Preferred Shares Update: DNP Select Income Fund Inc. and Duff & Phelps Utility and Corporate Bond Trust Inc.

DNP Select Income Fund Inc. DNP and Duff & Phelps Utility and Corporate Bond Trust Inc. DUC, two closed-end registered investment companies advised by Duff & Phelps Investment Management, have provided an update on their efforts to obtain alternative sources of financial leverage that would enable them to provide additional liquidity to holders of preferred shares in light of the persistent failures in the auction markets. Because the Adviser and the board of directors of the funds are committed to serving the best interests of both common and preferred shareholders, they continue to seek ways to provide liquidity to preferred shareholders without materially disadvantaging common shareholders and their ability to benefit from leverage.