(1) Maximum Sales Charge for Class A shares is a percentage of the initial investment and may be reduced based on the size of your investment. Class B and C shares have a contingent deferred sales charge when you redeem your shares depending on your holding period. Please see the Fund's Prospectus or contact your Adviser for a complete description of the applicable sales charge.
(2) Gross Expense Ratio is the expenses of the Fund reflected as a percentage of the Fund's average daily net assets and do not include any voluntary or contractual fee waivers or expense limitations as described in the Fund Prospectus.
(3) Net Expense Ratio is the expenses of the Fund including any voluntary or contractual fee waivers or expense limitations as a percentage of the Fund's average daily net assets. Where applicable, please see the Fund's Prospectus or contact your Adviser for a complete description of the fee waiver or expense limitation, the effective date and the expiration date.

Inception Date: May 11, 1998
The past performance noted does not guarantee future results. Total returns and average annual returns reflect changes in share price, reinvested dividends and capital gains and are net of expenses. Due to market volatility, current performance may be lower or higher than the figures shown. Investment results and the principal value of an investment will fluctuate. When shares are redeemed, they may be worth more or less than their original cost. If expenses had not been capped at 1.5% of net assets for AAA shares, returns would have been lower.
Performance is for Class AAA only. Other share classes may have different performance charecteristics.
The historical performance of Class AAA Shares is used to calculate performance for Class A, Class B and Class C Shares prior to their issuance. Class A and Class B Shares both commenced on March 1, 2000 and Class C Shares were continuously outstanding commencing on November 23, 2001.

The GAMCO Global Series Funds invests in foreign securities which involves risks not ordinarily associated with investments in domestic issues, including currency fluctuation, economic and political risks.

The Fund's share price will fluctuate with changes in the market value of the Fund's portfolio securities. Stocks are subject to market, economic and business risks that cause their prices to fluctuate. When you sell Fund shares, they may be worth less than what you paid for them. Consequently, you can lose money by investing in the Fund.

Investors should consider the investment objectives, risks, sales charges and expense of the fund carefully before investing. The prospectus contains more complete information about this and other matters. The prospectus should be read carefully before investing.

You can obtain a free prospectus by calling Gabelli & Company, Inc. at 1-800-GABELLI (1-800-422-3554), or contacting your financial representative or by visiting http://www.gabelli.com.

Distributed by Gabelli & Company, Inc. One Corporate Center, Rye, NY 10580.