SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
                               (Amendment No. __)

Filed by Registrant [X]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ]   Preliminary Proxy Statement
[ ]   Confidential, for Use of the Commission Only (as permitted by Rule
      14a-6(e)(2))
[X]   Definitive Proxy Statement
[ ]   Definitive Additional Materials
[ ]   Soliciting Material Pursuant to Sec. 240.14a-12

             THE GABELLI CONVERTIBLE AND INCOME SECURITIES FUND INC.

                (Name of Registrant as Specified In Its Charter)

    (Name Of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):
[X]   No fee required.
[ ]   Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

      1)    Title of each class of securities to which transaction applies:

      2)    Aggregate number of securities to which transaction applies:

      3)    Per unit price or other underlying value of transaction computed
            pursuant to Exchange Act Rule 0-11(set forth the amount on which the
            filing fee is calculated and state how it was determined):

      4)    Proposed maximum aggregate value of transaction:

      5)    Total fee paid:

[ ]   Fee paid previously with preliminary materials.

[ ]   Check box if any part of the fee is offset as provided by Exchange Act
      Rule 0-11(a)(2) and identify the filing for which the offsetting fee was
      paid previously. Identify the previous filing by registration statement
      number, or the Form or Schedule and the date of its filing.

      1)    Amount Previously Paid:

      2)    Form, Schedule or Registration Statement No.:

      3)    Filing Party:

      4)    Date Filed:


             THE GABELLI CONVERTIBLE AND INCOME SECURITIES FUND INC.

                              One Corporate Center
                            Rye, New York 10580-1422
                                 (914) 921-5070

                                 --------------

                    NOTICE OF ANNUAL MEETING OF SHAREHOLDERS
                           TO BE HELD ON MAY 19, 2008

                                 --------------

To the Shareholders of
THE GABELLI CONVERTIBLE AND INCOME SECURITIES FUND INC.

      Notice is hereby  given  that the  Annual  Meeting  of  Shareholders  (the
"Meeting")  of The Gabelli  Convertible  and Income  Securities  Fund Inc.  (the
"Fund") will be held at The Cole  Auditorium,  The Greenwich  Library,  101 West
Putnam Avenue,  Greenwich,  Connecticut  06830, on Monday, May 19, 2008, at 8:30
a.m., for the following purposes:

      1.    To elect three (3)  Directors of the Fund,  two (2)  Directors to be
            elected by the holders of the Fund's Common Stock and holders of its
            6.00% Series B Cumulative  Preferred Stock and Series C Auction Rate
            Cumulative Preferred Stock (together, the "Preferred Stock"), voting
            together as a single  class,  and one (1)  Director to be elected by
            the  holders of the  Fund's  Preferred  Stock,  voting as a separate
            class (PROPOSAL 1); and

      2.    To   consider   and  vote  upon  such   other   matters,   including
            adjournments,  as may  properly  come  before  said  Meeting  or any
            adjournments thereof.

      These  items  are  discussed  in  greater  detail  in the  attached  Proxy
Statement.

      The close of  business on March 17, 2008 has been fixed as the record date
for the  determination of shareholders  entitled to notice of and to vote at the
Meeting and any adjournments thereof.

      YOUR VOTE IS  IMPORTANT  REGARDLESS  OF THE SIZE OF YOUR  HOLDINGS  IN THE
FUND.  WHETHER  OR NOT YOU PLAN TO ATTEND  THE  MEETING,  WE ASK THAT YOU PLEASE
COMPLETE,  SIGN,  AND DATE THE ENCLOSED PROXY CARD AND RETURN IT PROMPTLY IN THE
ENCLOSED  ENVELOPE,  WHICH  NEEDS NO  POSTAGE  IF MAILED IN THE  UNITED  STATES.
INSTRUCTIONS  FOR THE PROPER  EXECUTION  OF PROXIES  ARE SET FORTH ON THE INSIDE
COVER.

                                          By Order of the Board of Directors,

                                          AGNES MULLADY
                                          SECRETARY

April 7, 2008



                      INSTRUCTIONS FOR SIGNING PROXY CARDS

      The  following  general rules for signing proxy cards may be of assistance
to you and avoid the time and expense to the Fund  involved in  validating  your
vote if you fail to sign your proxy card properly.

      1.    INDIVIDUAL  ACCOUNTS:  Sign your name  exactly  as it appears in the
            registration on the proxy card.

      2.    JOINT  ACCOUNTS:  Either  party may sign,  but the name of the party
            signing   should   conform   exactly   to  the  name  shown  in  the
            registration.

      3.    ALL OTHER  ACCOUNTS:  The  capacity of the  individuals  signing the
            proxy card should be indicated unless it is reflected in the form of
            registration. For example:

            REGISTRATION                                VALID SIGNATURE
            ------------                                ---------------

            CORPORATE ACCOUNTS

            (1) ABC Corp.                               ABC Corp.
            (2) ABC Corp.                               John Doe, Treasurer
            (3) ABC Corp.
                c/o John Doe, Treasurer                 John Doe
            (4) ABC Corp., Profit Sharing Plan          John Doe, Trustee

            TRUST ACCOUNTS

            (1) ABC Trust                               Jane B. Doe, Trustee
            (2) Jane B. Doe, Trustee
                u/t/d 12/28/78                          Jane B. Doe

            CUSTODIAN OR ESTATE ACCOUNTS

            (1) John B. Smith, Cust.
                f/b/o John B. Smith, Jr. UGMA           John B. Smith
            (2) John B. Smith, Executor
                Estate of Jane Smith                    John B. Smith, Executor

                            TELEPHONE/INTERNET VOTING

      Various  brokerage firms may offer the convenience of providing you voting
instructions  via  telephone or the Internet for shares held through such firms.
If  available,  instructions  are included  with this Proxy  Statement and proxy
card.



             THE GABELLI CONVERTIBLE AND INCOME SECURITIES FUND INC.

                                   ----------

                         ANNUAL MEETING OF SHAREHOLDERS

                                  MAY 19, 2008

                                   ----------

                                 PROXY STATEMENT

      This Proxy Statement is furnished in connection  with the  solicitation of
proxies  by the  Board  of  Directors  of The  Gabelli  Convertible  and  Income
Securities  Fund Inc. (the "Fund") for use at the Annual Meeting of Shareholders
of the  Fund to be held on  Monday,  May 19,  2008,  at 8:30  a.m.,  at The Cole
Auditorium,   The  Greenwich  Library,   101  West  Putnam  Avenue,   Greenwich,
Connecticut 06830, and at any adjournments thereof (the "Meeting").  A Notice of
Annual Meeting of  Shareholders  and proxy card accompany this Proxy  Statement,
all of which are first being mailed to shareholders on or about April 14, 2008.

      In addition to the  solicitation of proxies by mail,  officers of the Fund
and  officers  and  regular  employees  of  Computershare  Trust  Company,  N.A.
("Computershare"), the Fund's transfer agent, and affiliates of Computershare or
other  representatives  of the Fund  may  also  solicit  proxies  by  telephone,
telegraph, Internet, or in person. In addition, the Fund has retained The Altman
Group, Inc. to assist in the solicitation of proxies for a minimum fee of $2,500
plus  reimbursement  of  expenses.  The  Fund  will pay the  costs of the  proxy
solicitation  and the expenses  incurred in connection  with preparing the Proxy
Statement and its enclosures.  The Fund will also reimburse  brokerage firms and
others for their expenses in forwarding solicitation materials to the beneficial
owners of its shares.

      THE  FUND'S  MOST  RECENT  ANNUAL  REPORT,   INCLUDING  AUDITED  FINANCIAL
STATEMENTS  FOR THE FISCAL YEAR ENDED  DECEMBER  31,  2007,  IS  AVAILABLE  UPON
REQUEST,  WITHOUT CHARGE, BY WRITING TO THE FUND AT ONE CORPORATE  CENTER,  RYE,
NEW YORK 10580-1422, BY CALLING THE FUND AT 800-422-3554, OR VIA THE INTERNET AT
WWW.GABELLI.COM.

