Company Press Release

Calamos Launches Long/Short Mutual Fund

Product continues Calamos leadership in Alternatives Asset Class

Investments®* announces the launch of the Calamos Long/Short Fund (A Shares: CALSX; C Shares: CCLSX; I Shares: CILSX; R Shares: CRLSX) as of June 2, 2013. Fund details, including a video featuring commentary by Brendan Maher, Senior Vice President and Co-Portfolio Manager of the Calamos Long/Short Fund, are available at www.calamos.com/longshort.

The Calamos Long/Short Fund seeks to achieve its investment objective of long-term capital appreciation primarily by taking long and short positions in equity securities of large and mid-cap U.S. companies. The Calamos Long/Short Fund seeks to provide equity-like returns with the potential for lower volatility versus long-only funds through active stock selection and by adjusting market exposures within its portfolio, generally maintaining a net long exposure.

"The Calamos Long/Short Mutual Fund continues the firm's leadership in the alternatives asset class. From our pioneering role in convertible securities in the 1970s to the 1990 launch of one of the first liquid alternative mutual funds, the Calamos Market Neutral Income Fund, Calamos Investments has embraced liquid alternatives solutions and the benefits they provide to a client's asset allocation. The addition of our long/short team last summer and the launch of this product demonstrate our commitment to the alternatives space and to the continued measured expansion of the Calamos Investment Team and product platform," stated John P. Calamos, Sr., Chief Executive Officer and Global Co-Chief Investment Officer of Calamos Investments.