FLC Flaherty and Crumrine Total Return Fund Inc

Flaherty & Crumrine/Claymore Preferred Securities Income Fund Incorporated (NYSE: FFC) and Flaherty & Crumrine/Claymore Total Return Fund Incorporated (NYSE:FLC) announced today that they have each increased the regular monthly dividend rates payable to their common stock shareholders as detailed below. The new monthly dividend rate for FFC will be $0.1325 per share, which equates to an annual dividend of $1.59 per share. This new monthly dividend represents an increase of approximately 4% over the prior monthly dividend. The new monthly dividend rate for FLC will be $0.1300 per share, which equates to an annual dividend of $1.56 per share. This new monthly dividend represents an increase of approximately 2% over the prior monthly dividend. These changes will be effective with the dividends to be paid on December 31, 2007 to holders of record of each Fund�s Common Stock on December 21, 2007. The expected ex-dividend date is December 19, 2007. The tax character of the 2007 distributions to shareholders will be available shortly after calendar year-end. We anticipate that the regular monthly dividends will be taxable as ordinary income, although this conclusion is preliminary and may be subject to change. FFC and FLC were organized in 2003 as closed-end, diversified investment companies. FFC invests primarily in preferred securities with an investment objective of high current income consistent with preservation of capital. FLC invests primarily in preferred and other income-producing securities with a primary investment objective of high current income and a secondary objective of capital appreciation. FFC and FLC are managed by Flaherty & Crumrine Incorporated, an independent investment adviser which was founded in 1983 to specialize in the management of portfolios of preferred and related securities. Flaherty & Crumrine also manages two other U.S. closed-end funds: Flaherty & Crumrine Preferred Income Fund (NYSE: PFD); and Flaherty & Crumrine Preferred Income Opportunity Fund (NYSE: PFO).