Calamos Tax Center

As a result of tax law changes in 2003, all or a portion of your ordinary income dividend from a fund may be taxed at a lower rate of 15% (or 5% for shareholders in the 15% or lower tax bracket) rather than the higher marginal rates applicable to ordinary income.

Qualified dividends are generally defined as distributions from domestic corporations and certain qualified foreign corporations. A portion of a fund's dividend may not qualify for the lower tax rates, if it's derived from non-qualified sources, such as interest income and short-term gains.

The amount of your dividend that's eligible for the lower tax rates is reported in Box 1b of your Form 1099-DIV mailed in January 2005. To be eligible for the lower tax rates, you must have held your shares for at least 61 days during the 121-day period beginning 60 days before the ex-dividend date of the fund.

2004 Open-End Mutual Fund Qualified Dividends
Choose a Share Class

Domestic Equity
Fund A Shares Ticker Symbol (Inception Date)	Quarter/Ex-Date	Total Income Per Share	Qualified Dividends Per Share	Qualified Dividends %
Growth Fund CVGRX (9/4/90)	1Q: 3/25/2004	-	-	-
Growth Fund CVGRX (9/4/90)	2Q: 6/24/2004	-	-	-
	3Q: 9/23/2004	-	-	-
	4Q: 12/30/2004	-	-	-
Growth and Income Fund CVTRX (9/22/88)	1Q: 3/25/2004	0.05922	0.024511	41.39%
Growth and Income Fund CVTRX (9/22/88)	2Q: 6/24/2004	0.14836	0.069907	47.12%
	3Q: 9/23/2004	0.07835	0.049885	63.67%
	4Q: 12/30/2004	0.17007	0.108284	63.67%
Value Fund CVAAX (1/2/02)	1Q: 3/25/2004	-	-	-
Value Fund CVAAX (1/2/02)	2Q: 6/24/2004	-	-	-
	3Q: 9/23/2004	-	-	-
	4Q: 12/30/2004	-	-	-
Blue Chip Fund CBCAX (12/1/03)	1Q: 3/25/2004	-	-	-
Blue Chip Fund CBCAX (12/1/03)	2Q: 6/24/2004	-	-	-
	3Q: 9/23/2004	-	-	-
	4Q: 12/30/2004	0.00990	0.00990	100.00%
Global/International
Global Growth and Income Fund CVLOX (9/9/96)	1Q: 3/25/2004	-	-	-
Global Growth and Income Fund CVLOX (9/9/96)	2Q: 6/24/2004	-	-	-
	3Q: 9/23/2004	-	-	-
	4Q: 12/30/2004	-	-	-
Convertible/Convertible Blends
Convertible Fund¹ CCVIX (6/21/85)	1Q: 3/25/2004	0.19769	0.008006	4.05%
Convertible Fund¹ CCVIX (6/21/85)	2Q: 6/24/2004	0.11293	0.015426	13.66%
	3Q: 9/23/2004	0.10109	0.028831	28.52%
	4Q: 12/30/2004	0.14671	0.041842	28.52%
Market Neutral Income Fund² CVSIX (9/4/90)	1Q: 3/25/2004	0.05951	0.000190	0.32%
Market Neutral Income Fund² CVSIX (9/4/90)	2Q: 6/24/2004	0.32319	0.003426	1.06%
	3Q: 9/23/2004	0.12421	0.004273	3.44%
	4Q: 12/30/2004	0.37282	0.012825	3.44%
Fixed Income
High Yield Fund CHYDX (8/2/99)	1Q: 3/25/2004	0.14788	0.002056	1.39%
High Yield Fund CHYDX (8/2/99)	2Q: 6/24/2004	0.20356	0.004275	2.10%
	3Q: 9/23/2004	0.16052	0.003917	2.44%
	4Q: 12/30/2004	0.19625	0.004789	2.44%
The table of dividends including the income dividends paid by Calamos funds that qualify for the lower dividend rates is provided here for informational purposes only and to assist you in your tax planning. On preparing your tax return, please refer to the amount in Box 1b of your Form 1099-DIV and consult your legal or tax advisor. ¹The Calamos Convertible Fund is closed to new investments, subject to exceptions enumerated in the prospectus. ²Formerly named the Calamos Market Neutral Fund.