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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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SIGNATURE RHOWENA BLANK
TITLE DIRECTOR
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<NAME> CALAMOS CONVERTIBLE FUND CLASS A
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<NAME> CALAMOS CONVERTIBLE FUND CLASS C
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<NAME> CALAMOS GROWTH & INCOME FUND CLASS A
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<NAME> CALAMOS GROWTH & INCOME FUND CLASS C
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,861
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 99,827
<AVERAGE-NET-ASSETS> 2,920,069
<PER-SHARE-NAV-BEGIN> 11.72
<PER-SHARE-NII> 0.21
<PER-SHARE-GAIN-APPREC> 0.27
<PER-SHARE-DIVIDEND> 0.21
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.99
<EXPENSE-RATIO> 2.10
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 041
<NAME> CALAMOS GROWTH FUND CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 14,227,353
<INVESTMENTS-AT-VALUE> 18,523,622
<RECEIVABLES> 148,091
<ASSETS-OTHER> 644,004
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 19,315,717
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 88,208
<TOTAL-LIABILITIES> 88,208
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13,201,819
<SHARES-COMMON-STOCK> 732,373
<SHARES-COMMON-PRIOR> 665,254
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,729,421
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,296,269
<NET-ASSETS> 19,227,509
<DIVIDEND-INCOME> 7,968
<INTEREST-INCOME> 20,278
<OTHER-INCOME> 0
<EXPENSES-NET> 178,815
<NET-INVESTMENT-INCOME> (144,569)
<REALIZED-GAINS-CURRENT> 1,343,828
<APPREC-INCREASE-CURRENT> 447,360
<NET-CHANGE-FROM-OPS> 1,646,619
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 108,450
<NUMBER-OF-SHARES-REDEEMED> 81,126
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,574,674
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 530,162
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 87,456
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 197,815
<AVERAGE-NET-ASSETS> 14,816,751
<PER-SHARE-NAV-BEGIN> 23.51
<PER-SHARE-NII> (0.14)
<PER-SHARE-GAIN-APPREC> 2.89
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<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 26.26
<EXPENSE-RATIO> 2.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 042
<NAME> CALAMOS GROWTH FUND CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 14,227,353
<INVESTMENTS-AT-VALUE> 18,523,622
<RECEIVABLES> 148,091
<ASSETS-OTHER> 644,004
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<TOTAL-ASSETS> 19,315,717
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<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 88,208
<TOTAL-LIABILITIES> 88,208
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13,201,819
<SHARES-COMMON-STOCK> 732,373
<SHARES-COMMON-PRIOR> 665,254
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,729,421
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,296,269
<NET-ASSETS> 19,227,509
<DIVIDEND-INCOME> 7,968
<INTEREST-INCOME> 20,278
<OTHER-INCOME> 0
<EXPENSES-NET> 178,815
<NET-INVESTMENT-INCOME> (144,569)
<REALIZED-GAINS-CURRENT> 1,343,828
<APPREC-INCREASE-CURRENT> 447,360
<NET-CHANGE-FROM-OPS> 1,646,619
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 42,217
<NUMBER-OF-SHARES-REDEEMED> 2,422
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,574,674
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 530,162
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 87,456
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 197,815
<AVERAGE-NET-ASSETS> 737,229
<PER-SHARE-NAV-BEGIN> 23.18
<PER-SHARE-NII> (0.26)
<PER-SHARE-GAIN-APPREC> 2.89
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 25.81
<EXPENSE-RATIO> 2.50
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 043
<NAME> CALAMOS GROWTH FUND CLASS I
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 14,227,353
<INVESTMENTS-AT-VALUE> 18,523,622
