Calamos(a) Asset Management, Inc. Enjoys Record Year


NAPERVILLE, Ill., March 2000 (PRIMEZONE) -- Year-end results confirm that 1999 was an especially successful year for Calamos Asset Management, Inc. The company enjoyed a 40% growth in assets under management during the year, bringing its total to approximately $4.9 billion and making Calamos a leading money management firm focusing on convertible bonds. Annual performance, as measured by the Calamos Convertible Composite*, was the best in the company's 22-year history at 36.77% after fees. During the year we entered into several new strategic partnerships and welcomed major investment accounts.

The company's disciplined investment approach and focused strategies are supported by a myriad of proprietary research and evaluation models that enable portfolio managers to monitor over 500 companies and 1,600 convertible issues on a daily basis. To accommodate the unique needs of each investor, the company has systems in place that track adherence to the specific guidelines of each account to maximize the tradeoff of risk and return.

Fueled by performance -- and $40 billion in new issues last year -- convertible bond strategies have been getting increased attention. However, John P. Calamos, President and Chief Investment Officer, noted that, "Regardless of the market cycle, as risk managers we focus on evaluating upside potential versus downside risk. We strive to provide superior long-term investment performance while guarding against unforeseen events. And because convertible bonds share characteristics of both stocks and bonds, investors can participate in the upside potential of stock performance but with potential downside cushioning."

Headquartered in Naperville, Illinois, Calamos Asset Management, Inc. is an independent asset management firm providing professional money management services to clients that include major corporations, public and private institutions, pension funds, endowments and foundations, insurance companies and individuals.

Past performance is no guarantee of future results.


 (a) The CALAMOS Convertible Composite consists of accounts of 
     tax-exempt investors totaling more than $250,000 that are
     managed on a fully discretionary basis by CALAMOS(R) ASSET
     MANAGEMENT, INC. Returns presented after deducting management
     fees reflect the actual fees charged each account comprising
     the Composite. Management fees are further described in Part
     II of the advisor's Form ADV, which is available upon 
     request.

All returns cited are net of commission and other similar fees charged on securities transactions and include reinvestment of dividends and earnings.



            

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