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Guggenheim Funds Announces Election of Officers for Certain Closed-End Funds and Exchange-Traded Funds

The exchange-traded funds advised by Guggenheim Funds Investment Advisors, LLC and certain closed-end funds advised by Guggenheim Funds Investment Advisors, LLC or serviced by Guggenheim Funds Distributors, Inc. (each a “Fund” and together the “Funds”) announce the election by the respective boards of trustees of the Funds of Mr. Kevin M. Robinson as the Chief Executive Officer of each Fund and Mr. Bruce Albelda as the Interim Chief Financial Officer, Interim Chief Accounting Officer and Interim Treasurer of each Fund. Mr. Robinson succeeds Mr. J. Thomas Futrell, who previously served as Chief Executive Officer of each Fund, and Mr. Albelda succeeds Mr. Steven M. Hill, who previously served as Chief Financial Officer, Chief Accounting Officer and Treasurer of each Fund.

Mr. Robinson is Senior Managing Director, General Counsel and Corporate Secretary of Guggenheim Funds Services Group, Inc. and oversees the firm's legal, compliance and governance efforts. Prior to joining Guggenheim Funds in 2007, he was most recently at NYSE Euronext, Inc., from 2000 to 2007, where he served as Associate General Counsel for its Corporate Practice Group. He previously worked at ABN Amro Inc., where he was responsible for corporate and regulatory matters, and he served as Senior Counsel in the Enforcement Division of the U.S. Securities and Exchange Commission. Mr. Robinson earned a J.D. from the University of Iowa College of Law, and a B.A. from Coe College. He is a member of the American Bar Association, the American Corporate Counsel Association and the Society of Corporate Secretaries and Governance Professionals. Mr. Robinson has served, and will continue to serve, as Chief Legal Officer of the Funds. He also serves as a Trustee on MZF.

Mr. Albelda is Senior Managing Director and Chief Financial Officer of Guggenheim Funds Services Group, Inc. and Claymore Investments, Inc. and oversees all aspects of the firm’s finances. Prior to joining Guggenheim Funds in 2007, he was most recently a Consultant for Concentric Equity Partners. He previously worked as Chief Financial Officer for Cantata Technology from 2003 to 2006 as well as Chief Financial Officer for Airslide Systems. from 2001 to 2003. He earned an M.B.A. in Finance from the Wharton School of Business and graduated Cum Laude from Williams College with a B.A. in Economics. Mr. Albelda is Series 27 licensed with FINRA.

The Funds include all exchange-traded funds in Claymore Exchange-Traded Fund Trust and Claymore Exchange-Traded Fund Trust 2 and the following closed-end funds advised by Guggenheim Funds Investment Advisors, LLC or serviced by Guggenheim Funds Distributors, Inc.:

DCS Claymore Dividend & Income Fund

FMO Fiduciary/Claymore MLP Opportunity Fund

GOF Claymore/Guggenheim Strategic Opportunities Fund

GPM Guggenheim Enhanced Equity Income Fund

MCN Madison/Claymore Covered Call & Equity Strategy Fund

MZF Managed Duration Investment Grade Municipal Fund

TYW TS&W/Claymore Tax-Advantaged Balanced Fund

Guggenheim Funds Distributors, Inc. (“Guggenheim Funds Distributors”) 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), Guggenheim Funds Distributors often leads its peers with creative investment strategy solutions. Guggenheim Funds Distributors and its affiliates provide supervision, management or servicing of assets with a commitment to consistently delivering exceptional service. Guggenheim Funds Distributors 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 Partners, LLC, 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.

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. An investment in any investment product is subject to certain risks and other considerations, including the possible loss of the entire principal amount you invest. There can be no assurance that any investment product will achieve its investment objectives. An investment in non-U.S. issuers involves risks that are in addition to the risks associated with domestic issuers; and therefore, may be subject to additional currency, political, economic, and market risks. 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.

Investors should carefully consider the investment objectives and policies, risk considerations, charges and ongoing expenses of any investment product before investing. The prospectus contains this and other relevant information. Please read the prospectus carefully before you invest. To obtain a prospectus, please contact a securities representative Guggenheim Funds Distributors, Inc., 2455 Corporate West Drive, Lisle, Illinois 60532, 800-345-7999.

Member FINRA/SIPC (10/10)


Press and Analyst Inquiries:
Guggenheim Funds Distributors, Inc.
William T. Korver, 800-345-7999 or

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