X0202 4 2008-03-18 0 0000102426 BOULDER GROWTH & INCOME FUND BIF 0001091477 ERNEST HOREJSI TRUST NO 1B 3601 C STREET, STE 600 ANCHORAGE AK 99503 0 0 1 0 0001246903 HOREJSI STEWART R 200 SOUTH SANTA FE SALINA KS 67401 0 0 1 0 0001245558 CICIORA SUSAN L 2344 SPRUCE STREET, STE A BOULDER CO 80302 1 0 0 0 Common Stock 2008-03-18 4 S 0 2650 9.2 D 2483374 D Common Stock 2008-03-18 4 S 0 1500 9.26 D 2481874 D Common Stock 2008-03-18 4 S 0 5450 9.38 D 2476424 D Common Stock 2008-03-18 4 S 0 5300 9.39 D 2471124 D Common Stock 2008-03-18 4 S 0 4300 9.42 D 2466824 D Common Stock 2008-03-18 4 S 0 3300 9.45 D 2463524 D Common Stock 2008-03-18 4 S 0 1500 9.4 D 2462024 D Common Stock 2008-03-18 4 S 0 7450 9.43 D 2454574 D Common Stock 2008-03-18 4 S 0 4300 9.44 D 2450274 D Common Stock 2008-03-19 4 S 0 5190 9.25 D 2445084 D Common Stock 2008-03-19 4 S 0 2110 9.27 D 2442974 D Common Stock 2008-03-19 4 S 0 3600 9.3 D 2439374 D Common Stock 2008-03-19 4 S 0 1157 9.2 D 2438217 D Common Stock 2008-03-19 4 S 0 3643 9.22 D 2434574 D Common Stock 2008-03-19 4 S 0 1200 9.21 D 2433374 D The trustees of the Ernest Horejsi Trust No. 1B (the "Ernest Trust") are Badlands Trust Company LLC ("Badlands"), Susan L. Ciciora and Larry Dunlap. Such trustees may be deemed to control the Ernest Trust and may be deemed to possess indirect beneficial ownership of the Shares held by the Ernest Trust. However, none of the trustees, acting alone, can vote or exercise dispositive authority over Shares held by the Ernest Trust. Accordingly, Badlands, Ms. Ciciora and Mr. Dunlap disclaim beneficial ownership of the Shares beneficially owned, directly or indirectly, by the Ernest Trust. In addition to serving as a trustee, Ms. Ciciora is also a beneficiary of the Ernest Trust. As a result of his advisory role with the Ernest Trust, Stewart R. Horejsi may be deemed to have indirect beneficial ownership of the Shares directly beneficially owned by the Ernest Trust. However, Mr. Horejsi disclaims such beneficial ownership of the Shares directly beneficially held by the Ernest Trust. Stephen C. Miller, President, Badlands Trust Company, LLC, trustee of the Ernest Horejsi Trust No. 1B 2008-03-20 Stewart R. Horejsi 2008-03-20 Susan L. Ciciora 2008-03-20