Tortoise MLP Fund, Inc. Announces Expected Increase in Initial Distribution

Tortoise MLP Fund, Inc. NTG today announced that it has fully invested its initial public offering proceeds ahead of schedule and expects to increase its initial distribution payable on Nov. 30, 2010 from the prior declaration of $0.21 per share to a distribution of not less than $0.36 per share. This increased fourth quarter distribution is expected to be declared on or before Nov. 8, 2010, and the final determination will be based on the earned distributable cash flow as a result of continued investment activity and fund expenses. A distribution of $0.36 per share does not reflect full investment of the anticipated leverage proceeds and represents an annualized yield of approximately 5.76 percent on the $25 public offering price. The fund reiterates its expectation of paying a first quarter 2011 distribution of not less than a 6.5 percent annualized yield on a $25.00 public offering price ($0.40625 per quarter), following full investment of the anticipated leverage proceeds.