<RECEIVABLES> 148,091
<ASSETS-OTHER> 644,004
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 19,315,717
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 88,208
<TOTAL-LIABILITIES> 88,208
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13,201,819
<SHARES-COMMON-STOCK> 732,373
<SHARES-COMMON-PRIOR> 665,254
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,729,421
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,296,269
<NET-ASSETS> 19,227,509
<DIVIDEND-INCOME> 7,968
<INTEREST-INCOME> 20,278
<OTHER-INCOME> 0
<EXPENSES-NET> 178,815
<NET-INVESTMENT-INCOME> (144,569)
<REALIZED-GAINS-CURRENT> 1,343,828
<APPREC-INCREASE-CURRENT> 447,360
<NET-CHANGE-FROM-OPS> 1,646,619
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,574,674
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 530,162
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 87,456
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 197,815
<AVERAGE-NET-ASSETS> 1,890,907
<PER-SHARE-NAV-BEGIN> 23.71
<PER-SHARE-NII> (0.06)
<PER-SHARE-GAIN-APPREC> 2.89
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 26.54
<EXPENSE-RATIO> 1.50
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 051
<NAME> CALAMOS GLOBAL GROWTH & INCOME FUND CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 6,771,417
<INVESTMENTS-AT-VALUE> 8,406,837
<RECEIVABLES> 519,682
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<TOTAL-ASSETS> 9,438,563
<PAYABLE-FOR-SECURITIES> 638,996
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 340,651
<TOTAL-LIABILITIES> 979,647
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6,815,039
<SHARES-COMMON-STOCK> 1,202,695
<SHARES-COMMON-PRIOR> 1,158,156
<ACCUMULATED-NII-CURRENT> 20,398
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 161,790
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,461,689
<NET-ASSETS> 8,458,916
<DIVIDEND-INCOME> 46,919
<INTEREST-INCOME> 51,729
<OTHER-INCOME> 0
<EXPENSES-NET> 83,518
<NET-INVESTMENT-INCOME> 15,130
<REALIZED-GAINS-CURRENT> 148,786
<APPREC-INCREASE-CURRENT> 378,915
<NET-CHANGE-FROM-OPS> 542,831
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 46,293
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 111,791
<NUMBER-OF-SHARES-REDEEMED> 92,567
<SHARES-REINVESTED> 5,109
<NET-CHANGE-IN-ASSETS> 799,397
<ACCUMULATED-NII-PRIOR> 51,561
<ACCUMULATED-GAINS-PRIOR> 13,004
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 41,353
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 126,355
<AVERAGE-NET-ASSETS> 6,841,623
<PER-SHARE-NAV-BEGIN> 6.61
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 0.43
<PER-SHARE-DIVIDEND> 0.04
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.04
<EXPENSE-RATIO> 2.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 052
<NAME> CALAMOS GLOBAL GROWTH & INCOME FUND CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 6,771,417
<INVESTMENTS-AT-VALUE> 8,406,837
<RECEIVABLES> 519,682
<ASSETS-OTHER> 512,044
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 9,438,563
<PAYABLE-FOR-SECURITIES> 638,996
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 340,651
<TOTAL-LIABILITIES> 979,647
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6,815,039
<SHARES-COMMON-STOCK> 1,202,695
<SHARES-COMMON-PRIOR> 1,158,156
<ACCUMULATED-NII-CURRENT> 20,398
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 161,790
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,461,689
<NET-ASSETS> 8,458,916
<DIVIDEND-INCOME> 46,919
<INTEREST-INCOME> 51,729
<OTHER-INCOME> 0
<EXPENSES-NET> 83,518
<NET-INVESTMENT-INCOME> 15,130
<REALIZED-GAINS-CURRENT> 148,786
<APPREC-INCREASE-CURRENT> 378,915
<NET-CHANGE-FROM-OPS> 542,831
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 46,293
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 19,139
<NUMBER-OF-SHARES-REDEEMED> 146
<SHARES-REINVESTED> 200
<NET-CHANGE-IN-ASSETS> 799,397
<ACCUMULATED-NII-PRIOR> 51,561
<ACCUMULATED-GAINS-PRIOR> 13,004
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 41,353
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 126,355
