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Rivus Bond Fund (BDF) Announces Terms of the Reorganization of the Hartford Income Shares Fund, Inc. into Rivus Bond Fund

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^{Published in Business and Finance on Thursday, October 28th 2010 at 14:10 GMT by Market Wire}  

ARMONK, N.Y.--([ BUSINESS WIRE ])--Rivus Bond Fund (NYSE: BDF) (the aAcquiring Funda) announced today that the reorganization of The Hartford Income Shares Fund, Inc. (NYSE: HSF) (the aAcquired Funda) into the Fund (the aReorganizationa) was completed as of the close of business on October 22, 2010 (the aEffective Datea). The Reorganization was effected at an exchange ratio calculated as the net asset value per share of the Acquired Fund divided by the net asset value per share of the Acquiring Fund, each determined as of the close of trading on the New York Stock Exchange on the Effective Date. The Acquired Fund was credited with 4,150,026 shares of beneficial interest of the Acquiring Fund at $20.07 net asset value per share. As a result of the Reorganization, each shareholder of the Acquired Fund received shares of the Acquiring Fund with an aggregate net asset value that is equal to the aggregate net asset value of the shares of the Acquired Fund held by that shareholder as of the close of business on the Effective Date.

Rivus Bond Fund is a closed-end, diversified management investment company whose primary investment objective is to seek a high rate of return, primarily from interest income and trading activity, from a portfolio principally consisting of debt securities. The Fund is managed by Cutwater Investor Services Corp., a wholly-owned subsidiary of Cutwater Holdings, LLC, which in turn is wholly-owned by MBIA Inc. Shares of MBIA Inc. are listed on the NYSE, and trade under the symbol aMBIa.