OVERLAND PARK, Kan. - April 3, 2006 - Tortoise North American Energy Corp. (NYSE: TYN) announced today that it has successfully completed an offering of $40 million in Auction Rate Senior Notes, Series A (Tortoise Notes). The Tortoise Notes are rated 'Aaa' and 'AAA' by Moody's Investors Service Inc. and Fitch Ratings, respectively, and were issued in denominations of $25,000. Lehman Brothers acted as lead manager, and RBC Capital Markets participated as co-manager for the offering. Tortoise Notes may only be bought or sold through auction or in a secondary market maintained by certain broker-dealers.

The company intends to use the net proceeds of this offering to fully repay all outstanding indebtedness under the company's secured revolving credit facility. Additionally, Tortoise North American Energy intends to enter into interest rate risk management contracts in order to hedge its borrowing costs for the Tortoise Notes. Following the issuance of the Tortoise Notes, the total assets of Tortoise North American Energy are approximately $155 million.

About Tortoise North American Energy Corp.

Tortoise North American Energy Corp.'s investment objective is to provide its stockholders with a high level of total return with an emphasis on current distributions paid to stockholders. Tortoise North American Energy seeks to provide its shareholders with a vehicle to invest in a portfolio consisting primarily of publicly traded Canadian royalty trusts and income trusts (collectively RITs) and publicly traded United States master limited partnerships (MLPs) with an emphasis on the midstream and downstream North American energy sector.

About Tortoise Capital Advisors

Tortoise Capital Advisors, LLC, the adviser to Tortoise North American Energy Corp., is a pioneer in capital markets for master limited partnership (MLP) investment companies and a leader in closed-end funds and separately managed accounts focused on the energy infrastructure sector. Tortoise Capital Advisors also serves as the adviser to Tortoise Energy Infrastructure Corp. (NYSE: TYG), Tortoise Energy Capital Corp. (NYSE: TYY), and Tortoise Capital Resources Corp. To date, the adviser has approximately $1.6 billion of energy infrastructure investment assets under management. For more information, visit our website at www.tortoiseadvisors.com.

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.

Contact information:

Pam Kearney,
Investor Relations at (913) 322-5839,
pkearney@tortoiseadvisors.com