DIVIDEND NOTICE
GABELLI GLOBAL GROWTH FUND

FOR IMMEDIATE RELEASE
Rye, NY
January 26, 2001

The Gabelli Global Growth Fund redesignated the source of its year end distribution which was paid on December 27, 2000 to shareholders of record on December 26, 2000. The per share redesignation is as follows:
Long Term Gain $1.481 93.14%
Non-Taxable Return of Capital $0.109 6.86%
Total $1.590 100.00%

The Gabelli Funds are managed by Gabelli Funds, LLC 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).