Cutwater Select Income Fund Declares Quarterly Dividend and Announces New Vice President, Treasurer and Chief Financial Officer

NEW YORK--()--Dividend Declaration

The Cutwater Select Income Fund (CSI) (the “Fund”) declared a dividend of $0.25 on June 17, 2015, payable on August 25, 2015, to shareholders of record at the close of business on July 24, 2015, with an ex-dividend date of July 22, 2015.

The dividend of $0.25 per share would equate to an annual dividend payment for the last four quarters of $1.045 per share.

Election of Vice President, Treasurer and Chief Financial Officer

Effective today, the Fund also announced the election of Thomas Stabile as the Vice President, Treasurer, and Chief Financial Officer of the Fund, replacing Joseph Sevely in such capacities. Mr. Stabile had acted as the Fund’s Assistant Treasurer since 2010, and has been employed by the Fund’s investment adviser since May 2005.

The Fund is a diversified closed-end management investment company whose investment objective is to seek a high rate of return, primarily from interest income and trading activity, from a portfolio principally consisting of debt securities. The Fund will also seek capital appreciation principally by purchasing debt securities at prices that the Adviser believes are below their intrinsic value. The Fund will also look to benefit from trading securities to optimize the risk adjusted yields in the Fund. Cutwater Investor Services Corp., the Fund’s investment adviser, provides fixed income management to a variety of institutional clients including corporations, governmental entities, employee benefit plans and registered investment companies.

A portion of a Fund's current distribution may include sources other than net investment income, including a return of capital. Investors should understand that a return of capital is not a distribution from income or gains of a Fund. As required under the 1940 Act, a notice with the estimated components of the distribution will be sent to shareholders at the time of payment if it does not consist solely of net investment income. Such notice will also be posted to the Fund’s website at www.cutwater.com/cutwater-select-income-fund-characteristics.aspx. The notice should not be used to prepare tax returns as the estimates indicated in the notice may differ from the ultimate federal income tax characterization of distributions. After the end of each calendar year, investors will be sent a Form 1099-DIV informing them how to report distributions received during that year for federal income tax purposes.

Statements in this press release that are not historical facts are forward-looking statements as defined by the United States securities laws. You should exercise caution in interpreting and relying on forward-looking statements because they are subject to uncertainties and other factors which are, in some cases, beyond the Fund’s control and could cause actual results to differ materially from those set forth in the forward-looking statements.

An investor should consider a Fund’s investment objectives, risks, charges and expenses carefully before investing.

Contacts

For Cutwater Select Income Fund
Gautam Khanna, 866-333-6685

Contacts

For Cutwater Select Income Fund
Gautam Khanna, 866-333-6685