      If the  enclosed  proxy is properly  executed  and  returned in time to be
voted at the Meeting,  the Shares (as defined below) represented thereby will be
voted "FOR" the election of the nominees as Directors listed in the accompanying
Notice of Annual Meeting of  Shareholders,  unless  instructions to the contrary
are  marked  thereon,  and at the  discretion  of the  proxy  holders  as to the
transaction of any other business that may properly come before the Meeting. Any
shareholder  who has given a proxy has the right to revoke it at any time  prior
to its exercise  either by attending the Meeting and voting his or her shares in
person or by submitting a letter of  revocation  or a  later-dated  proxy to the
Fund at the above address prior to the date of the Meeting.

      A quorum of  shareholders  is  constituted by the presence in person or by
proxy  of the  holders  of a  majority  of the  outstanding  shares  of the Fund
entitled  to vote at the  Meeting.  In the event a quorum is not  present at the
Meeting,  or in the event that a quorum is present at the Meeting but sufficient
votes to approve any of the proposed  items are not received,  the persons named
as  proxies  may  propose  one or more  adjournments  of such  Meeting to permit
further  solicitation of proxies. A shareholder vote may be taken on one or more
of the proposals in this Proxy Statement prior to such adjournment if sufficient
votes have been received for approval and it is otherwise appropriate.  Any such
adjournment  will  require the  affirmative  vote of a majority of those  shares
present  at the  Meeting  in  person or by proxy.  If a quorum is  present,  the
persons named as proxies will vote those proxies which they are entitled to vote
"FOR" any  proposal  in favor of such  adjournment  and will vote those  proxies
required to be voted "AGAINST" any proposal against any such adjournment. Absent
the  establishment  of a subsequent  record date and the giving of notice to the
holders of record thereon,  the adjourned  Meeting must take place not more than
120 days after the record date. At such adjourned  Meeting,  any business may be
transacted which might have been transacted at the original Meeting. If a quorum
is  present,  a  shareholder  vote may be taken on one or more of the  proposals
properly brought before the Meeting prior to any adjournment if sufficient votes
have been received and it is otherwise appropriate.


                                        1



      The close of  business on March 17, 2008 has been fixed as the record date
for the  determination of shareholders  entitled to notice of and to vote at the
Meeting and all adjournments thereof.

      The Fund has two classes of capital stock:  common stock, par value $0.001
per share (the "Common  Stock"),  and  preferred  stock  consisting of (i) 6.00%
Series B Cumulative  Preferred  Stock  ("Series B Preferred")  and (ii) Series C
Auction Rate Cumulative  Preferred  Stock ("Series C Preferred"),  each having a
par value of $0.001 per share (together, the "Preferred Stock" and together with
the Common Stock,  the "Shares").  The holders of the Common Stock and Preferred
Stock are each entitled to one vote for each full share held and an  appropriate
fraction of a vote for each  fractional  share held.  On the record date,  there
were  12,598,398  shares of Common Stock,  990,800  shares of Series B Preferred
Stock, and 1,000 shares of Series C Preferred Stock outstanding.

      The following  person was known to the Fund to be beneficial owner of more
than 5% of the Fund's outstanding shares of Common Stock as of the record date:



       NAME AND ADDRESS OF                              AMOUNT OF SHARES
       BENEFICIAL OWNER(S)         TITLE OF CLASS   AND NATURE OF OWNERSHIP   PERCENT OF CLASS
       -------------------         --------------   -----------------------   ----------------
                                                                           
Mario J. Gabelli and affiliates*       Common        1,356,831 (beneficial)         10.8%
One Corporate Center
Rye, NY 10580-1422


----------
*     Includes 252,481 shares owned directly by Mr. Gabelli, 10,000 shares owned
      by a family  partnership for which Mr. Gabelli serves as general  partner,
      and 1,094,350 shares owned by GAMCO Investors, Inc. or its affiliates. Mr.
      Gabelli  disclaims   beneficial  ownership  of  the  shares  held  by  the
      discretionary  accounts and by the entities  named except to the extent of
      his interest in such entities.

      As of the  record  date,  there  were no  persons  known to the Fund to be
beneficial owners of more than 5% of the Fund's  outstanding shares of Preferred
Stock.

                   SUMMARY OF VOTING RIGHTS ON PROXY PROPOSALS



PROPOSAL              COMMON STOCKHOLDERS                  PREFERRED STOCKHOLDERS
--------              -------------------                  ----------------------
                                                     
1. Election of        Common and Preferred Stockholders,   Common and Preferred Stockholders,
   Directors          voting together as a single class,   voting together as a single class,
                      vote to elect two Directors:         vote to elect two Directors:
                      Anthonie C. van Ekris                Anthonie C. van Ekris
                      Salvatore J. Zizza                   Salvatore J. Zizza

                                                           Preferred Stockholders,
                                                           voting as a separate class,
                                                           vote to elect one Director:
                                                           Anthony J. Colavita

2. Other Business     Common and Preferred Stockholders, voting together as a single class


      In order  that your  Shares may be  represented  at the  Meeting,  you are
requested to vote on the following matters:


                                        2



              PROPOSAL 1: TO ELECT THREE (3) DIRECTORS OF THE FUND

NOMINEES FOR THE BOARD OF DIRECTORS

      The Board of Directors is divided into three classes,  each class having a
term of three  years.  Each year the term of office  of one class  will  expire.
Anthony J.  Colavita,  Anthonie C. van Ekris,  and  Salvatore J. Zizza have each
been nominated by the Board of Directors for a three-year  term to expire at the
Fund's 2011 Annual Meeting of  Shareholders  or until their  successors are duly
elected and  qualified.  Anthony J. Colavita has been  nominated by the Board of
Directors  for  election  by the  holders  of the Fund's  Preferred  Stock for a
three-year  term to expire at the Fund's 2011 Annual Meeting of  Shareholders or
until his successor is duly elected and qualified.  Each of the Directors of the
Fund has served in that capacity since the June 5, 1989  organizational  meeting
of the Fund with the exception of (i) Mr. Colavita, who became a Director of the
Fund on November 15, 1989, (ii) Mr. Zizza,  who became a Director of the Fund on
April 24,  1991,  (iii) Mr.  van Ekris,  who  became a  Director  of the Fund on
February 11,  1992,  and (iv) Dr.  Roeder,  who became a Director of the Fund on
August 15, 2001. All of the Directors of the Fund are also directors or trustees
of other  investment  companies for which Gabelli Funds,  LLC (the "Adviser") or
its  affiliates  serve as  investment  adviser.  The  classes of  Directors  are
indicated below:

NOMINEES TO SERVE UNTIL 2011 ANNUAL MEETING OF SHAREHOLDERS

Anthony J. Colavita
Anthonie C. van Ekris
Salvatore J. Zizza

DIRECTORS SERVING UNTIL 2010 ANNUAL MEETING OF SHAREHOLDERS

Mario J. Gabelli, CFA
Werner J. Roeder

DIRECTORS SERVING UNTIL 2009 ANNUAL MEETING OF SHAREHOLDERS

E. Val Cerutti
Dugald A. Fletcher
Anthony R. Pustorino

      Under  the  Fund's  Articles  of  Amendment  and   Restatement,   Articles
Supplementary,  and the  Investment  Company Act of 1940,  as amended (the "1940
Act"),  holders of the Fund's outstanding  Preferred Stock, voting as a separate
class,  are  entitled  to  elect  two  Directors,  and  holders  of  the  Fund's
outstanding Common Stock and Preferred Stock, voting together as a single class,
are entitled to elect the remaining Directors,  subject to the provisions of the
1940  Act and  the  Fund's  Articles  of  Amendment  and  Restatement,  Articles
Supplementary, and ByLaws. The holders of the Fund's outstanding Preferred Stock
would be entitled to elect the minimum number of additional Directors that would
represent a majority of the Directors in the event that  dividends on the Fund's
Preferred Stock are in arrears for two full years. No dividend  arrearages exist
as of the  date of this  Proxy  Statement.  Mr.  Colavita  and  Dr.  Roeder  are
currently the Directors  elected  solely by the holders of the Fund's  Preferred
Stock.  A quorum of the Preferred  Stockholders  must be present in person or by
proxy at the  Meeting  in order for the  proposal  to elect Mr.  Colavita  to be
considered.

