Gabelli Global Convertible Securities Fund
To Pay Distributions Quarterly

FOR IMMEDIATE RELEASE
Rye, NY
May 20, 2005 		For information contact:
Bruce N. Alpert
Ph: (914) 921-5105 or 1-800-GABELLI

    The Board of Directors of The Gabelli Global Convertible Securities Fund announced distributions and a change in the Fund's distribution policy. The Fund will begin to pay distributions on a quarterly basis to better align its distributions with its net investment income. The Fund's next distribution is detailed below:

    Share Class Distribution Rate
    (per share)    		 Record Date Ex-Dividend, Payment
    & Reinvestment Date
    Class AAA - Fund #441
    (GAGCX-Nasdaq)    		 $0.03 June 27, 2005 June 28, 2005
    Class A - Fund #1638 $0.03 June 27, 2005 June 28, 2005
    Class B - Fund #1639 $0.03 June 27, 2005 June 28, 2005
    Class C - Fund #1640 $0.03 June 27, 2005 June 28, 2005

    The Fund intends to pay $0.03 per share on a quarterly basis in March, June, September and December. Distributions had been paid monthly at the rate of $0.10 per month. The Board of Directors will continue to review its distribution policy and the Fund's income available for distribution on a quarterly basis.

    The final determination of the proportion of capital gains, ordinary income and non-taxable return of capital distributed in 2005 will be made after year-end. All shareholders will receive written notification regarding the components and tax treatment for all 2005 distributions in early 2006 via Form 1099-DIV.

    The Gabelli Global Convertible Securities Fund is managed by Gabelli Funds, LLC and distributed by Gabelli & Company, Inc., subsidiaries of Gabelli Asset Management Inc. (NYSE: GBL).