Cutwater Asset Management, a fixed income specialist, and the Rivus Bond Fund Board of Trustees are pleased to announce that the Rivus Bond Fund (BDF) will be renamed Cutwater Select Income Fund (CSI). The fund will commence trading under the new name and ticker symbol “CSI” on December 9, 2011. The Rivus Bond Fund CUSIP 769667 10 6 will be replaced with Cutwater Select Income Fund CUSIP 232229 10 4. Shareholders are advised to take note of this change, but no action is required with respect to this renaming. This is a change of name only. Cutwater Investor Services Corp. will remain investment adviser to the Fund and there will be no changes to the Fund’s investment objective, operations or servicing arrangements at this time. Established in 1971, the fund is a diversified, closed-end management investment company with the objective to seek a high rate of return, primarily from interest income and trading activity, from a portfolio principally consisting of debt securities. Old Symbol: BDF Old CUSIP: 769667 10 6 New Symbol: CSI New CUSIP: 232229 10 4 About Cutwater Cutwater Asset Management is a client-focused and solutions-based investment advisor focused exclusively on fixed income investments. With over $38 billion in assets under management, Cutwater Asset Management is one of the largest institutional fixed-income investment managers in the world. Cutwater's model combines world-class investment expertise and risk management capabilities with exceptional client service, in-depth consultation, and extensive interaction between clients and the investment team. Our investment philosophy is focused on delivering consistent and superior risk-adjusted returns by taking a long-term view of the market and applying a counter-cyclical and forward-looking approach to capital allocation. For more information, please visit our website at www.cutwater.com. Disclaimer The information contained in this press release is intended solely for journalists and should not be relied upon by investors or any other persons to make financial decisions. All of the views expressed in this press release accurately reflect the personal views of the individual named. While opinions stated are honestly held, they are not guarantees and should not be relied on. The information or opinions provided should not be taken as specific advice on the merits of any investment decision. Actual returns are reduced by investment management fees. Investment involves risk, including the possible loss of principal. No assurance can be given that the performance objectives of a given strategy will be achieved. Past performance is not a guarantee of future results.