Guggenheim Partners Announces the Acquisition of Investment Adviser to Claymore-Advised Funds

http://www.businesswire.com/news/home/20091015006432/en

LISLE, Ill.--(Business Wire)--
Guggenheim Partners, LLC ("Guggenheim Partners"), a global diversified financial
services firm, and Claymore Group Inc. ("Claymore"), a leading provider of
innovative investment products, including exchange-traded funds ("ETFs"),
closed-end funds ("CEFs" and, together with the ETFs, the "Funds") and unit
investment trusts, announce the completion of a previously-announced merger. As
a result of the transaction, Claymore and its associated entities, including
Claymore Securities, Inc., Claymore Advisors, LLC and Claymore Investments, Inc.
in Canada, are now indirect wholly-owned subsidiaries of Guggenheim Partners.

Claymore Advisors, LLC serves as the Investment Adviser and, with the exception
of WIW, the Administrator, for the following U.S. CEFs:

Ticker Fund Name
AGC Advent/Claymore Global Convertible Securities & Income Fund
DCS Claymore Dividend & Income Fund
FMO Fiduciary/Claymore MLP Opportunity Fund
GOF Claymore/Guggenheim Strategic Opportunities Fund
LCM Advent/Claymore Enhanced Growth & Income Fund
MCN Madison/Claymore Covered Call & Equity Strategy Fund
OLA Old Mutual/Claymore Long-Short Fund
TYW TS&W/Claymore Tax-Advantaged Balanced Fund
WIW Western Asset/Claymore Inflation-Linked Opportunities & Income Fund

Claymore Advisors, LLC serves as the Investment Adviser and the Administrator
for the following U.S. ETFs:

Ticker Fund Name
CGW Claymore S&P Global Water Index ETF
CRO Claymore/Zacks Country Rotation ETF
CSD Claymore/Beacon Spin-Off ETF
CUT Claymore/Beacon Global Timber Index ETF
CVY Claymore/Zacks Multi-Asset Income Index ETF
CZA Claymore/Zacks Mid-Cap Core ETF
DEF Claymore/Sabrient Defensive Equity Index ETF
EEB Claymore/BNY Mellon BRIC ETF
EEN Claymore/BNY Mellon EW Euro-Pacific LDRs ETF
ENY Claymore/SWM Canadian Energy Income Index ETF
EXB Claymore/Beacon Global Exchanges, Brokers & Asset Managers Index ETF
FAA Claymore/NYSE Arca Airline ETF
FRN Claymore/BNY Mellon Frontier Markets ETF
HAO Claymore/AlphaShares China Small Cap Index ETF
HGI Claymore/Zacks International Multi-Asset Income Index ETF
IRO Claymore/Zacks Dividend Rotation ETF
LVL Claymore/S&P Global Dividend Opportunities Index ETF
MZG Claymore/Morningstar Manufacturing Super Sector Index ETF
MZN Claymore/Morningstar Information Super Sector Index ETF
MZO Claymore/Morningstar Services Super Sector Index ETF
NFO Claymore/Sabrient Insider ETF
OTP Claymore/Ocean Tomo Patent ETF
OTR Claymore/Ocean Tomo Growth Index ETF
ROB Claymore/Robb Report Global Luxury Index ETF
RYJ Claymore/Raymond James SB-1 Equity ETF
SEA Claymore/Delta Global Shipping Index ETF
STH Claymore/Sabrient Stealth ETF
TAN Claymore/MAC Global Solar Energy Index ETF
TAO Claymore/AlphaShares China Real Estate ETF
UBD Claymore U.S. Capital Markets Bond ETF
ULQ Claymore U.S. Capital Markets Micro-Term Fixed Income ETF
UEM Claymore U.S.-1 - The Capital Markets Index ETF
XGC Claymore/BNY Mellon International Small Cap LDRs ETF
XRO Claymore/Zacks Sector Rotation ETF

