The Gabelli Global Convertible Securities Fund - Class AAA and Class A shares will distribute its monthly distribution at the rate of $0.10 per share payable August 29, 2000 to shareholders of record on August 28, 2000. The ex-dividend, payment and reinvestment date is August 29, 2000.

The distribution is being made as part of the Fund's policy of annually distributing at least 10% of its net asset value. It will distribute $0.10 per month on the third business day prior to each month end. The distribution in December will be the greater of $0.10 or such amount to avoid the payment of Federal taxes. The source of the distributions will be net investment income and capital gains, if any, or paid in capital.

The Gabelli Global Convertible Securities Fund is managed by Gabelli Funds, LLC and distributed by Gabelli & Company, Inc. A. Hartswell Woodson, III is the portfolio manager.

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