YEAR-END DIVIDEND NOTICE
The Westwood Funds
FOR IMMEDIATE RELEASE
Rye, New York
December 20, 2006


The Westwood Funds announced year-end distributions. The payment, ex-dividend and reinvestment date is December 20, 2006 to shareholders of record on December 19, 2006.

    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)   $1.667   $0.057   $0.300   $1.310
709 Balanced Fund - Class A (WEBCX)   $1.659   $0.049   $0.300   $1.310
1112 Balanced Fund - Class B (WBCBX)   $1.645   $0.035   $0.300   $1.310
1113 Balanced Fund - Class C (WBCCX)   $1.643   $0.033   $0.300   $1.310
 
465 Income Fund Class AAA (WESRX)   $2.485   $0.035   $0.040   $2.410
1120 Income Fund Class A   $2.478   $0.028   $0.040   $2.410
1121 Income Fund Class B   $2.461   $0.011   $0.040   $2.410
1122 Income Fund Class C   $2.460   $0.010   $0.040   $2.410
 
ANNUAL DISTRIBUTION
704 Equity Fund - Class AAA (WESWX)   $2.073   $0.053   $0.090   $1.930
705 Equity Fund - Class A (WEECX)   $2.042   $0.022   $0.090   $1.930
1110 Equity Fund - Class B   $2.020 ---   $0.090   $1.930
1111 Equity Fund - Class C   $2.020 ---   $0.090   $1.930
 
464 SmallCap Equity Fund Class AAA (WESCX)   $0.160   $0.160 --- ---
1114 SmallCap Equity Fund Class A (WWSAX)   $0.144   $0.144 --- ---
1115 SmallCap Equity Fund Class B   $0.037   $0.037 --- ---
1116 SmallCap Equity Fund Class C   $0.089   $0.089 --- ---
 
460 Mighty Mites sm Class AAA (WEMMX)   $2.460 --- ---   $2.460
1117 Mighty Mites sm Class A (WMMAX)   $2.460 --- ---   $2.460
1118 Mighty Mites sm Class B (WMMBX)   $2.460 --- ---   $2.460
1119 Mighty Mites sm Class C (WMMCX)   $2.460 --- ---   $2.460
 
(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).