Gabelli Westwood Funds Renamed

FOR IMMEDIATE RELEASE
Rye, NY
January 11, 2005
For information contact:
Jason Swirbul: 914-921-5496
Jennifer Camac: 914-921-6594

For further information visit our
Website at: www.gabelli.com


Gabelli Advisers, Inc. is pleased to announce that the Gabelli Westwood Funds has been renamed The Westwood Funds. The Westwood family of funds offers investors a wide choice of investment strategies.

Each fund in The Westwood Funds series has been renamed as follows:

    Westwood Equity Fund
    Westwood Balanced Fund
    Westwood SmallCap Equity Fund
    Westwood Mighty MitesSM Fund
    Westwood Realty Fund
    Westwood Intermediate Bond Fund

The Westwood Funds' investment objectives, ticker symbols, share classes and cusips remain the same.

A prospectus for The Westwood Funds can be obtained by calling Gabelli & Company, Inc. at 800-GABELLI (800-422-3554) or by visiting www.gabelli.com. The Westwood Funds are distributed by Gabelli & Company, Inc., One Corporate Center, Rye, NY 10580.

Investors should consider the investment objectives, risks, charges and expenses of a fund carefully before investing. The prospectus contains more complete information about this and other matters and should be read carefully before investing.

Gabelli Advisers, Inc., which advises The Westwood Funds, is a subsidiary of Gabelli Asset Management Inc., a publicly traded asset management company (GBL: NYSE) that manages through its subsidiaries approximately $28 billion in assets of mutual funds and closed-end funds, partnerships and private advisory accounts.

Westwood Management Corp. is the sub-adviser to five of the six Westwood Funds portfolios and is a wholly-owned subsidiary of Westwood Holdings Group, Inc., a publicly traded asset management company (WHG: NYSE) which, through its subsidiaries manages approximately $4 billion in assets for pension funds, public retirement plans, endowments and foundations, mutual funds and trust accounts.