Calamos Investments has added three new share classes to the Calamos Government Money Market Fund. Class A, B and C shares will join Class I shares, which were launched on May 16, 2007. John Calamos said his Naperville, Illinois-based company launched the shares in response to current market conditions that promote risk-managed products.

Company Press Release

Calamos Investments announces the launch of Class A, B and C shares of Calamos Government Money Market Fund. Class I shares, designed primarily for institutional investors, were launched on May 16, 2007.

"Liquidity, low risk, and performance are principal considerations for institutional and retail clients alike, and we believe Calamos Government Money Market is well positioned to address those needs. The addition of retail share classes provides more investors with access to Calamos' experienced team and to our risk-conscious approach to cash management," said John P. Calamos, Sr., chairman, chief executive officer, and co-chief investment officer of Calamos Investments.

Calamos Government Money Market Fund seeks maximum current income consistent with liquidity and stability of capital. The Fund invests exclusively in U.S. Government obligations, including U.S. Treasury bills, notes, bonds and other obligations issued or guaranteed by the U.S. Government, its agencies or instrumentalities, and repurchase agreements backed by such obligations.

"In recent months, several money market funds have come under pressure for taking on added risk. We believe recent market conditions underscore the potential benefits of a cash management solution that follows a high-quality, truly risk-conscious mandate, as does Calamos Government Money Market Fund," said John P. Calamos, Sr.

The Fund draws upon the contributions and experience of a deep team of investment professionals. Within the portfolio management team, four senior members have primary and supervisory responsibility for the Fund: Co-Chief Investment Officers John P. Calamos, Sr. and Nick P. Calamos, CFA; Director of Fixed Income Matthew Toms, CFA; and Senior Strategy Analyst Frank Rachwalski, CFA.

John P. Calamos, Sr., is chairman, chief executive officer and co-chief investment officer of the firm he founded in 1977, which he took public as Calamos Asset Management in 2004. Nick P. Calamos, CFA, is senior executive vice president, co-chief investment officer and head of investments.

Matthew Toms, CFA, is a senior vice president and director of fixed income. Joining Calamos Investments in 2007, Mr. Toms has 13 years of experience in fixed-income portfolios across multiple strategies, including core, core plus, high-yield and global bond portfolios, and has been responsible for the generation and implementation of investment strategies across all sectors of the global bond markets.

Frank Rachwalski, CFA, is a senior vice president and senior strategy analyst. Mr. Rachwalski contributes more than 30 years of fixed-income experience, including senior management and research positions in which he was responsible for managing more than $40 billion in taxable, tax-exempt, government and non-government money market mutual funds. He joined Calamos Investments in 2007.

Calamos Government Money Market Fund's expense ratio seeks to be highly competitive with other top government money market funds. The total annual operating expenses for the Fund's Class A shares are not to exceed 0.52%, below the average for the Lipper U.S. Government Money Funds peer group. This adherence to low expenses is designed to help the Fund maintain a favorable yield.

Investors may purchase Class A, Class B and Class C shares of the Fund by exchanging Class A, Class B and Class C shares, respectively, of another fund in the Calamos Family of Funds. The minimum initial direct investment for Class A shares of the Fund is $2500. For certain qualified retirement plans, such as individual retirement accounts, the minimum initial investment is $500. The minimum subsequent investment in Class A shares of the Fund is $50. Direct investments into Class B and C shares are permitted under systematic investment plans only.

The Fund received a rating of "AAAm" from Standard & Poor's and a rating of "Aaa" from Moody's. The Standard & Poor's rating indicates the agency's opinion that the Fund offers extremely strong capacity to maintain principal stability and to limit exposure to loss due to credit, market and/or liquidity risks. The Moody's rating reflects Moody's opinion of the strong overall credit quality of the Fund's investments, the highly liquid portfolio structure, the conservative investment guidelines and practices of the advisor, the Fund's effective operating controls and compliance procedures. Standard & Poor's and Moody's Investors Service fund ratings represent opinions only and are not a recommendation to buy or sell.

To learn more about Calamos Government Money Market Fund and the Calamos Family of Funds, visit us on the web at http://www.calamos.com/. About Calamos Investments Calamos Investments is a diversified investment firm offering equity, fixed-income, convertible and alternative investment strategies, among others. The firm serves institutions and individuals via separately managed accounts and a family of open-end and closed-end funds, providing a risk-managed approach to capital appreciation and income-producing strategies. For more information, visit http://www.calamos.com/.

Important Information About Risk

An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, this share price is not guaranteed and you could lose money by investing in the Fund.

Before investing, carefully consider the Fund's investment objectives, risks, charges and expenses. Contact 800.582.6959 for a prospectus containing this and other information. Read it carefully.

Calamos Financial Services LLC, Distributor.<.i>

Edited by: Erin Kello

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