GABELLI GLOBAL SERIES FUNDS INC
497, 1995-06-20
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                       GABELLI GLOBAL SERIES FUNDS, INC.

                   Supplement to Prospectus Dated May 1, 1995

     On May 17, 1995, the shareholders of The Gabelli Global  Telecommunications
Fund approved the Rule 12b-1 Plan of  Distribution  a full  description of which
appears on page 13 of the Prospectus.



May 17, 1995



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