Castle Convertible Fund, Inc. Declares Distribution of $0.17 Per Share

NEW YORK, March 21  /PRNewswire/ -- The Board of Directors of Castle Convertible Fund, Inc., a closed-end investment company managed by Fred Alger Management, Inc., declared a distribution of $0.17 per share to shareholders of record on March 30, 2007, payable April 16, 2007.

About Fred Alger Management

Founded in 1964, Fred Alger Management, Inc. is a leading asset management firm employing a bottom-up approach in its attempt to identify the fastest growing companies in their respective sectors. For more than 40 years, Alger has followed a rigorous process, a consistent approach, and a core philosophy: find dynamic, innovative companies creating change and invest in them. Fred Alger Management offers investment advisory services to separately managed, sub-advised and wrap accounts. Fred Alger & Company, Incorporated offers mutual funds as well as institutional funds for defined benefit and defined contribution plans. For more information, please visit http://www.alger.com/.

  Contact:  Fredrick A. Blum
            Executive Vice President
            Fred Alger Management, Inc.
            Tel: [phone]


DATASOURCE: Fred Alger Management, Inc.



CONTACT:  Fredrick A. Blum, Executive Vice President of Fred Alger

Management, Inc., [phone]



Web site:  http://www.alger.com/ 

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