Boulder Growth & Income Fund, Inc. Announces Record Date for Rights Offering.

BOULDER, Colo. -- Boulder Growth & Income Fund, Inc. (NYSE: BIF) announced today that it has fixed the close of business on May 15, 2008 as the record date for determination of stockholders entitled to participate in the Fund's 1-for-3 rights offering. Each common stockholder will receive one non-transferable right for each share held as of the record date. For every three rights a common stockholder receives, they will be entitled (but not required) to purchase one new share of the Fund 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. Fractional shares will not be issued. 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.

The offering is subject to the filing of an amended registration statement covering the rights and shares to be issued and to other customary regulatory filings and approvals. Any rights offering conducted by the Fund will be made only by means of a prospectus.

Boulder Growth & Income Fund, Inc. is a non-diversified, closed-end management company organized as a Maryland corporation and is registered with the SEC under the Investment Company Act of 1940, as amended. For more information about the Fund, please visit the following website: www.boulderfunds.net.

FORWARD-LOOKING STATEMENTS

This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements made in this release that look forward in time involve risks and uncertainties and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in the Fund's performance, a general downturn in the economy, competition from other companies, changes in government policy or regulation, inability of the Fund to attract or retain key employees, inability of the Fund to implement its operating strategy and acquisition strategy, inability of the Fund to manage rapid expansion and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.