Gabelli Funds, LLC is pleased to announce that it is immediately increasing the yield on the
Gabelli U. S. Treasury Money Market Fund (the "Fund") (GABXX: NASDAQ) by voluntarily waiving
a larger portion of its management fee and maintaining total expenses at 8 basis points or
0.08% of the average net assets for the period from December 1, 2005 through June 30, 2006.
"Our desire is to make the Gabelli U.S. Treasury Money Market Fund one of the most attractive
money market funds in its class. We believe that an increase in the fee waiver by 22 basis
points is a giant step in that direction," said Bruce N. Alpert, President of the Fund.
"The quality of U.S. Treasury securities coupled with low expenses and the exemption from
state and local income taxes of its dividends translates into a tax effective yield competitive
with any fund in the industry."
The Gabelli U. S. Treasury Money Market Fund is a money market mutual fund managed by Gabelli
Funds, LLC, a wholly owned subsidiary of GAMCO Investors, Inc. (GBL: NYSE). The Fund invests
exclusively in U.S. Treasury securities and its dividends derived from such securities are
exempt from state and local income taxes. The Fund's primary objective is high current income
consistent with the preservation of principal and liquidity.
An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance
Corporation or any other government agency. Although the Fund seeks to preserve the value
of your investment at $1.00 per share, it is possible to lose money by investing in the Fund.
There is no guarantee that the Fund can achieve its investment objective. Investors should
consider the investment objectives, risks, charges and expenses of the fund carefully before
investing. The prospectus contains more complete information about this and other matters
and should be read carefully before investing. You can obtain a free prospectus by calling
Gabelli & Company, Inc. at 1-800-GABELLI (1-800-422-3554).