Madison Strategic Sector Premium Fund Corrects Announcement of Voting Results From 2016 Annual Shareholder Meeting

MADISON, WI--(Marketwired - September 23, 2016) - Madison Strategic Sector Premium Fund (NYSE: MSP) (the "Fund") announced a correction to the voting results of its 2016 annual shareholder meeting held on September 8, 2016 that were previously reported on September 13, 2016.

All of the Fund's incumbent trustees standing for election were re-elected, as previously reported.

With respect to the shareholder proposal requesting that the Board of Trustees of the Fund authorize a self-tender offer for all outstanding common shares of the Fund, of the Fund's total outstanding shares as of the record date, 44.618% voted on the shareholder proposal. Of the 44.618% of shares voting, 53.265% (or 23.766% of total outstanding shares) voted in favor of the proposal and 46.735% (or 20.852% of total outstanding shares) voted against or abstained. Broker non-votes were incorrectly calculated as votes against the proposal in the original tabulation and announcement, and should not have had an effect on the vote. The Fund's Board of Trustees will consider the results of the vote on the shareholder proposal at its next quarterly meeting.

About Madison Asset Management, LLC

The Fund provides additional information on its website at www.madisonfunds.com. Madison Asset Management, LLC (Madison), a subsidiary of Madison Investment Holdings, Inc., is the Fund's investment adviser. Its affiliates include Madison Investment Advisors, LLC, with offices in Madison, Wisconsin and Scottsdale, Arizona; NorthRoad Capital Management LLC, located in New York, New York and Hansberger Growth Investors L.P., Toronto, Canada.

Availability of Fund Updates

Madison Asset Management updates certain other data for the Fund on its website in the "Closed-end Funds" section of www.madisonfunds.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated data and the release of other material information about the Fund. This reference to Madison Asset Management's website is intended to allow investors public access to information regarding the Fund and does not, and is not intended to, incorporate Madison Asset Management's or Madison Funds' website in this release.

Annual and Semi-Annual Reports and other regulatory reports of the Fund filed with the Securities and Exchange Commission ("SEC") are accessible on the SEC's website at www.sec.gov and on Madison Asset Management's website at www.madisonfunds.com, and may discuss these or other factors that affect the Fund. The information contained on Madison Asset Management's website is not a part of this press release.