The Gabelli Westwood Funds listed below announced year end distributions. The distributions are payable December 20, 1999 to shareholders of record on December 17, 1999. The ex-dividend and reinvestment date is December 20, 1999.

	Source of Distribution (per share)
	Total	Net Investment Income	Short Term Capital Gains	Long Term Capital Gains
The Gabelli Westwood Funds:
Balanced Fund - Retail Class (WEBAX)	$0.881	$0.069	$0.242	$0.570
Balanced Fund - Service Class (WEBCX)	$0.873	$0.061	$0.242	$0.570
Equity Fund - Retail Class (WESWX)	$1.203	$0.022	$0.484	$0.697
Equity Fund - Service Class (WEECX)	$1.181	---	$0.484	$0.697
Realty Fund (WESRX)	$0.114	$0.114	---	---
Mighty Mites sm (WEMMX)	$1.717	$0.101	$1.616	---
SmallCap Equity (WESCX)	$0.790	---	$0.322	$0.468

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).