OLA & TYW Announce the Availability of Their 2009 Annual Shareholder Reports

Old Mutual/Claymore Long-Short Fund (NYSE: OLA) and TS&W Tax-Advantaged Balanced Fund (NYSE: TYW) announce the availability of their 2009 annual shareholder reports. These reports have been filed with the Securities and Exchange Commission and are now posted on Claymore’s website at http://www.claymore.com/cef. Printed copies are available by calling 800-345-7999.

This information does not represent an offer to sell securities of the Funds and it is not soliciting an offer to buy securities of the Funds. There can be no assurance that the Funds will achieve their investment objectives. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value. The net asset value of the Funds will fluctuate with the value of the underlying securities. Past performance is not indicative of future performance.

Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Funds carefully before they invest. For this and more information, please contact a securities representative or Claymore Securities, Inc., 2455 Corporate West Drive, Lisle, Illinois 60532, 800-345-7999.

Member FINRA/SIPC

2/10

NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE

Old Mutual Claymore (NYSE:OLA)
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