Boulder Growth & Income Fund, Inc. Increases Monthly Distributions.

BOULDER, Colo. -- The Boulder Growth & Income Fund, Inc. (NYSE: BIF) (the "Fund") announced today that its Board of Directors has declared monthly common stock distributions of $0.115 per share for the months of February, March and April, 2007. This is a 15% increase in the dividend over the prior distribution rate of $0.10 per month. The managed distribution policy was approved by stockholders in May 2006.

The $0.115 monthly dividend (or $1.38 per year) is 13.3% of the Fund's current market price and 14.6% of the Fund's most recent net asset value (NAV), both on an annualized basis. Management expects that the dividends paid for February, March and April, will consist entirely of a return of capital to stockholders. However, this could change at any time. A "return of capital" represents a return of a stockholder's original investment in the Fund's shares and it is not taxable. It should not be confused with a dividend yield. An IRS Form 1099-DIV will be sent to stockholders after the year-end indicating the tax characteristic of the distributions they received and exactly how much is net investment income, ordinary income, capital gains, if any, and return of capital, if any. The Fund does not expect that distributions will include any capital gain component. However, it is possible that a portion of the distributions will represent capital gains earned by the Fund but offset by capital loss carry-forwards, which will be taxable at ordinary income tax rates. To the extent stockholders receive a return of capital, they will be required to adjust their cost basis by the same amount upon the sale of their Fund shares. Stockholders should seek their own tax advice regarding the reporting of income and the gain or loss on the sale of the Fund's shares.

The February distribution will be payable February 28, 2007, to holders of record on February 21, 2007; the March distribution will be payable March 30, 2007, to holders of record as of March 23, 2007; and, the April distribution will be payable April 30, 2007, to holders of record as of April 23, 2007.

Boulder Growth & Income Fund, Inc. is a closed-end, non-diversified management investment company traded on the New York Stock Exchange under the trading symbol "BIF". As of Friday, February 2, 2007, the Fund's net asset value was $9.45 per share and the closing market price was $10.30, which was a 9.0% premium to its net asset value. The Fund's website is www.boulderfunds.net.