Highland Funds Announces Posting of Webcast: Highland Floating Rate Fund & Highland Floating Rate Advantage Fund 3Q09 Update

DALLAS--(Business Wire)--
Highland Capital Management, L.P. ("Highland") is pleased to announce the
availability of an informative webcast consisting of the Highland Floating Rate
Fund & Highland Floating Rate Advantage Fund 3rd Quarter 2009 update.

On this fund specific overview Highland addresses third quarter performance,
current positioning, and answers fund specific questions submitted via Highland
Fund`s website.

The pre-recorded webcast is posted on the homepage of our website,
www.highlandfunds.com.

Alternatively the webcast can be accessed through the below link:

Highland Floating Rate Fund & Highland Floating Rate Advantage Fund 3Q09 Update:

https://www119.livemeeting.com/cc/vcmeeting/view?id=2C728S

In order to access the webcast, click the above link and enter your name (no
"Recording Key" is needed). You can view either the high fidelity version or
Microsoft Media Player enabled version by selecting the icon for the respective
technology.

The 3Q09 General Credit Market Update is currently available on the homepage,
and there will be a separate fund specific webcast consisting of a Highland
Long/Short Equity Fund update. A notice will be sent once it has been posted to
the website, with specific instructions on where it can be located. To receive
this and future notifications, please select email subscription along the
navigation bar at www.highlandfunds.com, fill out the required fields, and
select "Save." For more information please call 877.665.1287.

Highland Credit Strategies Fund (NYSE: HCF) Update:Please note that there will
not be a third quarter webcast for Highland Credit Strategies Fund due to the
Fund being in a "quiet period" related to a registration statement recently
filed with the SEC.

About Highland Funds

Highland Funds is managed by Highland Capital Management, L.P. Based in Dallas,
Texas, with offices in New York, Singapore, and an affiliate in London, Highland
is an investment adviser registered with the SEC, specializing in credit and
alternative investment strategies.

Highland Funds consists of a number of distinct registered investment companies
falling into three types: open-end "mutual" funds; closed-end "interval" funds;
and traditional closed-end funds.

This press release may contain forward-looking statements describing future
plans and objectives. These forward-looking statements, as well as future oral
and written statements by the management of Highland Funds, are subject to
various risks and uncertainties, which could cause actual results and conditions
to differ materially from those projected, including the uncertainties
associated with the timing of transaction closings, changes in interest rates,
availability of transactions, the future operating results of our portfolio
companies, changes in regional, national, or international economic conditions
and their impact on the industries in which we invest, or changes in the
conditions of the industries in which we invest, and other factors enumerated in
our filings with the Securities and Exchange Commission ("SEC").

We may use words such as "anticipates," "believes," "expects," "intends,"
"will," "should," "may," "plans," "could," "estimates," "potential," "continue,"
"target," or the negative of these terms or other similar expressions to
identify forward-looking statements. Undue reliance should not be placed on such
forward-looking statements as such statements speak only as of the date on which
they are made. We do not undertake to update our forward-looking statements,
whether as a result of new information, future events or otherwise, unless
required by applicable law.

Investors should consider the investment objectives, risks, charges and expenses
of the Highland Funds carefully before investing. Please call 1.877.665.1287 or
visit www.highlandfunds.com for more information on the Funds. Please read the
prospectus carefully before you invest.

Securities may be offered through NexBank Securities, Inc., an affiliate of
Highland Capital Management, L.P. NexBank Securities, Inc. is a FINRA member
firm.

Highland Funds
Shareholder Services, 877-665-1287
hfinfo@hcmlp.com

Copyright Business Wire 2009