Energy Income and Growth Fund (the “Fund ”) (NYSE Amex: FEN) announced today the pricing of a public offering of common shares. The Fund agreed to sell a total of 1,700,000 common shares at a price to the public of $24.20 per share (exclusive of 255,000 common shares that the underwriters may purchase pursuant to a 30-day option to cover over-allotments). Net proceeds from the offering of approximately $39.3 million will be used to make additional portfolio investments that are consistent with the Fund’s investment objective and policies, and for general corporate purposes. The offering is scheduled to close on May 5, 2010. RBC Capital Markets is acting as sole book-running manager for the offering. BB&T Capital Markets, a division of Scott & Stringfellow, LLC, Janney Montgomery Scott LLC, Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (AMEX: LTS), Maxim Group LLC, Oppenheimer & Co. Inc., Wedbush Securities Inc. and Wunderlich Securities, Inc. are acting as co-managing underwriters on the offering. The offering is made pursuant to an existing shelf registration statement on Form N-2 previously filed with the Securities and Exchange Commission. The offering of these securities will be made only by means of a prospectus. Interested persons, including existing shareholders of the Fund, may obtain a copy of the prospectus supplement relating to the offering from the following address: RBC Capital Markets Corporation Attn: Equity Syndicate Department Three World Financial Center 200 Vesey Street, 8th Floor New York, New York 10281 Telephone: (212) 428-6670 Fax: (212) 428-6260 Investors may also obtain these documents free of charge from the Securities and Exchange Commission’s website at www.sec.gov. An investor should read the Fund’s prospectus supplement carefully before investing. The prospectus supplement contains important information about the Fund and its investment objective and policies, risks, charges and expenses.