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Kayne Anderson Energy Total Return Fund Announces Its Net Asset Value at October 31, 2005

Posted on: Tuesday, 1 November 2005, 18:00 CST

Kayne Anderson Energy Total Return Fund, Inc. (the "Fund") (NYSE:KYE), today announced its net asset value at October 31, 2005.

At October 31, 2005, the Fund's net assets were $759.8 million and its net asset value per share was $23.59 based on 32.2 million shares outstanding. At this time, the Fund has invested all of the proceeds from its initial public offering. Equity investments were 90% of the Fund's total long-term investments as of October 31, 2005. These investments were comprised of MLPs and MLP affiliates (46%), Canadian Royalty Trusts (26%), Marine Energy Transportation (11%), Coal Companies (4%) and U.S. Royalty Trusts and Other Energy Companies (3%). Fixed income investments were 10% of the Fund's total long-term investments as of October 31, 2005. The Fund's common stock closed on the NYSE on October 31, 2005 at $22.64 per share. At October 31, 2005, the Fund's total assets were $793.7 million.

Shares began trading on June 28, 2005 on the New York Stock Exchange with an initial net asset value of $23.84.

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.

This press release does 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.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains statements, estimates or projections that may constitute "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 differ from the company's historical experience and its present expectations or projections. 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. There is no assurance that the Fund's investment objectives will be attained.

Source: Business Wire

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