The exchange-traded funds advised by Guggenheim Funds Investment Advisors, LLC and certain closed-end funds advised by Guggenheim Funds Investment Advisors, LLC or serviced by Guggenheim Funds Distributors, Inc. (each a “Fund” and together the “Funds”) announce the election by the respective boards of trustees of the Funds of Mr. Kevin M. Robinson as the Chief Executive Officer of each Fund and Mr. Bruce Albelda as the Interim Chief Financial Officer, Interim Chief Accounting Officer and Interim Treasurer of each Fund. Mr. Robinson succeeds Mr. J. Thomas Futrell, who previously served as Chief Executive Officer of each Fund, and Mr. Albelda succeeds Mr. Steven M. Hill, who previously served as Chief Financial Officer, Chief Accounting Officer and Treasurer of each Fund.

Mr. Robinson is Senior Managing Director, General Counsel and Corporate Secretary of Guggenheim Funds Services Group, Inc. and oversees the firm's legal, compliance and governance efforts. Prior to joining Guggenheim Funds in 2007, he was most recently at NYSE Euronext, Inc., from 2000 to 2007, where he served as Associate General Counsel for its Corporate Practice Group. He previously worked at ABN Amro Inc., where he was responsible for corporate and regulatory matters, and he served as Senior Counsel in the Enforcement Division of the U.S. Securities and Exchange Commission. Mr. Robinson earned a J.D. from the University of Iowa College of Law, and a B.A. from Coe College. He is a member of the American Bar Association, the American Corporate Counsel Association and the Society of Corporate Secretaries and Governance Professionals. Mr. Robinson has served, and will continue to serve, as Chief Legal Officer of the Funds. He also serves as a Trustee on MZF.

Mr. Albelda is Senior Managing Director and Chief Financial Officer of Guggenheim Funds Services Group, Inc. and Claymore Investments, Inc. and oversees all aspects of the firm’s finances. Prior to joining Guggenheim Funds in 2007, he was most recently a Consultant for Concentric Equity Partners. He previously worked as Chief Financial Officer for Cantata Technology from 2003 to 2006 as well as Chief Financial Officer for Airslide Systems. from 2001 to 2003. He earned an M.B.A. in Finance from the Wharton School of Business and graduated Cum Laude from Williams College with a B.A. in Economics. Mr. Albelda is Series 27 licensed with FINRA.

The Funds include all exchange-traded funds in Claymore Exchange-Traded Fund Trust and Claymore Exchange-Traded Fund Trust 2 and the following closed-end funds advised by Guggenheim Funds Investment Advisors, LLC or serviced by Guggenheim Funds Distributors, Inc.: