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News and Information Article
NEW YORK, Dec. 14 /-FirstCall/ -- Cohen & Steers Select Utility
Fund, Inc. -- a non-diversified, closed-end management investment company
whose common shares trade on the New York Stock Exchange under the symbol
"UTF" -- announced today the pricing of $75 million in Series TH7 Auction
Market Preferred Shares (AMPS). The Series TH7 AMPS are expected to settle on
December 16, 2005.
The fund seeks to achieve a high level of after-tax total return through
investment primarily in a portfolio of equity securities issued by companies
engaged in the utility industry. In pursuing total return, the fund equally
emphasizes both current income, consisting primarily of tax-advantaged
dividend income, and capital appreciation. The funds investment manager is
Cohen & Steers Capital Management, Inc., a wholly owned subsidiary of Cohen &
Steers, Inc. (NYSE: CNS). The underwriters for the AMPS are Merrill Lynch,
Pierce, Fenner & Smith Incorporated; Deutsche Bank Securities Inc.; UBS
Securities LLC; and Wachovia Capital Markets, LLC. The auction agent is The
Bank of New York. The funds AMPS are rated "Aaa" by Moodys Investors
Service, Inc. and "AAA" by Standard & Poors Ratings Services.
Investors may participate in the auctions through participating broker-
dealers. To request a free prospectus containing more complete information
about the fund, including charges, expenses and risks, call 1-800-330-7348.
Please consider the investment objective, risks, and charges and expenses of
the fund and read the prospectus carefully before investing.
About Cohen & Steers, Inc.
Cohen & Steers is a manager of high-income equity portfolios, specializing
in U.S. REITs, international real estate securities, preferred securities,
utilities and large cap value stocks. Headquartered in New York City, the firm
serves individual and institutional investors through a wide range of open-end
funds, closed-end funds and separate accounts.
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