For each of those Funds for which Claymore Advisors, LLC serves as Investment
Adviser, consummation of the transaction is deemed to be an "assignment" of the
investment advisory agreements for purposes of the Investment Company Act of
1940, as amended, and has resulted in the automatic termination of those
agreements. In anticipation of the closing of the transaction, the Boards of
Trustees or Boards of Directors, as applicable, of those Funds approved interim
investment advisory agreements and, as necessary, interim investment
sub-advisory agreements or interim investment management agreements, which
became effective upon the closing of the transaction on Wednesday, October 14,
2009. The Boards of Trustees or Boards of Directors, as applicable, of those
Funds also approved the submission of new investment advisory agreements and, as
necessary, new investment sub-advisory agreements or new investment management
agreements to shareholders of the Funds for their approval. Claymore Advisors,
LLC will continue to serve as Investment Adviser and, as applicable, certain
investment sub-advisers and investment managers will continue to serve the Funds
in such capacities, each on an interim basis, for a period of time not to exceed
150 days while shareholder approval of the new agreements is sought.

Shareholders of the aforementioned Funds will receive a proxy statement in
advance of a shareholder meeting at which shareholders will vote on the new
agreements. The proxy statement will contain additional information about the
transaction and the new agreements.

Claymore Advisors, LLC continues to serve as Administrator to the aforementioned
Funds, as applicable, and the Funds` Boards of Trustees or Boards of Directors,
as applicable, intend to continue to monitor the services provided by Claymore
Advisors, LLC to ensure that the continuation of the administration agreements
is in the best interests of shareholders.

Claymore Advisors, LLC serves as Administrator and Claymore Securities, Inc.
serves as the Servicing Agent for the two following U.S. CEFs:

Ticker Fund Name
AVK Advent Claymore Convertible Securities and Income Fund
MZF MBIA Capital/Claymore Managed Duration Investment Grade Municipal Fund

In addition to AVK and MZF, Claymore Securities, Inc. serves as the Servicing
Agent for the following U.S. CEFs:

Ticker Fund Name
FFC Flaherty & Crumrine/Claymore Preferred Securities Income Fund
FLC Flaherty & Crumrine/Claymore Total Return Fund
WIA Western Asset/Claymore Inflation-Linked Securities & Income Fund

The servicing agreements for the five aforementioned funds terminated pursuant
to their terms as a result of the transaction. The Funds` Boards of Trustees or
Boards of Directors, as applicable, approved new servicing agreements for those
Funds that became effective upon closing of the transaction on Wednesday,
October 14, 2009; however, shareholder approval of the new servicing agreements
is not required.

Guggenheim Partners is a diversified financial services firm with more than $100
billion in assets under supervision. The firm`s businesses include investment
management, investment advisory, 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.

Based in Lisle, Illinois, Claymore is a privately-held financial services
company offering unique investment solutions for financial advisors and their
valued clients. Claymore entities have provided supervision, management or
servicing on approximately $11.3 billion in assets, as of June 30, 2009.
Claymore currently offers closed-end funds, unit investment trusts and
exchange-traded funds. Registered investment products are sold by prospectus
only and investors should read the prospectus carefully before investing. For
further information regarding Claymore please visit www.claymore.com.

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. See www.claymore.com/CEF for a detailed discussion of
fund-specific risks.

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 at Claymore Securities, Inc., 2455 Corporate
West Drive, Lisle, Illinois 60532, 800-345-7999.

Member FINRA/SIPC (10/09)

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

Press and Analyst Inquiries:
ETFs
Christian Magoon
Claymore Securities, Inc.
etfinfo@claymore.com
(630) 463-4000
or
CEFs
William T. Korver
Claymore Securities, Inc.
cefs@claymore.com
(630) 505-3700
or
Guggenheim Partners
Jeffrey Kelley
Guggenheim
Jeffey.kelley@guggenheimpartners.com
(312) 977-4029

Copyright Business Wire 2009