OVERLAND PARK, Kan. - May 12, 2008 -- The Board of Directors of Tortoise Energy Infrastructure Corp. (NYSE: TYG) today declared the company's second quarter 2008 distribution of $0.5575 per share, compared to $0.555 in the previous quarter and $0.545 in the same quarter of the prior year. The distribution will be paid on June 2, 2008 to stockholders of record on May 22, 2008. This represents a 0.45 percent increase over the prior quarter's distribution and a 2.3 percent increase over the same quarter of the prior year. A portion of this distribution is expected to be treated as return of capital for income tax purposes, although the ultimate determination will not be made until determination of our earnings and profits after our year-end. Based on current financial information, this distribution is estimated to consist of 100 percent return of capital for book purposes.
"Our estimated growth in distributions from MLPs over the next year and success in refinancing a large portion of our leverage provides us confidence in our ability to generate sustainable and increasing distributions to our stockholders," said Tortoise Energy Infrastructure Corp. Chief Financial Officer, Terry Matlack. "We will continue to manage for long-term DCF growth, and anticipate our progress toward refinancing auction rate securities with long-term leverage at reasonable costs will help us attain that goal."
About Tortoise Energy Infrastructure Corp.
Tortoise Energy Infrastructure Corp. owns a portfolio of master limited partnership investments in the energy infrastructure sector. Tortoise Energy Infrastructure Corp.'s goal is to provide its stockholders a high level of total return with an emphasis on current distributions.
About Tortoise Capital Advisors
Tortoise Capital Advisors, LLC is a pioneer in capital markets for master limited partnership (MLP) investment companies and a leader in closed-end funds and separately managed accounts focused on MLPs in the energy sector. As of April 30, 2008, the adviser had approximately $2.8 billion of assets under management. For more information, visit our Web site at www.tortoiseadvisors.com.
Safe Harbor Statement
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Contact information: Tortoise Capital Advisors, LLC Pam Kearney, Investor Relations, (866) 362-9331, firstname.lastname@example.org