Boulder Growth & Income Fund, Inc. Announces Change in Distribution Frequency and Declares Initial 2019 Quarterly Distribution

DENVER–(BUSINESS WIRE)–Boulder Growth & Income Fund, Inc. (NYSE:BIF) (the “Fund”) announced
today that its Board of Directors (“Board”) has approved adjusting the
frequency of distributions made under the Fund’s managed distribution
program from monthly to quarterly, while maintaining the Fund’s current
annualized distribution rate of approximately $0.408 per share.
Accordingly, the Fund also announced the declaration of the Fund’s
initial quarterly distribution for the 2019 fiscal year of $0.102 per
share to occur in January 2019 under the revised managed distribution
program, as discussed further below.

Beginning in November 2015, the Board instituted a managed distribution
program in accordance with its Section 19(b) exemptive order, seeking to
provide shareholders with a regular distribution not dependent on the
amount of income earned or capital gains realized by the Fund. As part
of the Board’s efforts to reduce stockholder expenses, after careful
review of the operations and efficiency of the Fund’s managed
distribution program, the Board determined that moving the frequency of
the distributions from monthly to quarterly might allow the Fund to
realize significant cost savings from the reduction in printing, mailing
and administrative expenses related to each distribution, while
continuing to provide stockholders with the benefits of the Fund’s
consistent, regular distributions at the same annualized rate.

The January 2019 quarterly distribution will be payable in cash to
stockholders of record per the following critical dates:

Pay Date			Record Date			Ex-Dividend Date			Amount Per Share
January 31, 2019			January 24, 2019			January 23, 2019			$0.102

Due to the current discount of the Fund’s market price to its per share
net asset value (“NAV”), and the fact that distributions are made in
cash (i.e., at NAV), if Fund shares continue to trade at a discount at
the time of this distribution, then it will be accretive to BIF’s
market-price-based return. As of market close on November 8, 2018, the
distribution amounts to approximately 3.05% of market price and 3.69% of
NAV on an annualized basis.

Investors should not make any conclusions about the Fund’s investment
performance from the amount of the Fund’s distributions or the Fund’s
distribution policy. With each distribution that does not consist solely
of net investment income, the Fund will issue a notice to shareholders
and an accompanying press release that will provide detailed information
regarding the amount and composition of the distribution and other
related information. The amounts and sources of distributions reported
in the notice to shareholders are only estimates and are not being
provided for tax reporting purposes. The actual amounts and sources of
the amounts for tax reporting purposes will depend upon the Fund’s
investment experience during its full fiscal year and may be subject to
changes based on tax regulations. The Fund will send shareholders a Form
1099-DIV for the calendar year that will tell them how to report these
distributions for federal income tax purposes.

The Fund

Boulder Growth & Income Fund, Inc. is a non-diversified closed-end
investment company traded on the New York Stock Exchange under the
trading symbol “BIF”. As of November 8, 2018, the Fund’s NAV was $13.37
per share and the closing market price was $11.07 (a 17.20% discount to
NAV). For more information on the Fund, please visit the Fund’s webpage
at www.boulderfunds.net.

The Fund is a closed-end fund and does not continuously issue stock for
sale as open-end mutual funds do. The Fund now trades in the secondary
market. Investors wishing to buy or sell stock need to place orders
through an intermediary or broker. The share price of a closed-end fund
is based on the market value.

SS&C Technologies

SS&C is a global provider of investment and financial software-enabled
services and software for the global financial services and healthcare
industries. Founded in 1986, SS&C is headquartered in Windsor,
Connecticut and has offices around the world. Some 13,000 financial
services and healthcare organizations, from the world’s largest
institutions to local firms, manage and account for their investments
using SS&C’s products and services.

ALPS Advisors, Inc.

ALPS, which was acquired by SS&C in April 2018, provides customized
asset servicing and asset gathering solutions to the financial services
community through an entrepreneurial culture based on the commitment to
“Do Things Right.” Founded in 1985, ALPS continues to actively promote
all of its various business segments, from asset servicing through ALPS
Fund Services, Inc. to asset gathering through ALPS Distributors, Inc.
and ALPS Advisors, Inc. Headquartered in Denver, with offices in Boston,
New York, Seattle, and Toronto, ALPS, a wholly-owned subsidiary of DST
Systems, Inc., today represents more than 400 employees, over 200
clients, and an executive team that has been in place for more than 18
years. For more information about ALPS and its services, visit www.alpsinc.com.
Information about ALPS products is available at www.alpsfunds.com.

Rocky Mountain Advisers, LLC

RMA is an investment adviser registered with the SEC based out of
Kansas. More information about RMA is available at www.boulderfunds.net
as well as the SEC’s investment adviser search website at www.adviserinfo.sec.gov.

ALPS Portfolio Solutions Distributor, Inc., FINRA Member.

NOT FDIC INSURED | May Lose Value | No Bank Guarantee

Contacts

SS&C Technologies
Jen Molgano, +1 617-648-0948
Public
Relations
jmolgano@sscinc.com