The Comstock Funds announced the August distribution from net investment income for the Comstock Strategy Fund. The dividend is payable on August 29, 2000 to shareholders of record on August 28, 2000. The ex-dividend, payment and reinvestment date is August 29, 2000.

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