Calamos Announces Redemption Dates of Auction Rate Preferred Securities for Calamos...

Calamos Announces Redemption Dates of Auction Rate Preferred Securities for
Calamos Convertible and High Income Fund (CHY)
- Calamos Convertible and High Income Fund to redeem all $80 Million of its
outstanding Auction Rate Preferred Securities (ARPS).

NAPERVILLE, Ill., July 6 /PRNewswire-FirstCall/ -- Calamos Investments
announced today redemption dates for all outstanding Auction Rate Preferred
Securities (ARPS) for the Calamos Convertible and High Income Fund (NYSE:
CHY). Series, CUSIP and redemption date specifics are shown in the table
below:

Series CUSIP Redemption Date
M 12811P207 July 21, 2009
TU 12811P306 July 22, 2009
W 12811P405 July 23, 2009
TH 12811P504 July 24, 2009
F 12811P603 July 27, 2009
A 12811P702 July 23, 2009

Calamos filed a Rule 23c-2 notice on July 6, 2009 which details the redemption
dates for the CHY ARPS. The filing can be found on the SEC website at:
http://www.sec.gov/Archives/edgar/data/1222719/000095012309020196/c52202nv23cv2.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 two funds and their
respective series shortly. Currently, the company anticipates that redemptions
will occur over the course of the next few months.

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 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.

SOURCE Calamos Asset Management, Inc.

Scott Henderson, Associate Vice President of Calamos Investments,
+1-630-245-7223, shenderson@calamos.com