IMPORTANT TAX INFORMATION FOR 1999
FOR IMMEDIATE RELEASE
Rye, NY
January 26, 2000		 For information:
1-800-GABELLI
The Gabelli Family of Funds announced the Dividend Tax Breakdowns for the Closed End Funds for 1999.

Gabelli Equity Trust Common Stock
Gabelli Equity Trust -- 7.25% Tax Advantaged Cumulative Pfd Stock

The Gabelli Multimedia Trust Common Stock
The Gabelli Multimedia Trust 7.92% Cumulative Pfd Stock

The Gabelli Convertible Securities Fund Common Stock
The Gabelli Convertible Securities Fund 8.00% Cumulative Pfd Stock

Gabelli Utility Trust Common Stock