Guggenheim Investments Announces Appointment Of A New Trustee And Election Of Chief Executive Officer For Certain Closed-End And Exchange Traded Funds

The exchange traded funds and certain closed-end funds advised by Guggenheim Funds Investments Advisors, LLC (together the “Funds”) today announce the appointment of Mr. Donald C. Cacciapaglia as a Trustee of each of the Funds. The Funds also announce the election, by the Funds’ Boards of Trustees, of Mr. Donald C. Cacciapaglia as the Chief Executive Officer. Mr. Cacciapaglia succeeds Mr. Kevin M. Robinson as Chief Executive Officer of the Funds. Mr. Robinson will remain the Chief Legal Officer of the Funds.

Mr. Donald C. Cacciapaglia

Mr. Cacciapaglia is Senior Managing Director of Guggenheim Investments, Guggenheim’s investment management business, responsible for Board relationships. He joined Guggenheim in February 2010 as President of the investment management businesses of Guggenheim Partners and Chief Operating Officer of Guggenheim Partners Asset Management, LLC. Prior to that he was Chairman and CEO of Channel Capital Group Inc. and its subsidiary broker-dealer Channel Capital Group LLC, a Guggenheim affiliated company. From 1996 until 2002 when he joined Channel Capital Group, Mr. Cacciapaglia held the position of Managing Director and Chief Operating Officer of the Investment Banking Group at PaineWebber. Additionally, in 1998, he started PaineWebber’s Private Equity Group and assumed responsibility for the coverage of Leveraged Buyout firms and the Investment Bank’s Business Development Group. Before that, Mr. Cacciapaglia was Chief Operating Officer of the Short and Intermediate Trading Group at CS First Boston (1995-1996). From 1977 to 1995, he held numerous positions at Merrill Lynch & Co., including Chief Operating Officer and Senior Managing Director of Investment Banking, Senior Managing Director of Global Fixed Income Research and Analytics and Managing Director of the Western Institutional Region for sales and trading in San Francisco. Mr. Cacciapaglia was a Senior Analyst with the Federal Reserve Bank of New York from 1973 -1977.

In addition to his position with Guggenheim Investments, Don is President, CEO and Trustee of Rydex Dynamic Funds, Rydex ETF Trust, Rydex Series Funds and Rydex Variable Trust from 2012 to present. He is President of SBL Fund, Security Equity Fund, Security Income Fund, Security Large Cap Value Fund and Security Mid Cap Growth Fund (the “Security Funds”). He will also become a director of the Security Funds, effective August 23, 2012.

Mr. Cacciapaglia is also President and CEO of Guggenheim Funds Distributors, LLC, a FINRA registered broker-dealer, and President and CEO of Guggenheim Funds Investment Advisors, LLC, an SEC registered investment adviser.

Mr. Cacciapaglia is also an Independent Board Member and Audit Committee for Equitrust Life Insurance Company, Guggenheim Life and Annuity Company, and Paragon Life Insurance Company of Indiana.

Interim Chief Compliance Officer

The Funds also announce the election, by the Funds’ Boards of Trustees, of Ms. Ann Edgeworth as Interim Chief Compliance Officer. Ms. Edgeworth currently serves as a Director with Foreside Compliance Services, LLC. In addition to her service to the Guggenheim Funds, Ms. Edgeworth serves as the Chief Compliance Officer for one other investment company that offers exchange traded products. Prior to joining Foreside in 2011, Ms. Edgeworth was a Vice President at State Street from 2007-2011 where she performed a comparable role in the firm’s Compliance Advisory Services group. Prior to State Street, Ms. Edgeworth was a Director at Investors Bank & Trust from 2004-2007.

The Funds for which these changes are applicable include all exchange traded funds in the 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:
FMO     Fiduciary/Claymore MLP Opportunity Fund
GBAB Guggenheim Build America Bonds Managed Duration Trust
GEQ Guggenheim Equal Weight Enhanced Equity Income Fund
GGE Guggenheim Enhanced Equity Strategy Fund
GOF Guggenheim Strategic Opportunities Fund
GPM Guggenheim Enhanced Equity Income Fund

About Guggenheim Investments

Guggenheim Investments represents the investment management division of Guggenheim Partners, LLC (“Guggenheim”), which consists of investment managers with approximately $130 billion in combined total assets*. Collectively, Guggenheim Investments has a long, distinguished history of serving institutional investors, ultra-high-net-worth individuals, family offices and financial intermediaries. Guggenheim Investments offers clients a wide range of differentiated capabilities built on a proven commitment to investment excellence. Guggenheim Investments has offices in Chicago, New York City and Santa Monica, along with a global network of offices throughout the United States, Europe, and Asia.

Guggenheim Investments is comprised of several investment management entities within Guggenheim, which includes Guggenheim Funds Distributors, Inc. and Guggenheim Funds Investment Advisors, LLC.

*Asset figure is based upon the best available information as of March 31, 2012 and consists of assets under management and serviced assets of the various asset managers comprising Guggenheim Investments. The total asset figure includes $10.7B of leverage for assets under management and $0.8B of leverage for serviced assets. Values from some funds are based upon prior periods.

This information does not represent an offer to sell securities of the Funds and it is not soliciting an offer to buy securities of the Funds. There can be no assurance that the Funds will achieve their investment objectives. The net asset value of the Funds will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value. Past performance is not indicative of future performance. An investment in closed-end funds is subject to investment risk, including the possible loss of the entire amount that you invest. Some general risks and considerations associated with investing in a closed-end fund include: Investment and Market Risk; Lower Grade Securities Risk; Equity Securities Risk; Foreign Securities Risk; Interest Rate Risk; Illiquidity Risk; Derivative Risk; Management Risk; Anti-Takeover Provisions; Market Disruption Risk and Leverage Risk. See www.guggenheimfunds.com/cef for a detailed discussion of closed-end fund-specific risks.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Funds carefully before they invest. To obtain a prospectus, which contains this and other information, visit guggenheimfunds.com or contact your sales team at Guggenheim Funds Distributors, LLC 2455 Corporate West Drive, Lisle, IL 60532.

Read a fund’s prospectus and summary prospectus (if available) carefully before investing. It contains a fund’s investment objectives, risks, charges, expenses and other information, which should be considered carefully before investing. Obtain a Guggenheim Funds prospectus and summary prospectus (if available) at guggenheimfunds.com or call 800.345.7999.

NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE

Member FINRA/SIPC (5/12)

Copyright Business Wire 2010