<PAGE> PAGE 1
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007 C010300 3
007 C020300 THE GABELLI GLOBAL INTERACTIVE COUCH POTATO F
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007 C010400 4
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 15
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<PAGE> PAGE 17
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SIGNATURE BRUCE N. ALPERT
TITLE V. PRES./TREASURER
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<NAME> GABELLI GLOBAL SERIES
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
Board of Directors
The Gabelli Global Series Funds,Inc
consisting of:
The Gabelli Global Telecommunciations Fund
The Gabelli Global Interactive Couch Potato Fund
The Gabelli Global Convertible Securities Fund
The Gabelli Global Opportunity Fund
In planning and performing our audit of the financial statements of The
Gabelli Global Series Funds, Inc. for the year ended December 31, 1999,
we considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing procedures for
the purpose of expressing our opinion on the financial statements and to
comply with the requirements of Form N-SAR, not to provide assurance on
internal control.
The management of The Gabelli Global Series Funds, Inc. is responsible
for establishing and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are required to
assess the expected benefits and related costs of controls. Generally,
controls that are relevant to an audit pertain to the entity's objective
of preparing financial statements for external purposes that are fairly
presented in conformity with generally accepted accounting principles.
Those controls include the safeguarding of assets against unauthorized
acquisition, use, or disposition.
Because of inherent limitations in internal control, errors or fraud
may occur and not be detected. Also, projection of any evaluation of
internal control to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of internal control would not necessarily disclose
all matters in internal control that might be material weaknesses under
standards established by the American Institute of Certified Public
Accountants. A material weakness is a condition in which the design or
operation of the specific internal control components does not reduce
to a relatively low level the risk that errors or fraud in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the
normal course of performing their assigned functions. However, we noted
no matters involving internal control, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above
as of December 31, 1999.
This report is intended solely for the information and use of management,
the Board of Directors of The Gabelli Global Sereis Funds, Inc., and the
Securities and Exchange Commission.
GRANT THORNTON LLP
New York, New York
February 11, 2000
