The Gabelli Utilities Fund

Rye, NY
May 26, 2006
For information contact:
Bruce N. Alpert
Ph: (914) 921-5105 or 1-800-GABELLI

  The Gabelli Utilities Fund will pay the following monthly distributions:

Share Class Dividend
(per share)
Record Date Ex-Dividend, Payment and
Reinvestment Date
Class AAA - Fund #470
$0.07 May 25, 2006 May 26, 2006
Class A - Fund #1653
$0.07 May 25, 2006 May 26, 2006
Class B - Fund #1654
(GAUBX - Nasdaq)
$0.07 May 25, 2006 May 26, 2006
Class C - Fund #1655
(GAUCX - Nasdaq)
$0.07 May 25, 2006 May 26, 2006

The source of the distribution is net investment income, capital gains and return of capital. Based on current earnings on a book basis, approximately $0.013 per share is from net investment income, $0.017 per share is from capital gains and $0.040 per share is a return of capital.

The final determination of the proportion of capital gains, ordinary income and non-taxable return of capital, if any distributed in 2006 will be made after year-end. All shareholders will receive written notification regarding the components and tax treatment for all 2006 distributions in early 2007 via Form 1099-DIV.

The Gabelli Utilities Fund is managed by Gabelli Funds, LLC and distributed by Gabelli & Company, Inc., subsidiaries of GAMCO Investors, Inc. (NYSE:GBL)