      Unless authority is withheld,  it is the intention of the persons named in
the proxy to vote the proxy "FOR" the election of the nominees named above. Each
nominee has indicated that he has consented to serve as a Director if elected at
the Meeting.  If a designated nominee declines or otherwise becomes  unavailable
for  election,  however,  the proxy confers  discretionary  power on the persons
named therein to vote in favor of a substitute nominee or nominees.


                                        3



INFORMATION ABOUT DIRECTORS AND OFFICERS

      Set forth in the table  below are the  existing  Directors  and  Nominees,
including those Directors who are not considered to be "interested  persons." as
defined in the 1940 Act (the "Independent Directors"), for election to the Board
of the Fund and officers of the Fund,  including  information  relating to their
respective  positions held with the Fund, a brief  statement of their  principal
occupations during the past five years, and other directorships (excluding other
funds managed by the Adviser), if any.



                              TERM OF                                                                                    NUMBER OF
                             OFFICE AND                                                                                PORTFOLIOS IN
   NAME, POSITION(S)         LENGTH OF                                                                                 FUND COMPLEX
       ADDRESS 1                TIME              PRINCIPAL OCCUPATION(S)               OTHER DIRECTORSHIPS              OVERSEEN
        AND AGE               SERVED 2             DURING PAST FIVE YEARS                 HELD BY DIRECTOR              BY DIRECTOR
------------------------   -------------   --------------------------------------   --------------------------------   -------------
                                                                                                                
INTERESTED DIRECTOR 3:

MARIO J. GABELLI           Since 1989**    Chairman and Chief Executive Officer     Director of Morgan Group                26
Director and                               of GAMCO Investors, Inc. and Chief       Holdings, Inc. (holding
Chief Investment Officer                   Investment Officer - Value Portfolios    company); Chairman of the
Age: 65                                    of Gabelli Funds, LLC and GAMCO Asset    Board of LICT Corp.
                                           Management Inc.; Director/Trustee or     (multimedia and
                                           Chief Investment Officer of other        communication services)
                                           registered investment companies in
                                           the Gabelli/GAMCO Funds Complex;
                                           Chief Executive Officer of GGCP, Inc.

INDEPENDENT DIRECTORS/NOMINEES 4:

E. VAL CERUTTI             Since 1989***   Chief Executive Officer of Cerutti       Director of The LGL Group, Inc.          7
Director                                   Consultants, Inc.                        (diversified manufacturing)
Age: 68

ANTHONY J. COLAVITA 5      Since 1989*     Partner in the law firm of Anthony J.    --                                      35
Director                                   Colavita, P.C.
Age: 72

DUGALD A. FLETCHER         Since 1989***   President of Fletcher & Company, Inc.    Director of Harris and                   2
Director                                                                            Harris Group, Inc. (venture
Age: 78                                                                             capital)

ANTHONY R. PUSTORINO       Since 1989***   Certified Public Accountant;             Director of The LGL Group, Inc.         14
Director                                   Professor Emeritus, Pace University      (diversified manufacturing)
Age: 82

WERNER J. ROEDER 5         Since 2001**    Medical Director of Lawrence Hospital    --                                      23
Director                                   and practicing private physician
Age: 67

ANTHONIE C. VAN EKRIS      Since 1992*     Chairman of BALMAC International,        --                                      19
Director                                   Inc. (commodities and futures trading)
Age: 73

SALVATORE J. ZIZZA         Since 1991*     Chairman of Zizza & Co., Ltd.            Director of Hollis-Eden                 26
Director                                   (consulting)                             Pharmaceuticals (biotechnology)
Age: 62                                                                             and Earl Scheib Inc. (automotive
                                                                                    services)



                                        4





                                 TERM OF
                               OFFICE AND
      NAME, POSITION(S)         LENGTH OF
          ADDRESS 1               TIME                       PRINCIPAL OCCUPATION(S)
           AND AGE               SERVED                       DURING PAST FIVE YEARS
----------------------------   ----------   --------------------------------------------------------
                                      
OFFICERS 6:

BRUCE N. ALPERT                Since 1988   Executive Vice President and Chief Operating Officer of
President                                   Gabelli Funds, LLC since 1988; Officer of all of the
Age: 56                                     registered investment companies in the Gabelli/GAMCO
                                            Funds complex; Director and President of Teton Advisors,
                                            Inc. (formerly Gabelli Advisers, Inc.) since 1998

PETER D. GOLDSTEIN             Since 2004   Director of Regulatory Affairs for GAMCO Investors, Inc.
Chief Compliance Officer                    since 2004; Chief Compliance Officer of all of the
Age: 54                                     registered investment companies in the Gabelli/GAMCO
                                            Funds complex; Vice President of Goldman Sachs Asset
                                            Management from 2000-2004

LAURISSA M. MARTIRE            Since 2004   Vice President of the Fund and the Gabelli Global
Vice President and Ombudsman                Multimedia Trust Inc. since 2004; Assistant Vice
Age: 31                                     President of GAMCO Investors, Inc. since 2003

AGNES MULLADY                  Since 2006   Vice President of Gabelli Funds, LLC since 2007; Officer
Treasurer and                               of all of the registered investment companies
Secretary                      Since 2008   in the Gabelli/GAMCO Funds complex; Senior Vice President
Age: 49                                     of U.S. Trust Company, N.A. and Treasurer and Chief
                                            Financial Officer of Excelsior Funds from 2004-2005;
                                            Chief Financial Officer of AMIC Distribution Partners
                                            from 2002-2004


----------
  1   Address: One Corporate Center, Rye, NY 10580-1422, unless otherwise noted.

  2   The Fund's Board of Directors  is divided into three  classes,  each class
      having a term of three  years.  Each  year the term of office of one class
      expires and the successor or successors  elected to such class serve for a
      three-year term.

  3   "Interested person" of the Fund as defined in the 1940 Act. Mr. Gabelli is
      considered  to be an  "interested  person"  of  the  Fund  because  of his
      affiliation  with  Gabelli  Funds,  LLC,  which is the  Fund's  investment
      adviser,   and  Gabelli  &  Company,   Inc.,   which  executes   portfolio
      transactions for the Fund, and as a controlling shareholder because of the
      level of his ownership of common shares of the Fund.

  4   Directors who are not considered to be "interested persons" of the Fund as
      defined in the 1940 Act are considered to be "Independent" Directors.

  5   As a Director, elected solely by holders of the Fund's Preferred Stock.

  6   Each officer will hold office for an indefinate  term until the date he or
      she  resigns  or  retires or until his or her  successor  is  elected  and
      qualified.

  *   Nominee to serve,  if elected,  until the Fund's  2011  Annual  Meeting of
      Shareholders or until his successor is duly elected and qualified.

 **   Term  continues  until the Fund's 2010 Annual Meeting of  Shareholders  or
      until his successor is duly elected and qualified.

***   Term  continues  until the Fund's 2009 Annual Meeting of  Shareholders  or
      until his successor is duly elected and qualified.


                                        5



BENEFICIAL OWNERSHIP OF SHARES HELD IN THE FUND AND THE FUND COMPLEX FOR EACH
DIRECTOR AND NOMINEE FOR ELECTION AS DIRECTOR

      Set forth in the table below is the dollar range of equity  securities  in
the Fund  beneficially  owned by each  Director  and  Nominee  for  election  as
Director and the aggregate dollar range of equity securities in the Fund complex
beneficially  owned by each Director and Nominee for election as Director.



