(NYSE: DCS) Claymore Dividend & Income Fund (“DCS” or the “Fund”) a closed-end management investment company, announces that it is increasing its quarterly dividend by 25% to $0.125 per share, effective with its November 2010 dividend. The increased dividend compares to the $0.10 per share for the Fund’s most recent dividend. The November 2010 dividend will be paid on November 30, 2010 to shareholders of record as of November 15, 2010 with an ex-dividend date of November 10, 2010.

For additional commentary, news, portfolio holdings and other regularly updated information, please visit the Fund’s website at www.guggenheimfunds.com/DCS.

Claymore Securities, Inc. has changed its name to Guggenheim Funds Distributors, Inc. The change marks the next phase of business integration following the acquisition of Claymore by Guggenheim Partners announced on Oct. 15, 2009. The Guggenheim Funds business will continue to support the current product lineup of exchange-traded funds (ETFs), unit investment trusts (UITs) and closed-end funds (CEFs), with their respective strategies and investment policies remaining unchanged.

Guggenheim Funds Distributors, Inc. and its affiliates (together, “Guggenheim Funds”) offers strategic investment solutions for financial advisors and their valued clients. As an innovator in exchange-traded funds (ETFs), unit investment trusts (UITs) and closed-end funds (CEFs), Guggenheim Funds often leads its peers with creative investment strategy solutions. Guggenheim Funds and its affiliates provide supervision, management or servicing of assets with a commitment to consistently delivering exceptional service. Guggenheim Funds is a wholly-owned subsidiary of Guggenheim Partners, LLC, a global, diversified financial services firm with more than $100 billion in assets under supervision. Guggenheim Partners, through its affiliates, provides investment management, investment advisory, insurance, investment banking, and capital markets services. The firm is headquartered in Chicago and New York with a global network of offices throughout the United States, Europe, and Asia.

Manning & Napier Advisors, Inc. serves as the Fund’s Investment Sub-Adviser. Manning & Napier has been a registered investment adviser since 1970. For more than 35 years, Manning & Napier has focused on managing clients’ investments through a variety of market conditions, including five bear markets. The firm managed approximately $25 billion for individuals, corporations, defined benefit pension plans, 401(k) choice plans, Taft-Hartley accounts, endowments, foundations and municipal retirement plans as of June 30, 2010. It remains an employee-owned firm, with 100% of the firm owned by full-time employees.

There can be no assurance that the Fund will achieve its investment objectives. The net asset value of the Fund will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value. Past performance is not indicative of future performance. An investment in the Fund is subject to certain risks and other considerations. Such risks and considerations include, but are not limited to: Investment Risk, Equity Risk, Preferred Securities Risk, Income Risk, “Value Investing” Risk, Interest Rate Risk, Inflation Risk, Lower-Grade Securities Risk, Foreign Securities Risk, Derivatives Risk, Illiquid Securities Risk, Fund Distribution Risk, Market Discount Risk, Industry Concentration Risk, Other Investment Companies Risk, Non-Diversified Status Risk, Financial Leverage Risk, Management Risk, Current Developments Risk and Anti-Takeover Provisions, and Market Disruption Risk.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Fund carefully before they invest. For this and more information, please contact a securities representative or Guggenheim Funds Distributors, Inc., 2455 Corporate West Drive, Lisle, Illinois 60532, 800-345-7999.

Member FINRA/SIPC (10/10)

NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE

Copyright Business Wire 2010

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