The Cushing® MLP Total Return Fund Announces Closing of Public Offering of Common Shares

DALLAS, March 2, 2011 /PRNewswire/ -- The Cushing® MLP Total Return Fund (the "Fund") (NYSE: SRV) today announced the closing of a public offering of 6,900,000 of its common shares at a price of $10.00 per share. The offering amount included 900,000 common shares that the Fund's underwriters exercised to cover overallotments.  Net proceeds from the offering of approximately $66.2 million, before expenses, will be used to make additional portfolio investments in accordance with the Fund's investment objective and policies.

RBC Capital Markets, LLC and Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services, Inc. (NYSE Amex: LTS) acted as the representatives of the underwriters and the joint book-running managers of the offering.

The Cushing® MLP Total Return Fund is a non-diversified, closed-end management investment company. The Fund's investment objective is to obtain a high after-tax total return from a combination of capital appreciation and current income. The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets, plus any borrowings for investment purposes, in master limited partnership ("MLP") investments. There can be no assurance that the Fund's investment objective will be achieved.

The Fund is traded on the NYSE under the symbol "SRV." The Fund is managed by Cushing® MLP Asset Management, LP, an SEC-registered investment adviser headquartered in Dallas, Texas.

ABOUT CUSHING® MLP ASSET MANAGEMENT, LP

Cushing® MLP Asset Management, LP ("Cushing"), is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds, which invest primarily in securities of MLPs and other natural resource companies.  Cushing continues to expand its platform of MLP-related investment products, leveraging extensive industry contacts and unparalleled research depth to drive both passive and actively managed investment opportunities for individual and institutional investors.  Cushing is also the sponsor of The Cushing® 30 MLP Index and the Cushing® MLP High Income Index.  The Cushing® 30 MLP index is a fundamentally based index comprised of 30 equally weighted publicly traded energy infrastructure MLPs.  The Cushing® 30 MLP Index is calculated by Standard & Poor's and reported under the Bloomberg ticker "MLPX" and FactSet ticker "LPX-CME". The Cushing® MLP High Income Index tracks the performance of 30 publicly traded MLPs with an emphasis on current yield.  The Cushing® 30 MLP High Income Index is calculated by Standard & Poor's and reported on a real-time basis under the Bloomberg ticker "MLPY" and FactSet ticker "MLPH-CME". Cushing seeks to identify and exploit investment niches it believes are generally less understood and less followed by the broader investor community.

The Cushing® 30 MLP Index and the Cushing® MLP High Income Index are the exclusive property of Swank Capital, LLC, which has contracted with Standard & Poor's ("S&P") to maintain and calculate each Index.  Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC. "Calculated by S&P Custom Indices" and related stylized mark(s) are service marks of Standard & Poor's Financial Services LLC and have been licensed for use by Swank Capital, LLC.  S&P and its affiliates shall have no liability for any errors or omissions in calculating either Index.  

SOURCE The Cushing MLP Total Return Fund