DIVIDEND NOTICE
THE GABELLI WESTWOOD FUNDS
FOR IMMEDIATE RELEASE
Rye, New York
March 21, 2005

    The Westwood Funds announced quarterly distributions. The payment, ex-dividend and reinvestment date is
    March 21, 2005 to shareholders of record on March 18, 2005.

    Fund # Fund Name Distribution
    (per share)
    The Gabelli Westwood Balanced Fund  
    708
    Class AAA (WEBAX)
    		 $0.0471
    709
    Class A (WEBCX)
    		 $0.0329
    1112
    Class B (WBCBX)
    		 $0.0026
    1113
    Class C (WBCCX)
    		 $0.0035
    The Gabelli Westwood Realty Fund  
    465
    Class AAA (WESRX)
    		 $0.0783
    1120
    Class A
    		 $0.0707
    1121
    Class B
    		 $0.0239
    1122
    Class C
    		$0.0230

    The Westwood Funds are managed by Gabelli Advisers, Inc. and distributed by Gabelli & Company, Inc.,
    subsidiaries of Gabelli Asset Management Inc., which is a publicly traded NYSE listed company. Westwood
    Management Corporation, a subsidiary of Westwood Holdings Group, Inc., is the Sub-adviser for these
    Funds. For further information call Bruce N. Alpert at 914-921-5105 or 1-800-GABELLI (1-800-422-3554).