Funds In The News

• In a recent interview with Investor's Business Daily, Nick Calamos spoke about the firm's investment approach in a number of Calamos funds and holdings.
  
  The co-chief investment officer of Calamos Investments, discussed the team's convertible business valuation process which focuses on free cash flow and a "business's entire structure, including its debt, its convertibles, loans on its book . . . and upside potential". From a growth stock perspective, the team takes a purist approach, looking for "acceleration in revenues growth or earnings or return on capital. Anything that can drive business valuation." Simultaneously, the team looks for quality and sustainability of that growth. ("Calamos Hunts Stocks That Can Accelerate Earnings, Sustain Growth" June 3, 2008. To access the interview, visit investorsbusinessdaily.com. A subscription is required)
• Morningstar analyst report says "So what if Calamos Growth & Income has trouble fitting in? It's a terrific fund" (May 30, 2008). Reprint
• Calamos Growth and Income Fund named one of the 'six strong, steady performers that delivered both profits and peace of mind' in Fortune's article "Funds That Let You Sleep at Night" (May 12, 2008). Reprint
• Calamos Growth Fund ranked as the 'Top Growth Fund' since April 4, 1994's market low and since January 31, 1994's market peak by Investor's Business Daily (April 30, 2008). Reprint
• The Wall Street Journal article, ''Avoiding the Danger Zone'' called Calamos Market Neutral Income Fund a long-short fund with a ''strong track record and reasonable expenses'' (March 3, 2008)
• In Bloomberg's news feature "Best in Class" for 2008, Morningstar analyst Marta Norton recommends Calamos Market Neutral Income Fund for "management's tenure" and "strong track record" since its 1990 inception. She also discussed the investment team's use of convertible arbitrage, and noted that Calamos Investment has "a lot of expertise in what they are doing." The segment was originally broadcast on February 12, 2008.
  
  To view the segment, visit Bloomberg.com. Type in search word "Calamos".
• In the article "Bond Funds: Separating the Wheat from the Chaff" (January 24, 2008), Morningstar calls Calamos Market Neutral Income Fund "one of the few [long-short funds] that's proven its merit over a longer time horizon"

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.