Boulder Growth & Income Fund Announces Completion of Rights Offering.

BOULDER, Colo. -- The Boulder Growth & Income Fund, Inc. (NYSE: BIF) is pleased to announce the completion and full subscription of its one-for-three rights offering. Under the terms of the rights offering, stockholders were entitled to purchase one newly issued share of common stock of the Fund for every three rights held. The subscription price for each newly issued share was determined to be $8.67 which, under the terms of the prospectus, was the Fund's net asset value per share at the close of trading on Friday, September 14, 2007.

Based on preliminary results provided by the Fund's subscription agent, the Fund received subscriptions for approximately 5.7 million of the 3.8 million shares to be issued. Exact details regarding the shares available for the over-subscription privilege are not yet available. Due to the number of over-subscriptions the Fund received, the shares available to over-subscribing stockholders will be allocated on a pro rata basis among those who over-subscribed based on the shares requested and the number of rights originally issued to them by the Fund. Additional information regarding allocation of shares under the over-subscription privilege may be found in the prospectus.

Because the subscription price of $8.67 is higher than the estimated subscription price of $8.43, participants will be assessed the difference between the estimated and actual subscription price when confirmations are sent to participants.

The Boulder Growth & Income Fund, Inc. is a closed-end, non-diversified management investment company. As of Friday, September 14, 2007, the Fund's NAV was $8.67 and the closing market price was $9.75, a premium of 12.5%.