                                  DOLLAR RANGE OF EQUITY   AGGREGATE DOLLAR RANGE OF EQUITY
                                      SECURITIES HELD             SECURITIES HELD IN
NAME OF DIRECTOR/NOMINEE              IN THE FUND*(1)             FUND COMPLEX*(1)(2)
-------------------------------   ----------------------   --------------------------------
                                                                     
INTERESTED DIRECTOR:

Mario J. Gabelli                             E                             E

INDEPENDENT DIRECTORS/NOMINEES:

E. Val Cerutti**                             E                             E
Anthony J. Colavita**                        E                             E
Dugald A. Fletcher                           E                             E
Anthony R. Pustorino**                       C                             E
Werner J. Roeder                             E                             E
Anthonie C. van Ekris**                      B                             E
Salvatore J. Zizza                           E                             E


----------
*     Key to Dollar Ranges

      A.    None

      B.    $1 - $10,000

      C.    $10,001 - $50,000

      D.    $50,001 - $100,000

      E.    Over $100,000

      All shares were valued as of December 31, 2007.

**    Messrs. Cerutti, Colavita,  Pustorino, and van Ekris each beneficially own
      less than 1% of the common stock of The LGL Group, Inc., having a value of
      $12,138,  $9,071,  $20,971 and $10,880,  respectively,  as of December 31,
      2007. Mr. van Ekris  beneficially owns less than 1% of the common stock of
      LICT Corp. and CIBL, Inc. having a value of $103,200 and $0, respectively,
      as of December 31, 2007. The LGL Group,  Inc, LICT Corp.,  and CIBL,  Inc.
      may be deemed to be controlled by Mario J. Gabelli and in that event would
      be deemed to be under common control with the Fund's Adviser.

(1)   This  information  has been  furnished  by each  Director  and Nominee for
      election as Director as of December 31, 2007.  "Beneficial  Ownership"  is
      determined  in  accordance  with  Section  16a-1(a)(2)  of the  Securities
      Exchange Act of 1934, as amended (the "1934 Act").

(2)   The "Fund Complex"  includes all the funds that are considered part of the
      same fund  complex  as the Fund  because  they have  common or  affiliated
      investment advisers.


                                        6



      Set forth in the table below is the amount of shares beneficially owned by
each Director of the Fund.



                                      AMOUNT AND NATURE OF       PERCENT OF SHARES
NAME OF DIRECTOR/NOMINEE            BENEFICIAL OWNERSHIP (1)      OUTSTANDING (2)
-------------------------------   ----------------------------   -----------------
                                                                 
INTERESTED DIRECTOR:

      Mario J. Gabelli                  1,356,831 (3)                  10.8%
                                  4,200 Series B Preferred (4)            *

INDEPENDENT DIRECTORS/NOMINEES:

      E. Val Cerutti                            0                         *
                                    5,000 Series B Preferred              *
      Anthony J. Colavita                  53,380 (5)                     *
                                   800 Series B Preferred (6)             *
      Dugald A. Fletcher                   13,998                         *
                                  1,000 Series B Preferred                *
      Anthony R. Pustorino                  6,452 (7)                     *
      Werner J. Roeder                     39,911                         *
      Anthonie C. van Ekris                   361                         *
      Salvatore J. Zizza                   18,295 (8)                     *


----------
(1)   This  information  has been  furnished  by each  Director  and Nominee for
      election as Director as of December 31, 2007.  "Beneficial  Ownership"  is
      determined  in  accordance  with  Section  16a-1(a)(2)  of the  1934  Act.
      Reflects ownership of common shares unless otherwise noted.

(2)   An asterisk  indicates that the ownership amount  constitutes less than 1%
      of the total shares outstanding.

(3)   Includes  252,481  common  shares owned  directly by Mr.  Gabelli,  10,000
      common shares owned by a family  partnership  for which Mr. Gabelli serves
      as general partner,  and 1,094,350 common shares owned by GAMCO Investors,
      Inc. or its affiliates.

(4)   Comprised of 4,200 preferred shares owned by GAMCO Investors,  Inc. or its
      affiliates.  Mr. Gabelli disclaims beneficial ownership of the shares held
      by the  discretionary  accounts  and by the  entities  named except to the
      extent of his interest in such entities.

(5)   Includes  42,244  common  shares  owned by Mr.  Colavita's  spouse and 406
      common  shares  owned  by  Mr.  Colavita's  son  for  which  he  disclaims
      beneficial ownership.

(6)   Comprised of 800 preferred shares owned by Mr. Colavita's spouse for which
      he disclaims beneficial ownership.

(7)   Includes 3,109 common shares owned by Mr. Pustorino's spouse for which he
      disclaims beneficial ownership.

(8)   Comprised of 18,295 common  shares owned by Mr.  Zizza's sons for which he
      disclaims beneficial ownership.

      The Fund pays each Director who is not affiliated  with the Adviser or its
affiliates a fee of $5,000 per year plus $750 per meeting attended in person and
$500 per telephonic meeting or Committee  meeting,  together with the Director's
actual  out-of-pocket  expenses relating to his attendance at such meetings.  In
addition,  the Audit Committee Chairman receives an annual fee of $3,000 and the
Nominating  Committee  Chairman receives an annual fee of $2,000.  The aggregate
remuneration  (not  including  out-of-pocket  expenses)  paid by the Fund to the
Directors  during the fiscal year ended  December 31, 2007  amounted to $65,531.
During the fiscal year ended  December 31, 2007,  the  Directors of the Fund met
four times. Each Director then serving in such capacity attended at least 75% of
the meetings of Directors and of any Committee of which he is a member.

AUDIT COMMITTEE REPORT

      The role of the Fund's  Audit  Committee  (the  "Audit  Committee")  is to
assist the Board of Directors in its  oversight of (i) the quality and integrity
of the Fund's financial  statement  reporting  process and the independent audit
and reviews thereof; (ii) the Fund's accounting and financial reporting policies
and practices, its internal controls, and, as appropriate, the internal controls
of certain of its service providers;  (iii) the Fund's compliance with legal and
regulatory  requirements;  and (iv) the independent registered public accounting
firm's qualifications,  independence,  and performance. The Audit Committee also
is required to prepare an audit  committee  report  pursuant to the rules of the
Securities  and  Exchange  Commission  (the "SEC") for  inclusion  in the Fund's
annual  proxy  statement.  The Audit  Committee  operates  pursuant to the Audit
Committee  Charter (the "Audit  Charter")  that was most  recently  reviewed and
approved by the Board of Directors on February 28, 2008.

      Pursuant to the Audit  Charter,  the Audit  Committee is  responsible  for
conferring  with the  Fund's  independent  registered  public  accounting  firm,
reviewing  annual  financial  statements,  approving the selection of the Fund's
independent  registered  public  accounting  firm,  and  overseeing  the  Fund's
internal controls.  The Audit Charter also contains  provisions  relating to the
pre-approval by the Audit Committee of certain non-audit services to be provided
by PricewaterhouseCoopers LLP  ("PricewaterhouseCoopers") to the Fund and to the
Adviser and certain of its


                                        7



affiliates.  The  Audit  Committee  advises  the  full  Board  with  respect  to
accounting,  auditing, and financial matters affecting the Fund. As set forth in
the Audit Charter, management is responsible for maintaining appropriate systems
for  accounting  and internal  control,  and the Fund's  independent  registered
public  accounting  firm is  responsible  for  planning  and carrying out proper
audits  and  reviews.  The  independent  registered  public  accounting  firm is
ultimately accountable to the Board of Directors and to the Audit Committee,  as
representatives  of shareholders.  The independent  registered public accounting
firm for the Fund reports directly to the Audit Committee.

      In performing  its oversight  function,  at a meeting held on February 25,
2008, the Audit Committee reviewed and discussed with management of the Fund and
PricewaterhouseCoopers  the audited  financial  statements of the Fund as of and
for the fiscal year ended  December 31, 2007,  and  discussed  the audit of such
financial statements with the independent registered public accounting firm.

