DCS Announces Change to Non-Fundamental Investment Parameter.

LISLE, Ill. -- The Dreman/Claymore Dividend & Income Fund (NYSE:DCS) today announced that its Board of Trustees approved a change to one of its non-fundamental investment parameters. Specifically, the change allows for an allocation of up to 20% of its total assets in U.S. dollar denominated securities of foreign issuers, a change from the previous limit allowing an allocation of up to 15% of the Fund's total assets in such securities.

Claymore Advisors, LLC, an affiliate of Claymore Securities, Inc., serves as the Fund's Investment Adviser. 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 or distribution on over $14 billion in assets through closed-end funds, unit investment trusts, mutual funds, separately managed accounts and exchange-traded funds. Additional information on Claymore's closed-end funds is available at www.claymore.com/CEFs. Registered investment products are sold by prospectus only and investors should read the prospectus carefully before investing.

Dreman Value Management, LLC, the Fund's Investment Manager, was founded by David N. Dreman in 1997, and its predecessor firms date back to 1977. The firm has over $18 billion in assets under management, primarily across institutional accounts, separate account wrap-fee programs, high-net-worth individuals, various investment companies and alternative investment products. Independently owned, the firm is a value-oriented contrarian equity manager and places its primary emphasis on common stocks with growing dividends. David Dreman is widely known for his association with Forbes where he has penned a column entitled "The Contrarian" since 1980 and for publishing four books on low P/E contrarian value investing and behavioral finance.

This information does not represent an offer to sell securities of the Fund and it is not soliciting an offer to buy securities of the Fund. There can be no assurance that the Fund will achieve its investment objectives. The net asset value of the Fund 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 the Fund is subject to certain risks and other considerations. Such risks and considerations include, but are not limited to: Hedging Risk; Not a Complete Investment Program; Market Discount Risk; Equity Risk; Special Risks Related to Preferred Securities; Income Risk; Value Investing Risk; Fund Distribution Risk; Interest Rate Risk; Inflation Risk; Foreign Securities; Non-diversified Status; Industry Concentration Risk; Lower-Rated Securities; Financial Leverage; Management Risk; Dependence on Key Personnel; Anti-Takeover Provisions; Illiquid Securities; Common Stock Risk; Special Risks of Derivative Transactions and Geopolitical 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.

The Fund's common shares do not represent a deposit or obligation of, and are not guaranteed or endorsed by, any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.