FFC and FLC Announce Regular Monthly Dividends and Special Year-End Dividends

The Boards of Directors of Flaherty & Crumrine/Claymore Preferred Securities Income Fund Incorporated (NYSE: FFC) and Flaherty & Crumrine/Claymore Total Return Fund Incorporated (NYSE: FLC) today declared the regular monthly dividend and declared a special year-end dividend to be paid in December.

The regular monthly dividend rate for FFC will continue to be $0.136 per share, which equates to an annual dividend of $1.632 per share. In addition, shareholders will receive a special year-end dividend from net investment income of $0.07 per share.

The regular monthly dividend rate for FLC will continue to be $0.1395 per share, which equates to an annual dividend of $1.674 per share. In addition, shareholders will receive a special year-end dividend from net investment income of $0.055 per share.

The December monthly dividend and the special year-end dividend will be paid on December 30, 2011 to holders of record of each fund’s common stock on December 22, 2011. The expected ex-dividend date is December 20, 2011. The tax breakdown of all 2011 distributions will be available early next year, but at this point the funds anticipate that all dividends paid in 2011, including the special year-end dividend, will be taxable as income and not capital gains.

FFC and FLC were organized in 2003 as closed-end, diversified investment companies. FFC invests primarily in preferred securities with an investment objective of high current income consistent with preservation of capital. FLC invests primarily in preferred and other income-producing securities with a primary investment objective of high current income and a secondary objective of capital appreciation. FFC and FLC are managed by Flaherty & Crumrine Incorporated, an independent investment adviser which was founded in 1983 to specialize in the management of portfolios of preferred and related securities. Flaherty & Crumrine also manages two other U.S. closed-end funds: Flaherty & Crumrine Preferred Income Fund (NYSE: PFD); and Flaherty & Crumrine Preferred Income Opportunity Fund (NYSE: PFO).

Website: www.fcclaymore.com

Contacts:

Press and Analyst Inquiries:
Flaherty & Crumrine Incorporated
Donald F. Crumrine, 626-795-7300
Pasadena, California
crumrine@pfdincome.com
or
Shareholder Inquiries:
Guggenheim Funds Distributors, Inc.
William Korver, 630-505-3700
Lisle, Illinois
William.Korver@guggenheimfunds.com
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