      In addition, the Audit Committee discussed with the independent registered
public  accounting firm the accounting  principles  applied by the Fund and such
other matters brought to the attention of the Audit Committee by the independent
registered public accounting firm as required by Statement of Auditing Standards
No.  61,  COMMUNICATIONS  WITH  AUDIT  COMMITTEES,   as  currently  modified  or
supplemented.  The Audit Committee also received from the independent registered
public  accounting firm the written  disclosures and statements  required by the
SEC's  independence  rules,  delineating  relationships  between the independent
registered  public  accounting  firm and the Fund, and discussed the impact that
any such  relationships  might have on the objectivity  and  independence of the
independent registered public accounting firm.

      As set forth above, and as more fully set forth in the Audit Charter,  the
Audit  Committee has  significant  duties and powers in its oversight  role with
respect to the Fund's financial reporting procedures,  internal control systems,
and the independent audit process.

      The  members  of the  Audit  Committee  are  not,  and  do  not  represent
themselves  to  be,  professionally  engaged  in the  practice  of  auditing  or
accounting  and  are  not  employed  by  the  Fund  for  accounting,   financial
management,  or internal control purposes.  Moreover, the Audit Committee relies
on and  makes  no  independent  verification  of the  facts  presented  to it or
representations  made by management or the Fund's independent  registered public
accounting firm.  Accordingly,  the Audit Committee's oversight does not provide
an  independent  basis to determine that  management has maintained  appropriate
accounting  and/or  financial  reporting  principles  and policies,  or internal
controls and procedures, designed to assure compliance with accounting standards
and  applicable  laws  and  regulations.   Furthermore,  the  Audit  Committee's
considerations  and discussions  referred to above do not provide assurance that
the audit of the Fund's financial  statements has been carried out in accordance
with the  standards of the Public  Company  Accounting  Oversight  Board (United
States) or that the  financial  statements  are  presented  in  accordance  with
generally accepted accounting principles (United States).

      Based on its  consideration  of the audited  financial  statements and the
discussions  referred  to  above  with  management  and the  Fund's  independent
registered  public  accounting  firm,  and  subject  to the  limitations  on the
responsibilities  and role of the Audit Committee set forth in the Audit Charter
and those discussed above,  the Audit Committee  recommended to the Fund's Board
of Directors  that the Fund's  audited  financial  statements be included in the
Fund's Annual Report for the fiscal year ended December 31, 2007.

      SUBMITTED BY THE AUDIT COMMITTEE OF THE FUND'S BOARD OF DIRECTORS

      Anthony R. Pustorino, Chairman
      Anthony J. Colavita
      Salvatore J. Zizza

      February 28, 2008


                                        8



      The Audit  Committee  met twice during the fiscal year ended  December 31,
2007.  The  Audit  Committee  is  composed  of three of the  Fund's  Independent
Directors  (as such term is  defined by the New York  Stock  Exchange's  listing
standards (the "NYSE Listing Standards"),  namely Messrs.  Colavita,  Pustorino,
and Zizza.  Each member of the Audit  Committee has been determined by the Board
of Directors to be financially literate.

NOMINATING COMMITTEE

      The  Board of  Directors  has a  Nominating  Committee  composed  of three
Independent  Directors (as such term is defined by the NYSE Listing  Standards),
namely Messrs.  Colavita,  Roeder, and Zizza. The Nominating  Committee met once
during the fiscal year ended  December 31,  2007.  The  Nominating  Committee is
responsible  for  identifying  and   recommending  to  the  Board  of  Directors
individuals believed to be qualified to become Board members in the event that a
position is vacated or created.  The Nominating Committee will consider Director
candidates  recommended by shareholders.  In considering candidates submitted by
shareholders, the Nominating Committee will take into consideration the needs of
the Board of Directors,  the qualifications of the candidate,  and the interests
of shareholders.  The Nominating  Committee may also take into consideration the
number of shares  held by the  recommending  shareholder  and the length of time
that such shares have been held. To recommend a candidate for  consideration  by
the  Nominating  Committee,  a  shareholder  must submit the  recommendation  in
writing and must include the following information:

      o     The  name  of the  shareholder  and  evidence  of the  shareholder's
            ownership  of  shares of the Fund,  including  the  number of shares
            owned  and  the  length  of  time of  ownership;

      o     The name of the candidate,  the  candidate's  resume or a listing of
            his or her  qualifications  to be a  Director  of the Fund,  and the
            person's  consent  to be  named as a  Director  if  selected  by the
            Nominating Committee and nominated by the Board of Directors; and

      o     If requested by the  Nominating  Committee,  a completed  and signed
            directors'   questionnaire.

      The shareholder  recommendation  and  information  described above must be
sent to the Fund's  Secretary,  c/o Gabelli Funds, LLC, at One Corporate Center,
Rye, NY 10580-1422,  and must be received by the Secretary no less than 120 days
prior to the  anniversary  date of the  Fund's  most  recent  annual  meeting of
shareholders  or, if the  meeting has moved by more than 30 days,  a  reasonable
amount of time before the meeting.

      The  Nominating  Committee  believes that the minimum  qualifications  for
serving  as a  Director  of the Fund are that  the  individual  demonstrate,  by
significant  accomplishment in his or her field, an ability to make a meaningful
contribution to the Board of Directors' oversight of the business and affairs of
the Fund and have an  impeccable  record and  reputation  for honest and ethical
conduct in both his or her  professional and personal  activities.  In addition,
the Nominating Committee examines a candidate's specific experiences and skills,
time  availability  in  light  of  other  commitments,  potential  conflicts  of
interest,  and  independence  from  management  and  the  Fund.  The  Nominating
Committee  also seeks to have the Board of  Directors  represent a diversity  of
backgrounds and experience.

      The Fund's  Nominating  Committee  adopted a charter on May 12, 2004,  and
amended the charter on November 17, 2004. The charter can be found on the Fund's
website at www.gabelli.com.

OTHER BOARD-RELATED MATTERS

      The Board of Directors has established  the following  procedures in order
to facilitate  communications between the Board and the shareholders of the Fund
and other interested parties.

RECEIPT OF COMMUNICATIONS

      Shareholders  and other  interested  parties  may contact the Board or any
member of the Board by mail or electronically.  To communicate with the Board or
any member of the Board,  correspondence should be addressed to the Board or the
Board  member(s) with whom you wish to communicate by either name or title.  All
such  correspondence  should be sent c/o the Fund at  Gabelli  Funds,  LLC.  One
Corporate   Center,   Rye,  NY  10580-1422.   To  communicate   with  the  Board
electronically,  shareholders may go to the corporate website at www.gabelli.com
under the heading "Contact Us/Board of Directors."


                                        9



FORWARDING THE COMMUNICATIONS

      All  communications  received  will be opened by the office of the General
Counsel of the Adviser for the sole purpose of determining  whether the contents
represent a message to one or more Directors.  The office of the General Counsel
will forward  promptly to the  addressee(s) any contents that relate to the Fund
and that  are not in the  nature  of  advertising,  promotion  of a  product  or
service, or patently offensive or otherwise  objectionable material. In the case
of communications to the Board of Directors or any committee or group of members
of the Board, the General  Counsel's  office will make sufficient  copies of the
contents to send to each  Director  who is a member of the group or committee to
which the envelope or e-mail is addressed.

      The Fund does not expect Directors or Nominees for election as Director to
attend the Annual Meeting of Shareholders.

      The  following  table  sets  forth  certain   information   regarding  the
compensation  of the Fund's  Directors  and  officers  for the fiscal year ended
December  31, 2007.  Ms.  Martire is employed by the Fund and is not employed by
the Adviser (although she may receive incentive-based variable compensation from
affiliates of the Adviser). Officers of the Fund who are employed by the Adviser
receive no compensation or expense reimbursement from the Fund.

