Calamos Announces Redemption Dates of Auction Rate Preferred Securities for Calamos Convertible Opportunities and Income Fund (C

- Calamos Convertible Opportunities and Income Fund to redeem all $104 Million of its outstanding Auction Rate Preferred Securities (ARPS). - After this step, ARPS redemptions for four of Calamos' five closed-end funds (CHI, CHY, CSQ and CGO) will be complete. - Redemption dates for the last fund, Calamos Global Dynamic Income Fund (CHW), are expected to be announced in the coming months.


NAPERVILLE, Ill., July 29  /PRNewswire-FirstCall/ -- Calamos Investments announced today redemption dates for all outstanding Auction Rate Preferred Securities (ARPS) for the Calamos Convertible Opportunities and Income Fund (NYSE:CHI). Series, CUSIP and redemption date specifics are shown in the table below:

                   Series        CUSIP          Redemption Date
                   ------        -----          ---------------
                   W28           128117603      August 13, 2009
                   ---           ---------      ---------------
                   M             128117207      August 18, 2009
                   -             ---------      ---------------
                   TU            128117306      August 19, 2009
                   --            ---------      ---------------
                   W             128117405      August 20, 2009
                   -             ---------      ---------------
                   TH7           128117702      August 21, 2009
                   ---           ---------      ---------------
                   TH            128117504      August 21, 2009
                   --            ---------      ---------------
                   F7            128117801      August 24, 2009
                   --            ---------      ---------------



Calamos filed a Rule 23c-2 notice on July 29, 2009 which details the redemption dates for the CHI ARPS. The filing can be found on the SEC website at: http://www.sec.gov/Archives/edgar/data/1171471/000095012309026730/c52643nv23cv 2.htm

On May 19, 2009, Calamos announced that it had received Board approval and intends to complete refinancing of all outstanding auction rate preferred securities for the Calamos Closed End Funds. Calamos will release details surrounding the timing of the refinancing of the last fund, CHW, and its respective series shortly. Currently, the company anticipates that redemptions will occur over the course of the next several weeks.

About Calamos Asset Management, Inc.

Calamos Asset Management, Inc. is a globally diversified investment firm offering equity, fixed-income, convertible and alternative investment strategies, among others. The firm serves institutions and individuals around the world via separately managed accounts and a family of open-end and closed-end funds, providing a risk-managed approach to capital appreciation and income-producing strategies. For more information, visit http://www.calamos.com/

From time to time, information or statements provided by us, including those within this news release, may contain certain forward-looking statements relating to future events, future transactions, future financial performance, future potential costs, expectations, the competitive and regulatory environment and future market conditions. Forward-looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Such risks and uncertainties include, but are not limited to: catastrophic or unpredictable events, changing costs of leverage, strategy implementation obstacles, fluctuations in the financial markets and the competitive conditions in the fund, asset management and broader financial services sectors and other risks inherent in the financial and trading markets, including liquidity issues. 

DATASOURCE: Calamos Asset Management, Inc.



CONTACT:  Scott Henderson, Associate Vice President of Calamos

Investments, [phone], 



Web Site:  http://www.calamos.com/ 

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