SOURCE: Kayne Anderson Energy Total Return Fund, Inc.

May 01, 2008 18:40 ET

Kayne Anderson Energy Total Return Fund, Inc. Announces Its Net Asset Value at April 30, 2008

LOS ANGELES, CA--(Marketwire - May 1, 2008) - Kayne Anderson Energy Total Return Fund, Inc. (the "Fund") (NYSE: KYE) today announced its net asset value as of April 30, 2008.

As of close of business April 30, 2008, the Fund's net assets were $990 million and its net asset value per share was $30.74 based on 32.2 million shares outstanding.

As of April 30, 2008, equity and fixed income investments were 86% and 14%, respectively, of the Fund's long-term investments of $1.3 billion. Long-term investments were comprised of MLPs and MLP Affiliates (45%), Canadian Income Trusts (20%), Marine Energy Transportation (15%), Coal Companies (5%) and U.S. Royalty Trusts and Other Energy Companies (15%).

The Fund's ten largest holdings by issuer at April 30, 2008 were:

                                        Units                   Percent of
                                         (in         Amount     Long-Term
                                     thousands)   ($ millions) Investments
                                     ------------ ------------ -----------
1.  Kinder Morgan Management, LLC (MLP
    Affiliate)                              2,833        154.4        12.0%
2.  Plains All American Pipeline, L.P.
    (Pipeline MLP)                          1,387         67.0         5.2%
3.  Enterprise Products Partners L.P.
    (Pipeline MLP)                          1,573         49.1         3.8%
4.  Enbridge Energy Management, L.L.C.
    (MLP Affiliate)                           869         45.1         3.5%
5.  Crescent Point Energy Trust
    (Canadian Royalty Trust)                1,192         38.2         3.0%
6.  Enerplus Resources Fund (Canadian
    Royalty Trust)                            747         33.5         2.6%
7.  ARC Energy Trust (Canadian Royalty
    Trust)                                  1,094         28.3         2.2%
8.  Eagle Bulk Shipping Inc. (Marine
    Transportation)                           932         27.4         2.1%
9.  Penn West Energy Trust (Canadian
    Royalty Trust)                            843         25.4         2.0%
10. Bonavista Energy Trust (Canadian
    Royalty Trust)                            769         23.6         1.8%

The Fund is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940. The Fund's investment objective is to obtain a high total return with an emphasis on current income by investing primarily in securities of companies engaged in the energy industry, principally including publicly-traded energy-related master limited partnerships and limited liability companies taxed as partnerships and their affiliates, energy-related U.S. and Canadian royalty trusts and income trusts and other companies that derive at least 50% of their revenues from operating assets used in, or providing energy-related services for, the exploration, development, production, gathering, transportation, processing, storing, refining, distribution, mining or marketing of natural gas, natural gas liquids (including propane), crude oil, refined petroleum products or coal.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press release contains "forward-looking statements" as defined under the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to materially differ from the Fund's historical experience and its present expectations or projections indicated in any forward-looking statement. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; energy industry risk; commodity pricing risk; leverage risk; valuation risk; non-diversification risk; interest rate risk; tax risk; and other risks discussed in the Fund's filings with the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Fund undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the Fund's investment objectives will be attained.

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