Tortoise Power And Energy Infrastructure Fund, Inc. Provides Unaudited Balance Sheet Information And Asset Coverage Ratio Update As Of Sept. 30, 2012

Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) today announced that as of Sept. 30, 2012, the company’s unaudited total assets were approximately $225.4 million and its unaudited net asset value was $187.2 million, or $26.94 per share.

As of Sept. 30, 2012, the company was in compliance with its asset coverage ratio under the Investment Company Act of 1940 (the 1940 Act) and basic maintenance covenants. The company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 614 percent. For more information on calculation of coverage ratios, please refer to the company’s most recent applicable prospectus.

Set forth below is a summary of the company’s unaudited balance sheet at Sept. 30, 2012, and a summary of its top 10 holdings.

Unaudited Balance Sheet
  (in Millions)   Per Share
Investments $ 222.9 $ 32.06
Cash and Cash Equivalents 0.3 0.04
Other Assets   2.2   0.32
Total Assets   225.4   32.42
 
Short-Term Borrowings 16.4 2.36
Senior Notes   20.0   2.87
Total Leverage   36.4   5.23
 
Other Liabilities   1.8   0.25
Net Assets $ 187.2 $ 26.94
 

6.95 million common shares currently outstanding.
 

Top 10 Holdings (as of Sept. 30, 2012)

Name
 

MarketValue (in Millions)
 

% ofInvestment Securities (1)
Kinder Morgan Management, L.L.C. (equity) $ 17.4 7.8 %
Enbridge Energy Management, L.L.C. (equity) 16.0 7.2 %
ONEOK Partners, L.P. (equity) 7.0 3.1 %
Enterprise Products Partners, L.P. (equity) 6.8 3.1 %
CMS Energy Corp. (fixed income) 6.7 3.0 %
NRG Energy, Inc. (fixed income) 6.5 2.9 %
DCP Midstream LLC (fixed income) 6.4 2.9 %
TransCanada Pipelines Limited (fixed income) 6.4 2.9 %
Midcontinent Express Pipeline LLC (fixed income) 6.4 2.9 %
PPL Capital Funding, Inc. (fixed income)   6.2 2.8 %
Total $ 85.8 38.6 %
 

(1) Percent of Investments and Cash Equivalents.

About Tortoise Power and Energy Infrastructure Fund, Inc.

Tortoise Power and Energy Infrastructure Fund, Inc. (TPZ) invests in a portfolio of fixed income and equity securities issued by power and energy infrastructure companies. TPZ’s goal is to provide stockholders a high level of current income, with a secondary objective of capital appreciation.

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