SOURCE: Kayne Anderson Energy Total Return Fund, Inc.

March 04, 2008 09:57 ET

Kayne Anderson Energy Total Return Fund Announces Its Net Asset Value at February 29, 2008

LOS ANGELES, CA--(Marketwire - March 4, 2008) - Kayne Anderson Energy Total Return Fund, Inc. (the "Fund") (NYSE: KYE) today announced its net asset value at February 29, 2008.

At February 29, 2008, the Fund's net assets were $944 million and its net asset value per share was $29.31 based on 32.2 million shares outstanding.

As of February 29, 2008, equity and fixed income investments were 87% and 13%, respectively, of the Fund's long-term investments of $1.2 billion. Long-term investments were comprised of MLPs and MLP Affiliates (44%), Canadian Income Trusts (22%), Marine Energy Transportation (16%), Coal Companies (3%) and U.S. Royalty Trusts and Other Energy Companies (15%).

The Fund's ten largest holdings by issuer at February 29, 2008 were:

                                             Units      Amount      of
                                             (in         ($      Long-Term
                                           thousands) millions) Investments
                                           ---------- ---------- ---------
1.  Kinder Morgan Management, LLC (MLP
     Affiliate)                                 2,875      156.7      12.7%
2.  Plains All American Pipeline, L.P.
     (Pipeline MLP)                             1,387       66.2       5.4%
3.  Enterprise Products Partners L.P.
     (Pipeline MLP)                             1,573       48.7       4.0%
4.  Crescent Point Energy Trust (Canadian
     Royalty Trust)                             1,420       39.2       3.2%
5.  Enbridge Energy Management, L.L.C. (MLP
     Affiliate)                                   740       38.7       3.1%
6.  Enerplus Resources Fund (Canadian
     Royalty Trust)                               849       36.6       3.0%
7.  Penn West Energy Trust (Canadian
     Royalty Trust)                             1,075       30.3       2.5%
8.  ARC Energy Trust (Canadian Royalty
     Trust)                                     1,223       29.3       2.4%
9.  Quintana Maritime Limited (Marine
     Transportation)                            1,269       29.2       2.4%
10. Eagle Bulk Shipping Inc. (Marine
     Transportation)                            1,039       27.7       2.3%

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.