Calamos Convertible Opportunities Income Fund (CHI)

BUSINESS SUMMARY
Calamos Convertible Opportunities:Income Fund is a closed-ended fund managed by Calamos Advisors LLC. It seeks to make its investments in the consumer discretionary, financial, energy, consumer staples, information technology, industrials, materials, healthcare, utilities, and telecommunication services industries. The fund invests in the public fixed income markets of the United States. It primarily invests in high yield fixed income securities and convertible securities that are either investment grade, BB rated, rated B and below, or unrated. The fund employs a fundamental analysis to invest in value securities. It seeks total return through a combination of capital appreciation and current income.

With a time-tested track record of high current income and total return—with reduced volatility compared to the stock market1—Calamos Market Neutral Income Fund may be a compelling choice for a wide range of asset allocation needs.

In particular, the fund may be a valuable addition for investors seeking:

* High current income. The investment management team uses complementary strategies to generate income from multiple sources. Accordingly, the fund may be a compelling alternative—or complement—to traditional fixed-income investments.
* A conservative total return strategy. Since its inception, the fund has delivered returns comparable to the stock market, but with reduced volatility.
* Enhanced diversification. With historically low correlation relative to other asset classes, the fund may help mitigate the overall volatility of an investment portfolio.
* Access to investment strategies not widely available to individual investors. The fund provides a blend of strategies not broadly available to individual investors.

American Capital Strategies, Ltd. (ACAS)

BUSINESS SUMMMARY
American Capital is the second largest U.S. publicly traded alternative asset manager with approximately $11 billion in assets under management (second to Fortress (NYSE: FIG)). American Capital, both directly and through its global asset management business, is an investor in management and employee buyouts, private equity buyouts, and early stage and mature private and public companies. American Capital provides senior debt, mezzanine debt and equity to fund growth, acquisitions, recapitalizations and securitizations. American Capital and its affiliates invest from $5 million to $800 million per company in North America and €5 million to €400 million per company in Europe.

Since its August 1997 IPO, American Capital and the funds it manages have invested approximately $13 billion in over 250 portfolio companies. The portfolio includes services, transportation, construction, wholesale, retail, health care and industrial, consumer, chemical and food products. It have 200 investment professionals in ten offices in the United States and Europe.

Investment Value -Offer shareholders an opportunity to invest in privately held middle market companies through ownership of our stock. American Capital has paid or declared $23.33 per share in dividends since going public in 1997, and has provided a 22.3% annualized return and a 591.6% total return over that time, assuming dividends are reinvested.