BOULDER GROWTH & INCOME FUND, INC. URGES  STOCKHOLDERS TO PARTICIPATE IN PENDING
RIGHTS OFFERING

Boulder,  Colo. - (BUSINESS  WIRE) - September  11, 2007 - The Boulder  Growth &
Income Fund, Inc. (NYSE: BIF) urged stockholders today that they should consider
participating in the Fund's recently announced rights offering,  as it may offer
stockholders  the  opportunity  to purchase  shares of the Fund at less than the
current market price per share.  Steve Miller,  president of the Fund,  said "If
the offering expired today,  stockholders would pay $8.47 per share based on the
most recently  calculated  net asset value as of September 7, 2007.  The closing
market  price of $9.32 per share on September  10, 2007  represents a premium of
10% to the Fund's most recently calculated net asset value."

The Fund distributed  non-transferable rights to its stockholders in August, and
the  expiration  date and pricing date of the offering is Friday,  September 14,
2007, at 5:00 pm New York time, unless extended.  The actual  subscription price
will be equal to the net asset  value per  share as  calculated  at the close of
trading  on the date of  expiration  of the  rights  offering.  There  can be no
guarantee that the market closing price per share on the expiration  date of the
offering will exceed the subscription price per share.

Stockholders  who fully  exercise all rights  issued to them will be entitled to
subscribe  for  additional  shares  at the  subscription  price  pursuant  to an
over-subscription  privilege.  Any additional shares a stockholder receives will
come  from the pool of shares  left by those  stockholders  who do not  exercise
their rights. Accordingly, the number of shares stockholders might receive above
their original allotment cannot be known at this time. To exercise rights in the
rights offering,  stockholders should contact their financial advisor, custodian
or trust officer with instructions prior to expiration.

This press  release  contains a summary of certain  terms of the  offering,  and
stockholders  are  urged  to  read  the  prospectus.   Persons  seeking  further
information  regarding the Fund's rights offering,  or interested in obtaining a
prospectus,  should  contact  their  broker or  nominee,  or contact  the Fund's
Information Agent, Morrow & Co., Inc., at 1-800-607-0088. The prospectus for the
offering is also available through the Fund's website: www.boulderfunds.net.

INVESTORS SHOULD CONSIDER THE FUND'S INVESTMENT OBJECTIVE, RISKS AND CHARGES AND
EXPENSES  CAREFULLY  BEFORE  INVESTING.  THE PROSPECTUS  CONTAINS THIS AND OTHER
INFORMATION  ABOUT THE FUND AND CAN BE  OBTAINED AS SET FORTH  ABOVE.  INVESTORS
SHOULD READ THE PROSPECTUS CAREFULLY BEFORE INVESTING.

THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE  SOLICITATION OF
AN OFFER TO BUY, NOR SHALL THERE BE ANY SALE OF THE  SECURITIES  IN ANY STATE IN
WHICH SUCH OFFER,  SOLICITATION  OR SALE WOULD BE UNLAWFUL  UNDER THE SECURITIES
LAWS OF ANY SUCH STATE.

Contact: Boulder Investment Advisers, LLC
Nicole Murphey, (303) 449-0426