LEAWOOD, Kan. -Nov. 7, 2011 - The Board of Directors of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) today declared its monthly distributions for the 2012 first fiscal quarter of $0.125 per month payable as set forth below.

TPZ will report the sources for these monthly distributions at the time of payment in the applicable Section 19(a) Notice.

You should not draw any conclusions about TPZ's investment performance from the amount of this distribution or from the terms of TPZ's distribution policy.

TPZ may distribute more than its income and net realized capital gains; therefore, a portion of your distribution may be a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in TPZ is paid back to you. A return of capital distribution does not necessarily reflect TPZ's investment performance and should not be confused with "yield" or "income."

The amounts and sources of distributions TPZ reports are only estimates and are not provided for tax reporting purposes. The actual amounts and sources of the amounts for tax reporting purposes will depend upon TPZ's investment experience during the remainder of its fiscal year and may be subject to changes based on tax regulations. TPZ will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes.

Year-End Conference Call
The company will host a conference call on Dec. 15, 2011 at 4:30 p.m. EST, to discuss current U.S. energy infrastructure industry market conditions and TPZ's 2011 year-end performance results. Participants can access the conference call by dialing (800) 762-8779. The replay access code is 4487035. The call will also be webcast in a listen-only format. A link to the webcast will be accessible at www.tortoiseadvisors.com.

A replay of the call will be available at 6 p.m. EST on Dec. 15, 2011 and continuing until 11:59 p.m. CST Dec. 30, 2011, by dialing (800) 406-7325. The replay access code is 4487035#. A replay of the webcast will also be available on the company's website at www.tortoiseadvisors.com through Dec. 15, 2012.

About Tortoise Power and Energy Infrastructure Fund, Inc.
The Fund invests in a portfolio of fixed income and equity securities issued by power and energy infrastructure companies. The Fund's goal is to provide stockholders a high level of current income, with a secondary objective of capital appreciation.

About Tortoise Capital Advisors, LLC
Tortoise Capital Advisors, LLC is an investment manager specializing in listed energy infrastructure investments. As of Oct. 31, 2011 the adviser had approximately $7.2 billion of assets under management in NYSE-listed closed-end investment companies, an open-end fund and other accounts. For more information, visit 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.

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 the company 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, the company 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