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Boulder Growth & Income Fund Announces Withdrawal of Shareholder Proposal

^{Published on 2008-11-26 12:30:43 - Market Wire}
 

BOULDER, Colo.--([ BUSINESS WIRE ])--The Boulder Growth & Income Fund, Inc. (NYSE: BIF) announced today that a shareholder proposal to terminate the investment co-advisory agreement between the Fund and its co-advisers, Boulder Investment Advisers, L.L.C. and Stewart Investment Advisers (the "Boulder Advisers"), has been withdrawn.

This proposal was originally submitted by a shareholder, Ronald G. Olin, on October 27, 2008; it was formally withdrawn by Mr. Olin shortly thereafter.

Steve Miller, the Fund's president, said that, "Because of Mr. Olin's ongoing association with Doliver Capital Advisers, L.P. and Ralph Bradshaw, notwithstanding the withdrawal of Mr. Olin's proposal, we continue to believe that Doliver and Messrs. Olin and Bradshaw are acting as a group under federal securities laws and will continue to explore our options given their past tactics with other closed-end funds."

The Fund is a closed-end management investment company co-managed by Stewart Investment Advisers and Boulder Investment Advisers, L.L.C. For more information on the Fund, please visit [ www.boulderfunds.net ]. Information contained in this press release was obtained from reputable third-party sources and is believed to be current and reliable. The Fund is not responsible for the accuracy or reliability of such third-party information. Past performance is no indicator or guarantee of future results.