TYW and GPM Announce Results and Adjournments of Annual Meetings of Shareholders

LISLE, Ill.--(BUSINESS WIRE)--Today, TS&W / Claymore Tax-Advantaged Balanced Fund (“TYW”) and Guggenheim Enhanced Equity Income Fund (formerly, Old Mutual/Claymore Long-Short Fund) (“GPM”) (together, the “Funds”), announced the results and adjournments of the annual meetings of shareholders of the Funds held on Monday, July 19, 2010.

TS&W / Claymore Tax-Advantaged Balanced Fund

At the TYW annual meeting of shareholders, a quorum was present with respect to the Preferred Shares as a separate class and the proposal to elect a Class III Trustee, by holders of Preferred Shares voting as a separate class, was voted on. Neither nominee for election as a Class III Trustee by holders of Preferred Shares voting as a separate class received a majority of the votes of the Preferred Shares present necessary to be elected. As a result, the term of Mr. Ronald E. Toupin, Jr. will continue until his successor is elected. Mr. Toupin is expected to stand for election again at TYW’s 2011 annual meeting of shareholders.

A quorum of Common Shares and Preferred Shares, together as a single class, was not present at the Annual Meeting, either in person or by proxy. As a result, TYW was unable to conduct business with respect to those matters to be voted on by holders of Common Shares and Preferred Shares, voting together as a single class. Therefore, the TYW annual meeting was adjourned in order to solicit additional votes and is scheduled to reconvene on August 9, 2010 at 12:00 p.m. CDT at 2455 Corporate West Drive, Lisle, IL 60532.

Guggenheim Enhanced Equity Income Fund

At the GPM annual meeting of shareholders, each of the Board’s nominees for election as Class II Trustees, Mr. Steven D. Cosler and Mr. Robert M. Hamje, were elected to serve as Class II Trustees until GPM’s 2013 annual meeting of shareholders or until their respective successors shall have been elected and qualified. The proposal to approve a new investment sub-advisory agreement among GPM, Claymore Advisors, LLC and Guggenheim Partners Asset Management, LLC was deferred in order to solicit additional votes. Therefore, the GPM annual meeting was adjourned and is scheduled to reconvene on August 9, 2010 at 11:30 a.m. CDT at 2455 Corporate West Drive, Lisle, IL 60532.

Additional Information

SMC Fixed Income Management, LP serves as an Investment Sub-Adviser to TYW and is responsible for the day-to-day management of the municipal securities portion of TYW. SMC uses both bottom-up and top-down analysis in constructing portfolios. As of March 31, 2010, SMC Fixed Income Management, LP had approximately $1.1 billion of municipal assets under management and advisement, including a closed-end fund, separately managed accounts and various Berkshire Hathaway insured unit investment trusts.

Thompson, Siegel & Walmsley LLC (“TS&W”) serves as an Investment Sub-Adviser to TYW and is responsible for the day-to-day management of the equity and income securities portion of TYW. TS&W was founded in 1969 and provides investment management services to corporations, pension and profit-sharing plans, 401(k) and thrift plans, trusts, estates and other institutions and individuals. As of March 31, 2010, TS&W had approximately $7.9 billion in assets under management.

Guggenheim Partners Asset Management (“GPAM”) serves as interim Investment Sub-Adviser to GPM. GPAM is an investment manager specializing in innovative investment strategies that aim to add alpha relative to benchmarks in both up and down markets. GPAM's investment philosophy is predicated upon the belief that thorough research and independent thought are rewarded with performance that has the potential to outperform benchmark indexes with both lower volatility and lower correlation of returns over time as compared to such benchmark indexes. GPAM manages more than $50 billion in investments for foundations, insurance companies and other institutions.

Claymore Advisors, LLC, an affiliate of Claymore Securities, Inc., serves as the Funds’ Investment Adviser. Claymore Securities, Inc. is a privately-held financial services company offering unique investment solutions for financial advisors and their valued clients. Claymore entities have provided supervision, management or servicing on approximately $15.3 billion in assets, as of June 30, 2010. Claymore currently offers closed-end funds, unit investment trusts and exchange-traded funds. Registered investment products are sold by prospectus only and investors should read the prospectus carefully before investing. For more information regarding the Funds, please visit www.claymore.com/cef.

This information does not represent an offer to sell securities of the Funds and it is not soliciting an offer to buy securities of the Funds. An investment in any investment product is subject to certain risks and other considerations, including the possible loss of the entire principal amount you invest. There can be no assurance that any investment product will achieve its investment objectives. An investment in non-U.S. issuers involves risks that are in addition to the risks associated with domestic issuers; and therefore, may be subject to additional currency, political, economic, and market risks. The net asset value of the Fund will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value. See www.claymore.com for a detailed discussion of fund-specific risks.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Fund carefully before they invest. For this and more information, please contact a securities representative or Claymore Securities, Inc., 2455 Corporate West Drive, Lisle, Illinois 60532, 800-345-7999.

Member FINRA/SIPC (7/10)

NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE