LCM Declares Quarterly Dividend.

LISLE, Ill. -- The Advent/Claymore Enhanced Growth & Income Fund (NYSE: LCM) today declared its quarterly dividend of $0.40 per share. This represents an annualized distribution rate of 8.07% based upon the closing market price of $19.82 on January 31, 2007.

Since the Fund's inception on January 31, 2005 through January 31, 2007 the Fund generated an average annual total return, including reinvestment of dividends, of 10.21% based on Net Asset Value (NAV) and 7.48% based on market price. The Fund's one year total return, as of January 31, 2007 was 9.51% based on NAV and 23.24% based on market price.

The Fund's investment objective is to seek current income and current gains from trading securities, with a secondary objective of long-term capital appreciation. The Fund will vary the balance between convertible, equity and high-yield securities and the degree to which the Fund engages in a covered call strategy from time to time based on security valuations, interest rates and other economic market and market factors.

Dividends will be paid on February 28, 2007 to shareholders of record as of February 15, 2007. The ex-dividend date will be February 13, 2007. If it is determined that a notification is required pursuant to Section 19a-1 of the Investment Company Act of 1940, such notice will be posted to the Fund's website after the close of business three business days prior to the payable date.

Claymore Advisors, LLC, an affiliate of Claymore Securities, Inc., serves as the Fund's Investment Adviser. Based in Lisle, Illinois, 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 $16 billion in assets through closed-end funds, unit investment trusts, separately managed accounts, exchange-traded funds and Claymore MACROshares. 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.

Advent Capital Management, LLC serves as the Fund's Investment Manager. Based in New York, New York, Advent is a credit-oriented firm specializing in the management of convertible, high-yield and equity securities and the implementation of covered call and hedge fund strategies. The firm manages assets for several FORTUNE 500 companies, foundations, endowments, public pension plans, insurance companies and another closed-end fund, the Advent Claymore Convertible Securities and Income Fund (NYSE: AVK).

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: Options Risk, Equity Risk, Convertible Securities Risk, Lower-Grade Securities Risk, Foreign Securities Risk, Synthetic Convertible Securities Risk, Call Risk, Illiquid Investments, Emerging Markets Risk, Currency Risks, Strategic Transactions, Inflation Risk and Market Disruption Risk.

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.