The Gabelli Westwood Funds listed below announced year end distributions. The distributions are payable December 20, 1999 to shareholders of record on December 17, 1999. The ex-dividend and reinvestment date is December 20, 1999.

	Source of Distribution (per share)
	Total
The Gabelli Westwood Balanced Fund - Retail Class (WEBAX)	$0.060 per share
The Gabelli Westwood Balanced Fund - Service Class (WEBCX)	$0.052 per share
The Gabelli Westwood Realty Fund	$0.120 per share

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 Alpert at 914-921-5105 or 1-800-GABELLI (1-800-422-3554).