                                    COMPENSATION TABLE
                        FOR THE FISCAL YEAR ENDED DECEMBER 31, 2007



                                                             AGGREGATE COMPENSATION FROM
                                  AGGREGATE COMPENSATION      THE FUND AND FUND COMPLEX
NAME OF PERSON AND POSITION            FROM THE FUND       PAID TO DIRECTORS AND OFFICERS*
-------------------------------   ----------------------   -------------------------------
                                                              
INTERESTED DIRECTOR:

MARIO J. GABELLI                         $       0                  $       0 (26)
Director and
Chief Investment Officer

INDEPENDENT DIRECTORS/NOMINEES:

E. VAL CERUTTI                           $   8,000                  $  28,000 (7)
Director

ANTHONY J. COLAVITA                      $  11,500                  $ 225,000 (35)
Director

DUGALD A. FLETCHER                       $   8,000                  $  16,500 (2)
Director

ANTHONY R. PUSTORINO                     $  12,000                  $ 141,500 (14)
Director

WERNER J. ROEDER                         $   8,500                  $ 103,250 (23)
Director

ANTHONIE C. VAN EKRIS                    $   8,000                  $ 100,247 (19)
Director

SALVATORE J. ZIZZA                       $   9,531                  $ 166,250 (26)
Director

OFFICER:

LAURISSA M. MARTIRE                      $ 155,000                  $ 155,000 (2)
Vice President and Ombudsman


----------
*     Represents the total compensation paid to such persons during the fiscal
      year ended December 31, 2007 by investment companies (including the Fund)
      or portfolios thereof from which such person receives compensation that
      are considered part of the same fund complex as the Fund because they have
      common or affiliated investment advisers. The number in parentheses
      represents the number of such investment companies and portfolios.


                                       10



REQUIRED VOTE

      The  election  of each of the listed  Nominees  for  Director  of the Fund
requires the  affirmative  vote of the holders of a plurality of the  applicable
class or classes of Shares of the Fund represented at the Meeting if a quorum is
present.

      THE BOARD OF DIRECTORS, INCLUDING THE "INDEPENDENT" DIRECTORS, UNANIMOUSLY
RECOMMENDS THAT THE COMMON AND PREFERRED SHAREHOLDERS VOTE "FOR" THE ELECTION OF
EACH NOMINEE.

                             ADDITIONAL INFORMATION

INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

      PricewaterhouseCoopers,  300 Madison Avenue,  New York, NY 10017, has been
selected to serve as the Fund's  independent  registered  public accounting firm
for the fiscal year ending  December 31, 2008.  PricewaterhouseCoopers  acted as
the Fund's  independent  registered  public  accounting firm for the fiscal year
ended  December  31,  2007.  The Fund knows of no direct  financial  or material
indirect   financial   interest  of   PricewaterhouseCoopers   in  the  Fund.  A
representative of PricewaterhouseCoopers will not be present at the Meeting, but
will be available by telephone and will have an opportunity to make a statement,
if asked, and will be available to respond to appropriate questions.

      Set forth in the table  below are audit fees and  non-audit  related  fees
billed to the Fund by PricewaterhouseCoopers  for professional services received
during  and for each of the  fiscal  years  ended  December  31,  2006 and 2007,
respectively.

    FISCAL YEAR ENDED                AUDIT-RELATED                   ALL
       DECEMBER 31      AUDIT FEES       FEES*       TAX FEES**   OTHER FEES
    -----------------   ----------   -------------   ----------   ----------
         2006            $ 41,800       $ 5,833        $ 3,150        --
         2007            $ 43,900       $ 5,833        $ 5,000        --

----------
*     "Audit-Related  Fees"  are  those  estimated  fees  billed  to the Fund by
      PricewaterhouseCoopers  in connection  with the  preparation  of Preferred
      Shares Reports to Moody's Investors Service, Inc. and Fitch Ratings.

**    "Tax Fees" are those fees billed by  PricewaterhouseCoopers  in connection
      with tax compliance services, including primarily the review of the Fund's
      income tax returns.

      The Fund's Audit Charter requires that the Audit Committee pre-approve all
audit and non-audit services to be provided by the independent registered public
accounting  firm to the Fund,  and all non-audit  services to be provided by the
independent  registered public accounting firm to the Fund's Adviser and service
providers  controlling,  controlled  by, or under common control with the Fund's
Adviser  ("affiliates")  that provide on-going  services to the Fund (a "Covered
Services  Provider"),  if the engagement  relates directly to the operations and
financial   reporting  of  the  Fund.  The  Audit  Committee  may  delegate  its
responsibility to pre-approve any such audit and permissible  non-audit services
to the  Chairman  of the Audit  Committee,  and the  Chairman  must  report  his
decision(s)  to the Audit  Committee,  at its next regularly  scheduled  meeting
after the Chairman's pre-approval of such services. The Audit Committee may also
establish detailed pre-approval policies and procedures for pre-approval of such
services in accordance with applicable laws, including the delegation of some or
all of the Audit  Committee's  pre-approval  responsibilities  to other  persons
(other  than the  Adviser or the  Fund's  officers).  Pre-approval  by the Audit
Committee of any permissible  non-audit services is not required so long as: (i)
the aggregate amount of all such permissible  non-audit services provided to the
Fund, the Adviser,  and any Covered Services Provider  constitutes not more than
5% of the  total  amount  of  revenues  paid  by  the  Fund  to its  independent
registered  public  accounting  firm  during  the year in which the  permissible
non-audit  services are provided;  (ii) the permissible  non-audit services were
not  recognized  by the  Fund at the  time  of the  engagement  to be  non-audit
services;  and (iii) such services are promptly  brought to the attention of the
Audit Committee and approved by the Audit Committee or the Chairman prior to the
completion  of the audit.  All of the  audit,  audit-related,  and tax  services
described  above for which  PricewaterhouseCoopers  billed the Fund fees for the
fiscal years ended December 31, 2006 and December 31, 2007 were  pre-approved by
the Audit Committee.


                                       11



      For the fiscal year ended  December 31, 2007,  PricewaterhouseCoopers  has
represented to the Fund that it did not provide any non-audit  services (or bill
any fees for such  services)  to the  Adviser  or any  affiliates  thereof  that
provide services to the Fund.

THE INVESTMENT ADVISER AND ADMINISTRATOR

      Gabelli  Funds,  LLC is the  Fund's  Adviser  and  Administrator  and  its
business address is One Corporate Center, Rye, New York 10580-1422.

COMPLIANCE WITH THE SECURITIES EXCHANGE ACT OF 1934

      Section  16(a) of the 1934 Act and Section  30(h) of the 1940 Act, and the
rules thereunder, require the Fund's executive officers and Directors, executive
officers and directors of the Adviser,  certain other affiliated  persons of the
Adviser,  and persons who own more than 10% of a registered  class of the Fund's
securities  to file reports of ownership  and changes in ownership  with the SEC
and the New York  Stock  Exchange  and to  furnish  the Fund with  copies of all
Section  16(a) forms they file.  Based solely on the Fund's review of the copies
of such forms it received for the fiscal year ended  December 31, 2007, the Fund
believes that during that year such persons  complied  with all such  applicable
filing requirements.

BROKER NON-VOTES AND ABSTENTIONS

      For  purposes of  determining  the  presence  of a quorum for  transacting
business at the Meeting,  abstentions and broker  "non-votes"  (that is, proxies
from  brokers  or  nominees  indicating  that  such  persons  have not  received
instructions  from the beneficial owner or other persons entitled to vote shares
on a particular matter with respect to which the brokers or nominees do not have
discretionary  power)  will be treated as shares  that are present but that have
not been voted.  Accordingly,  shareholders  are urged to forward  their  voting
instructions promptly.

      The affirmative  vote of a plurality of votes cast for each Nominee by the
shareholders  entitled to vote for a  particular  Nominee is  necessary  for the
election of a Director.  Abstentions or broker  non-votes will not be counted as
votes  cast and will have no effect on the  result of the vote.  Abstentions  or
broker non-votes,  however,  will be considered to be present at the Meeting for
purposes of determining the existence of a quorum.

