As previously announced, the Gabelli Global Convertible Securities Fund will continue its policy of distributing $0.10 per month to each of its classes of shares on the third business day prior to each month end. The source of the distributions will be net investment income and capital gains, if any, or paid in capital.

The distribution schedule for the second quarter of 2001 will be as follows:

The Gabelli Global Convertible Securities Fund is managed by Gabelli Funds, LLC and distributed by Gabelli & Company, Inc. A. Hartswell Woodson, III is the team portfolio manager.

For further information call Bruce N. Alpert at 914-921-5105 or 1-800-GABELLI (1-800-422-3554).