DCS Claymore Dividend & Income Fund

Claymore Securities, Inc. and its affiliate Claymore Advisors, LLC (“Claymore”) are announcing that certain closed-end funds have declared their monthly or quarterly distributions. The table below summarizes the distribution schedule for each closed-end fund.

 

The following dates apply to these distributions:

   

Record Date

 

-

  August 13, 2010

Ex-Dividend Date

-

August 11, 2010

Payable Date

-

August 31, 2010        

Distribution

Change

NYSE

Fund Name

Amount Per

From

Frequency

Ticker

Share

Previous

           

Distribution

   

AGC

 

Advent/Claymore Global ConvertibleSecurities & Income Fund

  $0.0664   -   Monthly

AVK

 

Advent Claymore Convertible Securitiesand Income Fund

  $0.0939   -   Monthly

DCS

 

Claymore Dividend & Income Fund

  $0.10   -   Quarterly

GOF

 

Claymore/Guggenheim StrategicOpportunities Fund

  $0.154   -   Monthly

LCM

 

Advent/Claymore Enhanced Growth &Income Fund

  $0.264   -   Quarterly

MCN

 

Madison/Claymore Covered Call & EquityStrategy Fund

  $0.18   -   Quarterly

MZF

 

Managed Duration Investment GradeMunicipal Fund

  $0.0825*   -   Monthly

WIA

 

Western Asset/Claymore Inflation-LinkedSecurities & Income Fund

  $0.038   -   Monthly

WIW

 

Western Asset/Claymore Inflation-LinkedOpportunities & Income Fund

  $0.04   -   Monthly  

*MZF is declaring its August, September and October 2010 distributions of $0.0825 per share. Please see www.claymore.com/MZF for further information.

Past performance is not indicative of future performance. If it is determined that a notification is required, pursuant to Section 19(a) of the Investment Company Act of 1940, as amended, such notice will be posted to such Fund’s website after the close of business three business days prior to the payable date. If a distribution rate is largely comprised of sources other than income, it may not be reflective of that Fund’s performance.

For further information regarding changes to previous distributions, if any, please refer to the “Frequently Asked Questions” section of the Fund’s dedicated website, accessible via www.claymore.com/CEF.

Claymore Advisors, LLC serves as Investment Adviser for AGC, DCS, GOF, LCM, MCN and WIW. Claymore Securities, Inc. serves as Servicing Agent for AVK, MZF and WIA. Claymore Securities, Inc. offers strategic investment solutions for financial advisors and their valued clients. As an innovator in exchange-traded funds (ETFs), unit investment trusts (UITs) and closed-end funds (CEFs), Claymore often leads its peers with creative investment strategy solutions. In total, Claymore entities provide supervision, management, or servicing on approximately $15.3 billion in assets as of June 30, 2010. Claymore Securities, Inc. is a wholly-owned subsidiary of Guggenheim Partners, LLC, a global, diversified financial services firm with more than $100 billion in assets under supervision. Guggenheim, through its affiliates, provides investment management, investment advisory, insurance, investment banking, and capital markets services. The firm is headquartered in Chicago and New York with a global network of offices throughout the United States, Europe, and Asia.

The Investment Advisers for AVK, MZF and WIA are Advent Capital Management, LLC, Cutwater Asset Management Corp. and Western Asset Management Company, respectively.

This information does not represent an offer to sell securities of the Funds and it is not soliciting an offer to buy securities of the Funds. There can be no assurance that the Funds will achieve their investment objectives. The net asset value of the Funds 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 closed-end funds is subject to investment risk, including the possible loss of the entire amount that you invest. Some general risks and considerations associated with investing in a closed-end fund include: Investment and Market Risk; Lower Grade Securities Risk; Equity Securities Risk; Foreign Securities Risk; Interest Rate Risk; Illiquidity Risk; Derivative Risk; Management Risk; Anti-Takeover Provisions; Market Disruption Risk and Leverage Risk. In addition, AGC, AVK and MZF are subject to AMPS Risk. See www.claymore.com/CEF for a detailed discussion of fund-specific risks.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of any investment 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.

Member FINRA/SIPC (8/10)

NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE