March 17, 2003


Securities and Exchange Commission
Division of Investment Management
450 Fifth Street, N.W.
Washington, D.C. 20549

                         Re:      The Gabelli Convertible and Income
                                  Securities Fund Inc. (811-05715)
                                  Investment Company Act Rule 23c-2 Notification
                                  ----------------------------------------------

Dear Sir or Madam:

         In accordance with Rule 23c-2 promulgated under the Investment
Company Act of 1940, as amended (the "1940 Act"), The Gabelli Convertible and
Income Securities Fund Inc. (the "Fund") is hereby providing notice of its
intention to call or redeem all or a portion of its Series B 6.00% Cumulative
Preferred Stock, par value $.001 per share (the "Series B Preferred"), on the
date determined in accordance with the mandatory redemption provisions of
Article II paragraph 3 of the Articles Supplementary creating and fixing the
rights of the Series B Preferred (the "Articles Supplementary").

         The date on which any Series B Preferred shares will be mandatorily
called or redeemed pursuant to Article II paragraph 3 of the Articles
Supplementary will be no more than 30 days after a failure by the Fund to
maintain the asset coverage required of it under the 1940 Act or meet the
basic asset maintenance amount tests required of it by the rating agencies
that rate the Fund's preferred stock at its request (each a "Coverage Test"
and collectively the "Coverage Tests") that was not cured on or prior to the
applicable cure date (a "Coverage Test Failure").

         The amount of Series B Preferred to be called or redeemed upon the
occurrence of a Coverage Test Failure will be an amount determined by the
Fund's Board of Directors that is (when aggregated with any other preferred
stock of the Fund then being called or redeemed) the lesser of (i) the minimum
amount of preferred stock, including the Series B Preferred, the redemption of
which, if deemed to have occurred immediately prior to the opening of business
on the relevant cure date, would result in the Fund meeting each applicable
Coverage Test or (ii) the maximum amount of preferred stock, including the
Series B Preferred, that can be redeemed out of the Fund's available funds.

         In addition, in the event of a Coverage Test Failure the Fund may,
but is not obligated to, mandatorily call or redeem pursuant to Article II
paragraph 3 of the Articles Supplementary an additional amount of preferred
stock, including the Series B Preferred, in order that immediately following
such redemption the Fund would have asset coverage with respect to its
remaining preferred stock outstanding of 220% asset coverage under the 1940
Act and 110% of the asset maintenance amount required under any other Coverage
Test.

         In the event that less than all of the Series B Preferred shares then
outstanding are to be called or redeemed in connection with a Coverage Test
Failure by the Fund, the Series B Preferred shares to be so called or redeemed
will be selected proportionally from among the holders of Series B Preferred
shares on the basis of shares held, by lot or by such other method as the Fund
shall deem fair and equitable.

                                          Very truly yours,

                                          THE GABELLI CONVERTIBLE AND INCOME
                                            SECURITIES FUND INC.


                                          By: /s/ Bruce N. Alpert
                                             -----------------------------------
                                          Name:  Bruce N. Alpert
                                          Title: President