The Zweig Fund, Inc. Discloses Sources of Distribution -- Section 19A Notice

NEW YORK, NY, Apr 06 (MARKET WIRE) --
The Board of Directors of The Zweig Fund, Inc. (NYSE: ZF) declared a
distribution of $0.096 per share to shareholders of record on April 8,
2010, payable April 26, 2010. The Fund has a Managed Distribution Plan to
pay 10 percent of the Fund's net asset value ("NAV") on an annualized
basis. The Board believes that regular, fixed cash payouts will enhance
shareholder value and serve the long-term interests of shareholders.

The following is a required Section 19A notice:

You should not draw any conclusions about the Fund's investment
performance from the amount of this distribution or from the terms of the
Fund's Managed Distribution Plan.

This notice discloses information on the sources of the distribution as
required by SEC Rule 19(a) of the Investment Company Act of 1940 and the
Fund's SEC Exemptive Order under Section 19(b) as follows:

Distribution Estimates April 2010 (QTD) Year-to-date (YTD)(1)
------------------- -------------------
Per Percentage Per Percentage
Share of Current Share of Current
(Sources) Amount Distribution Amount Distribution
------- ----------- ------- -----------
Net Investment Income $ 0.003 2.8% $ 0.003 2.8%
------- ----------- ------- -----------
Net Realized Short-Term Capital
Gains - 0.0% - 0.0%
------- ----------- ------- -----------
Net Realized Long-Term Capital
Gains - 0.0% - 0.0%
------- ----------- ------- -----------
Return of Capital (or other
Capital Source) 0.093 97.2% 0093 97.2%
------- ----------- ------- -----------
Total Distribution $ 0.096 100.0% $ 0.096 100.0%
------- ----------- ------- -----------

(1) YTD February 1, 2010 to January 10, 2011. (The distribution paid on
January 11, 2009 was reportable for tax on Form 1099 in 2009)

The Fund estimates that it has distributed more than its income and
net realized capital gains; therefore, a portion of your distribution may
be a return of capital. A return of capital may occur, for example, when
some or all of the money that you invested in the Fund is paid back to
you. A return of capital distribution does not necessarily reflect the
Fund's investment performance and should not be confused with "yield" or
"income."

The amounts and sources of distributions reported in this Notice are only
estimates and are not being provided for tax reporting purposes. The
actual amounts and sources of the amounts for tax reporting purposes will
depend upon the Fund's investment experience during the remainder of its
fiscal year and may be subject to changes based on tax regulations. The
Fund will send you a Form 1099-DIV for the calendar year that will tell
you how to report these distributions for federal income tax purposes.

Information regarding the Fund's performance and distribution rates is set
forth below. Please note that all performance figures are based on the
Fund's NAV and not the market price of the Fund's shares. Performance
figures are not meant to represent individual shareholder performance.

Average Annual Total Return on NAV for the
5-year period ended March 31, 2010 (2) 3.23%
Current Fiscal YTD Annualized Distribution Rate (3) 9.90%

YTD Cumulative Total Return on NAV (4) 2.80%
YTD Cumulative Distribution Rate (5) 2.47%

(2) Average Annual Total Return on NAV is the annual compound return for
the five year period. It reflects the change in the Fund's NAV and
reinvestment of all distributions.
(3) Current Fiscal YTD Annualized Distribution Rate is the Cumulative
Distribution Rate annualized as a percentage of the Fund's NAV as
of March 31, 2010.
(4) YTD Cumulative Total Return on NAV is the percentage change in the
Fund's NAV from January 1, 2010 to March 31, 2010, including
distributions paid and assuming reinvestment of those distributions.
(5) YTD Cumulative Distribution Rate is the dollar value of distributions
from January 1, 2010 to March 31, 2010 as a percentage of the Fund's
NAV as of March 31, 2010.

The Zweig Fund, Inc. is a closed-end fund with an investment
objective of increasing capital primarily through investment in equity
securities consistent with the preservation of capital and reduction of
risk as determined by the fund's investment adviser. The Zweig closed-end
funds are advised by Zweig Advisers LLC. For more information on the Fund,
please contact Shareholder Services at 800.272.2700 or visit us on the web
at www.virtus.com.

For Further Information:
Zweig Funds Shareholder Services
(800) 272-2700
Patricia Baronowski
The Altman Group
(212) 400-2604

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