American Stock Exchange Initial Public Offering of RMR Preferred Dividend Fund NEW YORK, May 26 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R)) today began trading common shares of RMR Preferred Dividend Fund under the ticker symbol RDR. RMR Preferred Dividend is a newly organized, non diversified, closed-end management investment company. Its primary investment objective is to provide high current income to its common shareholders; capital appreciation is its secondary objective. RMR Preferred Dividend Fund attempts to achieve its objectives by investing primarily in publicly traded preferred securities. It is anticipated that 50% of assets will be invested in preferred securities of Real Estate Investment Trusts (REITs). "We are pleased to welcome RMR Preferred Dividend Fund to the American Stock Exchange," said Tom Rzepski, Vice President of the Amex's closed-end fund business. "The investment advisor of the new fund is RMR Advisors, Inc. RMR Preferred Dividend Fund is the fourth closed-end fund RMR Advisors has listed on the Amex. The Amex looks forward to a long and collaborative relationship with RMR Advisors as we continue to provide investors with a variety of innovative investment opportunities." With an initial share price of $20 for the RMR Preferred Dividend Fund, the approximate initial value of the 2.6 million shares priced today is $52.7 million, including the underwriter's over allotment option. The underwriting syndicate is led by RBC Capital Markets and Wachovia Securities. The specialist in the new fund is Weiskopf, Silver & Co. The American Stock Exchange currently lists 150 closed-end funds with over $27 billion in assets. For additional information on this fund or other Amex- listed closed-end funds, please call 1-800-THE-AMEX. The American Stock Exchange(R) (Amex(R)) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRS(SM). In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 156 ETFs to date. The Amex is also one of the largest options exchanges in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. DATASOURCE: The American Stock Exchange CONTACT: Mary Chung of the American Stock Exchange, +1-212-306-1641, or Web site: http://www.amex.com/

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