<AVERAGE-NET-ASSETS> 832,341
<PER-SHARE-NAV-BEGIN> 6.57
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.43
<PER-SHARE-DIVIDEND> 0.04
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.98
<EXPENSE-RATIO> 2.50
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 053
<NAME> CALAMOS GLOBAL GROWTH & INCOME FUND CLASS I
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 6,771,417
<INVESTMENTS-AT-VALUE> 8,406,837
<RECEIVABLES> 519,682
<ASSETS-OTHER> 512,044
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 9,438,563
<PAYABLE-FOR-SECURITIES> 638,996
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 340,651
<TOTAL-LIABILITIES> 979,647
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6,815,039
<SHARES-COMMON-STOCK> 1,202,695
<SHARES-COMMON-PRIOR> 1,158,156
<ACCUMULATED-NII-CURRENT> 20,398
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 161,790
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,461,689
<NET-ASSETS> 8,458,916
<DIVIDEND-INCOME> 46,919
<INTEREST-INCOME> 51,729
<OTHER-INCOME> 0
<EXPENSES-NET> 83,518
<NET-INVESTMENT-INCOME> 15,130
<REALIZED-GAINS-CURRENT> 148,786
<APPREC-INCREASE-CURRENT> 378,915
<NET-CHANGE-FROM-OPS> 542,831
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 46,293
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 518
<NET-CHANGE-IN-ASSETS> 799,367
<ACCUMULATED-NII-PRIOR> 51,561
<ACCUMULATED-GAINS-PRIOR> 13,004
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 41,353
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 126,355
<AVERAGE-NET-ASSETS> 508,541
<PER-SHARE-NAV-BEGIN> 6.63
<PER-SHARE-NII> 0.07
<PER-SHARE-GAIN-APPREC> 0.42
<PER-SHARE-DIVIDEND> 0.05
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.07
<EXPENSE-RATIO> 1.50
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 060
<NAME> CALAMOS HIGH YIELD FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 330,322
<INVESTMENTS-AT-VALUE> 328,703
<RECEIVABLES> 9,113
<ASSETS-OTHER> 415,003
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 752,819
<PAYABLE-FOR-SECURITIES> 17,922
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 538
<TOTAL-LIABILITIES> 18,460
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 733,498
<SHARES-COMMON-STOCK> 73,447
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2,480
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,619)
<NET-ASSETS> 734,359
<DIVIDEND-INCOME> 328
<INTEREST-INCOME> 3,297
<OTHER-INCOME> 0
<EXPENSES-NET> 1,145
<NET-INVESTMENT-INCOME> 2,480
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> (1,619)
<NET-CHANGE-FROM-OPS> 861
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 73,447
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 734,359
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 429
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,288
<AVERAGE-NET-ASSETS> 1,147,196
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> (0.03)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.00
<EXPENSE-RATIO> 1.80
</TABLE>
EXHIBIT 99.I
CALAMOS INVESTMENT TRUST
WRITTEN INSTRUMENT ESTABLISHING AND DESIGNATING
CALAMOS HIGH YIELD FUND
The undersigned, being a majority of the trustees of Calamos Investment
Trust (the "Trust"), a business trust organized pursuant to an amended and
restated Agreement and Declaration of Trust dated June 23, 1997, (the
"Declaration of Trust"), pursuant to Section 4.1 of the Declaration of Trust, do
hereby establish and designate a sixth series of Shares of the Trust to be known
as Calamos High Yield Fund. The relative rights and preferences of such series
shall be as set forth in the Declaration of Trust.
IN WITNESS WHEREOF, the undersigned have this the 27th day of July, 1999
signed these presents.
/s/ John P. Calamos
--------------------------------
John P. Calamos
/s/ Nick P. Calamos
--------------------------------
Nick P. Calamos
/s/ Richard Dowen
--------------------------------
Richard Dowen
/s/ Robert Frost
--------------------------------
Robert Frost
/s/ William Kaun
--------------------------------
William Kaun
