AGC and LCM Declare Dividends

Advent/Claymore Enhanced Growth & Income Fund (NYSE: LCM), a diversified closed-end management investment company, has declared its quarterly dividend of $0.264 per share, reflecting a reduction of $0.086 per share from the Fund's most recent quarterly dividend. This represents an annualized distribution rate of 14.35% based upon the closing market price of $7.36 on November 28, 2008.

The Funds' management believes that reducing the Funds' distributions is a necessary step to enhance our ability to maintain and potentially grow the Funds' net asset values--which should benefit the Funds' shareholders over time.

The Funds' management also believes that convertible securities appear exceptionally attractive following an unprecedented dislocation in convertible and high-yield securities markets, which presented the most challenging and difficult credit conditions since the Great Depression. The Merrill Lynch All Convertibles Index (ticker VXA0) lost 22.8% over the last two months, as both equities and corporate bonds plunged. The Merrill Lynch High-Yield Master II Index lost 23.4% during the two-month period, and was yielding 21.7% at the end of November.

The Funds are being repositioned in an effort to take advantage of current opportunities in an effort to better achieve their investment objectives of providing total return through a combination of capital appreciation and current income, along with seeking to enhance the Funds' earning power over time.

For AGC, the December 2008 monthly dividend will be paid on December 31, 2008 to shareholders of record as of December 15, 2008 with an ex-dividend date of December 11, 2008. For LCM, the quarterly dividend will be paid on February 27, 2009 to shareholders of record as of February 13, 2009 with an ex-dividend date will be February 11, 2009. If it is determined that a notification is required pursuant to Section 19(a) of the Investment Company Act of 1940, as amended, such notice will be posted to the Fund's website after the close of business three business days prior to the payable date. If a distribution rate is largely comprised of sources other than income, it may not be reflective of the Fund's performance.

Advent Capital Management, LLC serves as the Investment Manager for AGC and LCM. Based in New York, New York, Advent Capital Management, LLC is a credit-oriented firm specializing in the management of convertible, high-yield and equity securities and the implementation of covered call, long-only and hedge fund strategies. In addition to the three closed-end funds, the Advent/Claymore Enhanced Growth & Income Fund (NYSE: LCM), the Advent Claymore Convertible Securities and Income Fund (NYSE: AVK | Quote | Chart | News | PowerRating) and the Advent/Claymore Global Convertible Securities & Income Fund (NYSE: AGC), the firm also manages assets for several FORTUNE 500 companies, foundations, endowments, public pension plans and insurance companies.

Claymore Advisors, LLC (an affiliate of Claymore Securities, Inc.) serves as the Investment Adviser for AGC and LCM. Based in Lisle, Illinois, Claymore Advisors, LLC, an affiliate of Claymore Securities, Inc., is a privately-held financial services company offering unique investment solutions for financial advisors and their valued clients. Claymore entities have provided supervision, management, servicing and/or distribution on approximately $13.8 billion in assets, as of September 30, 2008. Claymore currently offers closed-end funds, unit investment trusts and exchange-traded funds. Registered investment products are sold by prospectus only and investors should read the prospectus carefully before investing. Additional information on Claymore's closed-end funds is available at www.claymore.com/cef.

This information does not represent an offer to sell securities of the Funds and it is not soliciting an offer to buy securities of the Funds. There can be no assurance that the Funds will achieve their investment objectives. The net asset value of the Funds will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value. Past performance is not indicative of future performance. An investment in these Funds is subject to certain risks and other considerations, including, but are not limited to: Investment and Market Risk; Convertible and Synthetic Convertible Securities Risk; Lower Grade Securities Risk; Equity Securities Risk; Foreign Securities Risk; Interest Rate Risk; Illiquidity Risk; Derivative Risk, Management Risk; Anti-Takeover Provisions; Market Disruptions Risk and AMPS Risk (AGC only). See www.claymore.com/cef for a detailed discussion of fund-specific risks.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Fund carefully before they invest. For this and more information, please contact a securities representative or Claymore Securities, Inc., 2455 Corporate West Drive, Lisle, Illinois 60532, 800-345-7999.

Member FINRA/SIPC (12/08)

NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE

SOURCE: Claymore Securities, Inc.

Press Inquiries: Advent Capital Management, LLC Maggie Lahey 212-482-1600 mlahey@adventcap.com or Analyst Inquiries: Claymore Securities, Inc. William T. Korver 630-505-3700 wkorver@claymore.com