Boulder Growth & Income Fund, Inc. Rights Offering Declared Effective

2008-05-14 23:45:57 -

- The Boulder Growth & Income Fund, Inc. (NYSE: BIF) announced today that its N-2 registration statement has been declared effective by the Securities and Exchange Commission. The non-transferable rights offering will permit record date holders of common stock to purchase one new share of the Fund for every three rights held at a subscription price equal to the net

asset value ("NAV") per share of common stock at the close of trading on the expiration date of the offering. In addition to the shares offered in the primary subscription, the Fund will offer a 100% over-allotment to oversubscribing stockholders. Stockholders who fully subscribe in the primary offering will have the option to oversubscribe for additional shares which may be available. The Fund will proportionally allocate shares to oversubscribing stockholders based on the number of rights originally issued to them.

As previously announced, the record date for the rights offering is May 15, 2008; the Fund traded ex-rights on May 13, 2008. Only record date stockholders may participate in the rights offering.

The rights are expected to be distributed the week of May 19, 2008. The expiration date and pricing date of the offering is expected to be Friday, June 20, 2008, at 5:00 pm New York time, unless the Fund determines to extend the subscription period beyond this date. The prospectus for the rights offering is expected to be mailed to record date holders on or about May 23, 2008. If you have questions about how to exercise your rights, contact your broker. Additional stockholder inquiries should be directed to the Fund's information agent, Morrow & Co., Inc., at (800) 607-0088.

A copy of the Fund's prospectus will be available on the Fund's website at www.boulderfunds.net. Stockholders are encouraged to contact their broker regarding decisions to participate in the offering.

Boulder Investment Advisers, LLC
Nicole Murphey, 303-449-0426