The fund's Board of Trustees and investment adviser analyzed options to enhance shareholder value and potentially reduce the discount between the market price of the fund's common shares and their net asset value per share (NAV). The investment adviser believes the extension of the share repurchase program will continue to allow the fund to purchase its shares at a discount to NAV, which will increase the NAV and thereby benefit remaining shareholders. The Board of Trustees will monitor the program and will continue to consider strategic options to enhance shareholder value over the long-term.There is no assurance that the fund will purchase shares at any specific discount levels or in any specific amounts. The fund's repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. There is no assurance that the market price of the fund's shares, either absolutely or relative to its NAV, will increase as a result of any share repurchases. Federated Investors, Inc. (NYSE: FII) is one of the largest investment managers in the United States, managing $379.8 billion in assets as of Dec 31, 2012. With 137 funds, as well as a variety of separately managed account options, Federated provides comprehensive investment management worldwide to approximately 4,700 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. For more information, visit FederatedInvestors.com. Certain statements made in this press release are forward-looking statements. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements due to numerous factors. These include, but are not limited to: market developments; legal and regulatory developments; and other additional risks and uncertainties. As a result, neither the company nor any other person assumes responsibility for the accuracy and completeness of such statements in the future.