Calamos Blue Chip Strategy

Calamos Blue Chip Strategy Performance Comparison—
Annualized Returns as of 6/30/08

Inception: 1/2004

Portfolio Strategy

Invests in larger, established companies with balance sheet strength, which can help mitigate downside risk
Applies proprietary models to determine the return potential of both growth and value companies, favoring either style based on bottom-up analysis and a top-down overlay of macro-economic themes
Includes companies in the S&P 500 Index and Dow Jones Industrial Average with at least $2 billion in market capitalization that possess blue chip characteristics
Seeks businesses with diversified product lines that can increase productivity to maintain growth
Aims to invest in a diversified mix of what we believe to be the best opportunities at any point in the economic cycle

Strategy Materials

Calamos Market Commentary and Outlook

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted.

Returns presented reflect the Calamos Blue Chip Composite which is an actively managed composite primarily investing in common and preferred stocks issued by well established, well known and financially viable companies. The Composite includes all fully discretionary fee paying accounts, including those no longer with the Firm. Accounts valued at less than $500,000 are not included. Returns cited are net of commission and other similar fees charged on securities transactions and include reinvestment of net realized gains and interest. Returns greater than 12 months are annualized.

The S&P 500 Index is an unmanaged index generally considered representative of the domestic large-cap stock market.

Investors cannot invest directly in an index.

Source: Russell/Mellon Analytical Services LLC and Calamos Advisors LLC.

Calamos Advisors LLC is a federally registered investment advisor. Part II of Form ADV, which provides background information about the firm and its business practices, is available upon written request to:

Calamos Advisors LLC
2020 Calamos Court
Naperville, IL 60563-2787
Attn: Compliance Office