The Gabelli Westwood Funds announced quarterly dividends from net investment income. The payment, ex-dividend and reinvestment date is September 20, 2000 to shareholders of record on September 19, 2000.

	Distribution (per share)
The Gabelli Westwood Balanced Fund - Retail Class (WEBAX)	$0.0660
The Gabelli Westwood Balanced Fund - Service Class (WEBCX)	$0.0635
The Gabelli Westwood Realty Fund	$0.070

The Gabelli Westwood Funds are managed by Gabelli Advisers, Inc. and distributed by Gabelli & Company, Inc., subsidiaries of Gabelli Asset Management Inc., which is a publicly traded NYSE listed company.

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