributed income for the full year 2007. This is ordinary income and is expected to be taxable as qualified dividend income.

A final determination as to taxability will be provided in January 2008. Both amounts are payable on December 27, 2007 to stockholders of record on November 16, 2007, and are to be included in stockholders' Federal income tax returns for 2007. Holders of common stock may elect to receive the dividend and distribution under one of two options:

1. Receive additional full and fractional shares of the Company's common stock for the combined total dividend and distribution of $5.75 per share;
2. Receive cash for 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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