The Combined Boards of Directors of the Duff & Phelps Investment Management Co. Advised...

The Combined Boards of Directors of the Duff & Phelps Investment Management
Co. Advised Closed-End Mutual Funds Meet to Review and Monitor Developments
Relating to the Funds' Remarketed Preferred Stock and Auction Preferred Stock.

CHICAGO, April 8, 2008 /PRNewswire-FirstCall/ -- A special meeting of the
combined Boards of Directors of the Duff & Phelps Investment Management Co.
advised closed-end mutual funds was held on Tuesday, April 8, 2008. The
purpose of the meeting was to receive an update from the Funds' management and
legal counsel on developments relating to the Funds' remarketed preferred
stock and auction preferred stock that have occurred since the Boards' last
discussion of the issue at their February 2008 meetings. Management reported
to the Boards that the auction and remarketing failures that began in February
2008 continue to be related to general quality and liquidity concerns in the
credit markets, not to any problems with the creditworthiness of the Funds or
their preferred shares.
The Boards expressed concern about the frustration preferred shareholders
are experiencing because they are currently unable to obtain liquidity for
their shares through the auction and remarketing process. For this reason, the
Boards directed Fund management to continue its efforts to develop and
evaluate potential solutions that will be in the best interests of all of the
Funds' shareholders.
It is likely that auction and remarketing failures will continue for some
period and the Funds cannot determine at what point a resolution to the
liquidity crisis will occur. Given the short-term interest rate environment,
leverage remains beneficial to the Funds' common shareholders, and therefore
will likely be maintained in some form. The Funds have honored and intend to
continue to honor their obligations to preferred shareholders by paying them
the dividends to which they are entitled under the terms of their securities.
At the same time, the Funds, like other market participants, will continue to
seek solutions to the current liquidity crisis, working closely with
investment industry regulators and associations, commercial banks, and
investment banks.
The Funds and their Boards of Directors are committed to fulfilling their
obligations to both common and preferred shareholders.
DNP Select Income Fund Inc. is a closed-end diversified investment
management company. The Fund's primary investment objectives are current
income and long-term growth of income. The Fund seeks to achieve these
objectives by investing primarily in a diversified portfolio of equity and
fixed income securities of companies in the public utilities industry. For
more information, visit the Fund's website at http://www.dnpselectincome.com
or call the Fund at (800) 864-0629.
SOURCE DNP Select Income Fund Inc.

Joseph C. Curry, Jr., +1-502-588-8602, or Dianna P. Wengler, +1-502-588-8603,
or Timothy P. Riordan, +1-502-588-1786, all of DNP Select Income Fund Inc.