Calamos Tax Center

Capital gains are the result of the Funds' sale of securities that have appreciated in price. The investment management team may sell assets that have had price gains when the team believes the securities are no longer appropriately valued. Securities that have appreciated in value may also be sold to maintain an appropriate level of diversification within the portfolio.

Our main focus at Calamos is to position our Funds to pursue the highest long-term total returns with an appropriate amount of risk, based on each Fund's investment objective. We are always tax aware and we attempt to mitigate annual taxable gains in our portfolios when prudent. Accordingly, as shown below, the Convertible Fund and Market Neutral Income Funds' capital gains distributions are long-term capital gains paid in December 2008. For individuals, long-term capital gains are taxed at a maximum rate of 15%; while short-term capital gains (gains on shares held for one year or less) are generally taxed at your ordinary income rate.

2008 Capital Gains: Open-End Mutual Funds
The Record Date for distributions shown is December 17, 2008 with ex-dividend, pay, and reinvestment dates of December 18, 2008.
Gains shown are for each common share.

Fund Name Short-Term
Capital Gain ($)		 Long-Term
Capital Gain ($)		 Total ($) Reinvest NAV
Domestic Equity
Growth Fund
Class A CVGRX
 0.00000 0.00000 0.00000 -
Class B CVGBX
 0.00000 0.00000 0.00000 -
Class C CVGCX
0.00000 0.00000 0.00000 -
Class I CGRIX
0.00000 0.00000 0.00000 -
Class R CGRRX
0.00000 0.00000 0.00000 -
Growth and Income Fund
Class A CVTRX
 0.00000 0.00000 0.00000 -
Class B CVTYX
 0.00000 0.00000 0.00000 -
Class C CVTCX
0.00000 0.00000 0.00000 -
Class I CGIIX
0.00000 0.00000 0.00000 -
Class R CGNRX
 0.00000 0.00000 0.00000 -
Value Fund
Class A CVAAX
 0.00000 0.00000 0.00000 -
Class B CVABX
 0.00000 0.00000 0.00000 -
Class C CVACX
 0.00000 0.00000 0.00000 -
Class I CVAIX
0.00000 0.00000 0.00000 -
Class R CVARX
 0.00000 0.00000 0.00000 -
Blue Chip Fund
Class A CBCAX
 0.00000 0.00000 0.00000 -
Class B CBCBX
 0.00000 0.00000 0.00000 -
Class C CBXCX
 0.00000 0.00000 0.00000 -
Class I CBCIX
0.00000 0.00000 0.00000 -
Class R CBCRX
 0.00000 0.00000 0.00000 -
Multi-Fund Blend *
Class A CMQAX
 0.00000 0.00000 0.00000 -
Class B CMQBX
 0.00000 0.00000 0.00000 -
Class C CMQCX
 0.00000 0.00000 0.00000 -
Class I CMQIX
0.00000 0.00000 0.00000 -
Class R CMQRX
 0.00000 0.00000 0.00000 -
130/30 Equity Fund
Class A CELSX
 0.00000 0.00000 0.00000 -
Class B CELBX
 0.00000 0.00000 0.00000 -
Class C CELCX
0.00000 0.00000 0.00000 -
Class I CELIX
 0.00000 0.00000 0.00000 -
Class R CELRX
0.00000 0.00000 0.00000 -
Global/International
Global Growth and Income Fund
Class A CVLOX
 0.00000 0.00000 0.00000 -
Class B CVLDX
 0.00000 0.00000 0.00000 -
Class C CVLCX
 0.00000 0.00000 0.00000 -
Class I CGCIX
0.00000 0.00000 0.00000 -
Class R CVLRX
 0.00000 0.00000 0.00000 -
International Growth Fund
Class A CIGRX
 0.00000 0.00000 0.00000 -
Class B CIGBX
 0.00000 0.00000 0.00000 -
Class C CIGCX
 0.00000 0.00000 0.00000 -
Class I CIGIX
0.00000 0.00000 0.00000 -
Class R CIGFX
 0.00000 0.00000 0.00000 -
Global Equity Fund
Class A CAGEX
 0.00000 0.00000 0.00000 -
Class B CBGEX
 0.00000 0.00000 0.00000 -
Class C CCGEX
 0.00000 0.00000 0.00000 -
Class I CIGEX
0.00000 0.00000 0.00000 -
Class R CRGEX
 0.00000 0.00000 0.00000 -
Evolving World Growth
Class A CNWGZ
 0.00000 0.00000 0.00000 -
Class B CNWZX
 0.00000 0.00000 0.00000 -
Class C CNWDX
 0.00000 0.00000 0.00000 -
Class I CNWIX
 0.00000 0.00000 0.00000 -
Class R CNWRX
 0.00000 0.00000 0.00000 -
Convertible
Convertible Fund
Class A CCVIX
 0.00000 0.03369 0.03369 14.24
Class B CALBX
 0.00000 0.03369 0.03369 16.66
Class C CCVCX
 0.00000 0.03369 0.03369 14.21
Class I CICVX
 0.00000 0.03369 0.03369 13.44
Class R CCVRX
 0.00000 0.03369 0.03369 14.23
Alternative
Market Neutral Income Fund
Class A CVSIX
 0.00000 0.29226 0.29226 10.21
Class B CAMNX
 0.00000 0.29226 0.29226 10.72
Class C CVSCX
 0.00000 0.29226 0.29226 10.37
Class I CMNIX
0.00000 0.29226 0.29226 10.11
Class R CVSRX
 0.00000 0.29226 0.29226 10.19
Fixed Income
High Yield Fund
Class A CHYDX
 0.00000 0.00000 0.00000 -
Class B CAHBX
 0.00000 0.00000 0.00000 -
Class C CCHYX
 0.00000 0.00000 0.00000 -
Class I CIHYX
0.00000 0.00000 0.00000 -
Class R CHYRX
 0.00000 0.00000 0.00000 -
Total Return Bond Fund
Class A CTRAX
 0.00000 0.00000 0.00000 -
Class B CTXBX
 0.00000 0.00000 0.00000 -
Class C CTRCX
 0.00000 0.00000 0.00000 -
Class I CTRIX
 0.00000 0.00000 0.00000 -
Class R CTRRX
 0.00000 0.00000 0.00000 -

* For Multi-Fund Blend: The Record Date for distributions shown is December 18, 2008 with ex-dividend, pay, and reinvestment dates of December 19, 2008.

Each Fund is a series of Calamos Investment Trust. The investment adviser to the Funds is Calamos Advisors LLC. The Calamos Family of Funds offers a range of investment strategies for individual investors with diverse investment objectives and needs. For more information on the Funds, please call 800-582-6959.
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