July 10, 2012 at 09:05 AM EDT
Fort Dearborn Income Securities Inc. Announces Portfolio Management Change

Fort Dearborn Income Securities, Inc. (NYSE: FDI) (the “Fund”)—a closed-end management investment company seeking a stable stream of current income consistent with external interest rate conditions and a total return over time that is above what shareholders could receive by investing individually in the investment grade and long-term maturity sectors of the bond market—today named Scott E. Dolan, John Dugenske, Craig G. Ellinger and Brian Fehrenbach as lead portfolio managers for the Fund.

These changes align with UBS Global Asset Management (Americas) Inc.’s (“UBS Global AM”), the Fund’s Advisor, decision to expand the Fund’s portfolio management structure to a team-based approach. As lead portfolio managers, Messrs. Dolan, Dugenske, Ellinger and Fehrenbach will be jointly and primarily responsible for the day-to-day management of the Fund’s portfolio, and for reviewing the overall composition of the portfolio to ensure its compliance with the Fund’s stated investment objective and strategy.

Michael Dow, previously the lead portfolio manager for the Fund, is taking on a new role within UBS Global AM’s fixed Income team, overseeing the expansion of the global sovereign research platform that will span developed and emerging markets, and which will be leveraged globally by UBS Global AM’s portfolio management teams.

Short biographies on each of the new lead portfolio managers follow.

Scott Dolan, Managing Director of UBS Global AM

Years of investment industry experience: 23

Mr. Dolan is a member of the Global Fixed Income Investment Committee. He is responsible for overseeing the overall strategy and portfolio management of UBS Global AM’s multi-sector and securitized debt portfolios. Mr. Dolan has been with UBS Global AM since 2008.

John Dugenske, CFA, Managing Director of UBS Global AM

Years of investment industry experience: 23

Mr. Dugenske is a member and the chairman of the Global Fixed Income Investment Committee. As Head of North American Fixed Income, he has overall responsibility across all fixed income investment capabilities at UBS Global AM. Mr. Dugenske has been with the firm since 2009.

Craig Ellinger, CFA, Managing Director of UBS Global AM

Years of investment industry experience: 21

Mr. Ellinger is a member of the Global Fixed Income Investment Committee. He is responsible for managing all aspects of UBS Global AM’s US investment grade and global high yield business. Mr. Ellinger joined the firm in 2000.

Brian Fehrenbach, CFA, Managing Director of UBS Global AM

Years of investment industry experience: 25

Mr. Fehrenbach is a member of the Global Fixed Income Investment Committee. He is responsible for overseeing the overall strategy and portfolio management of multi-sector funds and unconstrained strategies at UBS Global AM. Mr. Fehrenbach has been with the firm since 2006.

Contacts:

UBS Global Asset Management
Closed-End Funds Desk, 888-793-8637
ubs.com
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