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Kayne Anderson Energy Total Return Fund, Inc. Announces Its Net Asset Value at August 31, 2008

September 2, 2008

Kayne Anderson Energy Total Return Fund, Inc. (the “Fund”) (NYSE: KYE) today announced its net asset value as of August 31, 2008.

As of close of business August 31, 2008, the Fund’s net assets were $966 million and its net asset value per share was $29.99 based on 32.2 million shares outstanding.

As of August 31, 2008, equity and fixed income investments were 88% and 12%, respectively, of the Fund’s long-term investments of $1.3 billion. Long-term investments were comprised of MLPs and MLP Affiliates (46%), U.S. and Canadian Royalty Trusts (23%), Marine Transportation (13%), Coal (6%) and Energy Debt (12%).

The Fund’s ten largest holdings by issuer at August 31, 2008 were:

                                   Units/Par ($)                Percent of                                       (in          Amount      Long-Term                                    thousands)   ($ millions)  Investments                                   ------------- ------------- ------------ 1.  Kinder Morgan Management, LLC     (MLP Affiliate)                       2,899         160.9         12.6% 2.  Plains All American Pipeline,     L.P. (Pipeline MLP)                   1,387          66.1          5.2% 3.  Enterprise Products Partners     L.P. (Pipeline MLP)                   1,591          46.8          3.7% 4.  Enbridge Energy Management,     L.L.C. (MLP Affiliate)                  857          43.3          3.4% 5.  Crescent Point Energy Trust     (Canadian Royalty Trust)              1,167          43.1          3.4% 6.  Enerplus Resources Fund     (Canadian Royalty Trust)                796          34.5          2.7% 7.  ARC Energy Trust     (Canadian Royalty Trust)              1,009          28.7          2.3% 8.  Fording Canadian Coal Trust     (Canadian Royalty Trust)                297          26.6          2.1% 9.  Navios Maritime Holdings, Inc.     (Marine Transportation)       $      25,250          24.1          1.9% 10. Penn West Energy Trust     (Canadian Royalty Trust)                792          23.2          1.8% 

The Fund is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940. The Fund’s investment objective is to obtain a high total return with an emphasis on current income by investing primarily in securities of companies engaged in the energy industry, principally including publicly-traded energy-related master limited partnerships and limited liability companies taxed as partnerships and their affiliates, energy-related U.S. and Canadian royalty trusts and income trusts and other companies that derive at least 50% of their revenues from operating assets used in, or providing energy-related services for, the exploration, development, production, gathering, transportation, processing, storing, refining, distribution, mining or marketing of natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains “forward-looking statements” as defined under the U.S. federal securities laws. Generally, the words “believe,”"expect,”"intend,”"estimate,”"anticipate,”"project,”"will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the Fund’s historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; energy industry risk; commodity pricing risk; leverage risk; valuation risk; non-diversification risk; interest rate risk; tax risk; and other risks discussed in the Fund’s filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund’s investment objectives will be attained.

 Contact: KA Fund Advisors, LLC Monique Vo 877-657-3863 http://www.kaynefunds.com/

SOURCE: Kayne Anderson Energy Total Return Fund, Inc.




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