      Shareholders  of the Fund will be  informed  of the voting  results of the
Meeting in the Fund's Semi-Annual Report dated June 30, 2008.

                    OTHER MATTERS TO COME BEFORE THE MEETING

      The  Directors of the Fund do not intend to present any other  business at
the  Meeting,  nor are they  aware  that any  shareholder  intends to do so. If,
however, any other matters, including adjournments,  are properly brought before
the Meeting,  the persons named in the  accompanying  proxy will vote thereon in
accordance with their judgment.

                              SHAREHOLDER PROPOSALS

      All  proposals  by  shareholders  of the Fund  which  are  intended  to be
presented at the Fund's next Annual Meeting of  Shareholders  to be held in 2009
must be received by the Fund for consideration for inclusion in the Fund's proxy
statement  and proxy  relating to that  meeting no later than  December 3, 2008.
There are additional  requirements  regarding  proposals of shareholders,  and a
shareholder  contemplating  submission  of a proposal  is referred to Rule 14a-8
under the 1934 Act.


                                       12



      IT IS IMPORTANT THAT PROXIES BE RETURNED PROMPTLY. SHAREHOLDERS WHO DO NOT
EXPECT TO ATTEND THE MEETING ARE THEREFORE  URGED TO COMPLETE,  SIGN,  DATE, AND
RETURN THE PROXY CARD AS SOON AS POSSIBLE IN THE ENCLOSED POSTAGE-PAID ENVELOPE.



                                                                     GCV-PS-2008



                                                                                                       
                                                                                         [BAR CODE]

            [LOGO]   GABELLI FUNDS

                                                                                         [BAR CODE]   C123456789

                                000004                                                   000000000.000000 ext   000000000.000000 ext
            MR A SAMPLE                                                                  000000000.000000 ext   000000000.000000 ext
            DESIGNATION (IF ANY)                                                         000000000.000000 ext   000000000.000000 ext
            ADD 1
            ADD 2
[BAR CODE]  ADD 3
            ADD 4
            ADD 5
            ADD 6

            [BAR CODE]

   Using a black ink pen, mark your votes with an X as shown in
   this example. Please do not write outside the designated areas.   [X]

------------------------------------------------------------------------------------------------------------------------------------
                The Gabelli Convertible and Income Securities Fund Inc. Annual Meeting Proxy Card Common Shareholder
------------------------------------------------------------------------------------------------------------------------------------
                o PLEASE FOLD ALONG THE PERFORATION, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. o
------------------------------------------------------------------------------------------------------------------------------------

   [A] Election of  Directors -- The Board of Directors recommends a vote FOR each of the nominees listed.

   1. To elect two (2) Directors of the Fund:

                                  For  Withhold                                For  Withhold                                       +
   01 - Anthonie C. van Ekris     [ ]     [ ]      02 - Salvatore J. Zizza     [ ]     [ ]

   [B] Non-Voting Items

   Change of Address -- Please print new address below.              Comments -- Please print your comments below.
   ---------------------------------------------------------------   ---------------------------------------------------------------

   ---------------------------------------------------------------   ---------------------------------------------------------------

   [C] Authorized Signatures -- This section must be completed for your vote to be counted. -- Date and Sign Below

   Please sign this proxy exactly as your name(s) appear(s) in the records of the Fund. If joint owners, either may sign. Trustees
   and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must
   sign. If a corporation, this signature should be that of an authorized officer who should state his or her title.

   Date (mm/dd/yyyy) -- Please print       Signature 1 -- Please keep signature   Signature 2 -- Please keep signature within the
   date below.                             within the box.                        box.
   -------------------------------------   ------------------------------------   --------------------------------------------------
           /        /
   -------------------------------------   ------------------------------------   --------------------------------------------------

                                           C 1234567890                  J N T    MR A SAMPLE (THIS AREA IS SET UP TO ACCOMMODATE
                                                                                  140 CHARACTERS) MR A SAMPLE AND MR A SAMPLE AND
                                                                                  MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND
   [ ]   [BAR CODE]                        1 U P X               0 1 7 2 0 5 1    MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND  +


(STOCK#)   00VJJE




             
                o PLEASE FOLD ALONG THE PERFORATION, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. o
------------------------------------------------------------------------------------------------------------------------------------

   [LOGO]

   ---------------------------------------------------------------------------------------------------------------------------------
   Proxy -- The Gabelli Convertible and Income Securities Fund Inc.                                               Common Shareholder
   ---------------------------------------------------------------------------------------------------------------------------------

   This proxy is solicited on behalf of the Board of Directors

   The undersigned hereby appoints Mario J. Gabelli,  Agnes Mullady and Bruce N. Alpert, and each of them,  attorneys and proxies of
   the  undersigned,  with full powers of  substitution  and  revocation,  to represent the undersigned and to vote on behalf of the
   undersigned all shares of The Gabelli  Convertible and Income Securities Fund Inc. (the "Fund") which the undersigned is entitled
   to vote at the Annual Meeting of  Shareholders of the Fund to be held at The Cole  Auditorium,  The Greenwich  Library,  101 West
   Putnam  Avenue,  Greenwich,  Connecticut  06830 on  Monday,  May 19,  2008 at 8:30 a.m.,  and at any  adjournments  thereof.  The
   undersigned  hereby  acknowledges  receipt of the Notice of Meeting and Proxy  Statement and hereby  instructs said attorneys and
   proxies to vote said shares as indicated herein. In their discretion, the proxies are authorized to vote upon such other business
   as may properly come before the Meeting.

   A majority of the proxies present and acting at the Meeting in person or by substitute (or, if only one shall be so present, then
   that one) shall have and may exercise all of the power and authority of said proxies  hereunder.  The undersigned  hereby revokes
   any proxy previously given.

   This proxy, if properly executed, will be voted in the manner directed by the undersigned  shareholder.  If no direction is made,
   this proxy will be voted FOR the election of the nominees as Directors and in the  discretion of the proxy holder as to any other
   matter that may properly come before the Meeting. Please refer to the Proxy Statement for a discussion of Proposal No. 1.

   --------------------------------------------------------------------------------------------
   PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE.
   --------------------------------------------------------------------------------------------





                                                                                                       
                                                                                         [BAR CODE]

            [LOGO]   GABELLI FUNDS

                                                                                         [BAR CODE]   C123456789

                                000004                                                   000000000.000000 ext   000000000.000000 ext
            MR A SAMPLE                                                                  000000000.000000 ext   000000000.000000 ext
            DESIGNATION (IF ANY)                                                         000000000.000000 ext   000000000.000000 ext
            ADD 1
            ADD 2
[BAR CODE]  ADD 3
            ADD 4
            ADD 5
            ADD 6

            [BAR CODE]

   Using a black ink pen, mark your votes with an X as shown in
   this example. Please do not write outside the designated areas.   [X]

------------------------------------------------------------------------------------------------------------------------------------
                The Gabelli Convertible and Income Securities Fund Inc. Annual Meeting Proxy Card Series B Preferred
------------------------------------------------------------------------------------------------------------------------------------
                o PLEASE FOLD ALONG THE PERFORATION, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. o
------------------------------------------------------------------------------------------------------------------------------------

   [A] Election of Directors -- The Board of Directors recommends a vote FOR each of the nominees listed.

   1. To elect three (3) Directors of the Fund:

                                  For  Withhold                              For  Withhold                           For  Withhold +
   01 - Anthony J. Colavita       [ ]     [ ]    02 - Anthonie C. van Ekris  [ ]     [ ]    03 - Salvatore J. Zizza  [ ]     [ ]

   [B] Non-Voting Items

   Change of Address -- Please print new address below.              Comments -- Please print your comments below.
   ---------------------------------------------------------------   ---------------------------------------------------------------

   ---------------------------------------------------------------   ---------------------------------------------------------------

   [C] Authorized Signatures -- This section must be completed for your vote to be counted. -- Date and Sign Below

   Please sign this proxy exactly as your name(s) appear(s) in the records of the Fund. If joint owners, either may sign. Trustees
   and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must
   sign. If a corporation, this signature should be that of an authorized officer who should state his or her title.

