ACV Virtus Diversified Income and Convertible Fund

Alberto-Culver Announces Change in November Dividend Record Date MELROSE PARK, Ill., Oct. 27 /PRNewswire-FirstCall/ -- The Alberto-Culver Company announced today that due to the pending conversion of its Class A and Class B shares into a single class of common stock, effective after the close of business on November 5, 2003 (as announced on October 22, 2003), that it has been advised by the New York Stock Exchange (NYSE) that the Company must change the record date for its next quarterly dividend from November 6, 2003 to November 12, 2003. The payment date will remain the same, November 20, 2003. This press release contains forward-looking statements. These statements are based on Alberto-Culver management's current assessment of its markets and businesses. There are risks and uncertainties that could have an impact on these statements in the future. Some of the factors that could cause actual results to differ from these current projections include: the pattern of brand sales, competitive activity in each of the Company's markets, loss of distribution rights, risks inherent in acquisitions and strategic alliances, loss of one or more key employees, sales by unauthorized distributors in the Company's exclusive markets, the effects of a prolonged United States or global economic downturn or recession, changes in costs, unanticipated legal proceedings, unanticipated effects of the conversion, health epidemics and variations in currency exchange rates, and changes in political, economic or other external factors over which the company has no control. The company is not obligated to update any forward-looking statement in this release. DATASOURCE: Alberto-Culver Company CONTACT: Wesley Davidson, +1-708-450-3145, or Craig Bernick, +1-708-450-3020, both of Alberto-Culver Company

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