The S&P 500 Index consists of 500 stocks chosen for market size, liquidity and industry group representation. It is a market-value weighted index (stock price times the number of shares outstanding) with each stock's weight in the index proportionate to its market value. The "500" is one of the most widely used benchmarks of U.S. equity performance.The MSCI World Index is a market capitalization weighted index composed of companies representative of the market structure of developed market countries in North America, Europe, and the Asia/Pacific region. The index is calculated without dividends, with net or with gross dividends reinvested, in both U.S. dollars and local currencies. Unmanaged index returns assume reinvestment of any and all distributions and do not reflect any fees, expenses or sales charges. Investors can not invest directly in an index. Before investing, carefully consider the Fund's investment objectives, risks, charges and expenses. Please see the prospectus containing this and other information or call 800-582-6959. Read it carefully. (1) The Calamos Growth & Income Fund's Class A shares received 5 stars for 3 years, 5 stars for 5 years, and 5 stars for 10 years out of 1,545, 1,298 and 739 Large Growth funds, respectively for the period ended 6/30/10. (2) The Calamos Global Growth & Income Fund's Class A shares received 5 stars for 3 years, 5 stars for 5 years, and 4 stars for 10 years out of 594, 471 and 259 World Stock funds, respectively, for the period ended 6/30/10. Source: Morningstar, Inc. Morningstar Ratings are based on risk-adjusted returns. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with a fund's 3, 5 and 10 year (if applicable) Morningstar Rating metrics. Ratings are for Class A shares, the other classes may have different performance characteristics.