FOR IMMEDIATE RELEASE
OVERLAND PARK, Kan. Oct. 30, 2007 Tortoise Capital Advisors, LLC, the adviser of Tortoise Energy Infrastructure Corp., Tortoise Energy Capital Corp. and Tortoise North American Energy Corp. (NYSE: TYG, TYY and TYN, respectively), announced today the release of third quarter 2007 stockholders' reports for each of these companies. The reports are available on the companies' Web site at www.tortoiseadvisors.com.
Auction Rate Information Update
On Oct. 26, 2007, Tortoise Energy Infrastructure redeemed its Series E Auction Rate Notes totaling $70 million funded with proceeds from its bank revolver and normal portfolio turnover.
The Adviser also updated its auction rate information through Oct. 30, 2007, on its Web site. That information is also set forth below. Until further notice, the Adviser will continue to update this information on its Web site on the 1st and 15th of each month.
Closed-end funds, unlike open-end funds, are not continuously offered. TYG and TYY however, each have an effective shelf registration statement pursuant to which it may offer, from time to time, its common stock, preferred stock or debt securities. After their initial offering, common shares are sold on the NYSE. You should consider the investment objective, risks, charges and expenses of the funds carefully before investing. For this and other important information, please refer to each fund's most recent prospectus, or as applicable, its most recent prospectus supplement and its accompanying prospectus, and read it carefully before investing. For additional information call Tortoise Capital Advisors, L.L.C. at (866) 362-9331.
About Tortoise Capital Advisors
Tortoise Capital Advisors, LLC is a pioneer in capital markets for master limited partnership (MLP) investment companies and a leader in closed-end funds and separately managed accounts focused on MLPs in the energy sector. As of Sept. 30, 2007, the adviser had approximately $2.8 billion of assets under management. For more information, visit our Web site at www.tortoiseadvisors.com.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Tortoise Capital Advisors, LLC
Pam Kearney, Investor Relations, (866) 362-9331, firstname.lastname@example.org