   Date (mm/dd/yyyy) -- Please print       Signature 1 -- Please keep signature   Signature 2 -- Please keep signature within the
   date below.                             within the box.                        box.
   -------------------------------------   ------------------------------------   --------------------------------------------------
           /        /
   -------------------------------------   ------------------------------------   --------------------------------------------------

                                           C 1234567890                  J N T    MR A SAMPLE (THIS AREA IS SET UP TO ACCOMMODATE
                                                                                  140 CHARACTERS) MR A SAMPLE AND MR A SAMPLE AND
                                                                                  MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND
   [ ]   [BAR CODE]                        1 U P X               0 1 7 1 9 7 1    MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND  +


(STOCK#)   00VJED




             
                o PLEASE FOLD ALONG THE PERFORATION, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. o
------------------------------------------------------------------------------------------------------------------------------------

   [LOGO]

   ---------------------------------------------------------------------------------------------------------------------------------
   Proxy -- The Gabelli Convertible and Income Securities Fund Inc.                                               Series B Preferred
   ---------------------------------------------------------------------------------------------------------------------------------

   This proxy is solicited on behalf of the Board of Directors

   The undersigned hereby appoints Mario J. Gabelli,  Agnes Mullady and Bruce N. Alpert, and each of them,  attorneys and proxies of
   the  undersigned,  with full powers of  substitution  and  revocation,  to represent the undersigned and to vote on behalf of the
   undersigned all shares of The Gabelli  Convertible and Income Securities Fund Inc. (the "Fund") which the undersigned is entitled
   to vote at the Annual Meeting of  Shareholders of the Fund to be held at The Cole  Auditorium,  The Greenwich  Library,  101 West
   Putnam  Avenue,  Greenwich,  Connecticut  06830 on  Monday,  May 19,  2008 at 8:30 a.m.,  and at any  adjournments  thereof.  The
   undersigned  hereby  acknowledges  receipt of the Notice of Meeting and Proxy  Statement and hereby  instructs said attorneys and
   proxies to vote said shares as indicated herein. In their discretion, the proxies are authorized to vote upon such other business
   as may properly come before the Meeting.

   A majority of the proxies present and acting at the Meeting in person or by substitute (or, if only one shall be so present, then
   that one) shall have and may exercise all of the power and authority of said proxies  hereunder.  The undersigned  hereby revokes
   any proxy previously given.

   This proxy, if properly executed, will be voted in the manner directed by the undersigned  shareholder.  If no direction is made,
   this proxy will be voted FOR the election of the nominees as Directors and in the  discretion of the proxy holder as to any other
   matter that may properly come before the Meeting. Please refer to the Proxy Statement for a discussion of Proposal No. 1.

   --------------------------------------------------------------------------------------------
   PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE.
   --------------------------------------------------------------------------------------------




                                                                                                       
                                                                                         [BAR CODE]

            [LOGO]   GABELLI FUNDS

                                                                                         [BAR CODE]   C123456789

                                000004                                                   000000000.000000 ext   000000000.000000 ext
            MR A SAMPLE                                                                  000000000.000000 ext   000000000.000000 ext
            DESIGNATION (IF ANY)                                                         000000000.000000 ext   000000000.000000 ext
            ADD 1
            ADD 2
[BAR CODE]  ADD 3
            ADD 4
            ADD 5
            ADD 6

            [BAR CODE]

   Using a black ink pen, mark your votes with an X as shown in
   this example. Please do not write outside the designated areas.   [X]

------------------------------------------------------------------------------------------------------------------------------------
                The Gabelli Convertible and Income Securities Fund Inc. Annual Meeting Proxy Card Series C Preferred
------------------------------------------------------------------------------------------------------------------------------------
                o PLEASE FOLD ALONG THE PERFORATION, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. o
------------------------------------------------------------------------------------------------------------------------------------

   [A] Election of Directors -- The Board of Directors recommends a vote FOR each of the nominees listed.

   1. To elect three (3) Directors of the Fund:

                                  For  Withhold                              For  Withhold                           For  Withhold +
   01 - Anthony J. Colavita       [ ]     [ ]    02 - Anthonie C. van Ekris  [ ]     [ ]    03 - Salvatore J. Zizza  [ ]     [ ]

   [B] Non-Voting Items

   Change of Address -- Please print new address below.              Comments -- Please print your comments below.
   ---------------------------------------------------------------   ---------------------------------------------------------------

   ---------------------------------------------------------------   ---------------------------------------------------------------

   [C] Authorized Signatures -- This section must be completed for your vote to be counted. -- Date and Sign Below

   Please sign this proxy exactly as your name(s) appear(s) in the records of the Fund. If joint owners, either may sign. Trustees
   and other fiduciaries should indicate the capacity in which they sign, and where more than one name appears, a majority must
   sign. If a corporation, this signature should be that of an authorized officer who should state his or her title.

   Date (mm/dd/yyyy) -- Please print       Signature 1 -- Please keep signature   Signature 2 -- Please keep signature within the
   date below.                             within the box.                        box.
   -------------------------------------   ------------------------------------   --------------------------------------------------
           /        /
   -------------------------------------   ------------------------------------   --------------------------------------------------

                                           C 1234567890                  J N T    MR A SAMPLE (THIS AREA IS SET UP TO ACCOMMODATE
                                                                                  140 CHARACTERS) MR A SAMPLE AND MR A SAMPLE AND
                                                                                  MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND
   [ ]   [BAR CODE]                        1 U P X               0 1 7 2 0 5 3    MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND  +


(STOCK#)   00VJME




             
                o PLEASE FOLD ALONG THE PERFORATION, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. o
------------------------------------------------------------------------------------------------------------------------------------

   [LOGO]

   ---------------------------------------------------------------------------------------------------------------------------------
   Proxy -- The Gabelli Convertible and Income Securities Fund Inc.                                               Series C Preferred
   ---------------------------------------------------------------------------------------------------------------------------------

   This proxy is solicited on behalf of the Board of Directors

   The undersigned hereby appoints Mario J. Gabelli,  Agnes Mullady and Bruce N. Alpert, and each of them,  attorneys and proxies of
   the  undersigned,  with full powers of  substitution  and  revocation,  to represent the undersigned and to vote on behalf of the
   undersigned all shares of The Gabelli  Convertible and Income Securities Fund Inc. (the "Fund") which the undersigned is entitled
   to vote at the Annual Meeting of  Shareholders of the Fund to be held at The Cole  Auditorium,  The Greenwich  Library,  101 West
   Putnam  Avenue,  Greenwich,  Connecticut  06830 on  Monday,  May 19,  2008 at 8:30 a.m.,  and at any  adjournments  thereof.  The
   undersigned  hereby  acknowledges  receipt of the Notice of Meeting and Proxy  Statement and hereby  instructs said attorneys and
   proxies to vote said shares as indicated herein. In their discretion, the proxies are authorized to vote upon such other business
   as may properly come before the Meeting.

   A majority of the proxies present and acting at the Meeting in person or by substitute (or, if only one shall be so present, then
   that one) shall have and may exercise all of the power and authority of said proxies  hereunder.  The undersigned  hereby revokes
   any proxy previously given.

   This proxy, if properly executed, will be voted in the manner directed by the undersigned  shareholder.  If no direction is made,
   this proxy will be voted FOR the election of the nominees as Directors and in the  discretion of the proxy holder as to any other
   matter that may properly come before the Meeting. Please refer to the Proxy Statement for a discussion of Proposal No. 1.

   --------------------------------------------------------------------------------------------
   PLEASE VOTE, DATE AND SIGN ON THE REVERSE SIDE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE.
   --------------------------------------------------------------------------------------------