Calamos Releases Quarterly Economic Review and Outlook - Q3, 2011

NAPERVILLE, Illinois and LONDON, October 12, 2011 -

Global Economic Healing Highlights Global Growth Opportunities

Calamos Investments, a global investment management firm, released its Economic Review and Outlook. Calamos’ Co-Chief Investment Officers, John P. Calamos, Sr. and Nick P. Calamos provide their views on the current economic environment and discuss factors which may affect the global markets and investing opportunities and risks. Calamos invites you to read the entire Economic Review and Outlook at Calamos.com/Outlook. Select topics include the following:

• The Global Economy Continues to Heal

The pace of growth remains uncertain, but we have seen improvements in many areas, including consumer deleveraging and recapitalization of U.S. banks. Despite the banking and debt crises in many economies, global economic data indicates that we are not facing a Depression-type scenario. Growth in emerging markets has provided a buffer and even an engine for growth in many industries.

• Debt Deleveraging Has Potential to Lift Equity Markets

Although emerging markets can come to the rescue for a few more years, the health of the global recovery depends on debt deleveraging in developed markets. Historically, deleveraging has been conducive to equity market performance. We believe that it is essential that governments reduce debts and that markets be allowed to clear normally, without intervention.

• Global Growth Equities May Offer the Most Attractive Risk/Reward Opportunity

We believe growth companies with diversified revenues and without country bias offer the best risk and return prospects, overall. Valuations remain particularly compelling for many global growth equities according to a number of our measures, such as price-to-earnings ratios relative to value stocks and projected free cash flows. We favor companies positioned to potentially benefit from U.S. manufacturing growth, capital spending in information technology, global infrastructure build out and the rise of emerging market consumers.

About Calamos

Calamos Investments is a globally diversified investment firm serving the needs of institutional and individual investors for over 30 years. The company’s clients include public and private pensions, foundations, endowments, corporations, financial advisors, families and individuals from around the world who have entrusted the firm with nearly $32 billion in assets under management as of 9/30/2011.

Calamos offers a range of global investment solutions - equity, fixed-income, convertible and alternatives - to work with clients’ multi-asset allocation frameworks and achieve the goals of their investment programs.

Calamos serves professional/sophisticated investors around the world through Calamos Global Funds PLC (UCITS), distributed by Calamos International LLP, London, United Kingdom.

For more information, please visit www.calamos.com.

Calamos Advisors LLC

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Media Relations, Jennifer McGuffin of Calamos Advisors LLC, +1-630-245-1780, media at calamos.com