Pioneer Investments Declares Monthly Distributions for Closed-End Funds

BOSTON--(Business Wire)--
Pioneer Investments today announced the declaration of dividends
for five closed-end funds for August 2008. The closing market price,
annualized distribution rate and NAV distribution rate are based on
data as of August 4, 2008.

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*T
Ex Date: August 13, 2008
Record Date: August 15, 2008
Payable Date: August 29, 2008
*T

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*T
Fund Distribution Market Market Price NAV NAV
Price (a) Distribution Distribution
Rate Rate

Pioneer High
Income
Trust
(NYSE: PHT) $ 0.1375 $ 13.55 12.18% $ 13.19 12.51%
Pioneer
Municipal
High Income
Trust
(NYSE: MHI) $ 0.0700 $ 13.06 6.43% $ 13.43 6.25%
Pioneer
Municipal
High Income
Advantage
Trust
(NYSE: MAV) $ 0.0750 $ 13.21 6.81% $ 12.99 6.93%
Pioneer
Floating
Rate Trust
(NYSE: PHD) $ 0.1150 $ 13.19 10.46% $ 15.23 9.06%
Pioneer
Municipal
and Equity
Income
Trust
(NYSE: PBF)
(b) $ 0.1120 $ 11.68 11.51% $ 12.09 11.12%
*T

(a) Source: ETF Connect

(b) At this time, PBF believes that a portion of its distributions
may include a return of capital, in addition to net investment income
and long-term capital gains. A return of capital is not a distribution
of income or capital gains from the fund, does not necessarily reflect
the fund's investment performance, and should not be considered
"yield" or "income." Further information on the composition of the
distributions will be made available on the payment date and will be
available at www.pioneerinvestments.com. The final determination of
tax characteristics of the fund's distributions will occur after the
end of the year, at which time it will be reported to shareholders.

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*T
Taxable-Equivalent Taxable-
Equivalent
Distribution Rate Distribution Rate
at Market Price (c) at NAV (c)

Pioneer Municipal High
Income Trust (NYSE:
MHI) 9.89% 9.62%
Pioneer Municipal High
Income Advantage Trust
(NYSE: MAV) 10.48% 10.66%
Pioneer Municipal and
Equity Income Trust
(NYSE: PBF) 16.67% 16.10%
*T

(c) Taxable-Equivalent Distribution Rate is computed based on the
estimated effective tax rate of the fund as of 7/31/2008.

The funds are closed-end investment companies. Each fund's common
shares trade on the New York Stock Exchange (NYSE). Pioneer Investment
Management, Inc. is each fund's investment adviser.

Keep in mind, dividends are not guaranteed. Closed end funds,
unlike open-end funds, are not continuously offered. There is a
one-time public offering and once issued, shares of closed-end funds
are bought and sold in the open market through a stock exchange and
frequently trade at prices lower than their net asset values. Net
Asset Value (NAV) is total assets less total liabilities divided by
the number of common shares outstanding. For performance data on
Pioneer's closed-end funds, please call 800-225-6292 or visit our
closed-end pricing page.

(C)2008 Pioneer Investment Management, Inc.

Member of the UniCredit Banking Group, Register of Banking Groups

Pioneer Investment Management, Inc.
Shareholder Inquiries:
Please contact your financial advisor
or visit www.pioneerinvestments.com
or
Broker/Advisor Inquiries Please Contact:
800-622-9876
or
Media Inquiries Please Contact:
Geoff Smith, 617-422-4727

Copyright Business Wire 2008