YEAR-END DIVIDEND NOTICE
The Gabelli Global Convertible Securities Fund

FOR IMMEDIATE RELEASE
Rye, New York
December 29, 2004

The Gabelli Global Convertible Securities Fund - Class AAA (Fund # 441) (GAGCX-Nasdaq), Class A (Fund # 1638), Class B (Fund # 1639) and Class C (Fund # 1640) continues its policy of distributing $0.10 per share monthly 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. Currently, approximately 10.3% of the distribution is from capital gains and 82.6% of the distribution is a non-taxable return of capital. The actual determination of the source of distributions will be made after the end of the year via Form 1099-DIV.

Dividend (per share) Record Date Ex-Dividend, Payment and
Reinvestment Date
$0.10 December 28, 2004 December 29, 2004

The Gabelli Global Convertible Securities Fund is managed by Gabelli Funds, LLC and distributed by Gabelli & Company, Inc.

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