Company Press Release

Calamos Launches Dividend Growth Fund

NAPERVILLE, Ill., Aug. 5, 2013 -- Calamos Investments®* today announced the launch of the Calamos Dividend Growth Fund (A Shares: CADVX; C Shares: CCDVX; I Shares: CIDVX; R Shares: CRDVX) as of August 5, 2013. The fund will be available for U.S. investors. Fund details are available at www.calamos.com/dividendgrowth.

"The Calamos Dividend Growth Fund is intended to address investors' desire for income and is a measured extension of our existing investment capabilities," said John Calamos, Sr., Chief Executive Officer and Global Co-Chief Investment Officer of Calamos Investments.

The fund will be managed by the Calamos Value Team, led by Jeff Miller, Senior Vice President and Co-Portfolio Manager. The team joined Calamos in July of 2012, at which time they assumed management of the Calamos Value Fund.

"The Calamos Value Team has a long history of investing in the strong dividend paying sectors of the U.S. stock market, particularly in financial, consumer, and energy-related securities. In addition, our team members' backgrounds in levered loans, loan workouts and preferred securities provides us with a unique mix of balance sheet and income-focused expertise. By combining our focus on strong operating businesses that have the potential to increase dividends over time with our use of income-enhancing options and trading strategies, we intend for the fund to provide investors with a steady stream of income, capital appreciation and lower volatility relative to its benchmark over the long term," said Miller.

The investment objective of the Calamos Dividend Growth Fund is to seek income and capital appreciation primarily through dividend-paying equities. The fund, under normal market conditions, invests at least 80 percent of its net assets in dividend-paying common and preferred stocks and interest or units in Master Limited Partnerships (MLPs). Companies in certain economic sectors of the market have historically provided higher dividend yields than companies in other sectors and industries. As a result, given the fund's focus on dividend-paying securities, the fund may, from time to time, have a greater exposure to these higher dividend yield sectors and industries than the broader equity market. The fund may invest up to 25 percent of its net assets in non-U.S. securities.

About Calamos

?Calamos Investments LLC is a diversified global investment firm offering innovative investment strategies including equity, lower-volatility equity, fixed income, convertible and alternative investments. The firm offers strategies through separately managed portfolios, mutual funds, closed-end funds, private funds and UCITS funds. Clients include major corporations, pension funds, endowments, foundations and individuals, as well as the consultants and financial advisors who serve them. Headquartered in the Chicago metropolitan area, the firm also has offices in London and New York.

For more information visit www.calamos.com.

*Calamos Investments LLC, referred to herein as Calamos Investments®, is a financial services company offering such services through its subsidiaries: Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Investments LLP and Calamos Financial Services LLC.

Important Risk Information

?An investment in the fund is sub­ject to risks, and you could lose money on your investment in the fund. There can be no assurance that the fund will achieve its investment objective. Your investment in the fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the fund can increase during times of significant market volatility. The fund also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the fund's prospectus.

Some of the risks associated with investing in alternatives may include hedging risk, derivative risk, short sale risk, interest rate risk, credit risk, liquidity risk, non-U.S. government obligation risk and portfolio selection risk. Alternative investments may not be suitable for all investors.

The principal risks of investing in the Calamos Dividend Growth Fund include the risk of: declining equity values; losses from MLPs related to lack of portfolio diversification, changes in tax laws, lack of liquidity, declining equity values, and conflicts over control rights; incorrect selection or judgments on portfolio holdings by the investment advisor; increased transaction costs because of frequent turnover; losses from currency fluctuations; lack of liquidity or correlation to underlying securities in the options market; and potential illiquidity of securities purchased privately under Rule 144A. More detailed information regarding these risks can be found in the fund's prospectus. The principal risks of investing in the Calamos Value Fund include: equity securities risk, value stock risk, small and mid-sized company risk, foreign securities risk, portfolio selection risk, portfolio turnover risk and options risk.