Calamos Diversifies Lending Group for Closed-end Funds

            Calamos Diversifies Lending Group for Closed-end Funds

Multiple lenders to increase investment flexibility and potentially reduce
costs

PR Newswire

NAPERVILLE, Ill., Jan. 28, 2013

NAPERVILLE, Ill., Jan. 28, 2013 /PRNewswire/ -- Calamos Investments^®*
announces enhancements to its five closed-end funds with an additional lending
provider, effective as of the close of business on January 22, 2013. The
enhancement affects the Calamos Convertible Opportunities and Income Fund
(NASDAQ: CHI), Calamos Convertible and High Income Fund (NASDAQ: CHY), Calamos
Strategic Total Return Fund (NASDAQ: CSQ), Calamos Global Total Return Fund
(NASDAQ: CGO) and Calamos Global Dynamic Income Fund (NASDAQ: CHW).

After a rigorous search process, the board of trustees for the funds approved
State Street Bank and Trust Company to act as an additional lender and source
of leverage financing, in addition to BNP Paribas Prime Brokerage
International, the funds' existing lender.

"After careful consideration, we believe entering into an additional lending
arrangement with State Street will diversify the funds' access to capital,
which we believe is prudent and in the shareholders' best interest. The
financing arrangements will also slightly increase the funds' borrowing
capacity, which expands the Calamos Investment Team's flexibility in its
ongoing management of the closed-end funds. Finally, we believe the new
financing structure provides the potential to reduce interest-related expenses
for the funds, which will also benefit our shareholders," said John P.
Calamos, Sr., Chief Executive Officer and Global Co-Chief Investment Officer
of Calamos Investments.

Each of the closed-end funds has entered into a credit agreement and can
borrow up to the following maximum amounts:

Closed-End Fund      State Street         BNP Borrowing      Total
                     Borrowing Limit      Limit              Availability
Calamos Convertible
and                  $200,000,000         $200,000,000       $400,000,000
High Income Fund
Calamos Convertible
Opportunities and    $200,000,000         $200,000,000       $400,000,000
Income
Fund
Calamos Global
Dynamic              $127,500,000         $127,500,000       $255,000,000
Income Fund
Calamos Global Total $30,000,000          $30,000,000        $60,000,000
Return Fund
Calamos Strategic
Total                $367,500,000         $367,500,000       $735,000,000
Return Fund

For more information about the Calamos closed-end funds, visit
http://www.calamos.com/FundInvestor/closedendfunds.

About Calamos

Calamos Investments LLC is a diversified global investment firm offering
innovative investment strategies including equity, fixed income, convertible
and alternative investments, among others. The firm offers strategies through
separately managed portfolios, mutual funds, closed-end funds, private funds
and UCITS funds. Clients include major corporations, pension funds,
endowments, foundations and individuals. Headquartered in the Chicago
metropolitan area, the firm also has offices in London and New York. For more
information visit calamos.com.

*Calamos Investments LLC, referred to herein as Calamos Investments^®, is a
financial services company offering such services through its subsidiaries:
Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Investments LLP
and Calamos Financial Services LLC.

SOURCE Calamos Investments

Website: http://www.calamos.com
Contact: Jennifer McGuffin, Director of Corporate Communications,
+1-630-245-1780, media@calamos.com
 
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