The Gabelli Westwood Funds announced year-end distributions. The payment, ex-dividend and reinvestment date is December 20, 2005 to shareholders of record on December 19, 2005.

		Source of Distribution (per share)
Fund #		Total	Net Investment Income (a)	Short Term Capital Gains (a)	Long Term Capital Gains
QUARTERLY DISTRIBUTION
708	Balanced Fund - Class AAA (WEBAX)	$ 0.9153	$ 0.0659	$ 0.04	$ 0.8094
709	Balanced Fund - Class A (WEBCX)	$ 0.9071	$ 0.0577	$ 0.04	$ 0.8094
1112	Balanced Fund - Class B (WBCBX)	$ 0.8913	$ 0.0419	$ 0.04	$ 0.8094
1113	Balanced Fund - Class C (WBCCX)	$ 0.8905	$ 0.0411	$ 0.04	$ 0.8094
465	Income Fund Class AAA (WESRX)	$ 4.392	$ 0.0580	$ 0.26	$ 4.074
1120	Income Fund Class A	$ 4.367	$ 0.0330	$ 0.26	$ 4.074
1121	Income Fund Class B	$ 4.334	---	$ 0.26	$ 4.074
1122	Income Fund Class C	$ 4.334	---	$ 0.26	$ 4.074
ANNUAL DISTRIBUTION
704	Equity Fund - Class AAA (WESWX)	$ 0.0488	$ 0.0488	---	---
705	Equity Fund - Class A (WEECX)	$ 0.0444	$ 0.0444	---	---
1110	Equity Fund - Class B	$ 0.0283	$ 0.0283	---	---
1111	Equity Fund - Class C	$ 0.0340	$ 0.0340	---	---
706	Intermediate Bond Fund Class AAA (WEIBX)	$0.0146	---	$0.0084	$0.0062
1123	Intermediate Bond Fund Class A	$0.0146	---	$0.0084	$0.0062
1124	Intermediate Bond Fund Class B	$0.0146	---	$0.0084	$0.0062
1125	Intermediate Bond Fund Class C	$0.0146	---	$0.0084	$0.0062
460	Mighty Mites sm Class AAA (WEMMX)	$2.024	---	$0.014	$2.01
1117	Mighty Mites sm Class A (WMMAX)	$2.024	---	$0.014	$2.01
1118	Mighty Mites sm Class B (WMMBX)	$2.024	---	$0.014	$2.01
1119	Mighty Mites sm Class C (WMMCX)	$2.024	---	$0.014	$2.01
464	SmallCap Equity - All Classes	None	---	---	---
(a) Taxable as ordinary income. The percentage of qualified dividend income subject to the 15% maximum tax rate for individuals will be determined after year-end.

The Westwood Funds are managed by Gabelli Advisers, Inc. and distributed by Gabelli & Company, Inc., subsidiaries of GAMCO Investors, Inc. (GBL:NYSE), which is a publicly traded NYSE listed company. For further information call Bruce N. Alpert at 914-921-5105 or 1-800-GABELLI (1-800-422-3554).