News Coverage of Highland's Spinoff of Its Retail Business

Several publications, including Investment News, Dallas Business Journal, Dallas Morning News, Bloomberg, and Mutual Fund Wire, cover the announcement that Highland Funds Asset Management, L.P., which includes 20 mutual funds and closed-end funds, it will spin-off from Highland Capital Management, L.P. and form Pyxis Capital, effective January 9, 2012.

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Investment News

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Dallas Business Journal

Dallas Morning News

Mutual Fund Wire

The information contained herein does not constitute a distribution, an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction in which such distribution or offer is not authorized. In particular, the information herein is not for distribution and does not constitute an offer to sell or the solicitation of any offer to buy any securities in the United States (“US”) to or for the benefit of any US person (being residents of the US or partnerships or corporations organized under the laws of the US).

Assets under management figures are based on fee-earning AUM for Highland Capital Management and its affiliates, rounded to the nearest $100 million, and as of 12/31/2011

* NOT FDIC INSURED * May lose value * No bank guarantee. * Past performance is not indicative of future results. *