TYW Declares Quarterly Dividend

LISLE, Ill.--(Business Wire)--
TS&W/Claymore Tax-Advantaged Balanced Fund (NYSE: TYW) has
declared its quarterly dividend of $0.2525 per common share. This
represents an annualized distribution rate of 9.22% based upon the
closing market price of $10.96 on August 29, 2008.

Given the Fund's tax characteristics for the 2007 calendar year,
this rate represents a tax-advantaged distribution rate of 12.46% for
an individual shareholder subject to the maximum federal income tax
rate of 35%. The final determination of the tax characteristics of
dividends paid is made after the end of each calendar year. There can
be no assurance that this characterization is indicative of future
allocations or that this distribution rate will be achieved in the
future.

As of July 31, 2008, the Fund's portfolio consisted of 58.76%
municipal securities and 41.24% equity and other taxable
income-producing securities. Since its inception on April 28, 2004
through August 31, 2008 the Fund generated an average annual total
return, including reinvestment of dividends, of 3.90% based on net
asset value ("NAV") and -0.32% based on market price. The Fund's one
year total return, as of August 31, 2008 was -12.97% based on NAV and
-16.99% based on market price.

The Fund's investment objective is to provide a high level of
total after-tax return, including attractive tax-advantaged income.
Under normal market conditions, the Fund seeks to achieve its
investment objective by investing in a portfolio of assets consisting
primarily of (i) municipal securities, the interest on which is exempt
from regular Federal income tax, and which is not a preference item
for purposes of the alternative minimum tax and (ii) common stocks and
preferred securities that are eligible to pay dividends which, for
individual shareholders, qualify for the long term capital gains rate.

The September 2008 dividend will be paid on September 30, 2008 to
shareholders of record as of September 15, 2008 with an ex-dividend
date of September 11, 2008. If it is determined that a notification is
required pursuant to Section 19(a) of the Investment Company Act of
1940, as amended, such notice will be posted to the Fund's website
after the close of business three business days prior to the payable
date.

Claymore Advisors, LLC (an affiliate of Claymore Securities, Inc.)
serves as Investment Adviser to the Fund. Claymore Securities, Inc. is
a privately-held financial services company offering unique investment
solutions for financial advisors and their valued clients. Claymore
entities have provided supervision, management, servicing and/or
distribution on approximately $18.4 billion in assets, as of June 30,
2008. Claymore currently offers closed-end funds, unit investment
trusts and exchange-traded funds. To learn more about all of
Claymore's closed-end funds, please visit www.claymore.com/CEFs.
Registered investment products are sold by prospectus only and
investors should read the prospectus carefully before investing.

SMC Fixed Income Management, LP serves as an Investment
Sub-Adviser to the Fund and is responsible for the day-to-day
management of the municipal securities portion of the Fund. SMC uses
both bottom-up and top-down analysis in constructing portfolios.

Thompson, Siegel & Walmsley LLC ("TS&W") serves as an Investment
Sub-Adviser to the Fund and is responsible for the day-to-day
management of the equity and income securities portion of the Fund.
TS&W was founded in 1969 and provides investment management services
to corporations, pension and profit-sharing plans, 401(k) and thrift
plans, trusts, estates and other institutions and individuals. As of
June 30, 2008, TS&W had approximately $7.4 billion in assets under
management.

This information does not represent an offer to sell securities of
the Fund and it is not soliciting an offer to buy securities of the
Fund. There can be no assurance that the Fund will achieve its
investment objectives. The net asset value of the Fund 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. Past performance is not indicative of future performance.
An investment in the Fund is subject to certain risks and other
considerations. Such risks and considerations include, but are not
limited to: Investment Risk, Market Discount Risk, Interest Rate Risk,
Credit Risk, Lower-Grade and Unrated Securities Risk, Leverage Risk,
Issuer Risk, Country Risk, Prepayment Risk, Reinvestment Risk,
Derivatives Risk, Inflation/Deflation Risk, Management Risk, Turnover
Risk, Anti-Takeover Provisions, Smaller Company Risk, and Market
Disruption and Geopolitical Risk.

Investors should consider the investment objectives and policies,
risk considerations, charges and expenses of the Fund carefully before
they invest. For this and more information, please contact a
securities representative or Claymore Securities, Inc., 2455 Corporate
West Drive, Lisle, Illinois 60532, 800-345-7999.

Member FINRA/SIPC (9/08)

NOT FDIC-INSURED - NOT BANK-GUARANTEED - MAY LOSE VALUE

Claymore Securities, Inc.
Press and Analyst Inquiries:
William T. Korver
wkorver@claymore.com
630-505-3700

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