The Gabelli Funds listed below announced year end distributions. The distributions are payable December 27, 1999 to shareholders of record on December 23, 1999. The ex-dividend and reinvestment date is December 27, 1999.

	Source of Distribution (per share)
	Total	Net Investment Income	Short Term Capital Gains	Long Term Capital Gains
Asset Fund(GABAX)	$4.630	---	$0.420	$4.210
Growth Fund(GABGX)	$5.160	---	$1.500	$3.660
Global Telecom Fund(GABTX)	$2.940	$0.045	$0.840	$2.055
Global Convertible Securities Fund(GAGCX)	$1.390	$0.030	$1.130	$0.230
ABC Fund(GABCX)	$1.000	$0.145	$0.795	$0.060
Mathers Fund(MATRX)	$0.460	$0.460	---	---
Value Fund(GABVX)	$1.720	---	$0.410	$1.310
International Growth Fund(GIGRX)	$0.970	$0.100	$0.400	$0.470
Global Growth® Fund(GICPX)	$1.465	$0.003	$0.862	$0.600
Global Opportunity Fund(GABOX)	$0.850	---	$0.730	$0.120
Capital Asset Fund(a)	$1.885	$0.023	$0.262	$1.600
Blue Chip Value Fund(GABBX)	$0.125	---	$0.125	---
Utilities Fund(GABUX)	$1.325	$0.025	$1.300	---
The Gabelli Capital Asset Fund is an investment option for The Guardian Investor, a variable annuity issued by The Guardian Insurance & Annuity Company.

The Gabelli Funds are managed by Gabelli Advisers Inc. and distributed by Gabelli & Company, Inc.

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