LEAWOOD, Kan. – July 20, 2009 – Tortoise North American Energy Corp. (NYSE: TYN) and Tortoise Gas and Oil Corp. (TGO) announced today that on Sept. 11, 2009, at 9:00 a.m. central, they will hold a special shareholder meeting at their 11550 Ash Street, Suite 300, Leawood, Kan. office to vote on the proposed merger of TYN and TGO. Subject to approval by the TYN and TGO stockholders, as part of the reorganization, TGO common stockholders will be issued TYN common stock and TYN would acquire substantially all of the assets and liabilities of TGO. The current TYN and TGO investment portfolios invest primarily in the same segments of the master limited partnership (MLP) sector. As of May 31, 2009, TYN had total assets of $94.3 million and net assets of $77.0 million and TGO had total assets of $35.6 million and net assets of $28.9 million. If the reorganization had closed on May 31, 2009, the combined fund would have had total assets of approximately $129.9 million and net assets of approximately $105.9 million.

The Adviser expects to mail definitive materials to TGO and TYN stockholders that will contain information about the proposed transaction in the next two weeks. In the meantime, TGO investors seeking liquidity may transfer shares pursuant to Rule 144 under the Securities Act of 1933. Information on how to transfer shares is available at www.tortoiseadvisors.com.

Stockholders are urged to read the definitive joint proxy statement/prospectus carefully and in its entirety when available as it will contain important information about the proposed reorganization.

Tortoise North American Energy Corp. is a publicly traded closed-end fund that invests in equity and debt securities of energy companies, including energy infrastructure, oil and gas exploitation and production, shipping and propane MLPs. TYN seeks to provide its stockholders with a high level of total return with an emphasis on current distributions.

Tortoise Gas and Oil Corp. is a privately held closed-end fund that invests primarily in publicly traded MLPs and their affiliates and privately held companies operating in the midstream and upstream segments of the energy sector. TGO seeks a high level of total return through capital appreciation and current income.

Tortoise Capital Advisors, LLC is a pioneer in capital markets for MLP investment companies and a leader in closed-end funds and separately managed accounts focused on MLPs in the energy sector. As of May 31, 2009, the Adviser had approximately $2.0 billion of assets under management.

Safe Harbor Statement

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.

Forward-Looking Statement

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 TYN, TGO and Tortoise Capital Advisors 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, TYN, TGO and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.

Contact information

Tortoise Capital Advisors, LLC, Pam Kearney, Investor Relations, (866) 362-9331, pkearney@tortoiseadvisors.com