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Calamos Investments Limits Purchases For Calamos Growth And Income Fund And Calamos Global Growth And Income Fund

NAPERVILLE, Ill., Dec. 20, 2011 /PRNewswire/ -- Calamos Investments announces that, effective as of the close of business on January 20, 2012, the Calamos Growth and Income Fund (A shares: CVTRX; B shares: CVTYX; C shares: CVTCX; I shares: CGIIX; R shares: CGNRX) and the Calamos Global Growth and Income Fund (A shares: CVLOX; B shares: CVLDX; C shares: CVLCX; I shares: CGCIX; R shares: CVLRX) will be closed to new investors with certain exceptions.

"We believe this decision to be in the best interest of current shareholders in both of these Calamos funds. Our Investment Team continually monitors the flow of assets into our funds and determines what we believe to be the most effective way to execute the individual strategies of the funds. We believe that in order to maintain the funds' quality and integrity, it is necessary to limit inflows at this time," says John P. Calamos, Sr., Calamos Advisors LLC CEO and Co-Chief Investment Officer.

"The investment strategies of both the Calamos Growth and Income Fund and the Calamos Global Growth and Income Fund utilize convertible securities in an effort to lower the funds' volatility. Our view of the convertible market remains constructive. However, we believe there has been a lower than normal issuance of convertibles due to a persistently low interest rate environment. In addition, convertible issuance has come predominantly from companies with non-investment grade ratings and we tend to be biased toward securities with higher credit quality. Lastly, convertible redemptions are currently exceeding issuance in the U.S., which reduces the size of the market.  For these reasons, we believe that in a capacity constrained asset class such as convertibles, the size of a fund becomes important," says Calamos.

Effective as of the close of business on January 20, 2012, purchases into the Calamos Growth and Income Fund and the Calamos Global Growth and Income Fund will be limited. The funds will be closed to new investors, but current shareholders will be allowed to add to their accounts. The funds will continue to accept reinvestment of dividends and capital gains distributions on shares. New investors will still be accepted from certain platform level asset allocation models within fee-based programs and from certain retirement plans (as defined in the funds' prospectus supplements).

For more information about the Calamos Growth and Income Fund and the Calamos Global Growth and Income Fund, including further details about the limiting of new purchases and a supplement to the prospectus for each fund discussing these changes, please visit http://www.calamos.com/fundinvestor/mutualfunds.  Questions about the funds can be addressed to Calamos Client Services at 1.800.582.6959 Monday through Friday 8 a.m. to 6 p.m. Central Time.

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