OVERLAND PARK, Kan. - Sept. 4, 2007 - Tortoise Energy Infrastructure Corporation (NYSE: TYG) today announced that it has determined to exercise its option to designate the next succeeding dividend period for 1,400 Shares ($35 million in the aggregate) of the Company's outstanding Money Market Cumulative Preferred Shares, Series II (CUSIP: 89147L308) (the "Series II MMP Shares") as a special dividend period (the "Special Dividend Period"). The terms of the Special Dividend Period are set forth below.
The Special Dividend Period will commence on September 7, 2007 and will continue through and including September 6, 2010. The dividend for the Special Dividend Period will be set at the next regular auction for the Series II MMP Shares, which will occur on September 6, 2007. During the term of the Special Dividend Period, the Series II MMP Shares will not be subject to redemption at the option of the Company but will remain subject to the mandatory redemption provisions of the Company's charter. The dividend shall remain fixed for the duration of the Special Dividend Period. The Company will, not later than 3:00 p.m. New York City time on September 4, 2007, notify the Auction Agent of its intent to proceed with the designation of the Special Dividend Period.
About Tortoise Energy Infrastructure Corporation
Tortoise Energy Infrastructure owns a portfolio of master limited partnership investments in the energy infrastructure sector, primarily crude oil and refined petroleum products and natural gas and natural gas liquids pipelines. Tortoise Energy Infrastructure seeks to provide its stockholders a high level of total return with an emphasis on current dividends.
About Tortoise Capital Advisors, LLC
Tortoise Capital Advisors, LLC, the adviser to Tortoise Energy Infrastructure Corp., is a pioneer in the 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 July 31, 2007, the adviser had approximately $3.1 billion of energy investment assets under management.
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. Investors should consider the investment objective, risks, charges and expenses of the fund carefully before investing. For this and other important information, investors should refer to the prospectus supplement and prospectus, and read them carefully before investing.
Contact information: Tortoise Capital Advisors, LLC Pam Kearney, Investor Relations, (866) 362-9331, firstname.lastname@example.org