Aug 8, 2011 - LEAWOOD, Kan.--(BUSINESS WIRE)-- The Board of Directors of Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) today declared its monthly distributions for the fourth fiscal quarter of $0.125 per month payable as set forth below.

For tax purposes, the company estimates 75 to 100 percent of TPZ's 2011 distributions paid will be characterized as ordinary income and capital gain. The final characterization will not be made until determination of it earnings and profits after year end. For book purposes, the source of these distributions is estimated to be approximately 50 to 55 percent ordinary income and the remainder return of capital.

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 is an investment manager specializing in listed energy infrastructure investments. Tortoise is considered a pioneer in managing portfolios of MLP securities and other energy companies for individual, institutional and closed-end fund investors. As of July 31, 2011, Tortoise had approximately $6.7 billion of assets under management in six NYSE-listed investment companies, an open-end investment company and private accounts. 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.

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.

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

Source: Tortoise Power and Energy Infrastructure Fund, Inc.