The Cushing® Royalty & Income Fund Announces Quarterly Distribution

DALLAS, July 27, 2012 /PRNewswire/ -- The Cushing^® Royalty & Income Fund (NYSE: SRF) (the "Fund") declared a quarterly distribution of $0.50 per common share for the fiscal quarter ending August 31, 2012. The distributions will be payable on September 10, 2012 to shareholders of record on August 29, 2012. The ex-date for the distributions is August 27, 2012.  With the payment of this quarter's distributions, SRF shareholders will have realized aggregate distributions of $1.00 per share since inception.

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It is anticipated but not certain that a portion of this distribution will be treated as a return of capital. The final determination of such amount will be made in early 2013, after the end of the calendar year when the Fund determines its earnings and profits for the year. The final tax status of the distribution may differ substantially from this preliminary information.

The Cushing^® Royalty & Income Fund is a non-diversified, closed-end management investment company.  The Fund's investment objective is to seek a high total return with an emphasis on current income.  The Fund seeks to provide shareholders with a tax-efficient vehicle to invest in a portfolio of energy-related U.S. royalty trusts, E&P MLPs and Canadian royalty trusts and exploration and production companies and other energy assets. 

The Fund is traded on the New York Stock Exchange under the symbol "SRF." 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 a wholly-owned subsidiary of Swank Capital, LLC and 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 is also the sponsor of the Cushing^® Royalty Trust and Upstream Income Index which is designed to track the performance of publicly traded U.S. royalty trusts and upstream E&P MLPs.  The Index is calculated by Standard & Poor's and reported under the Bloomberg ticker "CRTY."  As of June 30, 2012, Cushing had approximately $2 billion of assets under management in closed-end funds, an open-end fund, privately offered funds and separately managed accounts.  

Contact:
The Cushing^® Royalty & Income Fund

For additional information contact:
Gavin Worthy
1-214-635-1686
[email protected]
www.swankcapital.com

IMPORTANT INFORMATION
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the Fund and Cushing believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the company's reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the Fund and Cushing do not assume a duty to update this forward-looking statement.

SOURCE The Cushing Royalty & Income Fund