OVERLAND PARK, Kan. - Dec. 21, 2007 - Tortoise Energy Infrastructure Corp. (NYSE: TYG) today announced that the company has priced the sale of 327,450 newly issued shares of its common stock. The shares are being sold to a limited number of institutional and accredited investors at yesterday's closing price of $31.87 per share. The company estimates that its net proceeds from this offering, after expenses, will be approximately $10.2 million. The company intends to use all of the net proceeds to retire a portion of its short-term debt outstanding under its unsecured credit facility. The company now has approximately 19 million common shares outstanding.
Stifel, Nicolaus & Company, Incorporated acted as the placement agent for this offering.
About Tortoise Energy Infrastructure Corp.
Tortoise Energy Infrastructure Corp. owns a portfolio of master limited partnership investments in the energy infrastructure sector. Tortoise Energy Infrastructure Corp.'s goal is to provide its stockholders a high level of total return with an emphasis on current dividends.
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 Nov. 30, 2007, the adviser had approximately $2.9 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 the 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