PPR - $.0370 October Dividend

ING Prime Rate Trust (NYSE: PPR), a diversified closed-end management investment company listed on the New York Stock Exchange, declared 3.70 cents per share monthly dividend on October 31, 2012 for the 31 days of October, payable on November 23, 2012 to shareholders of record on November 13, 2012. This represents the 294th consecutive monthly dividend since the Trust’s inception in May 1988.

The following are annualized distribution rate calculations based on the declared dividend for the month, Net Asset Value (“NAV”) at month-end and the month-end NYSE composite closing price (“Market”).

Annualized Period-end Distribution Rates			DIVIDEND				NAV				MARKET
October 31, 2012			$	.0370			7.34	%			7.10	%
September 30, 2012			$	.0360			7.38	%			7.10	%
August 31, 2012			$	.0360			7.20	%			7.12	%
July 31, 2012			$	.0350			7.09	%			7.16	%
June 30, 2012			$	.0350			7.39	%			7.40	%
May 31, 2012			$	.0345			7.06	%			7.38	%
April 30, 2012			$	.0330			6.87	%			7.00	%
March 31, 2012			$	.0330			6.68	%			6.84	%
February 29, 2012			$	.0300			6.54	%			6.87	%
January 31, 2012			$	.0300			6.14	%			6.46	%
December 31, 2011			$	.0290			6.11	%			6.70	%
November 30, 2011			$	.0280			6.08	%			6.63	%

ING Prime Rate Trust was the first Fund to invest in a portfolio of floating rate senior bank loans. The Trust seeks to provide as high a level of current income as is consistent with the preservation of capital.

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