YEAR-END DIVIDEND NOTICE
The Westwood Funds
FOR IMMEDIATE RELEASE
Rye, New York
December 20, 2005


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).