NAPERVILLE, Ill., June 27 /PRNewswire-FirstCall/ -- CALAMOS INVESTMENTS' fifth closed-end offering, Calamos Global Dynamic Income Fund, begins trading on the NYSE under ticker CHW. Seeking to generate a high level of current income and, secondarily, capital appreciation, the Fund has maximum flexibility to dynamically allocate among fixed-income securities, alternative investments and equities around the world. CHW raised $840 million in assets (56 million shares) at its initial public offering price of $15.00. If the underwriters exercise their over-allotment option, the Fund's total common share assets raised could reach approximately $955 million. The Fund integrates the firm's wide-ranging expertise at blending assets into one compelling portfolio designed to positively harness volatility and capture income in excess of traditional fixed-income vehicles. It plans to pay its first monthly distribution 60-90 days after its IPO date and will seek to institute a level-rate distribution policy* designed to provide stable, monthly distributions. "We believe CHW offers investors a truly innovative means to enhance income and provide a monthly distribution," says John P. Calamos, Sr., Chairman, CEO and Co-CIO. "The Fund's unique utilization of alternative strategies provides investors access to a complement of tools normally reserved for institutional investors, and its ability to flexibly and dynamically pursue opportunities anywhere in the world increases investors' chances of gaining exposure to the best investment opportunities." Wachovia Capital Markets, LLC and Citigroup Global Markets Inc. served as co-lead underwriters in connection with the Fund's offering. Calamos Investments also manages four other closed-end funds: Calamos Convertible Opportunities and Income Fund (CHI), Calamos Convertible and High Income Fund (CHY), Calamos Strategic Total Return Fund (CSQ) and Calamos Global Total Return Fund (CGO). To learn more about Calamos Global Dynamic Income Fund (CHW), visit us on the web at http://www.calamos.com/closedendfunds/CHW.aspx . About CALAMOS CALAMOS INVESTMENTS is a diversified investment firm offering equity, high yield, convertible and alternative investment strategies through its subsidiaries. The firm serves institutions and individuals via separately managed accounts, mutual funds and closed-end funds, offering a risk-managed approach to capital appreciation and income-producing strategies. For more information, visit http://www.calamos.com/. Important Information About Risk The Fund is a newly organized, diversified, closed-end management investment company designed primarily as a long-term investment and not as a trading tool. The Fund invests in a globally diversified portfolio of common and preferred stocks and income-producing securities such as investment grade and below investment grade debt securities. An investment in the Fund's common shares may be speculative and it involves a high degree of risk. The Fund should not constitute a complete investment program. Due to the uncertainty in all investments, there can be no assurance that the Fund will achieve its investment objective. *The goal of the level-rate distribution policy is to provide investors a predictable, though not assured, level of cash flow. Monthly distributions paid may include net investment income, net realized short-term capital gains and, if necessary, return of capital. Maintenance of this policy may increase transaction and tax costs associated with the Fund. Before investing, carefully consider the Fund's investment objectives, risks, charges and expenses. Contact 800.582.6959 for a prospectus containing this and other information. Read it carefully. Calamos Financial Services LLC. DATASOURCE: CALAMOS INVESTMENTS CONTACT: Ken Fincher, Vice President of CALAMOS INVESTMENTS, +1-630-245-1076, Web site: http://www.calamos.com/

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