The Gabelli Westwood Funds listed below announced year end distributions. The distributions are payable December 20, 2000 to shareholders of record on December 19, 2000. The ex-dividend and reinvestment date is December 20, 2000.

	Source of Distribution (per share)
	Total	Net Investment Income	Short Term Capital Gains	Long Term Capital Gains	Reinvest. Price
Balanced Fund - Class AAA (WEBAX)	$1.179	$0.079	$0.201	$0.899	$ 11.27
Balanced Fund - Class A (WEBCX)	$1.170	$0.070	$0.201	$0.899	$ 11.23
Equity Fund - Class AAA (WESWX)	$1.322	$0.013	$0.180	$1.129	$ 9.61
Equity Fund - Class A (WEECX)	$1.309	---	$0.180	$1.129	$ 9.59
Realty Fund (WESRX)	$0.064	$0.064	---	---	$ 9.30
Mighty Mites sm Class AAA (WEMMX)	$2.543	$0.083	$1.830	$0.630	$ 10.66
Mighty Mites sm Class A	$2.526	$0.066	$1.830	$0.630	$ 10.66
SmallCap Equity (WESCX)	$4.956	---	$3.443	$1.513	$ 11.87

The Gabelli Westwood 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).